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Ford Mustang Mach-E will have more intuitive and less complicated controls than a Tesla: CEO

(Credit: Ford)

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Among the upcoming entries to the all-electric vehicle market, the Ford Mustang Mach-E stands as one of the most exciting. The vehicle, after all, features Mustang-worthy performance at a price that’s competitive with EVs like the Tesla Model Y. It’s also a crossover, which means that it is competing in one of the automotive market’s most lucrative segments. 

That being said, the electric vehicle market, especially in the United States, is pretty much Tesla’s territory. Tesla dominates the EV segment to such an insane degree that in states like California, the company’s futuristic all-electric cars are becoming ubiquitous. Ford CEO Jim Farley, however, believes that this status quo is open for change, especially when the Mustang Mach-E comes to market.

In a recent statement to the Detroit Free Press, the Ford CEO stated that the Mach-E is the first “true” competitor for Tesla’s electric cars. That’s not all, either, as Farley noted that the Mach-E would have an advantage over its California-made competitor. “The vehicle is a game-changer. For me, the Mach-E is the first true competitor with Tesla. It’s got Detroit swagger. It’s a Mustang. Tesla is not a Mustang,” Farley remarked. 

Farley also noted that the Mach-E would feature technology that’s more intuitive and less complicated than what Tesla offers in its vehicles. The CEO took a particular focus on the Mach-E’s controls, which feature a blend of Tesla-esque touchscreen features, traditional buttons, and interestingly enough, a physical knob fitted in the center display. These, according to Farley, will offer drivers an experience that is as familiar and safe as it is convenient. 

“We have an (additional) small screen in front of the driver, which we think is a lot safer. You don’t have to move your attention to the center of the car, away from the road. You can hit a button and pick driver modes with one click. You still have traditional buttons,” he said. 

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The Ford CEO added that in a Tesla, drivers would have to go through different screen menus to perform basic tasks such as turning on the defroster or adjusting the car’s side mirrors. This suggests that Tesla, in its decision to embed a lot of controls in the display, sacrificed usability over design. Farley noted that for the Mach-E, Ford wants to ensure that drivers could perform vehicle-related actions quicker and easier. 

Ford is putting in a lot of effort into ensuring that the Mustang Mach-E will not be just another compliance car. The vehicles, for example, will not just fill Ford dealerships. Instead, they will be made to order, just like Tesla’s electric cars. This marks the first time in Ford’s history that it is launching a product through a reservation process. The company is also conducting a full press initiative to push the Mach-E to as many potential customers as possible. 

So far, initial reactions to the Mach-E have been positive. During a dealership event on October 23, for example, the vehicle attracted so many interested onlookers that Ford had to turn away some visitors over social distancing rules. Ford Chairman Bill Ford, known for his love of loud-roaring Mustangs, also reportedly enjoyed the vehicle so much that he practically refused to give back a Mach-E unit that he was using, at least until the vehicle’s production and design teams pleaded with him to return the all-electric crossover. 

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Tesla receives major institutional boost with Nomura’s rising stake

The move makes Tesla Nomura’s 10th-largest holding at about 1% of its entire portfolio.

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Credit: Tesla China

Tesla (NASDAQ:TSLA) has gained fresh institutional support, with Nomura Asset Management expanding its position in the automaker. 

Nomura boosted its Tesla holdings by 4.2%, adding 47,674 shares and bringing its total position to more than 1.17 million shares valued at roughly $373.6 million. The move makes Tesla Nomura’s 10th-largest holding at about 1% of its entire portfolio.

Institutional investors and TSLA

Nomura’s filing was released alongside several other fund updates. Brighton Jones LLC boosted its holdings by 11.8%, as noted in a MarketBeat report, and Revolve Wealth Partners lifted its TSLA position by 21.2%. Bison Wealth increased its Tesla stake by 52.2%, AMG National Trust Bank increased its position in shares of Tesla by 11.8%, and FAS Wealth Partners increased its TSLA holdings by 22.1%. About 66% of all outstanding Tesla shares are now owned by institutional investors.

The buying comes shortly after Tesla reported better-than-expected quarterly earnings, posting $0.50 per share compared with the $0.48 consensus. Revenue reached $28.10 billion, topping Wall Street’s $24.98 billion estimate. Despite the earnings beat, Tesla continues to trade at a steep premium relative to peers, with a market cap hovering around $1.34 trillion and a price-to-earnings ratio near 270.

Recent insider sales

Some Tesla insiders have sold stock as of late. CFO Vaibhav Taneja sold 2,606 shares in early September for just over $918,000, reducing his personal stake by about 21%. Director James R. Murdoch executed a far larger sale, offloading 120,000 shares for roughly $42 million and trimming his holdings by nearly 15%. Over the past three months, Tesla insiders have collectively sold 202,606 shares valued at approximately $75.6 million, as per SEC disclosures.

