<figure class="kg-card kg-image-card"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/151c323fa201f1ab4feff6bc7ee48117.png" class="kg-image" alt loading="lazy"></figure>The retail sector provides <a href="https://www.selectusa.gov/retail-services-industry-united-states">employment</a> to 29 million people directly and supports 42 million indirectly. These pandemic times have brought home how browsing the grocery aisles is part of our normal life that has been disrupted.Organized retail touches several aspects of industry. From real estate operations to merchandising, to shipping &amp; logistics, to customer loyalty programs to old school flyer programs to shopping list apps, the list goes on and on.The grocery industry which is a significant chunk of the organized retail sector has a slim profit margin of <a href="https://thegrocerystoreguy.com/what-is-the-profit-margin-for-grocery-stores/">2.2%.</a>Time has not been kind to this sector. In the UK, over a 10 year period, margins have halved, falling from 8.8% to 4.1%.The industry has to look for efficiencies like never before.Whether a retailer is an old school brick and mortar store or an online only store, from an infrastructure standpoint, there is a large overlap between the two:<figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://iaxds62ruoojbg1k4180.cleaver.rocks/images/posts/5cb9f07298df483aad201d808da83fc8.jpg" class="kg-image" alt loading="lazy"><figcaption>Unleashing the Power of Machine Learning &amp; AI for the Retail Sector</figcaption></figure>The onset of Machine Learning and Artificial Intelligence has made waves at both kinds of retailers.Here is a quick review of how some retailers are using technology to shave off costs.Automation &amp; Warehousing:Kroger, a leading grocer in the US has been partnering with <a href="https://www.supermarketnews.com/online-retail/kroger-names-location-sixth-ocado-warehouse">a robotics company</a> from the UK to automate a few warehouses to speed up picking of items from its warehouses. Speed is a major consideration for the online ordering segment and continues to push the industry to focus on the use or robots.Walmart has been experimenting with <a href="https://corporate.walmart.com/newsroom/2020/01/08/how-walmarts-alphabot-is-helping-to-revolutionize-online-grocery-pickup-and-delivery">similar robots</a> named Alphabots in partnership with a different vendor. Produce and other fresh items continue to be picked by hand. Alphabots enable real time data sharing and over time this will help better stacking in the warehouses as patterns in items that are frequently ordered together will begin to surface.<h1 id="facial-recognition-loyalty-management">Facial recognition &amp; Loyalty Management</h1>Finally, retailers are no longer content to identify us via swipe of a loyalty card at the point of sale. They want to identify us as soon as we enter the store. The iPhone X has helped to normalize <a href="https://www.theguardian.com/technology/2019/aug/04/facial-recognition-supermarket-facewatch-ai-artificial-intelligence-civil-liberties">facial recognition</a> and using this technology retailers aim to provide a customized experience. By using facial recognition systems retail staff will know what type of products you buy and what your average spend is, so they can give more love to higher spenders. They?ll be able to use software that reads emotion to identify when you are frustrated and notify staff to respond.<h2 id="kroger-app-in-store-recommendations">Kroger App &amp; In-Store Recommendations</h2>Grocery chain Kroger, in collaboration with Microsoft, is testing out the idea of <a href="http://www.digitaljournal.com/tech-and-science/technology/kroger-and-microsoft-collaborate-on-digital-shelf-technology/article/540456">smart shelves</a>. When a customer walks down an aisle and has their Kroger app open, sensors identify the shopper and highlight products they might be interested in. The app might highlight gluten-free products for a gluten-free shopper or kid-friendly snacks for a parent. The app can also provide personal pricing and alert shoppers if an item on their shopping list is on sale.