but again, i think people judge tesla and elon musk has said in stone, if you judge tesla on what they are today, it's widely over valued. the right way to think about it, though, if you were to give elon musk $20 billion to go in a room and come out and see what it could create, versus giving a ceo $20 billion. who do you think could create more value? >> it's interesting. >> in real yvette $50 billion and it's done. so that is one conclusion and that's one of the things again they probably need to talk about today is how much they'd do it alone. >> right. >> versus partnerships. >> good to see you. adam jonas, morgan stanley. >> what's great, listening to adam. i think he provides rationality with the big picture thought. with i is clearly what's out there. the must have element for the stock for investors. the real question is, is this a must have? do one of the big tech guys have to answer this company? i actually think the big three are in position. they see transportation as a service, as a business, they have an entitlement and a right to and a business they're going to be n. i'

tesla, specifically.ll us whether that's going to be the key to electric vehicle outright dominance for this business visionary. countdown coming right back [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. liz: we've got to get to tesla stock. there is no sign at all of elon musk's electric empire slowing down any time soon. in part due to two big stories right now. dueling tesla stories at this moment are floating the stock to the skies. after an n tsb investigation found tesla not guilty in the fatal 2016 crash that involved a driver using autopilot. the ntsb concluding that the driver ignored multiple safety warnings to keep his hands on the steering wheel.

. >> tesla has replaced its chief of self-driving software after just six months on b job. that is a critical part of the carmaker's future. elon musk said he wants to demonstrate that a tesla vehicle can drive itself by year's end. >> there are also reports that demand for tesla vehicles in china is growing and that they're close to make iing a bi push into that country, as dem grow, so does the competition. >> this is ep 9 super car. the it's the brain child of chinese start up neo. but before you dismiss it as just another chinese company hoping to rival tesla, consider this. it's supporters are some of the biggest names in chinese tech. the founder of ten cent, jd and show me and it just got a round of investment from buy do. i spoke with the chairman of the company who told me why he believes his cars would pose a serious threat to tesla in china. >> for tesla, i always say that cars are designed in california for california. but in china, they might not fit demands. for example, the very cool falcon wing doors mig not be suitable in rainy chinese cities. we on the oth

tesla is not in the s&p. if it were in the s&p. well, it doesn't matter. tesla is up here yes? number one performing stock bar none i think at this point you take profits or if you've got a little courage you go short. >> mike, how are you treating tesla? >> i don't need to talk about the fundamentals i think what we're going to do here is just sell the july 3.75, 3.95 call spread if the stock stays here you're going to collect the $8 in premium that you would get for selling that and obviously even if it does continue to rally, we can debate about whether or not there's a risk to that but this is a technical trade the most you're going to risk is $12 but only if it does that all the way through expiration and you were to hold it so i think this is basically the way to take a short bid on the stock. >> and mike is using july so he's playing for a consolidation or kind of a slight move lower if he really thought this thing could go all the way back to that breakout level, then you'd be actually looking to commit some premium and buy a put or a put spread or something like that a

betty: we will have the latest on that tesla story. tesla trying to save taxes. this is daybreak asia coming to you from bloomberg's asian headquarters here in hong kong, where it is just after 7:00 a.m. i am betty liu. yvonne: i am yvonne man. eyes are glued on china for the next 24 hours. not only do we have this msci decision, but we will hear from the pboc governor as well. we do not hear from him too often, but it will be interesting to get his take now that it seems like the pboc is parting ways with the fed. they held off on raising those borrowing costs after the fed raised rates last week. betty: a lot on the agenda as you mentioned. we will be going through a lot of big corporate stories, including that story on tesla. everybody focused on the chinese market and tesla being a tech movie has been a big today. how much -- a big mover today. how much of the impact will be on the asian markets? yvonne: a pretty big boost so far in new zealand. the nzx 50.% on the kiwi at 7224. watch the body lenders today after that meeting these downgrade -- after that moo

