musk's company is of course listed tesla must needs to make a bold call on tesla as model three before it is too late production hell as elon musk calls it has reached a new level of blazing discomfort at tesla last. the company reported that had fallen well short of his delivery goals for the model three the thirty five thousand dollar car that is supposed to transform tesla from a nice player to the dominant force in the new age of electrified automobiles so they did manage to deliver one hundred thousand cars in twenty seventeen which is a new high for them but we're going to go into how comparing them to the other big auto companies well it's an interesting kind of model he has there because he's using the pre-sales on the on the the model three and these cars to kind of keep the company afloat in terms of cash because they burn a lot of cash so he's making a bet that eventually these two things work out and he starts to have some organic growth and which is not a bad bet to make i mean i work for jeff bezos you lost money for many many years building their brand building their fra

musk's company is of course listed tesla must needs to make a bold call on tesla as model three before it is too late production hell as elon musk calls it has reached a new level of blazing discomfort at tesla last. the company reported that had fallen well short of his delivery goals for the model three the thirty five thousand dollar car that is supposed to transform tesla from a nice player to the dominant force in the new age of electrified automobiles so they did manage to deliver one hundred thousand cars in twenty seventeen which is a new high for them but we're going to go into half comparing them to the other big auto companies well it's interesting kind of model he has there because he's using the pre-sales on the on the the model three and these cars to kind of keep the company afloat in terms of cash because they burn a lot of cash so he's making a bet that eventually these two things work out and he starts to have some organic growth and which is not a bad bet to make i mean i work for jeff bezos even with that lost money for many many years building their brand building

max: tesla to justify -- for tesla to justify this enormous valuation, it needs to be a mainstream car company. it needs to produce these mass-market numbers. not just a justify the valuation, but to meet the ambitious goals that elon musk has set for himself and humanity, as he would put it. if you want to get us off of fossil fuels, you need to get the cost of electric cars down. goodo it is all well and to sell $100,000, $120,000 luxury suvs, but if you really want to make a dent in the universe, so to speak, then you need to sell these mass-market cars. emily: and still, analysts are saying tesla is way ahead of the competition. put this into the broader context for us. max: any problem that elon musk and tesla are going through at the moment, his competitors are going to have to go through it. what tesla has said is one of the big problems happening is at the giga factory where they are making these battery packs. you have to assume that any other company that wants to make a mass-market electric car is also going to have to deal with battery production issues. so the bet would so

they have some minority stakes of spotify, tesla. that is probably the approach they will be taking. emily: bloomberg's lulu chen, thank you so much for that update. that does it for this edition of "bloomberg technology." a reminder, we are livestreaming on twitter. check us out, @technology. that's all for now. this is bloomberg. ♪ is this a phone? or a little internet machine? it makes you wonder: shouldn't we get our phones and internet from the same company? that's why xfinity mobile comes with your internet. you get up to 5 lines of talk and text at no extra cost. so all you pay for is data. see how much you can save. choose by the gig or unlimited. xfinity mobile. a new kind of network designed to save you money. call, visit, or go to xfinitymobile.com. >> 7:00 a.m. here in hong kong, we are live from bloomberg's asian headquarters. i'm yvonne man. the bulls still running. asia-pacific markets extending gains on wall street.the snp topped 2700 for the first time . stocks were lifted by confirmation that the fed was only grad

tesla already has claimed a big chunk of the luxury car market. the real question is, after you get into the mass market $35,000, $40,000 range, whether the company can do things the car companies have been able to do. elon musk has done a fantastic job of getting analysts, getting everybody to see this as a bet on the future. the future gets closer each quarter, and each quarter that tesla isn't able to get this mass-market electric car we have been promised, the sales pitches are going to get harder, and it is going to continue to cause people to ask questions about the company's future. emily: why is wall street focused on this when the numbers are still small? max: for tesla to justify this enormous valuation, it needs to be a mainstream car company. it needs to produce these mass-market numbers. not just to justify the valuation, but to meet the ambitious goals that elon musk has set for himself's, and humanity, as he would probably put it. himself, and humanity, as he would probably put it. if you want to get us off of fossil fuels, you need

tesla is going into -- >> gabe? we're almost out of time gabe will have the final word. >> just one simple question. can the semi truck today charge in 30 minutes, yes or no >> in two hours -- in two years from now, it will. not only that, the technology that tesla is putting in place has made all the naysayers wrong. >> so it's "no." >> no, the tesla semi is coming in 2020. by that time everything that tesla is saying will be coming there. >> all right >> remember, tesla is -- sorry >> that's fine, very respectful, i appreciate that. guys, thank you for the debate trip choudary, gabe hoffman. you can see the long and short position in its full glory there when it comes to tesla >>> the dow crossed 25,000 for the first time we'll get you ready for tomorrow's trading right after this and don't miss "fast money" coming up at the top of the hour duncan just protected his family with a $500,000 life insurance policy. how much do you think it cost him? $100 a month? $75? $50? actually, duncan got his $500,000 for under $