<h2 id="hm-uses-ai-to-keep-popular-items-stocked-popular">H&amp;M Uses AI to Keep Popular Items Stocked Popular</h2>Clothing store H&amp;M relies on staying on top of trends to be successful. The store uses <a href="https://www.reuters.com/article/us-h-m-strategy-ai/back-on-trend-hm-makes-ai-loyalty-drive-to-ride-fashion-cycle-idUSKCN1RT1U7">Deep Learning</a> to analyze store receipts and returns to evaluate purchases at each store. The algorithm helps the store know what items to promote and stock more of in certain locations. The data could find that floral skirts sell well at urban stores and change the inventory to match what customers want.Coca Cola has connected a third of its <a href="https://internetofbusiness.com/supply-chain-iot-coca-cola/">vending machines</a> to the Internet. The company also has its freestyle machines where a customer can combine different combinations of flavours to create their own creation. They have an integration with apps that remind customers when to get hydrated (obviously with a Coke product). Coca Cola also has a mobile wallet which enables customers to use facial id to buy a coke at select kiosks.Facial Recognition to Reduce shopliftingFacial recognition is being used in multiple ways in retail stores. Stores in the UK are using it to detect if purchasers of <a href="https://www.cnet.com/news/with-facial-recognition-shoplifting-may-get-you-banned-in-places-youve-never-been/">alcohol</a> meet the legal drinking age.Stores that have identified shoplifters can share these profiles with other stores too. Shoplifting costs retailers roughly $35.5 billion each year. The initial database can be created by uploading videos of documented shoplifters, organized retail crime associates and disgruntled ex-employees. Of course the Privacy folks may have a field day with this approach.According to the National Retail Foundation, 10.8% of returns made each year are fraudulent, costing the retail industry $9.6 billion a year. Facial recognition also has the potential to protect retailers from a specific kind of return fraud. By uploading images of customers that suspected of abusing generous product return policies, companies can be alerted when such customers come in or make a purchase.Facial Recognition and AR used by SephoraSephora, is a leading example of using AR (augmented Reality) to let the consumer experience a product that many first thought was not suitable for online retail. Sephora took their time and only when they were convinced that the technology had achieved a certain level of preciseness, did they opt-in. Over 20,000 products sold by the retailer were added to the program. By 2018, the <a href="https://www.techrepublic.com/article/how-sephora-is-leveraging-ar-and-ai-to-transform-retail-and-help-customers-buy-cosmetics/">Sephora Virtual Artist</a> has seen 200 million shades tried on, and over 8.5 million visits to the feature, according to the company.IKEA has also use a <a href="https://gizmodo.com/ikeas-expands-augmented-reality-app-lets-you-fill-an-e-1838362429">similar concept</a> where before you buy, you can see how the furniture may look in your home.With so much going on in the retail industry, can any one afford to stand still?

Taha Sherif

Premium reporting on technology, startups, VC funding, and software from Techfastly tagged with AI. Read about themes, trends and strategies for AI.

Artificial Intelligence

Unleashing the Power of Machine Learning & AI for the Retail Sector

Virtual reality or VR is a fully immersive computer-simulated environment that gives the user the feeling of being in that environment instead of the one they are actually in. Many video games have already developed the technology to put the user in an interactive world, in the driver?s seat of a car, on a battlefield, or even in your own little town. But, what about discovering the real world using VR?How would it feel if you were to stand on the top of Burj Khalifa or to view the beautiful Taj Mahal from a bit closer or to fly over the Arc de Triomphe of France, live just by sitting on your couch? Well, a VR based application of Google can do that for you.<figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/qEyXXONlbNVEYzFCILXSURlwhYrQoq76Na0akO2J-_6CrDIDzt3H8BGFJadfSeX-_fN-cKXtPCbRg0lLd0YIL2Fn_sWdhpFTvFNBzHAMLdne5Zy7vAQNYPr-IOk0yCWFXQqPI_g" class="kg-image" alt loading="lazy"></figure>Since its foundation, Google Earth has been brought to various platforms: from desktop to mobile devices, from native to web. This article discusses bringing Google Earth to a virtual world that poses unique user interaction challenges and rendering.?We present solutions to help users navigate planet-sized worlds in VR without losing context or becoming nauseous. Google Earth VR, is the next step to help the world see the world. With Earth VR, you can fly over a city, stand at the edge of a mountain, and even soar into space.? This is how google developers had described their newborn.<h2 id="what-can-you-do-in-google-earth-vr">What can you do in Google Earth VR?