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Who’s Coming, Who’s Going at Tesla Motors
Tesla has had two senior employees depart recently, but has acquired the services of Felix Godard, designer to the upcoming Porsche Mission E sports car.
Working at Tesla could be a dream job. It is one of the most high profile and innovative companies in both the tech and automotive worlds, but with that also comes high stresses.
Elon Musk is known to demand a lot of his people. Some get burned out after a while. Others just want a fresh set of challenges. One of those is Riccardo Biasini. He joined Tesla in 2011 and worked his way up in the company to the senior system engineer leading the company’s vehicle propulsion team.
SpaceX and Tesla rated most meaningful work in high tech. Also, most stressful, but that goes with the territory. https://t.co/y8s4UdMF5z
— Elon Musk (@elonmusk) March 6, 2016
Biasani has just announced he is leaving the company to head up the AI unit at George Hotz’s start-up, Comma.ai. Hotz says his company will soon offer aftermarket systems that bring lane keeping and automatic braking to new cars. He promises his system will outperform any others on the market — including Tesla’s Autopilot.
According to Forbes, Hotz is using an Acura ILX as his test vehicle. It is equipped with 6 cameras, Lidar, and radar. A computer with a Nividia graphics card resides in the trunk and coordinates the inputs from all devices using machine learning algorithms that Hotz developed.
Also leaving Tesla is James Chen, vice president of regulatory affairs and deputy general counsel. Most recently, Chen spearheaded the operation that defeated the General Motors sponsored legislation in Indiana that would have eliminated the company’s ability to sell cars directly to customers in that state. Chen has not revealed what company he is going to next.
On the plus side, Tesla has hired Félix Godard, the designer for the interior of the futuristic Porsche Mission E electric sports car. Godard will play an important role in designing the interior of the Model 3. At is reveal, the Model 3 featured on a minimalistic dashboard unlike any seen on a production prototype before.
Tesla has confirmed that dashboard is what will be in the Model 3 when it rolls off the assembly line. When Porsche revealed a prototype of the Mission E, it had this to say in a press release. “Instruments are intuitively operated by eye tracking and gesture control, some even via holograms — highly oriented toward the driver by automatically adjusting the displays to the driver’s position.”
Elon Musk has hinted that Phase 2 of the Model 3 reveal — scheduled to take place closer to the date when production begins — will be more astounding than Phase 1. The Porsche Mission E concept may offer an important clue as to what Tesla has in mind for the final production version of its car. A full head’s up display spread across the entire windshield? Holograms? Imagine a $35,000 sedan that has the same technology as the most advanced Porsche in history.
Anytime someone leaves Tesla, there are stories about poaching and outrageous signing bonuses. The process works both ways, with the company attracting talent from other companies and some of its employees finding the grass is greener elsewhere. Tesla probably won’t miss a beat from the departure of Ricardo Biasini or James Chen. But the arrival of Félix Godard suggests exciting times ahead for Tesla.
Source: BGR, Forbes
Tesla stock (NASDAQ: TSLA) closed at an all-time high on Tuesday, jumping over 3 percent during the day and finishing at $489.88.
The price beats the previous record close, which was $479.86.
Shares have had a crazy year, dipping more than 40 percent from the start of the year. The stock then started to recover once again around late April, when its price started to climb back up from the low $200 level.
This week, Tesla started to climb toward its highest levels ever, as it was revealed on Sunday that the company was testing driverless Robotaxis in Austin. The spike in value pushed the company’s valuation to $1.63 trillion.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
It is the seventh-most valuable company on the market currently, trailing Nvidia, Apple, Alphabet (Google), Microsoft, Amazon, and Meta.
Shares closed up $14.57 today, up over 3 percent.
The stock has gone through a lot this year, as previously mentioned. Shares tumbled in Q1 due to CEO Elon Musk’s involvement with the Department of Government Efficiency (DOGE), which pulled his attention away from his companies and left a major overhang on their valuations.
However, things started to rebound halfway through the year, and as the government started to phase out the $7,500 tax credit, demand spiked as consumers tried to take advantage of it.
Q3 deliveries were the highest in company history, and Tesla responded to the loss of the tax credit with the launch of the Model 3 and Model Y Standard.