. >>> tesla under scrutiny. a crash that has led to another investigation. >> announcer: this is abc7 news. >>> a passionate debate in san francisco city hall. residents weigh in on who should be the interim city mayor. i am dan ashley. >> and i am dion lim. talking about possibly appointed an interim mayor. once they are finished speaking city supervisors will begin nominating. >> reporter: finding it unfortunate that the discussion has degenerated on to a debate on racial and gender lines. should london breed remain as acting mayor. should the board select an interim. >> caretaker mayor. mayor london breed is qualified. >> reporter: it is a process the board has only used once before developed when ed lee was selected as mayor in 2011. yes, political pun ddit offers good -- buzzes in first on their touch screen. nominating the first candidate. if that nominee can capture six votes it is all over. if not, the second supervisor who buzzed in gets the next chance to make its nomination and if there aren't six vot

tesla like his own child. emily: but it is unclear which one he loves more, right? dana: right. he will always be involved with tesla in some way. what is interesting is they in theave a coo, so who company is being groomed for that role, if anyone. emily: so, what is happening with spacex this year? upight dana: they are giving -- gearing up for a strong year. the first lunch is later this militaryecretive payload. and then it first test flight of a larger rocket that has been in development for some time. emily: all right. thank you so much for stopping by. airbnb has won a lawsuit brought on by a management company, one of the largest involving landlords in the united states. the suit alleged that the online home sharing market place allowed tenants to break their lease agreements and sublets. 1996 law that shields liability for my content users post. coming up, we will hear from chief legal officer about the role of tech in the current administration. if you like bloomberg news, check us out on the radio.

shares could you get your hands on and twenty eighteen we'll let you know also coming out watch out tesla the startup bites and is revealing its vision for the future of electric mobility in las vegas but can that go with fellow chinese firms fail and going dry towns worst drought in decades coping with the harsh conditions is one thing but it's also leading to job cuts we'll tell you why. i'm daniel winter and this is a business update tech firms are lining up to go public you could soon be buying a slice of the likes of spotify and dropbox analysts say the market for initial public offerings is that cold could total two hundred ninety billion dollars and twenty eighty the biggest i.p.o. expected isn't a new fangled startup. is saudi arabian oil mammoth goes ahead with its plans to sell five percent of its shares on global financial markets it will be the largest i.p.o. in history wealth up to one hundred billion dollars that could happen in the second half of the year what music streaming platform spotify is doing is somewhat less than an i.p.o. it's a direct listing avoiding raising ca

. >>> and tesla under scrutiny again after one of its cars catches fire. did autopilot play a role in this? >>> and the free checking change at bank of america that's making some customers >>> this is the skyway in downtown san francisco, we told you about the problems getting into san francisco earlier in the day, now the dilemma is getting out. oncoming traffic heading into the lower deck of the bay bridge, it's bumper to bumper >>> tesla's auto pilot system is under fire again today after one of its cars crashed into a fire truck in california. >> this is the second accident involving a at the titesla auto several weeks. >> i just got word that investigators from the ntsb will come to california to investigate the crash. culver city firefighters tweeted this picture yesterday after a tesla autopilot car -- the driver says the car was on autopilot. despite how this looks, no one was injured. 10 days ago on the bay bridge, a suspected drunk driver passed out behind the wheel. the man tried to claim everything was fine because the tesla had been on autopil

