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Tesla Model S P100DL racing series Electric GT hits another delay
Back in April, the Electric Production Car Series, better known as Electric GT, revealed an eight-round calendar for its inaugural season, which was expected to begin this November at Jerez, Spain. The organization later unveiled its first race-ready vehicle, a highly-modified Tesla Model S P100DL, that is optimized for the track. Unfortunately, recent updates from Electric GT indicates that the racing series would be delayed yet again.
Electric GT was originally expected to begin in 2017, but delays forced the organization to push back the debut of the all-electric, Tesla-exclusive racing series. This time around, EGT noted that it was delaying the launch of the series since it is still seeking a lead investor. In a statement to Autosport, EGT CEO Mark Gemmell stated that almost everything is ready — from the series’ racing categories, FIA approval, and technical and broadcast partners. With an investor in the picture, Gemmell noted that the racing series could begin as early as the first half of 2019.
“Accelerating development in both electric mobility and sustainable energy means ‘The Age of Light’ will fast be with us. The Age of Light is a vision that has driven us for over three years to build an Electric Production Car Series that excites and inspires, and it is now close to final launch. Almost everything is ready: we’ve developed three fantastic race categories, received FIA approval and welcomed new technical and broadcast partners.
“The final ingredient is confirming a great lead investor who shares our vision of clean energy and transport, which is fundamental to launching the championship at the highest level possible. The championship start date will be set once this lead investor has been confirmed. As any start-up, we adapt and test our strategy to make sure the timing is right and the market ready. In creating an engaging and inclusive championship, we want to be open with our fans and supporters as we close in on this final step to bring the racing we all want to see.”
Last July, Electric GT showcased its first track-optimized Tesla Model S P100DL, where it was test-driven by veteran auto host Tiff Needell, who drove the vehicle around the Circuit de Barcelona-Catalunya in Barcelona. Needell, a former racing driver and presenter for programs such as Top Gear and Fifth Gear, was largely impressed with the track-optimized Model S P100DL, as the vehicle was powerful and it remained planted on the road despite performing aggressive maneuvers on the racetrack.
Unfortunately, Needell’s track session was cut short when Electric GT’s race-modified Model S P100DL exhibited heating issues after one lap and a half of hard driving, forcing the former racecar driver to head over to the pits, where the P100DL had to be cooled down. A spokesperson from EGT later issued a statement about the incident, explaining that the heating issue was caused by one of the vehicle’s outdoor temperature sensors from the air conditioning system being disconnected.
The Tesla Model S P100DL is a monster on straight-line races, but its limitations on the track are well documented. Electric GT is aware of this, and it has developed a system that could address the vehicles’ heating issues. The organization plans to introduce a system that would allow drivers to manage how much of the vehicle’s power they wish to use. Thus, to avoid overheating, drivers could opt to drive with a more manageable 470 hp, and only unleash the Model S P100DL’s full 778 hp when sprinting or overtaking. The Electric GT spokesperson noted that for the inaugural season, at least, the system will be “part of the strategy and part of the show.”
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
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Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla has expanded the footprint of a massive safety feature worldwide with a recent Software Update labeled as 2026.20.6. The expansion of the “Blind Spot Warning While Parked” feature represents the more widespread availability of the feature, which aims to prevent “dooring.”
Dooring is when a driver or passenger opens a car door into the path of an oncoming road user, usually a cyclist or motorcyclist. It is among the most common types of cycling accidents, the League of American Bicyclists says.
For this reason, Tesla created a feature that warns occupants not to open the door because an object is approaching. The feature will sound a chime, and it will also delay the opening of the door to prevent an incident.
The release notes state (via Not a Tesla App):
“If you attempt to open a door while an approaching object is detected in your blind spot (for example, a bicyclist approaching from behind) a chime sounds, and your door will not open upon initial button press. Wait a short time and press the button a second time to override the warning.”
Tesla initially rolled out this feature back in 2024 with the Model 3 “Highland.” However, it remained with the Model 3 exclusively for over a year; that was until Tesla added it to the Cybertruck this past Spring.
Now, it is making its way to the new Model Y, 2021 and newer Model S, and 2021 or newer Model X.
The prevention of dooring incidents could eliminate many injuries to cyclists, especially in an urban setting. Dooring accounts for 10-20 percent of bike-related crashes in major cities, and over 17,000 dooring-related incidents were treated in the U.S. over the course of a decade. These usually involve fractures, contusions, and head trauma.
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
SpaceX gets initial stock coverage from Tesla’s biggest bull
