General Discussion: 2018 Investor Roundtable

[BioSehnsucht]

Electrek is reporting that unionization efforts are starting at GF2, though it's not UAW of course. Brotherhood of Electrical Workers and United Steelworkers. Can anyone provide any insight into whether these are actually beneficial unions or UAW type unions?

Tesla is facing another unionization effort, this time at Gigafactory 2

 

[defc0n]

Electrek is reporting that unionization efforts are starting at GF2, though it's not UAW of course. Brotherhood of Electrical Workers and United Steelworkers. Can anyone provide any insight into whether these are actually beneficial unions or UAW type unions?

Tesla is facing another unionization effort, this time at Gigafactory 2

Beneficial unions? In 2018?

 

[neroden]

Ford set to end production at Blanquefort in France

They're *refusing to sell it*? That doesn't even make sense. So they'll shut it down, and sit on it, and not get any money from selling it? Huh? Do the managers of Ford hate money?

 

[neroden]

Electrek is reporting that unionization efforts are starting at GF2, though it's not UAW of course. Brotherhood of Electrical Workers and United Steelworkers. Can anyone provide any insight into whether these are actually beneficial unions or UAW type unions?

Tesla is facing another unionization effort, this time at Gigafactory 2

IBEW is the electricians' trade union, they're fine. They uphold quality standards among their employees. They're certainly not the sort of union which, say, Amazon warehouse workers need, but they're perfectly well-behaved. They won't be running dishonest scam campaigns claiming that Tesla isn't using the color yellow, the way the UAW did, and they *definitely* won't be protecting irresponsible or unsafe workers. ("Hire a union electrician if you want to make sure the work is done right" -- they make that true. They're an older "guild-style" union.)

United Steelworkers I know nothing about. (Researching now.)

 

[jeewee3000]

Hey guys, just wanted to post that I got an invite to configure my Model 3 today. (European, non-Tesla owner, made reservation two weeks after the Model 3 reveal)

If I order before January 1st they promise delivery in february 2019.

 

[JRP3]

The Tesla Model S and Model X hold their resale value better than any of their gas-powered peers, according to an Autolist.com study.

Study: Tesla Model X and Model S continue to hold values better than rivals

Daniel Burrus is author of seven books including the best-sellers Flash Foresight and TechnoTrends. The New York Times referred to him as one of the top three business gurus in spectacularly high demand as a speaker. It turns out that Burrus recently decided it was time for a new SUV. Something unusual happened when he decided to take the Tesla Model X on a test drive.... “However, it was when I drove the Tesla Model X that I felt like I was driving in the future. After that test drive, my view of the other brands was changed. All the others instantly felt like the past,” says Burrus.

Tesla Model X Test Drive Causes Unusual Phenomenon

 

[Curt Renz]

Chicago Tribune - December 11: GM fights feds to keep $7,500 electric vehicle tax credit

 

[Curt Renz]

MarketWatch - 32 minutes ago: Tesla sells $837 million of bonds backed by auto leases

 

[Curt Renz]

Published by Tesla an hour ago:

 

[EVNow]

MarketWatch - 32 minutes ago: Tesla sells $837 million of bonds backed by auto leases

So, what rate is Tesla paying ?

 

[jhm]

MarketWatch - 32 minutes ago: Tesla sells $837 million of bonds backed by auto leases

Shall I ask it? What does Tesla need the cash for?

 

[RobStark]

Shall I ask it? What does Tesla need the cash for?

To finance 2019 Tesla vehicle leases?

 

[hobbes]

New info on Tesla´s California Moss Landing storage project, capacity 1200 MWh, made up of new MegaPacks:

Tesla’s new Megapack to debut at giant energy storage project in California

 

[brian45011]

So, what rate is Tesla paying ?

Nothing announced. Ask the Fixed Income desk at your broker if they know (?). The debt table in the 10Q shows TALT 2018 A as 2.3-4.9% while the Warehouse Line (which has to be repaid when the vehicles are transferred) shows 3.5%. The ABS rates are fixed whereas the Warehouse credit floats based on LIBOR.

Initial indications are:

The new bonds have longer maturities, however, and Tesla expects to pay more for them.

Its biggest US$673.68m block is a 1.49-year Triple A class that has been circulated at talk in the 90bp-100bp area over EDSF, according to two investors.

