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Senin, 17 Februari 2020

Europe Stocks Gain on China Lift; Yen, Gold Slip: Markets Wrap - Yahoo Finance

Europe Stocks Gain on China Lift; Yen, Gold Slip: Markets Wrap

(Bloomberg) -- European stocks rose after Chinese shares advanced with the yuan as investors took encouragement from the Asian country’s pledges to support the world’s second-biggest economy in the face of the coronavirus outbreak. The yen and gold both dipped.

Gains in the Stoxx Europe 600 Index were led by automakers and miners. U.S. futures climbed, though Wall Street is shut for a holiday, and Treasuries weren’t trading. European bonds were steady, while the euro ticked higher, after closing on Friday at its lowest since early 2017. The dollar was flat.

China’s CSI 300 Index has recouped its losses since trading resumed after the Lunar New Year break, as the central bank lowered one of its interest rates and said it would support firms that can reopen as soon as possible. The momentum failed to buoy most Asian markets, however. Stocks dipped Seoul and Sydney, while Japan’s Topix Index dropped after data showed the country’s economy shrank the most in five years in the last quarter. Cathay Pacific Airways Ltd., which counts on China and Hong Kong for about half its revenue, gave a profit warning and blamed the virus.

Investors in risk assets began the week on the front foot after China over the weekend unveiled plans to reduce corporate taxes and fees, while letting banks run up more non-performing loans. Bloomberg Economics estimated the country’s economy has been running at just 40% to 50% capacity in the last week, underscoring the short-term damage done by the coronavirus-linked shutdowns of large swathes of the country.

“If the Chinese economy does recover and you’ve added all this fiscal and monetary stimulus into it as well, the situation could be that you have much stronger emerging markets into the second half,” Sunny Bangia, a fund manager at Antipodes Partners Ltd., said on Bloomberg TV. “A lot depends on how this virus gets contained and if it can morph into something more minor.”

Hubei, the province at the epicenter of the outbreak, Monday reported 1,933 new cases, slightly higher than a day earlier. Deaths were reported in France and Taiwan over the weekend, bringing to five the number of fatalities outside mainland China.

In Singapore, the government Monday cut its growth forecasts, citing uncertainty over the length and severity of the virus outbreak. The country is expected to unveil a large stimulus package to mitigate the hit from the epidemic.

Elsewhere, Bitcoin fell more than 5% from Friday, slipping back below $10,000. WTI crude oil held above $52.

Here are some key events coming up:

Earnings season rolls on with results from companies including: BHP Group Ltd. on Monday; Tuesday brings Glencore Plc, HSBC Holdings Plc and Walmart Inc.; Deere & Co. results are set for Friday.U.S. celebrates Presidents’ Day on Monday, with financial markets shut.Minutes of the most recent Federal Reserve meeting are published on Wednesday.Indonesia is expected to cut interest rates on Thursday, following emerging-market peers from Brazil to South Africa which have lowered borrowing costs already this year.Group of 20 finance ministers and central bank chiefs are scheduled to meet Feb. 22-23 in Riyadh, Saudi Arabia, and are expected to discuss efforts to support growth amid the coronavirus threat.

These are the main moves in markets:

Stocks

Futures on the S&P 500 Index gained 0.2% as of 9:29 a.m. London time.Nasdaq 100 Index futures increased 0.4%.The Stoxx Europe 600 Index climbed 0.2%.The MSCI Asia Pacific Index fell 0.2%.The MSCI World Index was little changed.

Currencies

The Bloomberg Dollar Spot Index was little changed.The euro climbed 0.1% to $1.0844.The Japanese yen weakened 0.1% to 109.85 per dollar.South Africa’s rand weakened 0.1% to 14.9214 per dollar.

Bonds

Germany’s 10-year yield decreased less than one basis point to -0.41%.Britain’s 10-year yield advanced less than one basis point to 0.63%.Japan’s 10-year yield declined one basis point to -0.033%.