we have some more news, and it is a sigh of relief for tesla.tors say the company is not to blame for the death of a man who died in a crash while driving its s model in semi-autonomous mode last year. the ntsb says that the autopilot system, the driver only had his hands on the wheel for 25 seconds. that is despite seven warnings to return his hands to the steering wheel. another government report has also found that tesla's system was not to blame for that crash. back over to you in new york. what is the market reaction to that? >> well, i mean, at least when the market opened, we saw a good 2% gain in the stock of tesla, even if we did not close on the day on high. the question is, was that really a response to this report, or was it because it is some speculation that may be even this week tesla may announce to start its first production in china? there we are again. in the last year, revenue in china for tesla has more than tripled, but exporting cars to china, there is a tax of about 20% to 25% of producing cars in . producing cars in chin

tesla slayers up 5%.g on a tear this week this as ron behrend says the stock just started an epic run >> at the beginning of the year, one executive tesla asked me what i thought the stock was at 200. >> below 200. >> he asked many ewhat i thought the stock would do this year i thought with the introduction of model 3 wore 3 dri350 or 400 i think it will be a through in 2020 >> big words from ron baron. >> if you were playing this an auto delivery this car is this story this is why this is so inconsistent to me. >> i get why people are so excited about tesla. it's a trillion dollar new age, it's disruption. it's autonomous. it's transports going out to the whole sector with a trillion dollars as stake and questions it's not about the models. >> i think that's why it has rallied. you named five or six different things. >> i agree, it's an automobile company. i think people wait on automobiles on a refresh cycle it's like buying your laptop, it's like buying your phone. >> yes, yes, eighth great name. >> ho

that's the best part about the tesla annual meeting. questions, m mixed in with othe questions expected. muff is going to get a number of questions regarding model 3. production scheduled to start next month, first deliveries before the end of the year. give us more guidance in terms of how things are looking as they prepare for the launch of production and how they plan to education cproduction in the year. talk about the giga factory, solar roof installation, and a question about a future product. that's the fun. that's where he drops in a reference to a product. >> exactly. >> like, okay, that's something to talk about. >> i hope he talks about the boring company. this is not the place, but i'm very bullish on that. i want him to bore under the entire country and let us travel around in high speed tubes. that might be a few years off. >> sounds wonderful. >> phil, thank you very much. >> you bet. >>> macy's shares lower after warning of shrinking profit margins, how the new ceo is trying to turn it around. first, why tweeting late at

coming up, elon musk tweeting something that could have tesla soars next week. plus, nike's nightmare over? the stock having its best day in almost three years is it too late to buy? and it's fourth of f july weekend and some of the most patriotic stocks are soaring much more after this tr did you know slow internet can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything. comcast business offers blazing fast and reliable internet that's up to 16 times faster than slow internet from the phone company. say hello to faster downloads with internet speeds up to 250 megabits per second. get fast internet and add phone and tv now for only $34.90 more per month. call today. comcast business. built for business. . >>> welcome back tesla fans giddy over a tweet by elon musk today about the highly anticipated model 3. hi, phil >> he certainly knows how to send out the teaser tweet and that's what he did this morning. he had been asked specifically by someone on twitter, hey, give us details about the final unveil of the model 3 an

news on tesla.be close to an agreement to produce vehicles in china for the first time. news on tesla. it would allow the company to avoid an import tax and price cars more competitively in the auto market. joining us now to discuss is our tech reporter who covers tesla. imminentis an announcement for tesla to produce vehicles in shanghai. we are hearing this from china. not a lot of details on who the partner would be but this would be a huge move for tesla to become a global automaker. emily: how significant is this? dana: pretty significant because right now auto companies cannot produce in china unless they have a local production partner and without that it is high. having a local partner would allow tesla to access china. could how big of a market china be for tesla? dana: we are seeing signs that sales of the model x are doing really well. in the wake of the paris agreement, china is the leader on climate change. emily: also, there are two upcoming spacex launches. what can you tell us? dana:

i don't know if that's in the business model of tesla, but whatever >> tesla does this then it's jumping the shark? >> i don't know. i really don't know where their head is at with this what i do know a couple days ago they announced they might start to manufacture cars in china, saw the after hours moving that day. now you see what do you do with the stock here, and i'll say it again, i still think you stay with this name the path of least resistance continues to be higher, a lot of doubters in the name we can have all the reasons why the stock continues to go lower, but they've existed for the last two years. you say to yourself maybe there's something more to the story than we give it credit for. >> technology company, auto company, now a music streaming company. >> does it matter? this is what they say about that they want to provide the best in-car experience for the customer to maximize their happiness. >> one thing, though, what it is, it's a stock with a 24% shortage guys flag this, as long as that short interest stays in the 20s, it's very difficult. very difficult >> short inte