</h2>The app adds Street View so users can easily move between 3D satellite views. This highly anticipated update to Google Earth VR allows you to explore the immersive 360-degree images offered by Street View of 85 countries. Moreover, the giant search engine makes it possible to visualize almost all roads around the world in 360 degrees. Photographed and adjusted by the Google Maps teams, the images from Google Street View makes it easy to orient yourself, discover a place virtually, and navigate freely in almost any city in the world.The new feature is relatively easy to navigate; users can zoom in on a location using VR gear, and can pull up a lens to take a look directly into the 360 sphere. You?ll not be able to do anything abnormal, like walk around the photos. Still, this update gets you closer to the action, gives you a superpower of teleportation so you can travel all around the world in a few seconds.<figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/49qQ7BGUyRLBGcQa1IuQNlaCMRnhJstFzc7lcMojJXhmEA1rBCdT2hk09KTZ9kQt_1paTtr8sU1lJLgkLTnyEdhWPIyEYidhP8IuCrfxtRPmeCSSPuVnpQTMM8DR5j8WWTeXdVQ" class="kg-image" alt loading="lazy"></figure>Ten years after its creation, Street View has just been integrated with Google Earth VR. Thus, users can now walk the streets of the whole world in virtual reality, in the first-hand view, on a human scale, just like in real life. For many people, a dream came true. Many internet users enjoy spending hours wandering around the world using Street View. Thanks to this update, it will now be possible to do so in an immersive and natural way. You?re not sitting back, scrolling through a computer screen looking at static maps. You?re freaking Superman! Fly through the Eiffel Tour or over major cities and landmarks. Or, maybe you want to teleport to destinations around the globe in an instant! Experience familiar places in a whole new way, and explore new places in an exceptional and unusual way never before possible. As users fly around the world in Google Earth VR, available streets for ?Street View Mode? will be indicated by spheres. As in the web version or mobile app, users will be able to use their controllers to move forward, backward, or spin around. This new update also improves the loading speed of the application.<figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/R-URYPr8LLt3Fg7WGgYxJOXMoJ32WggavOMz93JtO97YekkAJsyptHk4dBzfPfJpASW2dLPMrcLnpwm_cAo1KyOXSc1KfUCblQhQB6AyYOp6IfEESJ0mMEJegQZyYF1NSI-BmQk" class="kg-image" alt loading="lazy"></figure> In addition to that, you can zoom down to street level and explore through the Google Street View database. While the smells and the sounds are not included yet, it?s almost convincing enough to believe you are really there in person. You can also enjoy virtual tourism with hand-picked destinations and special cinematic presentations. This free app is a great way to place virtual learning by letting students travel around the earth and explore our planet. You can check this link to know more about the making of the Google Earth VR application: <a href="https://www.researchgate.net/publication/318742503_The_making_of_Google_earth_VR">https://www.researchgate.net/publication/318742503_The_making_of_Google_earth_VR</a>This significant improvement to Google Earth VR represents a new milestone for VR tourism. The next step will of course be to be able to walk, not in photographed streets, but in real-time filmed streets. Afterward, we can also imagine the possibility of breathing the smells, hearing the sounds, feeling the local wind. Of course, such a technological breakthrough will certainly not come for several decades, but Street View VR is the first step in that direction.Required EssentialsThe essentials that one requires to enter into the world of VR are a smart-phone, a PC, or a similar console to run the application, a headset to hold the view for you in front of your eyes, and other inputs to control your movements (VR controllers). This technology aims to make your experience as real as possible. This technology is so developed that it is working smoothly on almost every android set, which is contrary to other similar techno giants like HTC and Samsung.You can find the answer to different questions about the app, such as What does Google Earth VR cost? Or Can I use Google Earth VR without room tracking? You can find the answers <a href="https://focusonvr.com/content-experience-earth-like-never-before-with-google-earth-vr/">here</a>.To conclude, if you?ve got an HTC Vive, Vive Pro, or an Oculus Rift, there?s no reason you shouldn?t download and try Google Earth VR. It?s free and a fantastic experience that you can?t describe in words. You have to try to see whether or not you will enjoy it.