Commodities

West Texas Intermediate crude fell 0.1% to $52.01 a barrel.Gold weakened 0.2% to $1,580.96 an ounce.LME aluminum decreased 0.1% to $1,720.50 per metric ton.Iron ore gained 2% to $87.80 per metric ton.

--With assistance from Andreea Papuc.

To contact the reporters on this story: Todd White in Madrid at twhite2@bloomberg.net;Adam Haigh in Sydney at ahaigh1@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Robert Brand

For more articles like this, please visit us at bloomberg.com

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2020-02-17 09:34:00Z
52780615029827

U.S., European Futures Rise With China’s Stocks: Markets Wrap - Yahoo Finance

(Bloomberg) -- U.S. and European equity futures rose alongside China’s stocks and the yuan, taking encouragement from pledges to support the nation’s economy. Japanese equities declined after a deep contraction in GDP.

China’s CSI 300 Index recouped all of its losses since trading resumed after the Lunar New Year break, with the central bank lowering one of its interest rates and saying it would support firms that can restart production as soon as possible. Otherwise, Asian markets saw a mixed start to the week. Treasuries aren’t trading due to a U.S. holiday. The euro ticked higher.

China also over the weekend unveiled plans for reducing corporate taxes and fees, and letting banks run up more non-performing loans. Bloomberg Economics estimated China’s economy has been running at just 40% to 50% capacity in the last week, underscoring the short-term damage done by the coronavirus-linked shutdowns of large swathes of the country.

“If the Chinese economy does recover and you’ve added all this fiscal and monetary stimulus into it as well, the situation could be that you have much stronger emerging markets into the second half” of 2020, Sunny Bangia, a fund manager at Antipodes Partners Ltd., said on Bloomberg TV in Sydney. “A lot depends on how this virus gets contained and if it can morph into something more minor.”

Japan’s Topix Index slid as much as 1.5% after the worst nominal GDP performance since Prime Minister Shinzo Abe took office. In Singapore, the government Monday cut its growth forecasts, citing uncertainty over the length and severity of the virus outbreak. The country is expected to unveil a large stimulus package to mitigate the hit from the epidemic.

Here are some key events coming up:

Earnings season rolls on with results from companies including: BHP Group, Glencore Plc, HSBC Holdings Plc, Walmart Inc. and Deere & Co.U.S. celebrates Presidents’ Day on Monday, with financial markets shut.Minutes of the most recent Federal Reserve meeting are published on Wednesday.Indonesia is expected to cut interest rates on Thursday, following emerging-market peers from Brazil to South Africa which have lowered borrowing costs already this year.Group of 20 finance ministers and central bank chiefs are scheduled to meet Feb. 22-23 in Riyadh, Saudi Arabia, and are expected to discuss efforts to support growth amid the coronavirus threat.

These are the main moves in markets:

Stocks

The MSCI Asia Pacific Index fell 0.2% as of 7:09 a.m. in London.Japan’s Topix index lost 0.9%.Futures on the S&P 500 added 0.3%. The index rose 0.2% on Friday.Hong Kong’s Hang Seng Index rose 0.5%.The Shanghai Composite Index added 2.3%.Australia’s S&P/ASX 200 Index slipped 0.1%.South Korea’s Kospi index was little changed.Euro Stoxx 50 contracts rose 0.2%.

Currencies

The yen was flat at 109.85 per dollar.The offshore yuan added 0.1% to 6.9829 per dollar.The Australian dollar rose 0.2% to 67.27 U.S. cents.The euro bought $1.0837.

Bonds

The yield on 10-year Treasuries slid three basis points to 1.58% on Friday. Futures were down slightly Monday.Australia’s 10-year yield held at 1.05%.

Commodities

West Texas Intermediate crude ticked up 0.2% to $52.16 a barrel.Gold was little changed at $1,582 an ounce.