. >>> tesla auto pilot systems in the spotlight once again. this is the second accident involving a tesla on auto pilot in the past two weeks. kristen sze joins us now with new information. >> reporter: investigators will be coming to california to examine this crash. a tesla model s going 65 per hour crashing into a fire truck. tesla owners we talked with told us the high-tech features should be used as a helper not as a replacement. >> provides better safety. kind of like my co-pilot. >>> tesla upgraded after a deadly florida in 2015. the system was partly to blame. they noted the driver was trying to circumvent tesla's warning about driver responsibility. and issued a statement. investigators will be focusing on the vehicle and the driver's action in this latest crash. >>> turning your attention to the weather forecast and any rain headed this way. >> big storm. >> you wouldn't know it right now because things are so calm outside. we have thin high clouds around but they will be getting thicker and lower. view over looking the embarcadero.

the san francisco chronicle reports, that tesla is ramping up production. levees will look like -- levies will start at 30% and gradually go up. the president says he wants to protect the american industry. but of course, there are several factors at play here. some are worried this will drive down the competition in the u.s., which will then drive up the prices. others say most solar companies inside the u.s. don't actually focus on the panels themselves, but rather other parts of technology. so this hurt their bottom line if they have to import those panels. and some say this could boost them, making them the domestic leader in the industry. of course, only time will tell. now, there is the solar industry associations, they say they're very disappointed in president trump's decision. and they say this could cost america tens of thousands of jobs. i'll explain why they say that, coming up in our nation half hour. live in fremont, sandra osborne, kpix 5. >>> the federal government is back in business, after a brief shutdown. a bill was signed. it includes a

sibley put, tesla makes cars. apple outsources. apple is in charge of operating systems and a user experience, so we simply do not see this as a high priority. emily: they do make phones. jim: they outsource the phones. emily: they outsource manufacturing, but not design. jim: true. emily: when you look more probably, what do you see happening? we heard jean munster predicting that amazon could buy target. jim: i think people think of tech as being a small area of innovation and now we are seeing these new disruptive innovations coming along, that m&a will heat up. ofthink this will be a year what we call merger mania out there, and size will not really create a constraint on things. also stock buyback will be a natural spot that will allow for eps accretions to go higher. we think this will be a big year for merger mania. emily: do you think it will go through regulatory issues like we see with at&t and time warner? jim: i think so. a lot of the area we deal with as far as hardware in the user experience doesn't see the amount of

it way to go jeff. >> check out the tesla. >>en thanksgiving already past. >> he is safe. >> beautiful out there jeff. >> mid-to high level cloud cover. over the week we see plenty of sunshine tomorrow. once we get over patchy morning fog throughout parts of the east bay dry on sunday with afternoon clouds building. within we have the chance of showers returning on martin luther king day in the afternoon into tuesday and another possibility next thursday and friday. neither looks like a strong storm but it's enough to get a quarter to a half inches acrosses bay area. >> three day weekend for the kids in the bay area. up next as a reminer lester holt with the "nightly news." >> back at 6:00. see you then. bye. >>> tonight, shock waves from president trump's vulgar oval office comments about immigrants from africa and haiti. >> mr. president, are you a racist? >> the president ducking questions and tweeting denials while a senator who was in the room to hear it unloads about what he said. >> hate-filled, vile and racist. >> toni

tesla had to push back the date on when they will be delivered. it's about half the price of the model s. and, again, the doors open at and, again, the doors open at 10:00 a.m. this morning. >>> 6:46 now. one director wants the transit agency to find out why. >> 4% below what it was in the same period last year. that downturn is mostly among riders making short trips. it's hitting b.a.r.t.'s budget which saw passenger revenue fall by $1 million. b.a.r.t. says overall budget situation is good with sales tax revenue coming in higher than projected. >> and they want to you stop using the paper tickets. they say clipper machines are in every station and they've sold more than 45,000 clipper cards. on january 1st b.a.r.t. added on january 1st b.a.r.t. added the 50 cent surcharge to paper fare tickets>>> this morning tonya harding's mother takes on claims she was abusive to the figure skater. >> the popular movie "i, a role for a stunning portrayal of her mother. levona is refuting her daughter's claims she threw a steak knife at her. steak knife at her

it's 2018 right now and tesla is nowhere near making 500,000 cars. since the spring of 2016 to now, you have seen these sort of wildly aggressive and optimistic predictions be sort of walked back and delayed. and i think true believers are still excited about the car. the early reviews have been positive. but the number of cars tesla is going to be able to make this year, that number will have to go down. julia: but we are focusing on quality and efficiency. is it far better to have these long delays as far as the delivery is concerned, rather than pushing them out there and and then going, guys, we have to recall them because of problems? what is the bigger evil there? dana: the delays frustrate people and certainly some of the more bearish analysts keep wondering, how many more delays can consumers stomach? the longer you delay, the more electric vehicles are on the market. the absolute worst thing for tesla at this point would be a massive recall. tesla does not have dealerships, so if there was a massive recall i don't know if they could , handle