Additionally, analysts have announced high expectations this week for the company on Wall Street as Robotaxi continues to be the focus. With autonomy within Tesla’s sights, things are moving in the direction of Robotaxi being a major catalyst for growth on the Street in the coming year.
Elon Musk
Tesla needs to come through on this one Robotaxi metric, analyst says
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Tesla needs to come through on this one Robotaxi metric, Mark Delaney of Goldman Sachs says.
Tesla is in the process of rolling out its Robotaxi platform to areas outside of Austin and the California Bay Area. It has plans to launch in five additional cities, including Houston, Dallas, Miami, Las Vegas, and Phoenix.
However, the company’s expansion is not what the focus needs to be, according to Delaney. It’s the speed of deployment.
The analyst said:
“We think the key focus from here will be how fast Tesla can scale driverless operations (including if Tesla’s approach to software/hardware allows it to scale significantly faster than competitors, as the company has argued), and on profitability.”
Profitability will come as the Robotaxi fleet expands. Making that money will be dependent on when Tesla can initiate rides in more areas, giving more customers access to the program.
There are some additional things that the company needs to make happen ahead of the major Robotaxi expansion, one of those things is launching driverless rides in Austin, the first city in which it launched the program.
This week, Tesla started testing driverless Robotaxi rides in Austin, as two different Model Y units were spotted with no occupants, a huge step in the company’s plans for the ride-sharing platform.
Tesla Robotaxi goes driverless as Musk confirms Safety Monitor removal testing
CEO Elon Musk has been hoping to remove Safety Monitors from Robotaxis in Austin for several months, first mentioning the plan to have them out by the end of 2025 in September. He confirmed on Sunday that Tesla had officially removed vehicle occupants and started testing truly unsupervised rides.
Although Safety Monitors in Austin have been sitting in the passenger’s seat, they have still had the ability to override things in case of an emergency. After all, the ultimate goal was safety and avoiding any accidents or injuries.
Goldman Sachs reiterated its ‘Neutral’ rating and its $400 price target. Delaney said, “Tesla is making progress with its autonomous technology,” and recent developments make it evident that this is true.
Investor's Corner
Tesla gets bold Robotaxi prediction from Wall Street firm
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Tesla (NASDAQ: TSLA) received a bold Robotaxi prediction from Morgan Stanley, which anticipates a dramatic increase in the size of the company’s autonomous ride-hailing suite in the coming years.
Last week, Andrew Percoco took over Tesla analysis for Morgan Stanley from Adam Jonas, who covered the stock for years. Percoco seems to be less optimistic and bullish on Tesla shares, while still being fair and balanced in his analysis.
Percoco dug into the Robotaxi fleet and its expansion in the coming years in his latest note, released on Tuesday. The firm expects Tesla to increase the Robotaxi fleet size to 1,000 vehicles in 2026. However, that’s small-scale compared to what they expect from Tesla in a decade.
Tesla expands Robotaxi app access once again, this time on a global scale
By 2035, Morgan Stanley believes there will be one million Robotaxis on the road across multiple cities, a major jump and a considerable fleet size. We assume this means the fleet of vehicles Tesla will operate internally, and not including passenger-owned vehicles that could be added through software updates.
He also listed three specific catalysts that investors should pay attention to, as these will represent the company being on track to achieve its Robotaxi dreams:
- Opening Robotaxi to the public without a Safety Monitor. Timing is unclear, but it appears that Tesla is getting closer by the day.
- Improvement in safety metrics without the Safety Monitor. Tesla’s ability to improve its safety metrics as it scales miles driven without the Safety Monitor is imperative as it looks to scale in new states and cities in 2026.
- Cybercab start of production, targeted for April 2026. Tesla’s Cybercab is a purpose-built vehicle (no steering wheel or pedals, only two seats) that is expected to be produced through its state-of-the-art unboxed manufacturing process, offering further cost reductions and thus accelerating adoption over time.
Robotaxi stands to be one of Tesla’s most significant revenue contributors, especially as the company plans to continue expanding its ride-hailing service across the world in the coming years.
Its current deployment strategy is controlled and conservative to avoid any drastic and potentially program-ruining incidents.
So far, the program, which is active in Austin and the California Bay Area, has been widely successful.
Tesla stock closes at all-time high on heels of Robotaxi progress
Tesla needs to come through on this one Robotaxi metric, analyst says