To contact the reporters on this story: Adam Haigh in Sydney at ahaigh1@bloomberg.net;Andreea Papuc in Sydney at apapuc1@bloomberg.net

To contact the editors responsible for this story: Christopher Anstey at canstey@bloomberg.net, Joanna Ossinger

For more articles like this, please visit us at bloomberg.com

Subscribe now to stay ahead with the most trusted business news source.

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Minggu, 16 Februari 2020

3 Best Biotech Stocks to Buy for the Next Decade - Motley Fool

Let me start out by acknowledging that predicting the stocks in any industry that will deliver the best performance over the next decade is a crapshoot. You can take whatever odds there are against successfully doing so and probably double or triple them when it comes to picking the biotech stocks that will deliver the highest returns.

There are simply too many variables at play in the biotech world. Clinical trials can flop. The prospects for regulatory approvals can evaporate into thin air. Rivals can launch better drugs.

But there are factors we can look at that help improve the chances of choosing biotech stocks that are likely to succeed over the next 10 years. We can look at the company's lead pipeline candidates as well as earlier-stage long-shot candidates. We can look at the market potential for the indications those pipeline drugs target. And we can evaluate the risks the companies face.

So what are the best biotech stocks to buy for the next decade? Here are my top three picks.

Three test tubes containing liquids of different colors.

Image source: Getty Images.

1. Vertex Pharmaceuticals

If there's any biotech that has a clear path to deliver strong revenue and earnings growth, it's Vertex Pharmaceuticals (NASDAQ:VRTX). The company dominates the cystic fibrosis (CF) market with its four FDA-approved drugs. Sales for a couple of these drugs -- Orkambi and Symdeko -- are sure to increase significantly over the next few years thanks to reimbursement deals recently signed in important European markets.

Vertex's newest CF drug, Trikafta, hasn't won European regulatory approval yet, but I think it's a really safe bet that it will. Assuming I'm right, the drug will expand the biotech's addressable CF patient population by more than 50%. No other potential rivals are even close to being as far along as Vertex is. As I said, Vertex has a clear path to strong revenue and earnings growth -- and this based on its CF franchise alone.

I fully expect Vertex will also have drugs on the market within the next decade that treat diseases other than CF. The company's pipeline includes experimental drugs targeting pain and several rare genetic diseases such as alpha-1 antitrypsin deficiency (AATD) and APOL1 mediated kidney diseases. Vertex is working with CRISPR Therapeutics to develop gene-editing therapies targeting rare blood diseases beta-thalassemia and sickle cell disease.

Then there's Vertex's swing for the fences. The company acquired Semma Therapeutics last year to scoop up Semma's program focused on curing type 1 diabetes (T1D). If Vertex develops a safe and effective cure for T1D, its tremendous success in CF could pale in comparison to what lies ahead.

2. bluebird bio

Until recently, bluebird bio (NASDAQ:BLUE) didn't have any approved products on the market. That changed with the biotech's January launch in Germany of Zynteglo (also known as LentiGlobin), a gene therapy that targets the treatment of transfusion-dependent beta-thalassemia (TDT), following securing European approval in June 2019. Zynteglo isn't approved in the U.S. yet, but Bluebird expects to file for FDA approval in the first half of this year.

The company also plans to evaluate Zynteglo in a phase 2/3 clinical study targeting sickle cell disease. And it has another gene therapy in late-stage testing, Lenti-D, for treating rare genetic disease cerebral adrenoleukodystrophy (CALD).

I especially like the prospects for Bluebird's experimental multiple myeloma drugs ide-cel and bb21217. Both drugs are licensed to Celgene, which was acquired by Bristol-Myers Squibb in November 2019, and should have blockbuster sales potential.

Bluebird's market cap currently stands around $5 billion, a level that gives it plenty of room to run, in my view. If Zynteglo, Lenti-D, ide-cel, and bb21217 achieve the success that I think they will, the biotech should be a huge winner over the next 10 years.

