Tesla

Tesla might be opening a showroom and service center in Mishawaka

With an undisclosed “high-end” electric car maker looking to open a showroom and service center in Mishawaka, some nearby residents think all the signs point to one company: Tesla.

The Mishawaka Plan Commission voted 4-3 this week in favor of a proposal by a Chicago-based developer to convert the former JC Penney Home Store, at Grape and Cleveland roads, into a 36,000-square-foot automotive facility.

Chris Sotos, a representative of Key Development Partners, told the commission his company has a contract to buy the site from its local owner and lease it to the auto company.

Sotos did not name the prospective tenant but described it as a “high-end electric automobile, solar power and renewable energy” company.

A rendering of a proposed electric car showroom and service center planned for Mishawaka.

When The Tribune asked whether that tenant would be Tesla, Mishawaka City Planner Ken Prince said the developer had not disclosed that information to the city.

But some aspects of the plan are consistent

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Tesla Is Turning Cars Into Phones. Other Car Makers Better Catch On.

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Courtesy Aptiv

Cars are slowly becoming less about hardware and more about software. That shift has the power to change the automotive industry as much as any other trend, including vehicle electrification and autonomous driving. Automotive investors should start paying more attention to software.

If a “software defined vehicle,” as the industry calls it, is difficult to grasp, all consumers need to do is look at their phones. Then, perhaps, visit their grandparents.

Phones used to be all about hardware. A rotary phone from Ma Bell didn’t have a lot of features constantly updating. Innovations were push-button numbers and extra long cords. But a new iPhone from

Apple

(AAPL) regularly has new apps and operating systems making it go a little bit better day by day.

Cars are still in the rotary phone stage—or perhaps the flip phone stage. But that is changing.

Tesla

(TSLA)

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Vietnam’s answer to Tesla has U.S. in its electric sights By Reuters


© Reuters. A labourer works in VinFast’s factory in Hai Phong City

By James Pearson and Phuong Nguyen

HAIPHONG, Vietnam (Reuters) – Move over Tesla, how about a VinFast?

That’s the proposition being offered by the automobile arm of Vietnam’s largest conglomerate, Vingroup. It’s betting big on the U.S. market with its VinFast line of cars and hoping that electric SUVs and a battery leasing model will be enough to woo consumers away from homegrown market leaders like Tesla and General Motors Co (NYSE:).

A recent arrival on the automotive scene and the No. 5 car brand in Vietnam, VinFast is not short on ambition, with its sights set on a U.S. listing and a valuation of as much as $60 billion, according to two sources familiar with its plans.

(GRAPHIC: VinFast fifth in terms of Vietnam sales in 2020 – https://graphics.reuters.com/VIETNAM-VINFAST/rlgvdzyjgvo/chart.png)

It will launch in North America and Europe

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Tesla reports higher profits, says expansion on track

Tesla reported a jump in first-quarter profits Monday on surging electric vehicle sales, and the manufacturer said it was on track to boost automotive capacity at factories in three countries.

The electric car maker set production and delivery records in the quarter, with the auto industry upstart’s Model 3 becoming the best-selling premier sedan in the world, according to chief executive Elon Musk.

“We’ve seen a real shift in customer perception of electric vehicles and our demand is the best we’ve ever seen,” Musk said on an earnings call.

“Only three and a half years into production and with just two factories, for Model 3 to be out-selling its combustion engine competitors is quite remarkable.”

Musk’s electric car company has faced questions in recent days following a fatal car crash in Texas and sharp criticism of the company on social media in China.

But Monday’s results were strong as Tesla

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