Tag Archives: tsla

Google Seen Closer To Driverless Car Pact With Fiat Chrysler

Alphabet ’s ( GOOGL ) Google and Fiat Chrysler Automobiles ( FCAU ) are moving closer to a non-exclusive pact to develop self-driving cars, says a Bloomberg report. Google and Fiat Chrysler initially plan to develop self-driving prototypes based on the carmaker’s Pacifica minivan, the report  said. Speculation over a Google-Fiat Chrysler deal  had surfaced late last month. Google and Fiat Chrysler would both be free to cooperate in driverless technology with other partners despite their pending pact. Google had earlier been in negotiations with General Motors ( GM ), but those talks reportedly stalled. GM has invested in Lyft as part of an alliance that involves autonomous efforts with the ride-hailing service. Other companies in the autonomous car race include Tesla Motors ( TSLA ), Apple ( AAPL ), Toyota ( TM ) and Ford ( F ). Apple has yet to confirm any car plans, though its intentions are seen as an open secret. In April, the company hired Chris Porritt, who had been Tesla’s vice president of vehicle engineering. He will work on Titan, Apple’s car project, say reports. A German newspaper last month said a potential Apple partner is Magna Steyr, the world’s largest contract automaker.

Tesla Partner Nvidia, Samsung Call Truce On Mobile-Chip Lawsuits

Tesla Motors ( TSLA ) partner Nvidia ( NVDA ) and Samsung called a cease-fire Monday on a nearly two-year battle over their mobile tech patents, the companies said in a joint statement hours before a decision was due in Samsung’s suit against Nvidia. Under the settlement, Nvidia and Samsung will license “a small number of patents by each company to each other,” but won’t allow for “broad cross-licensing of patents or other compensation,” they said. Nvidia fired the first shot in late 2014, claiming Samsung and Apple ( AAPL ) supplier Qualcomm ( QCOM ) had violated its patents on graphics processing chips. Samsung retaliated with a lawsuit that alleged Nvidia had violated its patents. Both sought to have some rival components banned from sale in the U.S. In December, a judge upheld an earlier ruling that Samsung and Qualcomm had not violated Nvidia’s patents. Monday’s decision would have wrapped Samsung’s case. In afternoon trading on the stock market today , Nvidia stock was up more than 1%, near 36. Shares are on a nearly three-month run, up 42% since a Feb. 11 bottom this year, likely helped along by the release of the Facebook ( FB ) Oculus Rift virtual-reality headset. The Oculus recommends use of devices that have graphics chips — graphics processing units — from Nvidia or Advanced Micro Devices ( AMD ).

Tesla Sales Seen Revving 70% in Q1, But Model X Could Hit Margins

Electric-car maker  Tesla Motors ( TSLA ) took a hit ahead of its Q1 earnings report set for release after the close Wednesday, as Baird lowered its profit-margin estimates for the quarter. Current analyst consensus calls for Q1 sales of $1.6 billion, up 70% from the year-earlier quarter, according to Thomson Reuters. That would be its sharpest increase since Q3 2014. Wall Street expects Tesla to report a loss of 58 cents a share, deepening from 36 cents in Q1 2015. On Friday, Baird analyst Ben Kallo wrote in a research note that the slow ramp of the new Model X SUV will hit Q1 profit margins. He lowered his margin estimate on the Model X to minus 10% from minus 5%. His overall gross margin estimate is 19.3% vs. the 21% consensus. He added that a refreshed Model S sedan should help Tesla still reach its year-end delivery goal of 80,000 to 90,000 vehicles. Tesla stock slid 2.8% Friday, to 240.76. Tesla stock has been hovering in the mid-200s and hit an eight-month high of 269 on April 7, when the company reported 325,000 preorders of its new Model 3 sedan and cleared a cup-with-handle base . By April 21, that number had risen to 400,000 . The company hopes to begin production of its lower-cost Model 3 — the base price is about $35,000 — by the end of 2017.