solar city, a subsidiary of tesla. she has more on the tariff- causing concerns in the industry. >> reporter: republicans are saying this is one of trump's steps to put american companies like tesla and many others at the very top. but american experts are afraid, this is going to hurt jobs and also the industry overall. now, these new tariffs look like this. they'll start at 30% in the first year. then decrease gradually to 15% in year 4 before phasing out. now, the main target in this is china. while california is known for companies like tesla. among others in the city, china is the world's largest manufacturer of solar products. and the president says he wants he wants to protect the american industry. but the solar industries said in a press release. it could cause loss of thousands of jobs. or cause the delays. now, part of that holds true for a company out of san jose. the ceo of sun power told the san francisco chronicle, they plan to manufacture in china. these new tariffs will hurt their business. others are

the reality is if you want to charge an electric car there's two choices tesla super charging network which is pretty quick or nothing. i mean, if you want to drive anywhere at reasonable speeds the tesla super charging network is the only game in town for now , three, four years from now other manufactures will have decent networks but tesla is it. how far were you going per charge? >> i almost don't want to say because i don't want to inspire the next guy to come break that record but i'll say this. 50 hours and 16 minutes is absolutely breakable and part of that is that we did it in winter in the cold affects the batteries negatively. >> obviously, do you want to go back and break this, what is next for you, you've done so much crazy stuff. the canonball run, terry bradshaw was in that movie. i love that movie. >> i've got to give credit to daniel z arilla, who owns the car and was my co-driver. the instant we got to new york we passed out and a few hours later we said let's get in the car go back the other direction and break this by two hours. >> do you like the tesla car? >> it

tesla -- or, excuse me, musk worked for tesla under similar all or nothing conditions a few years ago. >>> the nfl has refused to print a super bowl ad submitted by a veterans group. this is the ad that would go in the super bowl program. please stand. the nfl does have editorial control and asked amvets to come up with an alternative like please honor our veterans or please stand for the veterans and colin kaepernick kneeling has taken over the last two seasons. player across the league adopted the practice to raise awareness of social and racial injustice. amvets sent a letter to commissioner roger goodell saying they support the right to protest and freedom of speech goes both ways. >> patriots and eagles right here on nbc. the oscar nominations are out. we'll tell you about the big winners potentially next. even if no one in your home smokes, secondhand smoke can be closer than you think. secondhand smoke from a neighbor's apartment can enter your home through air vents, through light fixtures and even through cracks in the walls and the floors. secondhand smoke is toxic. especial

tesla is a brand-new car company. this model that they are developing is their first mass-market targeted car. as ith that, this is, said, they are completely new. they had no partners. they don't have a standard supply chain where they could make up for one part with another part from someone else, so that means that any issues are their own. they are not able to -- they have not been able to provide what -- you know, the customers with what they want. guy: is this opening the door to that areufacturers trying to push into the electric space? teslas problems are good news for them, presumably. well, there is actually an issue with the entire electric car market. it is actually quite weak. the market share of electric cars is still in the single-digit percentages. less than 5% depending on which market you're talking about. that is because customers are not really turning to electric cars yet. any carmakers which are going with electric cars are doing so relatively slowly. right now, the biggest producers is the nissa

what that tesla story might mean also for other car maker that it actually doesn't bode well also for the others because the big future for many carmakers also for the german ones is electric vehicles and if there are battery problems now with tesla that could all also mean that they might be in college that also bothers because the batteries are clearly the bottleneck for the new electric vehicle revolution in the making car makers need to get their act together on that device back in frankfurt thank you so much. security experts have discovered a major design flaw in the chips made by u.s. tech giant intel a bug fix could significantly slow down the performance of p.c.'s with an intel microprocessor the tech giant is yet to release more details about the flaw which experts say could affect millions of computers around the world operating systems running on intel chips like those by apple and microsoft must install the fix to avoid security issues but could then run up to thirty five percent slower into shares in new york lost more than three percent on the news. the international la

