Tesla is a growing success story, the national transport agency centers its progress on driverless technology and an increasingly promising car-sharing market.
Company of the Week – It’s been 3 weeks now, Tesla the luxury EV automaker was announcing the success of the Q1. Some pro-auto testers don’t hesitate to rank it the #1 car ever tested. This is the starting point of the Tesla success story; Since the public opening, the stocks skyrocketed +100% in a week, which financed the loan to the DOE 9 years before the proposed deadline. They decided to invest the profits in two strategic ways: the development of the Tesla “affordable EV” or Model X for less than $40,000, with gas economy of 200 miles and to triple their Fast Charging Station grid to make it possible for users to travel in EV. CEO Musk’s objective was “people could drive from NY to LA in full electric by 6 months.”
Regulation – The NHTSA (National Highway Traffic Safety Administration) going through driverless cars regulation issues. After years of silence and studies of the automotive market the NHTSA declared last week that the first autonomous vehicles can be expected to hit the market by 2020. They are equally confident in the carmakers’ abilities to meet standard safety issues (tech bugs, confidentiality…). They took a major decision in favor of these technologies and encouraged every state of America to authorize driverless car tests on their property. This announcement pushes car markers to reconsider the possibilities and compete in the race to the car of the future.
Funding of the Week – Zimride Lyft, Peer-to-peer car-sharing company hits the 30,000th ride a week milestone. They closed last week in a $60 million funding round and showed clear intentions to invest the money to expend nationally and internationally. They already launched this week the opening of a new network for a Boston subsidiary.
Acquisition of the Week – Relayride, the GM backed peer-to-peer carsharing Company is acquiring one of his main competitors: Wheelz. The amount of the transaction still remains undisclosed, but Relayride is obviously seeking for acquiring Wheelz DriveBox technology. Thanks to little devices plugged in the car the renter is able to unlock any cars of the Network through the account on Company iPhone application.