Google Earth VR

Technological advances continue to revolutionize the automotive sector by locating new forms of mobility. Among them, self-driving, driverless cars present a significant challenge to the auto insurance market.<h2 id="tesla">Tesla</h2>The most recent development of a self-driving car was developed by Tesla and was named the Tesla autopilot. The Tesla autopilot was developed for hands-free control on highways and freeways and implemented through software called Model S.<figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/3c1EYx-EOSOYfBJApvJqcD2Jkf6Q_lL6G5qNLSZNlmPjo4WoioaMn8_9atCItny8S4m6FHlREPwWHdajlpw-6g-L8GDBLTMEEDqDVtGK9v-h6kDF2m51knpgMhGrff3TSldTnagv" class="kg-image" alt loading="lazy"></figure>Specializing in 100% high-end electrics, the American automobile manufacturer Tesla of the billionaire Elon Musk - also the founder of SpaceX - launched the successful Model S sedans in 2008. Actually, the company is valued at over $ 30 billion and it becomes the world?s most valuable carmaker. This could make the start of a new era in the auto industry especially when investors like The Vanguard Group, Inc., Capital Research &amp; Management, and Baillie Gifford &amp; Co are engaged in making the name of Tesla. <h3 id="tesla-s-batteries-are-the-best-in-the-industry">Tesla?s batteries are the best in the industry</h3>It is axiomatic that Tesla is at the top of the electric vehicle race because it has more high-powered battery tech and is capable of taking risks. For more than a decade, Tesla has been designing battery-powered vehicles from the ground up and using Artificial Intelligence-based software to make the batteries more efficient. According to <a href="https://insideevs.com/news/343998/monthly-plug-in-ev-sales-scorecard/">InsideEVs</a>, in the first nine months of 2019, Tesla maintained its control on the electric vehicle market at nearly 60 percent of new sales thanks to its powerful batteries. Not only for their batteries, people buy Tesla cars, but also for many other features such as the autopilot that can execute lanes changes and steer cars on highways. Last but not least, the CEO of the Californian firm has unveiled a large number of innovations that should allow him to offer a Tesla at an "affordable" price by 2023.<h2 id="waymo"> Waymo</h2>When talking about self-driving cars, we cannot disregard the driverless taxi! Google that owns the self-driving car company Waymo, announced its autonomous vehicles in March 2020. Google?s idea to develop a self-driving car began back in 2009 at the Google X lab, the company?s arm for groundbreaking new technologies. The project took the working name Chauffeur and was led by Sebastian Throne, the former director of the Stanford artificial intelligence laboratory, and Anthony Lewandowski founder of 510 systems. In 2015 Lewandowski departed the project completely explaining that he was eager to commercialize a self-driving car as quickly as possible and by the end of the year, it was revealed that chauffeur had changed its name to Waymo and would now be considered as an independent company within the Google family.<figure class="kg-card kg-image-card"><img src="https://lh5.googleusercontent.com/RyAikiVE_Pp3KbvlMrnn2fPNjXi72i5IxvA5SvYEXw2vBO012cLTNKkM1EpEaN_FO2CSNwt631Nmm4YwO7flNMdGkEXGeKXUWNmTcZgvB-3pAJri4s-ynn16DFiARnNoMqZ94FE_" class="kg-image" alt loading="lazy"></figure><h1 id="how-does-waymo-s-self-driving-car-work">How does Waymo's self-driving car work ?