emily: how big of a market could china be for tesla?ng signs that sales of the model x are doing really well. in the wake of the paris agreement, china is the leader on climate change. especially when it comes to automobiles. emily: also, there are two upcoming spacex launches. what can you tell us? dana: the next one is the bulgaria satellite. the launch has been shifted around but it is now scheduled on friday from cape canaveral. on saturday, they will launch satellites. they could potentially have two back-to-back launches from either coast. emily: what is the significance of these launches? dana: what you are really seeing is spacex has come back from the mishap of last september and they are launching rockets on a regular basis. they want to launch 24 rockets this year. if they get that, that would be incredible. emily: what are they expecting? dana: launches could shift a lot because of last minute issues or the weather, but if they launch one rocket from florida on friday and another rocket from california on saturday, that is p

what did you see >> so, can talk about tesla.a, i've been going, we've been investing in tess what for 3.5 years i bought a million six shares. average price of $208, $210 for 3 1/2 years. in fact, last year the stock was down 11% so the background on that. we manage $23 billion. in 1992 we had $150 million. now $23 billion, and since 1992, 25 years we made over $20 billion in profits and of that 20 billion in profits, 11 billion has come from 15 stocks the other 10 or 11 billion has come from the rest of our stocks so in the case of tesla i have this long-term view, 15 years we're going to make 30 times our money. 20 times our money i don't know but so we've been investing for 3 1/2 years, and for the first 3 1/2 years takes me awhile to buy at the right price, bought the stock at an average price of 208, 210, and i just said last year was down 11%. this year the beginning of this year, one of the executives at tesla asked 3450e what i thought the stock price would do this year and i told him i thought that considering that this

if it were in the s&p, it doesn't matter, tesla is up here yes. number one performing stock bar none i think at this point you take profits or you go short. >> good stuff, carter, thank you. >> i don't need to talk the fundamental also that's been talked to death. we will settle the july 375, 395 call spread, basically leaving the stock to stay, you will check the $8 in premium you will get for selling them and obviously, even if it does continue to rally. we debate there is a risk. there is a technical trade t. most you will risk is $12, only if it does that all the way through expiration, you were to hold it. so i think this is basically the way to take a short bet on the stock. >> i think it's important to remember, mike is in july here, he is playing for a consolidation or a slight move lower, if you thought this thing can go all the way back to that breakouts level to 320 or something like that, you would be looking to schmidt some premium and buy a put or a put spread or something like that. >> to me if you want to do that, you'd look to aug

. >>> a sneak peek into tesla's new car. the model three is on the test track and there is word now all when the first model threes will be delivered>>> privatizing a piece of the airline terminology. >>> clients roots of the hillside their highway 24 causing massive traffic backups this afternoon. a look at the progress firefighters have made. >> it's warming up out there. temperatures got into the upper 80s. warmer in a couple days and i will have the details. you're going to be hanging out in here. so if you need anything, text me. do you play? ♪ ♪ use the chase mobile app to send money in just a tap, to friends at more banks then ever before. you got next? chase. helping you master what's now and what's next. >>> officials confirmed that president trump will not block former fbi james comey from testifying on thursday. the senate intelligence committee wants to know more about conversations between comey and trump that relate to the russian probe. sources have leaked to the media the president's comey to drop the investi

i think the best toyota did under the old union plant was 250,000 cars per year. >> they say tesla is full of surprises. experts at spec the first -- experts expect the first model 3 to be ready ahead of time. betting against elon musk is on a winning proposition. >> the first delivery is set to go to employees later that same month. in fremont, and ruben, ktvu fox2 news. >>> a couple from richmond who say they're carful of baby supplies was stolen last week , they have become a mom and dad. the couple welcome tristan lloyd into the world yesterday. he weighed seven pounds and eight ounces and his parents say he's happy and healthy. we told you last thursday how they lost their baby gear when the car was stolen. the chp was among those who jumped in for a new car seat and parents tell us they are grateful for the support of mom.>>> all lanes on highway 24 are open once again after a fire caused a massive backup. the flames spread to the hillside along was found 24 and burn about 25 acres. the chp was forced to close the highway as crews worked to put out the fire. one firefighter suff