3. Editas Medicine

I admit that I'm stepping out on a limb with this pick. Editas Medicine's (NASDAQ:EDIT) lead pipeline candidate, EDIT-101, is only in early-stage clinical testing as a treatment for Leber congenital amaurosis type 10 (LCA10), the leading genetic cause of blindness. And because Editas has licensed rights to EDIT-101 to Allergan, the small biotech won't make all of the revenue the gene-editing therapy might generate if it's eventually approved.

But all of Editas' chips aren't riding on just EDIT-101. Editas and Allergan are taking a similar approach with EDIT-102 in treating another genetic eye disease, Usher syndrome type 2A, as they're taking with EDIT-101.

Like Vertex and CRISPR Therapeutics, Editas is also developing a CRISPR gene-editing therapy targeting beta-thalassemia and sickle cell disease. Editas hopes to file for FDA approval later this year to begin clinical testing of the therapy. The company's approach of editing the HBG1 and HBG2 genes could be more effective than CRISPR Therapeutics' approach of editing the BCL11Ae gene.

My rationale in choosing Editas, though, is that its CRISPR gene-editing platform holds promise for treating a wide range of diseases. The biotech is working with Bristol-Myers Squibb to develop off-the-shelf T cell therapies targeting cancer as well as developing its fully owned cancer cell therapies. And if its gene-editing approach is successful in treating eye diseases, the company thinks that it could potentially target heart, liver, neuromuscular, and nervous system diseases, too.

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2020-02-16 14:31:00Z
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Emilia Wickstead Fall 2020 Ready-to-Wear Collection - Vogue.com

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2020-02-16 14:29:48Z
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What we know about Facebook's new oversight board that can overrule Mark Zuckerberg - Business Insider - Business Insider

In late 2018, Facebook CEO Mark Zuckerberg announced an ambitious plan: to create an independent oversight board that could overrule Facebook’s content moderation guidelines, and even Zuckerberg himself.
The board is independent from Facebook, but Facebook is funding the board’s operations to the tune of $130 million.
If users believe their content was removed from the service unfairly or without cause, they can appeal to the independent board directly. If it decides to reverse Facebook’s decision, that decision „will be binding,“ Zuckerberg said, „even if I or anyone at Facebook disagrees with it.“
Visit Business Insider’s homepage for more stories.

With over 2 billion users, Facebook has a major moderation problem on its hands.

Whether you’re talking about the platform’s use by Russian government-backed trolls in the 2016 US Presidential election, or to spread propaganda during the 2016 Rohingya genocide, or when a shooter livestreamed a mass shooting in New Zealand, Facebook has faced moderation issue after moderation issue across the past few years.

And the company is well aware of the enormity of its problem. „One of the most painful lessons I’ve learned,“ CEO Mark Zuckerberg wrote in late 2018, „is that when you connect two billion people, you will see all the beauty and ugliness of humanity.“

As a result, Facebook is establishing an oversight board that it says is outside of Facebook’s control, that can ultimately overrule Facebook’s own policies on content management. The company has even pledged $130 million to get the board funded and operational, with plans to launch in 2020.

Here’s everything we know so far:

In late 2018, Facebook CEO Mark Zuckerberg published a series of lengthy notes addressing high-level problems his company was attempting to solve.

Foto: Facebook CEO Mark Zuckerberg on stage at F8 2018, the company’s annual developer conference.sourceGetty/Justin Sullivan

The second such note, published in November 2018, was titled, „A Blueprint for Content Governance and Enforcement.“

As dry as it sounds, the note laid out Zuckerberg’s plan to address what he described as one of the „most important issues“ facing his company.

That issue: How to police a service with over 2 billion users.

