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Is Tesla Motors About To Change Its Name?

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Is Tesla Motors about to change its name? Now that Tesla Motors owns the domain name Tesla.com, the company could become just Tesla without the Motors. The url belonged to Stu Grossman, a Silicon Valley engineer and devoted fan of Nikola Tesla since 1992. When Elon Musk confirmed the change of ownership in a tweet last week, most people assumed the url was a nice thing to have but nothing more than that.

The folks at The Motley Fool think there may be more to the story. To understand their reasoning, you have to go back to January 9, 2007, That’s the date Apple dropped the word “Computer” from its name. It is also the day it introduced the iPhone. BI suggests Steve Jobs knew the iPhone would transform the company’s business and that it would never again be just a computer company.

Are Elon Musk and Tesla Motors planning a similar move? Just this month, Tesla Motors announced an important agreement to provide grid storage batteries to Kauai Island Utility Cooperative. The deal includes a major installation of solar panels supplied by Tesla’s sister corporation, SolarCity. Together, it represents the largest utility storage project in the history of North America. News of the joint venture has done wonders for Tesla Motors’ stock price, which had plummeted to below $137 a share before the announcement.

Tesla has also announced that it will be opening its first office in Cape Town, and operation aimed solely at bringing renewable grid power to parts of Africa that have never had reliable access to electrical energy.

The common thread in the two announcements is the rise of Tesla’s energy storage business. During this month’s fourth quarter earnings call, Elon Musk told investors that the Gigafactory is already producing batteries for the Powerwall and Powerpack. Not only that, they are showing a profit. Musk sad he expects the business to be a much needed source of revenue for the company even while production is being ramped up.

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At the Tesla Energy event last year, Elon dropped hints that he would consider changing the company name to reflect its involvement with energy storage products if it were not for issues about acquiring a suitable domain name. Perhaps with the acquisition of tesla.com, that concern has ceased to be a problem.

Many have always believed that Tesla Motors is not just a car company that also makes batteries; rather it is a battery company that also makes automobiles. The difference in emphasis is more than just semantics. It represents an entirely different way for looking at the company.

Will Tesla Motors now officially change its name to Tesla? Don’t be surprised if it does. Perhaps for his next trick, Elon will convince Ford Motor Company to give up its rights to the name Model E?

 

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Tesla released the Cybertruck RWD to make the AWD look like a deal

Cybertruck LR RWD is effectively a $69,990 pickup that does not have 120V and 240V power outlets on its bed or 120V outlets in the cabin.

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Credit: Tesla

Tesla released the Cybertruck Long Range Rear Wheel Drive (LR RWD) recently, and it quickly received mixed reactions from the electric vehicle community. While the truck was praised for its long range, many argued that it was far too expensive due to the long list of features that it is missing compared to the Cybertruck All Wheel Drive (AWD), the mid-range variant of the all-electric pickup truck.

A look at the Cybertruck LR RWD’s pricing and features suggests that Tesla designed and priced the vehicle to push more buyers to opt for the Cybertruck AWD instead.

So Much Missing

The Cybertruck LR RWD costs $10,000 less than the Cybertruck AWD, but it is substantially less equipped compared to its mid-range counterpart. While the Cybertruck LR RWD’s slower 0-60 mph time, lower towing and payload capacity, textile seats, and fewer speakers are understandable, missing features such as the lack of air suspension, HEPA filter, and active noise cancellation make the vehicle truly a stripped down version of the all-electric pickup truck.

Considering that it is the most affordable Cybertruck available today, it would be fair to expect the vehicle to be geared for consumers who truly use their trucks for work. However, the Cybertruck LR RWD seems like a pretty expensive and under-equipped work truck, as it is effectively a $69,990 pickup that does not have 120V and 240V power outlets on its bed or 120V outlets in the cabin. It doesn’t even have otherwise basic Cybertruck features like the rear light bar, which is part of the pickup truck’s iconic, futuristic look.

Must Be Cheaper

The long list of missing features from the Cybertruck Long Range RWD has incited a lot of conversations among electric vehicle enthusiasts on social media, with some EV fans stating that the cost of the features that Tesla removed in the LR RWD seem to be worth far beyond $10,000. Others noted that with its (very) stripped-down nature, the Cybertruck Long Range Rear Wheel Drive should have been priced around $55,000, or at least closer to Elon Musk’s previous comments about electric pickup truck prices in the past. 

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Back in 2019, Elon Musk noted during an interview on the Ride the Lightning podcast that he believes consumers should be able to purchase a decent electric pickup truck for less than $50,000. “You should be able to buy a really great truck for $49k or less,” Musk stated then. 