the biggest names in business giving their views on china tesla -- and tesla, but the focus is on trump. to the north star inc. chairman. some of the comments coming through, he says the first year of any president's administration is chaos, but he manages chaos when it comes to the private sector, and he's doing an amazing job in a difficult situation. let's get it over to this conversation w. >> because he wants it the way that is. in other words, death by a thousand leaks is a consequence of attacking the institutions. when you attack the cia and fbi, and you attack congress, and you attack the diplomatic corps in the state department, all the protectacy can do is itself. within the white house, actually, things are actually running pretty well. all of the rhetoric between jared, he's 36, he's an unbelievably soft, considered, thoughtful mind, and a trusted advisor to the president. gary cohn, you couldn't have a in theadvisor -- adult sandbox. if you can run goldman sachs, you can run the economic piece of the white house.reince priebus knows the hardware and the plumbing of washing

. >>> a new look at tesla's model 3. why they say the new car is ahead of schedule. >>> we will talk about that rain chances as well in the forecast. police in orlando say an angry former employee walked into a factory with a gun and just started shooting. caroline say that investigators are try to find out what prompted the man to open fire and killed five people and take his own life.>> reporter: witnesses describing the moments after shots ring out in a factory monday. >> i was working right behind all these buildings when i heard the gunshots. >> i was hoping for the best. >> reporter: a former employee killing five people and then taking his own life. >> he was certainly -- >> reporter: the army veteran had been fired in april. he was accused of battling with a coworker but no charges were filed and that coworker was not among the victims. smacked we have no indication that this subject is a participate in any type of terror organization. this is likely a workplace violence incident. >> reporter: this at increase in

rishaad: let's have a look at tesla. close to agreement to produce vehicles in china for the first time it would allow the electric carmaker to avoid import tax and prices to be more competitive in the world's biggest auto market. tell us about this deal. what do we know so far? reporter: we know this is something tesla has been aiming for for a long time. it's something you need to do if you want to be an automaker in china. you need to produce locally, because otherwise you are not competitive. otherwise, there's a 25% tax. it is something we know they have been trying to do. --don't know who there's their partner will be. rishaad: there has been talk recently they might be getting rid of it. reporter: that might be helpful top, part of -- rishaad: anyway, they need one now. reporter: you need to have a local partner and you need to be on the ground if you want to be able to avoid the tax. haidi: they've got a pretty good thing going by partnering with tencent. that's a powerful partner to have in the chinese market. t

repairing tesla cars is more expensive than comparable vehicles for tesla issued a statement saying aaa's data is wrong. >>> a bus company has applied for a self driving vehicle. bowers intelligence transport theories silicon valley workers and others around the bay area. they are now 131 companies with permits from the dmv. it is not clear if they will test the self driving technology on cars or buses. >>> a federal judge in illinois has ordered satellite tv company dish network to pay $280 million for making unwanted telemarketing calls. this is the largest penalty for telemarketing ever. the judge says dish had broken the do not call law millions of times. this ruling calls for the money to be split between the federal government, california, and three other states. dish network says it will appeal the company says the penalties are too large and is being held responsible for telemarketing that was done by contractors. >>> the countdown is on to the 2017 outside lands music festival at san francisco's golden gate park. >> ♪ [music] ♪ >> some of the bands played -- playing will include

tesla up 70% as you mentioned in the beginning this year. a lot of news coming this weekend and then in july, a lot moves to from tesla as they begin the ramp-up of production and deliveries of the model 3. >> when i heard the news was going to be out on sunday about the model 3, i immediately thought, the delivery numbers will be out this weekend, too. it would be smart for tesla to release good news along with some potentially bad news. >> i've heard more than a few people suggest that as well. our analysis for what it's worth, in talking to people who track it closely, they believe that tesla is likely going to be coming in at around 23,000, 24,000 vehicles delivered. combine that with 25,000 in the first quarter and they'll come in, what, maybe 49,000 or 50,000 so, look, even if it's 1,000 or two short, you know this, melissa. nobody is really focused on deliveries right now what they're focusod is what happens with the model 3 >> thanks, phil. >> cynicism, melissa >> i can't help it, sorry. >>> the fight over minimum wage. does raising