„The past two years have shown that without sufficient safeguards, people will misuse these tools to interfere in elections, spread misinformation, and incite violence,“ Zuckerberg said. „One of the most painful lessons I’ve learned is that when you connect two billion people, you will see all the beauty and ugliness of humanity.“

As a solution, Zuckerberg proposed something unheard of among the social media giants of the world: An independent board, separate from Facebook, that users could appeal to directly.

Foto: sourceAP Photo

Facebook uses a combination of human and computer-based moderation tools to police its service. Algorithms attempt to catch the majority, and tens of thousands of human moderators act as the second line of defense.

But that’s not nearly enough bandwidth to address billions of users‘ content. And even if it were, mistakes happen – and mistakes on the scale of Facebook’s size, however statistically small, have a huge impact.

„Given the size of our community,“ Zuckerberg said, „even if we were able to reduce errors to 1 in 100, that would still be a very large number of mistakes.“ As of the writing of his note, in November 2018, the company’s moderation system was making, „the wrong call in more than 1 out of every 10 cases.“

As a result, Zuckerberg proposed something that no other social media company has proposed: An independent board, separate from Facebook, that can outright overrule Facebook’s own decisions.

The idea is simple: To provide a means for users to appeal Facebook’s moderation decisions to an institution with a clear purpose, different from Facebook’s.

Foto: An early infographic from Facebook describing how the independent oversight board is intended to work.sourceFacebook

„The purpose of this body would be to uphold the principle of giving people a voice while also recognizing the reality of keeping people safe,“ Zuckerberg said in his November 2018 note.

Exactly how that will work remains to be seen, but the idea goes something like this:

Both Facebook itself and Facebook users can surface issues with the independent oversight board. For most Facebook users, being able to appeal to the independent board will only become an option „after the direct appeals process with Facebook“ concludes. All that means is you’ll have to first appeal to Facebook.

Most importantly of all: Decisions made by the oversight board outright overrule Facebook itself, and can even overrule Zuckerberg’s decisions. „The board’s decision will be binding, even if I or anyone at Facebook disagrees with it,“ Zuckerberg said in a letter published in September 2019.

The independent board, Zuckerberg said, would exist „to uphold the principle of giving people a voice while also recognizing the reality of keeping people safe.“

Foto: How the independent board works.sourceFacebook

The independent board is, according to Facebook, separate from the company of Facebook.

It requires its own offices, bureaucracy, and support staff. It isn’t a subsidiary of Facebook, like Oculus or Instagram – it’s a completely different entity.

That separation is by design. It’s a measure of the board’s independence from the company it’s intended to oversee.

The board’s charter details the relationship between the board and Facebook as such:

„Relationship with Facebook: Facebook will contract for services from the board.
Relationship with trust: The board will be funded by the trust to support its operations and expenses.
The board will recommend members for appointment by the trust.“

That said, Facebook is directly responsible for financing the trust that finances the independent oversight board. Though the board is operated independently, it depends on the trust for operations funding.

Facebook is providing $130 million in startup capital to fund the board for its first six years, and promises to continue funding beyond that.

Foto: Inside Facebook’s Menlo Park headquarters.sourceReuters

Despite the autonomy of the independent board, and despite it being funded by a separate trust, that trust receives its funding from – who else? – Facebook.

The startup capital for the board, if you will, is being provided by Facebook to the tune of $130 million, „which will cover operational costs such as office space, staff and travel expenses.“ The cash reserve is intended to fund operations for „approximately six years,“ and will be doled out on a yearly basis per a trust-approved budget.

Moreover, Facebook promised to continue funding the board indefinitely.

So, when will this independent board become active? Who’s running it? And what are the next steps?

Foto: Former Article 19 executive director Thomas Hughes, right, speaking with deputy executive director Quinn McKew in 2018.sourceArticle 19

The only information about when the board will become active is „2020.“

In the meantime, it appointed its first leader last month: Thomas Hughes. He will lead the new oversight group as its director of oversight board administration.

In his previous role, which he left in early January, Hughes served as the executive director of Article 19, a British human rights group that focuses on freedom of information and expression.

