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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

Tesla Starts 2017 Off With New Model

2016 saw some good and bad times for Tesla Motors. There was the purchase of SolarCity for $2.6 billion and unexpected high figures for the Model 3. However, the safety of the company’s auto-piloting systems were questioned, and there were a few discrepancies with journalists.

This year, however, seems to be looking up for Tesla. Analysts believe that 2017 will be a promising year for the motor company. There is even a belief that the Model 3 and Tesla’s energy storage company will be more than ready to face the competition. Shares for Tesla already traded for $213 Friday.

Where there is optimism though there is also room for skepticism. Analyst Ben Kallo of Baird believes that an aggressive campaign of sales in the third quarter could lead to a hindrance in the fourth quarter. Back in the fall, it was stated that Tesla would need at least $12.5 billion in new capital coming into the new year.

Tesla still hopes to deliver the Model 3 in 2017. The Model 3 will also be more reliant on a third-party distributor as opposed to its predecessor the Model S. This new factor could, however, push the expectation date for the Model 3 back to late 2018 instead. Kallo commented saying, “We think the ramp of Tesla Energy and Model 3 production could exceed expectations during 2017 and believe the opportunity is not currently reflected in share price.”


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