we will find out about tesla.y seem to be a lot of investors willing to give him more money to do science experience or whatever he is doing. how much commitment do you have to do when you go short on something like tesla? that can get painful. >> tesla is one of many things we have in our bubble basket of stocks we think are mispriced by huge amounts. they are sized in a way that gives us the ability to wait a fair amount of time to be proven right or wrong. i think eventually the mood of the market will change. eventually the company will be called into account to demonstrate profitability. i don't know when that will happen. the portfolio is positioned properly relative to the risk and reward. emily: that was david einhorn, cofounder and president of greenlight capital speaking with david westin earlier. t-mobile is setting the stage for a possible merger with sprint. t-mobile executives have been meeting with investors to talk about the billions of savings if the deal happens. discussions are still at an early

emily: how big a market to we think china could be for tesla?e are already seeing signs sales of the model x are doing well. we came out with a model with a filter for climate control. china is the leader on climate change especially when it comes to auto. emily: there are two upcoming spacex launches. what can you tell us about those? dana: the next is a communications satellite scheduled for friday from cape canaveral in florida. on saturday they are going to iridiumatellites for from brandenburg air force base. is the significance of these launches given the challenges spacex has had? back fromex has come the mishap of september and they are launching rockets on a more regular basis. their goal is that -- is to launch 20-24 rockets this year and that would be a pretty incredible launch cadence. emily: talk to us about what we are expecting. dana: launches can shift a lot because of last-minute technical issues or the weather and permission from the air force. if they launch one from florida on friday and another from california on saturday, t

emily: tesla already has cars on the road.othing as far as we know. >> but tesla has done that in an unsustainable way financially. at some point they have to make enough cars to be profitable. until then they can make a lot of claims but nothing looks sustainable. a lot of what they have got accomplished other players can do as much or more. they are just as capable as tesla is. emily: what about a company like gm? what does it mean for a more established automaker trying to take on these tech giants? >> that is a great move for general motors. ultimately you need the three major elements of this to work. you need the car with a lot of internal space. you'd need the technology that directs the car when there is no human involve. gm has the car and a lot of the work on the technology. they can partner to get the rest of the way. the third like is the regulations and the government helping it all come together. that one is harder to predict. if those three things come together things will happen quickly. gm is a long way along

. >> it comes more than a year after tesla made a big splash. it allows drivers to take their hands off the steering wheel for short periods of time. >> this is a shot across the baugh of tesla, which already has autopilot. cadillac is really trying to take tesla on in that category of technology. >> cadillac believes super cruise raises the bar compared to tesla's autopilot. >> the other systems out there rerequiring -- with suh u per cruise technology goes on sale this fall and while the company has not said how much it will charge for this feature, cadillac believes it will be in demand by drivers who would like to go hands free. >> that's "nightly business report." thanks for joining us. >> thanks from me as well and . this. wned. this is bbc world news america. funding of this presentation is made possible by. the freemen foundation. and coal fuller foundation pursuing solutions for america's neglected me. planning a vacation escape that's relaxing inviting. and exciting. is a lot easier than you think. you can find it here in aruba. famili

tesla up 69% year to date., by the way, we're going to tell you what's boosting tesla higher in just a few minutes. oh, yes, elon musk strikes again. stick around for that. and now let's check out some of the names that were not so popular at all with investors. in fact, they went fleeing. biggest drag on the dow for the first half came from verizon down 17%. s&p component frontier falling a stunning 66% even with a strong dividend pay there. and that of course on the nasdaq, tractor supply was the biggest loser. and those are the individual stocks. you'll never guess which sector wins the oscar for the best performer of the year. drum roll, austin. okay. not quite. sounds like a very bad engine. >> i tried. liz: tech, more specifically, social media in the tech world. and if you're the proud owner of the social media etf, you're looking at a gain of more than 30%. not bad at all. okay. as we celebrate the end of the first half of the year, tech and health care as you know were the true firework investments tha

