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Tesla Received over 7,000 orders last week: Elon Musk

New Zealand News - Sun, 07/22/2018 - 02:57
 Elon Musk

According to a recent disclosure by Tesla Motors CEO Elon Musk, the automaker received new orders for more than 7,000 electric vehicles last week. The disclosure was made by Musk in an evident effort to dismiss the notion that Tesla is witnessing a flattening demand for Model 3. Traders have been selling Tesla Motors stock over the last few months and some of them have been trapped as the company managed to release strong production report during the recent quarter. Elon Musk has been closely watching and sharing reports about Tesla Model 3 production numbers.

Further elaborating on Tesla’s new order breakdown from last week, Musk has confirmed that the new orders received by the automaker for its Model S and Model X electric cars topped 2,000 last week, while the new orders for Model 3 electric car surpassed 5,000.

Musk’s disclosure about Tesla’s new order breakdown from last week underscores a rare move by the company. The automaker generally discloses its delivery and production numbers at the end of a quarter.

Musk has apparently shared the latest new order breakdown in response to recent claims by top Wall Street analyst Rajvindra Gill -- at Needham -- that Model 3 new orders are being outpaced by cancellations. With regard to Model 3 cancellations and new orders, Gill had specifically said in a note to clients: “Based on our checks, refunds are outpacing deposits as cancellations accelerate.”

However, some reports had pointed out that there were several other inaccuracies in Gill’s report. In addition, a statement was also issued by Tesla to refute Gill’s claims that the automaker is getting more Model 3 cancellations than new orders.

Companies: Tesla MotorsRegion: United StatesGeneral: TNMFeaturedPeople: Elon MuskBusiness: Auto Sector

EVgo powers energy storage systems with used BMW i3 battery packs in California

US News - Sat, 07/21/2018 - 17:53
EVgo powers energy storage systems with used BMW i3 battery packs in California

In a move which marks EVgo’s latest efforts to push energy storage innovations forward in the electric-vehicle (EV) space, the company has recently deployed a new energy storage system powered by “second-life” BMW i3 battery packs at its Union City, California, fast-charging station in the US.

The deployment of EVgo’s new energy storage system brings to the US the increasingly popular technology related to installation of stationary energy storage projects which draw power from ‘used’ battery packs of EVs.

The new energy storage system has been deployed by EVgo at its already-operational fast-charging station located at 3960 Smith Street in Union City. The deployment is the outcome of EVgo’s successfully completed pilot program for “second-life battery systems” at University of California San Diego (UCSD).

With EVgo already operating two 50-kilowatt (kW) DC fast chargers at its Union City site since summer 2017, the newly-deployed energy storage system comprises two “second-life” 22 kWh BMW i3 battery packs put together as a single unit. The battery packs unfold a 30 kW/44 kWh energy storage system when combined with a 30 kW inverter.

The new energy storage system deployed by EVgo is essentially capable of demand charge management at the company’s Union City site. It can reduce grid load, as well as costs, when both the fast chargers at the site are being used simultaneously.

Business: Auto SectorEnergy SectorCompanies: EVgoRegion: CaliforniaGeneral: FeaturedTNM
Categories: US News

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