The Cybertruck was ultimately unveiled in November 2019 with a starting price of $39,990. If one were to adjust for inflation, Elon Musk’s sub-$50,000 Cybertruck price estimate would be worth $62,811 today, which is roughly the price of the Cybertruck LR RWD with the federal tax credit. For context, the Cybertruck’s $39,990 base price during its November 2019 unveiling is worth $50,249 today if adjusted for inflation.

A Boost to Cybertruck AWD

One would not be faulted to speculate that Tesla released the Cybertruck Long Range Rear Wheel Drive as a way to encourage customers to purchase the more expensive Cybertruck All Wheel Drive. For just $10,000 more, after all, customers would be getting a substantially better-equipped vehicle with better performance and far more utility. 

It remains to be seen how well the Cybertruck LR RWD would sell, though considering its stripped-down nature, there seems to be a chance that the variant would follow the same path as the $35,000 base Model 3 Standard Range RWD, which was briefly sold but eventually retired due to low orders. What the $35,000 Model 3 did, however, was push a lot of sales of the Model 3 Standard Range Plus, which ultimately became one of Tesla’s volume sellers and is still in production today simply as the Model 3 RWD.

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RBC cuts Rivian price target to $10 ahead of earnings report

Rivian hit 8.6K deliveries in Q1 2025 and reaffirmed targets. RBC cut its price target, all eyes are on May 6 for Rivian’s earnings call. 

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RBC Capital cut its Rivian price target to $10 ahead of the automaker’s Q1 earnings report.

RBC Capital dropped its price target for Rivian Automotive from $12 to $10 per share, sticking with a “Sector Perform” rating as it braces for the automaker’s first-quarter earnings. The firm’s new Rivian price target includes predictions for a March sales bump tied to looming tariffs, though RBC cautions that earnings may not fully reflect trade impacts.

Rivian produced 14,611 vehicles and delivered 8,640 in Q1 2025 at its Normal, Illinois plant. The company held steady on its full-year outlook,  reaffirming its 2025 delivery guidance of 46,000 to 51,000. Rivian will release its first-quarter 2025 financial results on May 6 after market close.

RBC sees guidance shifts looming across the auto sector, possibly cutting estimates despite already lean consensus targets. It favors OEMs over suppliers amid macro jitters. The firm suggests tariff-free optimists could score big by betting on the “entire automotive group.”

According to GuruFocus, the average target price for Rivian is $14.54 with a high estimate of $23.00 and a low estimate of $6.10. Based on consensus recommendations from 31 brokerage firms, Rivian has a Hold rating on average.

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The shadow of tariffs looms over the auto market, yet Rivian’s output holds firm against peers like Lucid, which face similar headwinds. RBC notes, “guidance in the auto sector could experience alterations,” signaling volatility ahead. Rivian’s Q1 haul—while solid—won’t fully decode trade effects, leaving investors eyeing May’s update for clarity on its EV trajectory.

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Tesla Giga Berlin sets record for free EV charging park

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Credit: Tesla Manufacturing/X

Tesla Giga Berlin boasts the world’s largest free charging park.

Visitors to Tesla’s Gigafactory in Grünheide can’t miss the sprawling network of 546 charging stations peppering the parking areas, dwarfing other global contenders. The U.S. automaker’s setup snatched the title of the world’s largest charging park from a 259-station lot in Merklingen, Germany, per the German Automobile Association (ADAC).

Located off the A10 near Berlin, Tesla’s charging hub isn’t just for show. Tesla Giga Berlin’s EV charging areas feature 527 chargers in the south, 19 in the north, and 226 covered charging stations. The stations pack 11-kilowatt chargers, delivering up to 71 kilometers of range hourly.

Tesla’s covered EV chargers tap into hundreds of solar panels mounted onto the parking lot roofs. The American EV maker shared that with the solar panels, the covered EV chargers have a maximum power capacity of 1 MW.

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Tesla’s solar panel system eases concerns about its free charging straining local grids during peak demand. The Gigafactory’s charging hub serves practical needs and showcases Tesla’s vision for an EV-driven future.

Most of Tesla Giga Berlin’s stations are free for employees, visitors, and passersby. The only Tesla chargers subject to monetary charges are the Superchargers.

A Tesla spokesperson noted, “There is also a public Supercharger station, which is subject to regular rates.” The 19 V4 Superchargers, open to all EV brands at 250 kW, cost non-Tesla drivers 53 cents per kWh.

Last month, Tesla Giga Berlin produced its 500,000th Model Y unit after opening on March 22, 2022. It took the factory over 1,100 days to produce half a million Model Y vehicles. Compared to Giga Shanghai, Giga Berlin’s speed is lacking. However, Tesa’s factory in Germany has significantly contributed to the company’s goals since it started operations.

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