. >>> still to come, a milestone for tesla.lectric carmaker celebrates a first in safety for its suv. i. that wasn't fair to any of us. i was covered. i tried lots of things over the years. but i didn't give up. i kept on fighting. i found something that worked. that still works. now? see me. see me. i found clear skin that lasts. see if cosentyx could make a difference for you- cosentyx is proven to help people with moderate to severe plaque psoriasis... ...find clear skin that can last. don't use if you're allergic to cosentyx. before starting cosentyx, you should be checked for tuberculosis. an increased risk of infections and lowered ability to fight them may occur. tell your doctor if you have an infection or symptoms. or if you have received a vaccine or plan to. if you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen. serious allergic reactions may occur. see me to know... ...clear skin can last. don't hold back... ...ask your dermatologist if cosentyx can help you find clear skin that last

tesla has not publicly commented. look at the stock.hares are up about 2.7% in early trading. >> landon, thank you very much for that >>> more stocks to watch this morning. century link facing a class action lawsuit seeking up to $1 billion. the complaint is looking to establish a group of consumers harmed by an alleged high pressure sales culture this comes just a week after the company was sued by a former employee for allegedly running a sales incentive scheme and firing her for drawing attention to it. stock down 1.2%. >>> shares of chipotle taking a hit this morning the restaurant warning investors it will be spending more on marketing and promotions for the second quarter that stock down about 2% >>> whole food shares continuing to rise amid speculation of a bidding war. the company's stock skyrocketing on friday on news that amazon agreed to spend $42 per share for the supermarket chain. will there be another buyer? that's the question. >> a nice bump over the week. >>> coming up, the battle for ad dollars. google and face book m

. >>> plus, new details on a fatal tesla crash. we have the data. we'll tell you all about it coming up in business news. who are these people? the energy conscious people among us say small actions can add up to something... humongous. a little thing here. a little thing there. starts to feel like a badge maybe millions can wear. who are all these caretakers, advocates too? turns out, it's californians it's me and it's you. don't stop now, it's easy to add to the routine. join energy upgrade california and do your thing. the n-t-s-b has opened up the files of that terrible crash of a tesla in florida last year. that crash killed the driver. =sam/anim= scott mcgrew.. investigators had already concluded: he wasn )t paying attention. take pkg outcue: kris and sam trt: 1.05 when its tesla drove straight into the side of a truck back in may of 2016. now, the ntfc had already ruled that brown was not paying attention at the time, exoner e exonerating tesla. but investigators just opened that document up to the public. more than 500 pages so we can see wh

coming up, tesla goes global.ompany ramping up its presence in china with an agreement to produce cars in the country. and later, blue apron announces details of its ipo plans just as the food startup scene was thrown through a loop on the amazon-whole foods deal. we will break down how the competition in food delivery is heating up. this is bloomberg. ♪ ♪ emily: tesla has signed a preliminary agreement to explore production in china. according to people familiar with the matter, the electric carmaker reached a deal with the city of shanghai. it would move tesla a step closer to lowering its manufacturing and shipping cost in the world's largest auto market. bloomberg reported this on monday with our bloomberg tech reporter dana hull. dana: it sounds like there is an imminent announcement for tesla to produce vehicles in shanghai, and we are hearing this from china. not a lot of details yet on who the partner would be, but this is a huge move for tesla as it seeks to become a global automaker. right now, they have

and more importantly, the raw data from the tesla sensors.see the output, the warnings sent to the dash board at least seven times that tesla alerting the driver his hands were not on the steering wheel. but he ignored them. tesla since made several changes to its auto pilot system. switching from a camera over to radar and more importantly if you ignore the warnings to touch the steering wheel, the car will now turn the auto pilot off. >>> dow 30 industrials and s&p 500 both closed at record highs on monday. the nasdaq did very well, reversing recent losses. apple had a day in a long time. now, the gains come investors are convinced that washington is going to push tax breaks through. speaker of the house paul ryan will reinforce that belief today promising the house is close to a tax but bucket of cold water here, only one-page proposals of the white house and little else. the president tweeted that tax cuts are coming. did so in february and again in march and on sunday and again, in order to pass something through congress, you have to ha

obviously, tesla is more upscale when we compare the two.le more cost on the powertrain. we assume they will have a nicer interior. given the price point, it is probably going to be more like $42,000, $43,000 with all the options, which will be sort of closer to a bmw three-series. emily: you guys estimate gm is losing $7400 on every car. there are estimates that tesla will be losing $2800 on every model three. how do they stem these losses? how do they close that gap? colin: the big driver is going to be battery cost. also today realize we are assuming gm is only going to sell around 30,000 bolts a year. a very low number. so the r&d costs are really spread off over a lot of units. the big driver going forward is going to be that their battery costs are going from over $200 per total kilowatt hour today, and we estimate it will be around $130 per kilowatt hour. there are massive declines in battery costs that are a key driver. we are also assuming there are certain components that have a good step function coming down on the ev powertrain t

