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Tesla makings its way into Ireland with first store and Superchargers

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Nashville, TN Tesla Service Center
Tesla Service Plus outlet in Nashville, TN includes a store front, service center and Supercharger stalls

Tesla has revealed that it will open a ‘Service-Plus’ outlet and four additional Supercharging stations in Ireland in 2017. The announcement came from Tesla Motors director of Nordic sales, Peter Bardenfleth-Hansen, who told The Irish Times that the opening of the Irish store outlet “will happen simultaneously with the introduction of Superchargers.”

Tesla, renowned for its premium electric vehicles and founded by technology visionary Elon Musk, is “pretty far into the process” of entering the Irish market, according to Bardenfleth-Hansen. It is likely that the store outlet, which will be operated directly by Tesla, will be in Dublin. Plans are for the Supercharging stations to have partners in Dublin, Cork, Galway, and Belfast locations.

Service-Plus Outlet

Bardenfleth-Hansen said that Tesla centers in Ireland will likely be what is called a Service-Plus Outlet. Here, Tesla will introduce retail shoppers to the Tesla experience with a model car, design elements, and other paraphernalia. In the same facility, Tesla owners can have their cars serviced.

In many countries, Tesla operates stores on popular shopping streets and in upscale  shopping centers. Bardenfleth-Hansen acknowledged that Tesla may evolve into these spaces over time.

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Supercharger Stations in Dublin

From its first sale in 2012, Tesla was committed to providing a network of Supercharger stations to its customers. It was a way to help people to limit dependence on fossil fuels. In order to get people to use electric cars, however, it was important to offer electric-car drivers a way to charge when they were away from home and taking long distance all-electric journeys. A Model S or a Model X Supercharge will be free to customers in Ireland and abroad for their lifetimes. The upcoming Model 3 will have an optional Supercharger plan.
Tesla currently has 4,543 Supercharger stands at 727 locations worldwide.

“Each stand is about 135kW, and it’s very rare that we come to a site where there is enough power. So usually, it involves quite a bit of digging, because we have a lot of cabling to put into the ground in order to set up a supercharger station,” Bardenfleth-Hansen explained.

Importantly, Tesla Supercharging stations are strategically located for the convenience and safety of their users. “Usually we partner with a site that has the amenities for our customers to be able to use the restrooms and restaurant. Customers will be in that location for anything between 30 minutes and an hour,” Bardenfleth-Hansen continued. “We have an unwritten rule of thumb that it needs to be a place where a mother with children coming in at 10 p.m. at night feels safe.”

Investment Costs for Soon-to-Be Irish Tesla Owners

Tesla cars imported into Ireland qualify for tax relief of up to 5,000 Euros ($5,500 USD). That will be an incentive to Irish consumers who consider the four-door all-electric Model S coupe, which is the best selling luxury car in Western Europe, according to Forbessurpassing traditional high-status and internal combustion engine-powered favorites like the Mercedes S class, BMW 7 Series, Audi A8, and Porsche Panamera.  

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Tesla recently launched its flashy Model X crossover SUV in the U.K. The Model X P100D version accelerates from a standing start to 100km/h in 3.1 seconds. Prices for the upcoming mid-priced Model 3, which will rival the BMW 3 Series and the Audi A4, have not been yet confirmed for Europe. The car can be ordered in the U.S. starting at $35,000 (€31,900).

Carolyn Fortuna is a writer and researcher with a Ph.D. in education from the University of Rhode Island. She brings a social justice perspective to environmental issues. Please follow me on Twitter and Facebook and Google+

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Tesla stock gets latest synopsis from Jim Cramer: ‘It’s actually a robotics company’

“Turns out it’s actually a robotics and Cybercab company, and I want to buy, buy, buy. Yes, Tesla’s the paper that turned into scissors in one session,” Cramer said.

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Credit: Tesla Optimus/X

Tesla stock (NASDAQ: TSLA) got its latest synopsis from Wall Street analyst Jim Cramer, who finally realized something that many fans of the company have known all along: it’s not a car company. Instead, it’s a robotics company.

In a recent note that was released after Tesla reported Earnings in late January, Cramer seemed to recognize that the underwhelming financials and overall performance of the automotive division were not representative of the current state of affairs.

Instead, we’re seeing a company transition itself away from its early identity, essentially evolving like a caterpillar into a butterfly.

The narrative of the Earnings Call was simple: We’re not a car company, at least not from a birds-eye view. We’re an AI and Robotics company, and we are transitioning to this quicker than most people realize.

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Tesla stock gets another analysis from Jim Cramer, and investors will like it

Tesla’s Q4 Earnings Call featured plenty of analysis from CEO Elon Musk and others, and some of the more minor details of the call were even indicative of a company that is moving toward AI instead of its cars. For example, the Model S and Model X will be no more after Q2, as Musk said that they serve relatively no purpose for the future.

Instead, Tesla is shifting its focus to the vehicles catered for autonomy and its Robotaxi and self-driving efforts.

Cramer recognizes this:

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“…we got results from Tesla, which actually beat numbers, but nobody cares about the numbers here, as electric vehicles are the past. And according to CEO Elon Musk, the future of this company comes down to Cybercabs and humanoid robots. Stock fell more than 3% the next day. That may be because their capital expenditures budget was higher than expected, or maybe people wanted more details from the new businesses. At this point, I think Musk acolytes might be more excited about SpaceX, which is planning to come public later this year.”