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Tesla is currently entering its next phase of growth, and if it is successful, it could very well become the world’s most valuable company as a result. The company has several high-profile projects expected to be rolled out in the coming years, including Optimus, the humanoid robot, and the Cybercab, an autonomous two-seater with the potential to change the face of roads across the globe.

@teslarati Tesla Full Self-Driving yields for pedestrians while human drivers do not…the future is here! #tesla #teslafsd #fullselfdriving ♬ 2 Little 2 Late – Levi & Mario
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Tesla rolls out fresh Supercharger pricing strategy to more locations

Live Pricing aimed to resolve some of the shortcomings of the off-peak and on-peak system, aiming to keep prices low and base them on current utilization instead of a set time when prices change.

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Credit: Tesla

Tesla has rolled out a fresh Supercharger pricing strategy to more locations, as it confirmed it has added 550 additional sites in the United States to its “Live Pricing” strategy.

Live Pricing for Superchargers launched back in May, and was the company’s latest strategy to keep charging your EV cheap, affordable, and easy to understand.

Tesla has adjusted its pricing strategy at Superchargers several times over the past few years, with the most notable being the 2020 introduction of off-peak and on-peak Supercharging rates.

Live Pricing aimed to resolve some of the shortcomings of the off-peak and on-peak system, aiming to keep prices low and base them on current utilization instead of a set time when prices change.

Tesla explained the program when it launched:

“We are piloting on-peak and off-peak pricing based on live Supercharger utilization rather than estimations. The average price remains unchanged, but this live feedback loop improves accuracy. This corrects off-peak pricing during times of congestion, or on-peak pricing when Superchargers are plentiful. You’ll always see the price before your session begins, and prices do not change mid-session. A small-scale pilot is launching at 10 sites and will expand based on feedback and success.”

The initial rollout only included Superchargers in California, but it was not all of them, only a handful instead. Tesla was attempting to launch it in a very controlled manner by using a Pilot Program that would iron out all the early bugs and potential issues it might run into.

However, the company expanded the program by launching it at an additional 550 sites in California, New Jersey, New York, Florida, and Illinois:

The price you pay is locked in when you plug in, so if the Supercharger station you are charging at becomes more crowded and the program bumps up the rates because of high utilization rates, you will still receive the cheaper price that was enabled when you arrived.

@teslarati With a pedestrian in the crosswalk, Tesla Full Self-Driving shows off its courtesy. Human drivers? Not so much. #tesla #teslafsd #fullselfdriving ♬ AMERICAN HEART – Maxwell Luke

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Tesla Robotaxi was just spotted in a new state for the first time

The company is still attempting to expand and has explicitly stated that it plans to offer rides in Nevada, Arizona, and Florida in the near future. However, a pair of Robotaxi mules, fitted with LiDAR equipment for ground truth validation, was spotted in a new region for the first time.

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Credit: Tesla

Tesla Robotaxi mules were spotted in a new state for the first time as the company plans to expand the ride-sharing service to new areas of the United States in the coming months.

Tesla is offering Robotaxi rides in Austin already, where nobody is present in the driver’s seat except for on freeway routes. In California, Tesla refers to its platform as a ride-hailing suite, and a “Safety Monitor” is present in the driver’s seat at all times, but the vehicle operates on Full Self-Driving.

The company is still attempting to expand and has explicitly stated that it plans to offer rides in Nevada, Arizona, and Florida in the near future. However, a pair of Robotaxi mules, fitted with LiDAR equipment for ground truth validation, was spotted in a new region for the first time.

Over the weekend, Tesla Robotaxi mules were spotted in Enola, Pennsylvania, just about ten minutes from downtown Harrisburg:

Enola is situated to the northwest of Harrisburg, Pennsylvania’s State Capitol. Interestingly, you’d expect Tesla to be testing these types of vehicles in other, more populated areas; Philadelphia is about two hours East, and Pittsburgh is about three hours west. State College is about an hour North of Enola.

Looking at the location of where the vehicles were spotted tells an interesting story, as Enola, located right outside of the State Capitol, could be a move to nudge legislators to consider looking at some of the laws that deal with driverless and autonomous vehicle operation.

Pennsylvania’s Act 130 of 2022 and subsequent guidelines permit the testing of driverless vehicles in the Commonwealth, but PennDOT requires a permit from Tesla or any other company that wants to operate a ride-hailing service in PA.

It’s also important to note that the cars could have simply been stopping through, as they were spotted at a Supercharger location along Interstate 81, which spans from Tennessee to New York.

It is not to say the vehicles are testing along the entire route, but likely a segment of it. The fact that they were spotted in Pennsylvania does bode well for Tesla’s expansion efforts moving forward.

@teslarati Tesla Full Self-Driving yields for pedestrians while human drivers do not…the future is here! #tesla #teslafsd #fullselfdriving ♬ 2 Little 2 Late – Levi & Mario

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