</h1>With a forward-facing camera that works with 8 others stationed around the car to provide 306 degrees of vision, Waymo?s self-driving car has the ability to detect everything around it which makes the autonomous drive safe. Thanks to the radar sensors which are tightly integrated into the hybrid minivan created by Fiat Chrysler, the intelligent car can detect objects in rain, fog, or snow. Finally, the car can see its surroundings based on the lidar that shoots lasers. In addition to the camera and radar sensors, Waymo cars use microphones to detect sirens from emergency vehicles to make the functionality more independent from human intervention. <h2 id="argo-ai">Argo AI</h2>Co-founded in 2016 by Bryan Salesky and Peter Rander, veterans of the <a href="https://en.wikipedia.org/wiki/Google">Google</a> and <a href="https://en.wikipedia.org/wiki/Uber">Uber</a> automated driving programs, Argo AI is now one of the best self-driving cars in the world. Its two major investors are Ford motors (2017) and Volkswagen Group (2020). In June 2020, Argo was valued at $7.25 billion. Actually, the company employed over 1000 employees in different places such as Pittsburgh, Detroit, and Munich. In 2017, Ford Motor Company had announced that it was to invest over the next five years $1 billion in Argo AI, to develop a virtual driver system for the automaker's autonomous vehicle coming in 2021. Ford became the company?s largest shareholder and this enabled the Argo team to hire 200 additional employees including members of Ford's R&amp;D team. <figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/MJf1q2la2pdacGbzMAQldN846FmyaFb5i6xgx62hXxQPYwVIKjbjGzdLHlrtZb2XptXqYtxL0BCVUHlJcYGgWDho6yIin5w8sqQUKZmQXsJWL0hl5TuWWGxN5oUiY0Bc54xoTIKC" class="kg-image" alt loading="lazy"></figure> The Argo AI car has new sensors, high-resolution cameras with wide dynamic ranges, and a 360-degree field of view. In 2019, based on the Ford Fusion Hybrid, the Argo team had increased computer processing power, and heating and cooling systems improvements and they finally came to introduce their third-generation test vehicle. As the CEO, <a href="https://www.argo.ai/team/bryan-salesky/">BRYAN SALESKY</a> said: ?Our mission is not to replace the personal freedom that driving provides, but rather to build technology to empower mobility products that offer choice.? Argo AI is in the right way to be among the leaders of driverless cars.<h2 id="gm-cruise"> GM Cruise</h2>After it successfully graduated from Y-Combinator, a startup accelerator that mentors up-and-coming entrepreneurs, Cruise was acquired by GM in March 2016. Upon acquisition, Cruise had around 40 employees then, in September 2016 the company had over 100 employees. Cruise initially focused on developing direct-to-consumer kits to retrofit vehicles with limited self-driving capabilities but now it changed its strategy and began writing software to be used for fully self-driving vehicles. In April 2017, GM announced plans to invest $14 million to expand Cruise operations in California. A year after this announcement, Cruise got new investors: Softbank's Vision Fund with $2.25 billion and Honda with $750 million into the company which made the competition with Waymo aggressive. <figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/PmSIZwdahJcSKSMe6-upT5CkOK2eTeHIGapCorE4VOixByiDByTk872oLntUQCoTokTuBzVXUxTY00Xmqaef7cMiFuEm0O0dHE72ppppxslZ-m84HSlXQIn6eQ2uk1hjVcBbeO3p" class="kg-image" alt loading="lazy"></figure><h1 id="what-does-cruise-car-look-like">What does Cruise car look like?</h1>Check this <a href="https://www.youtube.com/watch?v=X3E7p4S_1m4&amp;ab_channel=TheVerge">link</a> to see how the Cruise car looks. Cruise missed its chance to be the first who launch a taxi service and it missed its chance to be the first to take safety drivers out of the front of the vehicles, but with this car, it has the opportunity to be the first to do something maybe even more radical that changes the conversation, move beyond the car and come up with an entirely different way of getting around.

Self Driving Cars

T?sla may b? a n?wbi? in th? auto industry, but it quickly b?cam? a big shot on Wall Str??t.