Alongside the announcement of its first director, the board’s proposed bylaws were also published – which contained one particularly interesting note about transparency: „The board will release all decisions publicly on its website and issue annual reports,“ it says. „These reports will contain the number and type of cases reviewed by the board, the breakdown of case submissions by region, and information on Facebook’s implementation and response.“

The latest update from Facebook on the board’s creation process was in December 2019, when Facebook director of governance and global affairs, Brent Harris, said the company is „eager to see the Oversight Board take shape and start hearing cases next year.“

When pressed for an update on timing, a Facebook representative told Business Insider the company expects to have logistics lined up so that the board can begin hearing cases in the next few months.

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2020-02-16 10:00:03Z
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A plane passenger filmed a man repeatedly pushing her reclined seat with his fist. Who’s wrong here? - KPRC Click2Houston

(CNN) -- The flight was supposed to last less than two hours, quick and painless. Instead, it turned into what one passenger described as a painful assault -- and a lightning rod for what constitutes proper airline etiquette.

Wendi Williams, who describes herself as a teacher in Virginia Beach, tweeted about the experience on an American Airlines flight in January.

In footage she shared on Twitter, which has been shared widely and viewed hundreds of thousands of times online, the man seated behind her repeatedly pushed the back of her seat with his fist. She says before she started filming, he was actually forcefully punching her seat.

Why? Because she reclined it.

The man's actions -- and Williams' decision to recline the seat into a row with no ability to do the same -- has sparked a heated conversation about etiquette at 30,000 feet.

How it happened

Williams was flying from a teacher's convention in New Orleans to a connection in Charlotte, North Carolina, she wrote on Twitter. The footage appears to show she was seated in the second-to-last row in the cabin.

That's when she reclined her chair.

At some point in the flight, the man seated behind her asked Williams "with an attitude" to return her seat to the upright position so he could eat from the tray table, she said.

So she did -- but when he was done eating, she said, she reclined her seat once again.

That's when he started "hammering away," she said. "He was angry that I reclined my seat and punched it about 9 times - HARD," she wrote.

So, Williams started recording him.

In the video, the man, who hasn't been identified, looks down at his phone on the tray table and continues to push her seat so it rocks. He appears to be seated against a wall and can't recline his own seat.

Williams later characterized the incident as an assault.

"I have 1 cervical disk left that isn't fused," she wrote on Twitter. "It's scary bc [sic] it's this the kind of injury that could do it in."

Williams did not respond to CNN's multiple requests for comment.

She accused the flight attendant of ignoring her pleas

The woman didn't share details from her January 31 flight until this month. She tried to handle it with the airline through direct messaging but wasn't content to settle things quietly, she explained on Twitter.

"I'm in pain," she tweeted. "I've lost time at work, had to visit a doctor, got X-rays, and have has [sic] horrible headaches for a week."

She said she alerted a flight attendant as soon as the punching started. But the woman "rolled her eyes" at Williams and offered the man she accused of hitting her seat some complimentary rum, she wrote in a tweet.

"She gave me a passenger disturbance notice & threatened to have me escorted off the plane!" she tweeted. "My crime was reclining my seat."

After airing her grievances with American Airlines, she said the airline told her to contact the FBI to investigate her claims. She didn't pursue the agency's help.

In a statement to CNN, American Airlines said it was aware of the "customer dispute."

"The safety and comfort of our customers and team members is our top priority, and our team is looking into the issue."

American Airlines confirmed Williams' January 31 American Eagle flight 4392, operated by Republic Airways but did not confirm whether Williams had pressed charges.

On Twitter, Williams has repeatedly called on the airline to release the identity of the man seated behind her.

To recline or not to recline? It’s divisive

Airline passengers are entitled to "fly rights," outlined by the US Department of Transportation, when they buy a plane ticket. Those ensure airlines will do things like provide passengers with water when delayed on the tarmac or, if overbooked, ask passengers for volunteers before others are bumped off involuntarily.

