Tesla Motors Inc (NASDAQ:TSLA)’s CEO, Elon Musk mentioned in a tweet about unveiling the Model D Vehicle in October 9th Event. “About time to unveil the D and something else,” was his tweet. ‘Something else’ in his tweet has sparked a lot of speculations and rumors about the October 9th event. Though, Musk mentioned in another tweet that the interesting words in his original tweet were unintentional and he was glad about not mentioning the other letter. Bloomberg’s Ian King talked to Cory Johnson about mystery behind October 9th event on Bloomberg TV.
“There has been a lot of speculations and nobody really knows exactly what the full extent of the announcements is going to be, So we think we just got part of it so far,” King mentioned.
King added that Tesla Motors Inc (NASDAQ:TSLA)’s vehicles are basically expensive and are competing against BMW’s and Mercedes cars. Average cost of Tesla’s EV in the last quarter was $95,000, which is a clear indication that Tesla’s vehicles are indeed expensive. King mentioned that a lot of vehicles in that price category has ADAS (Advanced Driver-Assistance System), which has advanced features like Lane keeping, automatic parking and proximity indication with vehicles in front and back, etc.
King thinks that almost all the auto makers including Tesla Motors Inc (NASDAQ:TSLA) are moving towards the driverless cars technology. He stated an example of Audi Vehicle driving itself onto the podium in a recent conference. He added that there are a lot of regulatory issues and testing qualifications cleared before commercializing the driverless cars technology.
King mentioned that Musk has publicized Tesla Motors Inc (NASDAQ:TSLA) as a technology company. He mentioned about the 17” touch screen display in Model S car, which was a part of the last generation for entertainment stuff. He feels that the other auto makers have already passed that generation and moved onto the next one ahead of Tesla.
King was extensively involved in reporting about chip makers, but now he has jumped into the auto makers. King thinks that Chip makers are looking up to Auto makers for the business. He added that the companies like nvidia and Intel Corporation (NASDAQ:INTC) are selling hundreds of electronic equipment’s to the auto makers these days.
Johnson mentioned about using nvidia graphics processors and powerful computers in vehicles these days. King said that at the high speeds, you need high tech electronics to process images quickly and send the signals back to cars for proper response.
King said that the announcement on October 9 might let the world know, if Tesla Motors Inc (NASDAQ:TSLA) will just catch up with the competition or leapfrog them with advanced technologies.
As of 30 June 2014, Ken Griffin’s Citadel Investment Group hold around 46.5 million Tesla Motors Inc (NASDAQ:TSLA) shares.