Tesla Hits a $500 Billion Market Cap

T?sla may b? a n?wbi? in th? auto industry, but it quickly b?cam? a big shot on Wall Str??t. Th? ?l?ctric car manufactur?r's stock continu?d to ris? by mor? than 4% in November 2020, and its total mark?t valu? outstrip?d $500 billion for th? first tim?. T?sla's mark?t valu? ros? to mor? than $520 billion on Tu?sday, November 2020.<h2 id="t-sla-s-history-and-growth"> T?sla's History and Growth</h2>T?sla Motors was found?d in 2003 by Am?rican ?ntr?pr?n?urs Martin Eb?rhard - T?sla's Chi?f ?x?cutiv? Offic?r (C?O) and Marc Tarp?nning - Chi?f Financial Offic?r (CFO) and nam?d aft?r th? S?rbian Am?rican inv?ntor Nikola T?sla . It was principally ?stablish?d to d?v?lop ?l?ctric sports cars. Th? company?s funding com?s from multipl? sourc?s, th? most famous b?ing PayPal co-found?r Elon Musk, who has donat?d mor? than $30 million to th? n?w company sinc? 2004 and s?rv?d as th? company?s chairman. <figure class="kg-card kg-image-card"><img src="https://lh4.googleusercontent.com/ms3GKdJjo3tIrd3eUe_DCsmr6_uIo1XtJZaHBTIo0dJT8Jf_UtRfFxoJoyMwZhyyG2DGJRaLxPt1SRK1CxjWmNk_Wh7bVqVrVy5Y-Q3u5n2rBzvHsD_rbOPe1Pm81FLZCB2C2RNC" class="kg-image" alt loading="lazy"></figure> T?sla Motors r?l?as?d its first car in 2008 nam?d Roadst?r, a pur? ?l?ctric sports car. Wh?n t?sting th? car, a singl? charg? can r?ach 245 mil?s (394 kilom?t?rs), which is an unpr?c?d?nt?d mil?ag? for mass-produc?d ?l?ctric v?hicl?s. Oth?r t?sts hav? shown that its p?rformanc? is comparabl? to many gasolin?-pow?r?d sports cars: Roadst?r can acc?l?rat? from 0 mph to 60 mil?s (96 kilom?t?rs) in l?ss than 4 s?conds, and can r?ach a top sp??d of 125 mil?s (200 kilom?t?rs) p?r hour. At th? ?nd of 2007, Eb?rhard r?sign?d as chi?f ?x?cutiv? offic?r and pr?sid?nt of t?chnology and join?d th? company's advisory board. In 2008, h? announc?d his d?partur? from th? company, although h? was still a shar?hold?r. Tarp?nning, who s?rv?d as th? vic? pr?sid?nt of ?l?ctrical ?ngin??ring and ov?rsaw th? d?v?lopm?nt of Roadst?r's ?l?ctronic and softwar? syst?ms, also l?ft th? company in 2008. Musk tak?s ov?r as C?O. In 2010, T?sla's initial public off?ring rais?d approximat?ly $226 million. In 2012, T?sla stopp?d producing th? Roadst?r to focus on its n?w Mod?l S s?dan, whos? p?rformanc? and d?sign won prais? from car critics. It is ?quipp?d with thr?? diff?r?nt batt?ry options and has an ?stimat?d cruising rang? of 235 or 300 mil?s (379 or 483 kilom?t?rs). Th? batt?ry option with th? high?st p?rformanc? can acc?l?rat? from 0 to 60 mil?s (96 kilom?t?rs) p?r hour in a littl? ov?r 4 s?conds, and has a top sp??d of 130 mil?s p?r hour (209 kilom?t?rs). Unlik? a conv?rtibl? sports car wh?r? th? batt?ry is install?d in th? front of th? car, th? Mod?l S has a floor und?r th? floor. B?caus? of its low c?nt?r of gravity, it provid?s additional storag? spac? in front and improv?s handling. Th? T?sla Autopilot is a form of s?mi-autonomous driving that was launch?d on th? Mod?l S (and lat?r oth?r mod?ls) in 2014. <figure class="kg-card kg-image-card"><img src="https://lh6.googleusercontent.com/6ulc-vS-JzArOwo3YzMe0MkmWOLkaJMuetVOZEONBtR0obMTdz6tQreJgDo2p7__Jz9_HARcMWPuDRp2CT68iGzfrwGUw7A8VBlSk74fb24_T2QYDUMh3bblfOSxDm0BJ9u46M98" class="kg-image" alt loading="lazy"></figure> At th? b?ginning of 2012, T?sla ?stablish?d gas stations call?d Sup?rcharg?rs in th? Unit?d Stat?s and Europ?, d?sign?d to quickly charg? batt?ri?s without any additional cost to T?sla own?rs. Th? mor? r?c?nt v?rsions of th?s? stations ar? call?d "T?sla stations" with th? ability to compl?t?ly r?plac? th? Mod?l S batt?ry pack.T?sla r?l?as?d Mod?l X in 2015, which is a "crossov?r" v?hicl? (a v?hicl? with th? charact?ristics of