. >>> toyota quietly sold its entire stake in electric carmaker tesla. it marks the end of a partnership between the two companies which was first announced back in 2010. toyota's stake amounted to just under 1.5% of tesla as of last summer. the japanese automaker said the sale was part of a regular review of its investments. >>> by the way, if you own a tesla, you may start paying more for insurance. national insurer aaa is reportedly raising its prices for tesla's model s and x, citing higher than average claim rates and repair costs for the two cars. according to automotive news, premiums could increase by as much as 30%. >>> thousands of doctors, researchers and medical company executives are meeting at the biggest cancer research conference of the . and this year there's a big shift in the way cancer is being targeted. meg terrell is in chicago. >> reporter: for decades, cancer has been treated with surgery, radiation and chemotherapy. but in recent years, major strides are being made in targeting drivers of cancer more precisely. the benefits for t

saying brown was not paying attention and is exonerated tesla. but just monday investigators opened the docket more than 500 pages we can see what's inside. new pictures of the car after the accident. and more importantly, we have raw data from the tesla sensors. you can see repeated warnings, sent to the dash board, at least seven times that tesla alerting him his hands were not on the steering wheel tesla's made several changes to the auto pilot system switching from a camera based system to a radar based system. more importantly, if you ignore the warnings to touch the steering wheel, the car will turn itself off. the dow 30s closed record highs on monday. nasdaq very well reversing recent gains. apple with a best dwa of a long time. the gains as investors convinced washington's going to push tax breaks through. >>> speaker of the house paul ryan will reinforce that idea today in a speech promising the house is close to a tax bill but all we have seen is one page of proposals from the white house. little else. the president has tweeted tax cut

tesla shares down by less than a point. >> been a crazy run.ays going to start talking about the next thing. >> the next thing. the question is can he deliver by those target debates. >>> less than 24 hours until the polls open in the u.k. general election. let's get back to will fred live in london with the story. willfred? >> reporter: thanks, sarah. i'm joined by anatol kalatsky. thank you for joining us. >> good morning. >> reporter: first question has got to be how has theresa may let this huge lead she had slip? >> i think by -- mostly by being out in the country and letting people get to know her better. she is a very awkward personality as an individual which many people in her office and cabinet will attest. she keeps herself to herself. she doesn't allow others to take part in decision making, she's not a goodell will he gate del indecisive and unwilling to change her mind as we saw with the so-called -- with the so-called tax on dementia. and as a piece in the f.t. said a week ago, she's one of the few politicians where you can say t

the stock today for tesla? 353.e two companies that are competing. detroit versus silicon valley and how it all comes together. tim higgins, thank you for your time. >> thank you. lauren: the closing bell ringing in less than ten minutes. up next market maven sean o'hara, saying even though the iron is hot, there is one stock you must strike right now. bye, bye, bye -- buy, buy, buy, what is that stock? extra $1000 lying around? "countdown" coming right back. i use what's already inside me to reach my goals. so i liked when my doctor told me i may reach my blood sugar and a1c goals by activating what's within me with once-weekly trulicity. trulicity is not insulin. it helps activate my body to do what it's supposed to do release its own insulin. trulicity responds when my blood sugar rises. i take it once a week, and it works 24/7. it comes in an easy-to-use pen and i may even lose a little weight. trulicity is a once-weekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes when

in china, teslas are subject to import taxes that can make a $68,000 car cost over $100,000. the company did more than a billion dollars in business in china last year. most of its production will stay here in the u.s. >> speaking of tesla, also considering launching its own streaming music service, according to the tech site recode. according to the site's sources, the company has already spoken with several major labels about acquiring the rights to stream songs. the product could offer a tiered pricing model with customers able to choose their features. no word yet on if you would have to actually own a tesla to enjoy the service. >> apple's latest operating system, ios 11, rolled out, and includes a feature to make our roads safer. when activated, the do not disturb when driving mode will tell if you're inside a vehicle to see if your car is linked to the car by usb or bluetooth. anyone who texts you will get an automated response saying i'll see your message when i get where i'm going. your phone will still be able to give you driving direction and play music. >> the war