so we are about one third the price of a tesla model s. and more broadly, we have seen the likes of daily, a concept car and we have others that involve this space and then we have the order manufacturers, the vw's, toyotas, will we see consolidation? probably not as much as companies that run out of funding. i think the old manufacturers, the traditional manufacturers have partners in china already today. i think it overly planted had a car until 19 or 20 so there is a competition coming but it is not here yet other than tesla is really here in a big way. works this is such an appoint part, we see real progress in developing batteries that provide enough power, what kind of progress do expect to see around the technology with batteries this year? >> i think we'll see more capacity batteries but i think that is a lot of talk about charging, it is very rapid charging, you can charge a car so there is a lot of exciting technology, the capacity is increasing the density is increasing so the range in our car, this could be an yet six, is the s

the worst thing for tesla would be a massive recall. tesla does not have dealerships, so i massive recall, i don't know if they could handle all of that. julia: in the pursuits section, casual is out, formal is in. talking about food. carol: we talked about the trend. >> ever since the financial crisis, there was a trend toward casual dining, inexpensive options. julia: austerity eating. carol: because we had to. >> -- was the first agile -- casual restaurant to get three stars in the new york times. carol: that's a big deal. three stars in the new york times at the casual place. >> paper napkins, people sitting on benches, eating with their hands. julia: coffee. >> after that, you have the wave of food trucks. everything with shared plates. now things come out whenever chefs want them to. carol: really casual dining. >> super casual. then the economy is booming again. restaurants follow the lead of wall street and that trend spread around the country and chefs listened to their diners and realized people want a more special experience

musk's company is of course listed tesla must needs to make a bold call on tesla's model three before it is too late production hell as elon musk calls it has reached a new level of blazing discomfort at tesla last. week the company reported that had fallen well short of his delivery goals for the model three the thirty five thousand dollars car that is supposed to transform tesla from a nice player to the dominant force in the new age of electrified automobiles so they did manage to deliver one hundred thousand cars in twenty seventeen which is a new high for them but we're going to go into half comparing them to the other big auto companies well it's an interesting kind of model he has there because he's using the pre-sales on the on the the model three and these cars to kind of keep the company afloat in terms of cash because they burn a lot of cash so he's making a bet that eventually these two things work out and he starts to have some organic growth and which is not a bad bet to make i mean i work for jeff bezos you with that lost money for many many years building their brand b

him combining solarcity with tesla and running both companies. he is the chairman of solarcity, as well. one of the things i was thinking is this could really increase u.s. solar panel production. the question is, how much does solarcity produce in the u.s., how much does it get from overseas? how much will these tariffs affect the company? i don't know the business as well as i know the carmaker, but if they produce more panels in the u.s., obviously this will be a boon to them. if they import a lot of panels or pieces from asia, it will be an issue. yeah, that will be an interesting equation for the tesla story going forward. not theer whether or production story will shift and develop as a result of this. it is only on for three years, so that is another part of the equation. next, we head back to davos. are we heading for another crisis? tom keene will pose that question to a panel including ceo.ays ceo, citibank's that is next. this is bloomberg. ♪ ♪ we are 40 minutes into the trading day in europe. let's talk about what we need to know.

today, you can finally see a tesla model 3 up close. we'll tell you where you can see it, touch it and maybe sit in one. that's still ahead. >>> a change with your facebook account soon. the switch up the company is hoping will strengthen relationships with your facebook friends. >>> good morning, i'm landon dowdy live at cnbc world headquarters. wall street set to end higher after yesterday's gains. they closed at record highs as investors bet on the economy. they are winning a flood of earnings starting today. we have jpmorgan chase and wells fargo and economic data on retail sales this morning. the dow up 200 points to 25,574. the nasdaq up 58 to 7211. general motors says they are making the first mass produced self-driving car without a steering wheel and pedals. they filed a petition for permission to put the vehicle on the road next year without a human back-up driver. they will need changes to existing safety rules including an air bag in what is normally the driver's seat. >>> facebook is overhauling news feed to see more posts

what has tesla said? >> tesla has declined to comment, the only statement that provided us is one that reiterates that the autopilot is only intended with use with a fully attentive driver who has to have their hands on the wheel, eyes on the road. of theggest to some andlenge in messaging explaining how this technology on help a driver be safer the road and perform some of the , but customers cannot take their attention off the road, so they can trust it yet. there is a difference between autopilot and the eponymous, but for the general public he be hard to figure out between the two. they do so much on tesla. coming up on daybreak asia, or from steve mnuchin talking the dollar down. look at the view from union bank . this is bloomberg. ♪ >> we are live from bloomberg's asian headquarters. welcome to "daybreak asia." top stories, mixed messages from davos. a trade war is already underway. that sends the dollar to the lowest in three years. stocks lifted by strong earnings, asian markets are set to open

