Tesla (TSLA) investors closed off the week with the stock closing -1.60% the last 5 days, which means it sits at +82.13% YTD.
Here's this week's news for Tesla, let's go through it together.
2. GERBER IS OUT
3. MAGIC DOCK IN US
4. BATTERY SHIFT US
5. ULTRA HARD STEEL
6. REFERRAL PROGRAM RETURNS
7. ANALYST CHANGES
LEGEND: Positive News | Neutral News | Negative News
Tesla has moved it's Engineering HQ to Palo Alto in California.
This new office will be focused on R&D with a focus on AI.
Ross Gerber has pulled out of running for a board seat at Tesla.
It appears this is a voluntary move as Gerber spoke with Tesla, and got word that the changes he wanted to implement were already in the works.
One of Gerber's main focus was to disconnect "Elon Musk" with "Tesla", and to help Tesla have it's own standalone name. This appears to also be a focus for the company going forward.
Multiple reports on twitter have shown a new Magic Dock coming to the US Superchargers. This will allow non-Tesla EVs to use the Supercharging network via CCS.
This could be a brand new lucrative revenue stream for Tesla. They are taking moves to open this to 3rd party EVs because it now qualifies them as part of the $7.5B EV Rebate from the government - meaning Tesla can use the money to build even more charging stations.
Tesla looks to be moving some battery manufacturing from Germany to the US. This is similar to the Magic Dock move where it appears this is to qualify for government programs and tax breaks for the company.
This is good news as it will create new jobs in the US.
Tesla has applied for a patent to create a new type of steel that is very hard - and will be used in the Cybertruck. The patent is called "Ultra-Hard Cold-Worked Steel Alloy"
More details on the patent can be found here.
A brand new referral program returns to Australia. This program is different from the original (which offered supercharging miles). This program offers credits for referrals, which can then be used to obtain apparel, supercharging miles, or software upgrades.
More details can be found here.
| RATING | PRICE TARGET | FIRM |
| Equal-Weight | $150 > $190 | Wells Fargo |
We look forward to spending a few minutes with you next Sunday for some new Tesla news!
Disclosure: I am a Tesla (TSLA) shareholder at the time of publishing.