Its Triple As from the February securitization were a 0.84-year slug of bonds that priced at 30bp over EDSF, according to IFR data.

Tesla readies second US dollar auto ABS deal
​

Moodys shows this ABS' ratings as:

Issuer: Tesla Auto Lease Trust 2018-B
Class A Notes, Assigned (P)Aaa (sf)
Class B Notes, Assigned (P)Aa2 (sf)
Class C Notes, Assigned (P)A2 (sf)
Class D Notes, Assigned (P)Baa2 (sf)
Class E Notes, Assigned (P)Ba3 (sf)
​

Also, the TALT B pool is appreciably less "seasoned" than the TALT A pool (7 months vs 15 months)--but with slightly higher FICO scores.

 

[heltok]

Was looking at this chart
View media item 119161
Then it hit me. That is pretty much how Model S market share is looking. And Model X. And that is likely how the Roadster will be looking. And probably the Y also. And maybe even the Pickup. And then a $25k compact. And let’s not forget the semi. That is what Tesla has been doing, dominating every category they enter. They have perfected their product launches like SpaceX has perfected their new rocket launches. They have good simulation enviroments, good development cycles, good design teams, battle tested leaders, a working long term strategy and customers lining up to join their mission. This is what the shorts don’t understand, Teslas track record of surprising them by dominating new markets. Tesla’s secret sauce.

 

[neroden]

Nothing announced. Ask the Fixed Income desk at your broker if they know (?). The debt table in the 10Q shows TALT 2018 A as 2.3-4.9% while the Warehouse Line (which has to be repaid when the vehicles are transferred) shows 3.5%. The ABS rates are fixed whereas the Warehouse credit floats based on LIBOR.

Initial indications are:

The new bonds have longer maturities, however, and Tesla expects to pay more for them.

Its biggest US$673.68m block is a 1.49-year Triple A class that has been circulated at talk in the 90bp-100bp area over EDSF, according to two investors.

Its Triple As from the February securitization were a 0.84-year slug of bonds that priced at 30bp over EDSF, according to IFR data.​

EDSF appears to mean "Eurodollar spot future", which appears to be approximately equal to LIBOR. Assuming 1-year libor, which is currently 3.1%, that would be about 4.1% for the longer block and 3.4% for the shorter block. Probably a bit higher for the longer block and a bit lower for the shorter block due to the time duration. If these are fixed rate (as we currently think), this is better than risking rate increases on the Warehouse Line if the Fed raises rates. (It also frees up capacity in the Warehouse Line.)

 

[RobStark]

And Model X.

Small And Midsize Luxury SUV Sales In America – November 2018

 

[nursebee]

General discussion, East Coast road trip.
Whenever we travel, eyes kept open for electric cars on the road, at chargers. On daylong trips, rarely see more than one or two cars.
This weekend was different. Day one the count started slow, none at the SC nearest us. Then a few on the road, kept track of each S, X, 3. Then the total reached 8, then 12 after a car carrier. By night it was just over 20, including two in a row of travel. Next day in the rain, it was 5 in an hour, then 4 the next hour. Then bad traffic in bad conditions.

We were travelling in areas where I expect there is more affluence.

I sat in my first 3, albeit short period of time it appears this oversize frame fits. Uh oh!

Beautiful cars.
Real car company
Long

 

[RobStark]

Dream deal with Tesla puts leasing startup’s future in doubt

In an October email, MUSA, a Dallas company founded in 2016, told dealer customers it could no longer finance new deals after the partnership with Tesla caused MUSA's leasing volume to increase sixfold from August to September. As of mid-December, lease approvals had yet to resume, MUSA dealer clients said. The abrupt halt in business has left dealer partners without funding and some customers without the vehicles they had leased.

 

[neroden]

Dream deal with Tesla puts leasing startup’s future in doubt

In an October email, MUSA, a Dallas company founded in 2016, told dealer customers it could no longer finance new deals after the partnership with Tesla caused MUSA's leasing volume to increase sixfold from August to September. As of mid-December, lease approvals had yet to resume, MUSA dealer clients said. The abrupt halt in business has left dealer partners without funding and some customers without the vehicles they had leased.

Tsk tsk. They set up an automated lease approval system *which didn't check how much money was in their bank account before approving the leases*. Sloppy sloppy.