the base tesla model three will be $35,000. the volt with base will be more like $30,000.rice points. the range will be very similar, both will be over 200 miles. obviously, tesla is more upscale when we compare the two. we put more cost in the powertrain. they will have a nicer interior. given the price point, it is probably going to be more like $42,000, $43,000 with all the options, closer to a bmw three series. emily: you estimate gm is losing $74,000 on every car. there are estimates that tesla will be losing on every model three. how do they close that gap? >> the big driving forces -- the driving force will be battery cost. there's only going to sell around 30,000 volts a year. a very low number. the r&d costs are really spread off of a lot of units. the big driver going forward is going to be battery costs are going from over $200 per total kilowatt hour today, we estimate it will be around $130 per kilowatt hour. we also assume certain components that have a good step function coming down on the ed -- on the ev powertrain that will help in above average decline on

obviously, tesla is more upscale when we compare the two.sts in the powertrain and assume they're going to have a nicer interior given the price point, probably going to be more like $42,000, $43,000 with all the options, closer to a bmw three series. emily: you estimate gm is losing $7,400 on every car, there's a slew -- estimates that tesla's will be moving -- losing on every car. how do they close that gap? >> the big driving forces battery cost. sell's only going to around 30,000 volts a year. the r&d costs are really spread off of a lot of units. the big driver going forward is costs aree battery going from over $200 per total lower today, we estimate it will be around $130 per kilowatt hour. we also assume certain components that have a good step function coming down on the ed powertrain that will also help in above average decline on the ev powertrain as well. that's from a $9,000 cost premium just a $3000, $4000 cost him him. when you contribute to the total cost of ownership, lower fuel, lower maintenance, the economics , especially

it's all good news for tesla's ceo, elon musk worth more than $17 billion. >>> despite tesla's successtech sector as a whole is in a bit of a slump. joining us now with details kcbs radio's financial reporter jason brooks. >> reporter: good morning. tesla is one of several big tech firms that have hit record highs for their stock in 2017. it could add apple to that, you can add google, netflix and facebook. and that's really had an impact on the stock market. leading the overall market higher and now we have profit- taking as a number of investors seem to think these prices are from they. tesla shares this morning are down over 3%. once again, the nasdaq is getting hit hard for the fourth time in five sessions. bit of economic news to pass on, too. the labor department says initial jobless claims fell by 8,000 to 237,000. continuing claims are down over 10% from a year ago to under 2 million. the longest such streaks in over four decades. but the overall market this morning is heading lower once again techs leading the way down. let's go to the big board and see how we're doing so far.

there are estimates that tesla will be losing $2800 on every model three.they close that gap? >> the big driver is going to be battery cost. that is assuming gm is only going to sell around 30,000 bolts a year. a very low number. the r&d costs are really spread off of a lot of units. the big driver going forward is going to be that battery costs are going from over $200 per total kilowatt hour today, we estimate it will be around $130 per kilowatt hour. there are massive declines in battery costs that are a key driver. we also assume certain components that have a good step function coming down on the ev powertrain that will help in above-average cost decline on the ev powertrain as well. that narrows the gap from a $9,000 cost premium today to just a $3000 or $4000 cost premium by 2025. when you contribute that to the total cost of ownership, lower fuel, lower maintenance, the economics, especially in europe when gas prices are higher makes a lot of sense. emily: what is your projection for the growth in the ev market in general as a result of the bolt? >>

. >>> new details about a promised suv from tesla. during their annual shareholders meeting yesterday the company teased to the public with this image of the upcoming model why electric suv. shareholders also heard more about the model three, tesla's first mass-market electric car. the company says it will make 5000 sedans each week by the end of the year. the starting price is around $35,000. 2020 is a targeted release date for the upcoming suv. >>> at least one insurer is set to raise ray for tesla drivers. automotive news reports that aaa says premiums could go up by as much as 30 percent brick it seems repairing tesla cost more than other cars. tesla owners file insurance claims more frequently than owners of comparable vehicles. tesla has issued a statement saying the aaa data is wrong. >>> the bus company has applied for a permit to test self driving vehicles. bowers intelligent transport operates shuttlebus or. -- shuttlebus is. they now have permits. it is unclear if bauer will test self driving technology on cars or buses. >>