a sports v?hicl? but built on a car chassis). Mod?lX has a maximum cruising rang? of 295 mil?s (475 kilom?t?rs) and a maximum of s?v?n s?ats. Du? to th? d?mand for ch?ap?r cars, th? Mod?l 3 is a four-door s?dan with a rang? of 220 mil?s (354 kilom?t?rs) and a pric? of $35,000. Production b?gan in 2017. Th? company is also involv?d in solar products. In 2015, a s?ri?s of batt?ri?s for storing solar pow?r us?d by hom?s and busin?ss?s w?r? launch?d. T?sla acquir?d SolarCity, a solar pan?l company, in 2016. In 2017, th? company chang?d its nam? to T?sla, Inc. to r?fl?ct that it no long?r only s?lls cars. <h3 id="t-sla-s-mark-t-valu-xc-ds-500-billion-for-th-first-tim-">T?sla's mark?t valu? ?xc??ds $500 billion for th? first tim? </h3>T?sla's stock has "?xplod?d". Th? pric? p?r shar? ros? 9.7% to clos? at $524.86. This is a big l?ap from th? low of $178.97 on Jun? 3, 2019, but sinc? th?n Elon Musk's ?l?ctric car company has b??n st?adily r?bounding. Why do?s this happ?n, and why is th? stock pric? today mor? than $500 p?r shar?? Th?s? ar? th? words of ?xp?rts. For start?rs, "blasting" is just a way to show that th? stock pric? has ris?n in a short p?riod of tim?. It is usually us?d to indicat? th? rapid ris? in th? stock pric? of an IPO, but it can also b? us?d for any typ? of stock. Th?r? ar? s?v?ral r?asons why th? ris? has b??n so fast: <ol><li>Optimistic pric? targ?t: Opp?nh?im?r analyst Colin Rusch rais?d T?sla's targ?t pric? from $385 to $612. This is an incr?as? of almost 60%. To prov? this, Rusch wrot? a not? to inv?stors, stating that T?sla?s ?risk tol?ranc?, ability to l?arn from past mistak?s/?rrors, and gr?at?r ambitions than its p??rs b?gan to b? quick?r to thos? unabl? or unwilling Transport compani?s that innovat? locally, pos? an ?xist?ntial thr?at." </li><li>Smart growth: In January last y?ar, T?sla announc?d that it would build a $2 billion factory in Shanghai to produc? a mor? affordabl? Mod?l 3 and provid? Chin?s? p?opl? with th? opportunity to buy Am?rican cars without imposing high tariffs on th?s? Am?rican manufacturing countri?s. Musk announc?d that th? facility will b? compl?t?d b?for? th? summ?r and said that th? plan will produc? 150,000 cars p?r y?ar, which mak?s Musk satisfi?d. Th? company d?liv?r?d 112,000 v?hicl?s worldwid? in 2019. </li><li>Siz? matt?rs: S?v?ral h?adlin?s stat?d that th? soaring shar? pric? has brought T?sla's mark?t valu? to $93 billion, making it mor? than Ford and G?n?ral Motors. Both traditional compani?s ar? trying to comp?t? with T?sla by manufacturing th?ir own ?l?ctric cars. </li></ol>Today, th? valu? of T?sla (TSLA) ?xc??ds th? total mark?t valu? of most major automak?rs in th? world: Toyota (TM), Volkswag?n (VLKAF), G?n?ral Motors (GM), Ford (F), Fiat Chrysl?r (FCAU) and PSA Group (PUGOY). Th? mil?ston? is a gratifying y?ar for T?sla's stock p?rformanc?. Sinc? th? b?ginning of this y?ar, th? company's stock pric? has ris?n 550%-Tu?sday, 24th of Nov?mb?r midday trading at $549, up from $86 in January 2020. T?sla joined th? S&amp;P 500 ind?x b?for? trading on Monday, D?c?mb?r 21. This mov? has push?d up th? stock pric? ?arli?r b?caus? fund manag?rs with funds that track th? S&amp;P 500 will n??d to buy th?ir shar?s as a portfolio. Morgan Stanl?y also rat?d T?sla's stock as "buy" last w??k, which is th? first tim? in many y?ars sinc? th? company rat?d th? stock as "buy." According to th? Bloomb?rg Billionair? Ind?x, th? ind?x tracks th? w?alth of th? world's 500 rich?st p?opl?. By 2020, Musk's n?t ass?ts hav? incr?as?d by mor? than $100 billion, th? larg?st incr?as? in th? ind?x. In January, Musk rank?d 35th on th? list. H? is now th? first.

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