the tesla dealership at >>> tesla's hot selling car is making its public debut today in the bay area. a tesla model 3 went on display this morning in palo alto. the dealership at the stanford mall is one of only two locations in the state that will have a model 3 on the showroom floor. the other location is in los angeles. the model 3 is the company's most affordable car priced at $35,000. >>> general motors is taking a major step in self-driving cars. the company now has plans of getting rid of steering wheels but kris van cleave explains that not everyone is on board. >> reporter: something is missing from this car a sneak peek of what the future may look like a self-driving smart car without a wheel or brake pedal. general motors says it's ready to start building them now. >> it's buzz-worthy. >> reporter: ed low from motor trend. >> when you start taking away fundamental controls like the pedal, brakes, steering wheel it makes the prospect of driverless cars more real. >> reporter: to get it on the road by 2019, gm has filed a position with the national highway traffic safety admi

tesla has again missed production targets for its model three sedan the electric car maker produced less than two and a half thousand vehicles in the fourth quarter well short of the twenty thousand cars a month promised by company founder mosque now investors are closely watching tesla's ability to mass produce its vehicles is a test of whether the electric car pioneer can live up to its ambitions now for more let's bring in our markets correspondent anetta vice in frankfurt and that's a our customers and investors for that matter fed up with the fact that tesla keeps breaking its promises. well i wouldn't go as far as saying that they are fed up but they are concerned you also see that in the share price reaction and after market and now free market in the u.s. the shares are down by more than two and a half percent as it stands now and that is a major concern all of course to and vaster is clients are not fed up with tesla as of now but there is also a growing worrying among analysts that that could be more delays and that could actually lead to the fact that clients could consuls the

customer also be waiting a little longer as tesla continues to wrestle with production bottlenecks. those problems limited deliveries of the model 3 last quarter and are the reason tesla is changing its guidance on how quickly it will ramp up model 3 production instead of building 5,000 per week at the end of this quarter, tesla says they plan to build 2500 per week by the end of marsh and push out the target of 5,000 per week until the end of the second quarter that change in guidance was called disappointing by several analysts on wall street but nobody cut their estimates for the company. the reaction was fairly muted with one prominent analyst telling clients to buy tesla shares on this dip this is not the first time musk's company has failed to hit production targets, but it's not scaring off investors. that's because many believe the production issues will eventually be fixed. and when they are, tess sla sho start cranking out the model 3 in greater numbers and push shares higher. >>> exercise caution that's the warning from the u.s. regulator to investors in cryptocurrencies

tesla reps say it's like going from a blackberry to an iphone. the first thing you notice when you start driving this car is the screen. totally different way to interact with your car. the car's electric. you go past gas stations and laugh. and what blows your mind? it's driving itself right now. what tesla calls auto pilot. >> auto pilot is semi-autonomous driving system that does not drive the car but helps you drive the car more comfortably. >> reporter: for me, it takes the edge off in traffic, steering, accelerating. but the driver is still in charge and responsible, like during this lane change. whoo, i don't like that. it's not autonomous driving, driver assistance. just over 500,000 people have paid a deposit to reserve a model three. >> we've been on the list since the first day. yea we're excited to have an affordable electric car. >> reporter: but when they'll be receiving that car is the question. critics have complained about significant production and delivery delays. also the base model, $35,000 version won't be manufactured until

for the first time tesla's model 3 is on display at retail stores. the sanford mall in palo alto is the only bay area location where the cars are on display. model 3 reservation holders and prospective buyers filled the store today to get an up close look at the all electric car that starts at 35,000. >> my favorite part is the screen and head room. i kind of want my commute to be longer now actually so i get more time in the car. >> last july chopper 5 spotted the model 3 cars at the tesla factory in fremont. it's the cheapest tesla to date and one full charge can get 220 miles to 310 miles. >>> here's one for all you car nuts, people who really like to drive. are you ready to let go of the wheel? general motors wants to strip away your ability to drive a car entirely. the carmaker plans to remove the steering wheel, the gas pedals and the brakes from its self-driving vehicles. gm filed a petition today asking the government to waive some of the federal standards pertaining to these human driven cars, as they will be known someday, but a new survey