But comfort and personal space are not among those rights.

Air travel dos and don'ts are wildly divisive and regularly broken -- do the same laws we adhere to on land apply in the sky? Everything from who has ownership over the armrest (etiquette experts told CNN in 2014 the passenger in the middle seat gets both) to which animals qualify as "emotional support" creatures (a new federal proposal would ban ESAs like peacocks, potbelly pigs and iguanas from flights) have ignited fierce debate.

Still, there's an expectation that when you fly, you'll respect other passengers and make the best of your cramped surroundings. Punching the back of a passenger's seat is impolite, according to many of the people who responded on Williams' Twitter feed. But was Williams in the wrong, too, for encroaching on the man's already limited personal space?

Lilit Marcus, CNN Travel's Hong Kong-based editor, wrote in November that reclining should be reserved for "special occasions."

"Reclining is a way of asserting that your travel needs, and only yours, matter," she wrote. "People are fine with doing it, but no one likes it when it happens to them."

CNN readers largely agreed.

Several of them told CNN in December that reclining is rude, particularly for passengers seated in economy class who already have restricted leg room. One reader said that because of her body type, if the passenger in front of her reclines their seat, she loses the ability to use the tray table to work while flying.

Even airlines are taking sides.

In April 2019, Delta retrofitted many of its jets to reduce how far the coach and first-class seats could recline. A spokeswoman told CNN it was part of the airline's "continued efforts to make the in-flight experience more enjoyable."

"It's all about protecting customers' personal space and minimizing disruptions to multitasking in-flight," the spokesperson said at the time.

Delta's CEO weighed in, too. In a Friday appearance on CNBC, Ed Bastian said while he doesn't recline his seat in the sky, people should have the right to -- as long as they ask permission.

“If you’re going to recline into somebody, you ask if it’s OK first,” Bastian said. “I never recline, because I don’t think it’s something as CEO I should be doing, and I never say anything if someone reclines into me.”

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2020-02-16 03:10:31Z
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Sabtu, 15 Februari 2020

Tesla Model S range edges closer to 400 miles - Engadget

When Elon Musk said the Tesla Model S was close to achieving 400 miles on a charge, he wasn't kidding. Tesla has updated the electric luxury sedan's stats once again to give it an EPA estimated range of 390 miles (previously 373 miles) in Long Range Plus trim. You could theoretically drive from New York City to Pittsburgh with enough battery life left to go on a brief tour. The Model X, meanwhile, is now estimated to drive 351 miles on a charge instead of the earlier 328 miles.

Real-life results are bound to vary based on the temperature, your use of climate control and your driving habits. However, Musk added that the new figures might be conservative. He claimed that Model S and X cars made in "recent months" can perform better than their official EPA numbers suggest, and that this potential will be made accessible "soon" through a software update. That's likely comforting news for new owners still grappling with the winter chill's effect on their range, and hints that the magic 400-mile benchmark might already be achievable.

You might not want to rush out to get one of these EVs (not that they're what you'd call an impulse buy) if you can afford to wait. Tesla plans to roll out its Plaid powertrain later in 2020, and that combined with a battery capacity increase could offer a substantially larger range boost. Even so, these latest tweaks could make all the difference if you intend to use your Tesla for cross-country jaunts. The question is whether or not these improvements will translate to further gains for cars like the Model 3 and Model Y -- extra range at the high end only matters so much if just a fraction of Tesla's customers can see the benefits.

All S/X cars made in recent months have actually been above stated EPA range. Will be unlocked soon for free via software update.
— Elon Musk (@elonmusk) February 15, 2020

Via: Electrek

Source: Tesla (Model S), (Model X), Elon Musk (Twitter)

In this article: electric car, electric vehicle, ev, gear, green, model s, model x, tesla, transportation

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2020-02-15 17:25:04Z
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