Tesla

Car valuers and industry experts have dismissed Tesla CEO Elon Musk's claims that his electric cars will become an "appreciating asset", but have acknowledged that Tesla models will likely outperform other electric vehicles in Australia's used car market over coming years.

Production of the Tesla Model Y crossover has officially commenced at the company's Fremont factory in California. In its 2019 fourth quarter earnings report, released overnight, Tesla said it has begun producing the Model Y this month. Essentially a high-riding take on the Model 3, the Y is designed to tap into rampant global demand for mid-sized crossovers, and will go head-to-head with cars like the Fisker Ocean when it launches.

Overnight the market capitalisation of Tesla broke through the US$100 billion ($146 billion) barrier. As noted by Reuters, Tesla's share price has surged a further eight or so per cent while Australians were asleep. At the time of writing, Tesla's share price is US$586 ($854), making its market capitalisation is just shy of US$107 billion ($156 billion).

Alex Misoyannis • Tesla has reshuffled the production schedule of its polarising Cybertruck ute. According to the company’s online configurator, the flagship Tri Motor AWD Cybertruck will launch alongside the Dual Motor in late 2021 – a year earlier than first announced at the truck’s reveal. In turn, the entry-level Single Motor RWD variant is now slated to enter production in late 2022, one year later than initially detailed.

Do not adjust your eyes. This is not something from Mad Max or any other science fiction movie. This is the Tesla Cybertruck and it’s fair to say no-one expected it to look like this. Tesla claims it will be the toughest pick-up truck in the world, with a stainless steel body that can handle a 9mm bullet or a hit from a sledge hammer, and comes with super-strength glass.