tesla is spending most of tomorrow there. 33,000 employees at tesla now. and with 362,000 electric vehicles on the road in california today. about half the u.s. market. and i just got my first electric car, the chevy volt. 10 people including two state legislators to get this car. i have a very bright future as an electric car salesman. i'm looking out who's next on my list. by the way, ev can play and already play an important role in helping integrate renewables. because what we want is actually to have sort of an electric vehicle happy hour where they are charging during the time we have surplus solar and wind generation coming on the grid. just as an example to keep in mind the sense of possibility, it took general motors and ford, both of those companies, over a century to become a $48 billion company. tesla is now more valuable than both those companies. and they just started in 2003. this is a slide -- i love this. this is from 1900 in new york city. all these are horse-drawn carriages. and that's the first car. and then 1915, there's the last horse

landon dowdy has the details on that >> tesla struggling with production the carmaker releasing fourth quarter delivery numbers that fell short of expectations and pushing back production targets for the model 3. tesla delivered 1,550 units, missing estimates of 2500 and a lower revision of the initial goal of 5,000 per week in a release the firm saying as we continue to focus on quality and efficiency rather than just pushing for the highest possible volume in a short time, we expect to have a gradual ramp through q1 and ending with a weekly rate of 2500 model 3s tesla saying it had a major progress of addressing the bottlenecks for the model 3. total deliveries, 101,000, slightly higher than the company expected shares of tesla stalling initially and now down 2% in early trading. back over to you >> thank you very much >>> still ahead, a war of words in washington. a bombshell books gives a rare gli glimpse inside the white house >>> and pokemon heads to cnahi we'll have the latest when "worldwide exchange" returns your brain is an amazing thing. but as you get older, it naturally be

tesla hitting the brakes on its model three again. how many more bombs in the road ahead for tesla shareholders -- how many bumps in the road. from thee or away close of trading on the date when the dow crossed 25,000 for the first time. it's pretty amazing, the bulls are certainly out in 2018. the dow, s&p 500 and the nasdaq all higher, new record highs for the s&p 500 and the nasdaq three days in a row. it seems investors are optimistic about tax reform and that perhaps will lend a boost to the corporate profit outlook, but there's also a sense of the income of one it was so last year. we are also seeing it in corporate bond spreads. this is a corporate bond spread in orange, basically the difference between a corporate bond yield and the treasury yield. it suggestsght, that investors are not very fearful, they are not demanding too much concentration of corporate bonds of the treasury. we see 143%, exactly where it was back in 2014. when it goes white, that tells us there is more fear. right now, not a lot of fear as the s&p 500 ti

what is happening at tesla? me at a global perspective. what does it mean for the electric car industry? is unique in that they are developing their own technology. are alreadyers carmakers so they are a significant piece into a known structure. tesla is going with their own battery technology and they have to fit that into styles and models that don't exist anywhere else. if you look at what is going on with general motors, they are starting from a slower pace with electric cars because they are also recognizing that demand is still actually kind of week. when you have nissan and renault together who are currently the world's biggest electric carmaker, they missed their target by one third a couple of years ago. like the demand is not yet therefore electric cars. tesla is taking an aggressive stance because they are a go it alone company. anna: thank you very much, tom. pulling together a few reds for us. and the numbers from tesla around production of the model three. let's talk about technology sector. manus: company has can earn that i

. >>> trouble for tesla. one of its mold s cars slammed into the back of a fire truck while the driver says it was on auto pilot. you see the hood of the tesla wedged into the parked fire truck happening on the 405 in wedge county. the model s was going 65 miles per hour. the driver passed out with a tesla stopped in the middle of the road. when he woke up, he blamed it on auto pilot. chp arrested him on suspicion of dui and towed his tesla away. >>> tonight, one of the most notorious cases, the escape from alcatraz. in a kpix 5 exclusive, betty yu obtained a letter allegedly written by one of the escapees. >> reporter: it is one of america's greatest mysteries. what happened to three men after they pulled off the most daring prison break in 1962? only the worst criminals were sent to alcatraz. for 29 years, it was the most secured federal prison in the country, surrounded by the cold rough waters of the pacific. but brothers john and clarence and frank morritt disappeared into the middle of the night and hav