He continued, highlighting the company’s true transition away from vehicles to its Cybercab, Optimus, and AI ambitions:

“I know it’s hard to believe how quickly this market can change its attitude. Last night, I heard a disastrous car company speak. Turns out it’s actually a robotics and Cybercab company, and I want to buy, buy, buy. Yes, Tesla’s the paper that turned into scissors in one session. I didn’t like it as a car company. Boy, I love it as a Cybercab and humanoid robot juggernaut. Call me a buyer and give me five robots while I’m at it.”

Cramer’s narrative seems to fit that of the most bullish Tesla investors. Anyone who is labeled a “permabull” has been echoing a similar sentiment over the past several years: Tesla is not a car company any longer.

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Instead, the true focus is on the future and the potential that AI and Robotics bring to the company. It is truly difficult to put Tesla shares in the same group as companies like Ford, General Motors, and others.

Tesla shares are down less than half a percent at the time of publishing, trading at $423.69.

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Tesla to a $100T market cap? Elon Musk’s response may shock you

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There are a lot of Tesla bulls out there who have astronomical expectations for the company, especially as its arm of reach has gone well past automotive and energy and entered artificial intelligence and robotics.

However, some of the most bullish Tesla investors believe the company could become worth $100 trillion, and CEO Elon Musk does not believe that number is completely out of the question, even if it sounds almost ridiculous.

To put that number into perspective, the top ten most valuable companies in the world — NVIDIA, Apple, Alphabet, Microsoft, Amazon, TSMC, Meta, Saudi Aramco, Broadcom, and Tesla — are worth roughly $26 trillion.

Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI

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Cathie Wood of ARK Invest believes the number is reasonable considering Tesla’s long-reaching industry ambitions:

“…in the world of AI, what do you have to have to win? You have to have proprietary data, and think about all the proprietary data he has, different kinds of proprietary data. Tesla, the language of the road; Neuralink, multiomics data; nobody else has that data. X, nobody else has that data either. I could see $100 trillion. I think it’s going to happen because of convergence. I think Tesla is the leading candidate [for $100 trillion] for the reason I just said.”

Musk said late last year that all of his companies seem to be “heading toward convergence,” and it’s started to come to fruition. Tesla invested in xAI, as revealed in its Q4 Earnings Shareholder Deck, and SpaceX recently acquired xAI, marking the first step in the potential for a massive umbrella of companies under Musk’s watch.

SpaceX officially acquires xAI, merging rockets with AI expertise

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Now that it is happening, it seems Musk is even more enthusiastic about a massive valuation that would swell to nearly four-times the value of the top ten most valuable companies in the world currently, as he said on X, the idea of a $100 trillion valuation is “not impossible.”

Tesla is not just a car company. With its many projects, including the launch of Robotaxi, the progress of the Optimus robot, and its AI ambitions, it has the potential to continue gaining value at an accelerating rate.

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Musk’s comments show his confidence in Tesla’s numerous projects, especially as some begin to mature and some head toward their initial stages.

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Tesla director pay lawsuit sees lawyer fees slashed by $100 million

The ruling leaves the case’s underlying settlement intact while significantly reducing what the plaintiffs’ attorneys will receive.

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Credit: Tesla China

The Delaware Supreme Court has cut more than $100 million from a legal fee award tied to a shareholder lawsuit challenging compensation paid to Tesla directors between 2017 and 2020. 

The ruling leaves the case’s underlying settlement intact while significantly reducing what the plaintiffs’ attorneys will receive.

Delaware Supreme Court trims legal fees

As noted in a Bloomberg Law report, the case targeted pay granted to Tesla directors, including CEO Elon Musk, Oracle founder Larry Ellison, Kimbal Musk, and Rupert Murdoch. The Delaware Chancery Court had awarded $176 million to the plaintiffs. Tesla’s board must also return stock options and forego years worth of pay. 

As per Chief Justice Collins J. Seitz Jr. in an opinion for the Delaware Supreme Court’s full five-member panel, however, the decision of the Delaware Chancery Court to award $176 million to a pension fund’s law firm “erred by including in its financial benefit analysis the intrinsic value” of options being returned by Tesla’s board.

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The justices then reduced the fee award from $176 million to $70.9 million. “As we measure it, $71 million reflects a reasonable fee for counsel’s efforts and does not result in a windfall,” Chief Justice Seitz wrote.

Other settlement terms still intact

The Supreme Court upheld the settlement itself, which requires Tesla’s board to return stock and options valued at up to $735 million and to forgo three years of additional compensation worth about $184 million. 

Tesla argued during oral arguments that a fee award closer to $70 million would be appropriate. Interestingly enough, back in October, Justice Karen L. Valihura noted that the $176 award was $60 million more than the Delaware judiciary’s budget from the previous year. This was quite interesting as the case was “settled midstream.”

The lawsuit was brought by a pension fund on behalf of Tesla shareholders and focused exclusively on director pay during the 2017–2020 period. The case is separate from other high-profile compensation disputes involving Elon Musk.

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Tesla Litigation by Simon Alvarez

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