Additional EV Credits Dropped, Strong Tesla China Numbers, Project Highland Sighting

Hey everybody Rob and we're here and today we are talking about a report that additional EV credits that could be introduced through the Renewable Fuel Standard are apparently no longer being considered that has been reportedly dropped so we'll talk about what that means exactly. We've also got new updated insured vehicle numbers out of Tesla and China and some new sighting of Project Highland which we haven't seen for a little bit.

大家好，我是Rob，今天我们要讨论一个报告，即可再生燃料标准可能引入的额外电动车豁免已经不再被考虑了，据报道已被放弃，因此我们将讨论这到底意味着什么。此外，我们还获得了特斯拉和中国最新的保险车辆数字更新以及一些新的高地项目目击情况，这是我们已经有一段时间没有看到的。

Alright looking at the stock I've got two pulled up here today as you guys know yesterday the stock that Google's reporting was wrong a little bit inflated but we caught up to that today Tesla today closing at $221.31 after finishing the day up 1.7% and we do have consensus there with Yahoo Finance as well so good to see that. After hours also both sites reporting that Tesla up another 1.7% not sure if there's been any news or anything like that not that I've seen so interesting to see such a move after hours but nice to see that as well as this run kind of continues for Tesla.

好的，看着股票，我今天选了两支出来，正如大家所知昨天谷歌公司的股票报告有些错误，稍微有些夸大了，但今天我们已经追赶上来了。 特斯拉今天收盘价为221.31美元，上涨了1.7％，与雅虎金融的一致预测相符，这很好。 随后的晚间交易中，两个网站都报告特斯拉又上涨了1.7％，但我没有看到任何新闻或消息，所以对于这样的变化感到有趣，但很高兴看到特斯拉的涨势继续。

We'll start off with China insured vehicle numbers for the last week May 29th through June 4th apparently there were 14,500 insured vehicles for Tesla in China as we can see in the updated chart here that is a record for this quarter if we go back to the last couple of quarters this would be the fifth strongest week across that six plus month time period. So looks like a really strong number here and we've continued to see growth for the last six weeks in a row in the insured vehicle numbers if we think about quarter to date we're now at just shy of 95,000 insured in the first nine weeks of the quarter excluding the first couple of days there in April since those fell into the numbers for Q1. But so far that puts Tesla about 10,000 vehicles ahead of the pace for Q4 and then Q1 obviously a little bit impacted by Chinese New Year but about 23,000 or so ahead of that pace for Q1. So Q2 right now significantly ahead of Q4 and Q1 work. So really nice to see that if Tesla is to set a record this quarter in terms of these insured vehicle numbers they need to average about 10,500 for the rest of the quarter which seems very achievable obviously with the last few weeks average falling above that but we do have the caveat of a little bit of potential production downtime for the Model 3 particularly as we expect Tesla to be working right now on projects highlands. So we'll continue to monitor that but it's within reach even with only Model Y's probably a little bit of a stretch but if they can get some Model 3's in there as well should have a chance at that.

中国特斯拉保险车辆数量最近一周（5月29日至6月4日）达到了14,500辆，这是本季度的最高纪录。根据更新的图表信息，这是过去六个月中五个最强的一周。过去六个星期，特斯拉保险车辆数量持续增长，截至目前，本季度前九周中共有近95,000辆车被保险。如果不算4月的头几天，因为这些数据属于第一季度的范畴，那么特斯拉保险车辆数量将超过第四季度10,000辆左右，比第一季度多了约23,000辆车。当前特斯拉的保险车辆数量在第四季度和第一季度的基础上有了显著的增长。如果特斯拉想打破本季度保险车辆数量的记录，剩下的季度需要保持每周平均保险车辆数约为10,500辆的水平，这看起来是非常可行的。短期内特斯拉Model 3停产可能会对此造成影响，但是经过相关措施的调整，尽可能增加Model 3的投产量，特斯拉仍有机会达成目标。

All right next I want to talk about something that we've talked about on a couple of previous episodes and that is the renewable fuel standard and the possibility of electric vehicles being included in that sort of credit system. So basically the renewable fuel standard as we have talked about before is used to incentivize essentially biogas mixing in with traditional fossil fuels to try to make things a little bit more sustainable. So obviously everyone's got sort of opinions on this and it's a pretty big deal for that industry but basically this is the structure of it so renewable fuel that is blended with traditional fuels generate RAN credits and then those credits can be sold on a marketplace and you can see sort of the market for those over time and there's various different credits at various different levels.

好的，下一步我想谈谈我们之前在几个节目中谈到过的可再生燃料标准以及电动汽车被纳入此类信用体系的可能性。基本上，如我们之前所述，可再生燃料标准用于激励生物气体与传统化石燃料的混合，以尝试使事物变得更加可持续。显然，每个人对此都有自己的意见，并且对于该行业来说，这是一件很大的事情，但基本上这是其结构，可再生燃料与传统燃料混合产生RAN信用，然后这些信用可以在市场上销售，您可以随着时间的推移看到这些信用的市场和各种不同级别的信用。

We're not going to go through all that since we have talked about that before but the news today is that apparently the Biden administration is going to abandon a proposal that was intended to allow electric vehicles to participate in this system because obviously electric vehicles would be a form of alternative sustainable fuel which you know if you're thinking about what this is supposed to incentivize from sort of a sustainability perspective should probably be able to generate credits and there is actually even a conversion ratio in this in the renewable fuel standard for 22.6 kilowatt hours of electricity generating one renewable credit.

我们不会再过多讨论这个话题，因为我们之前已经谈论过了，但是今天的新闻是，拜登政府显然打算放弃一个旨在允许电动车参与该系统的提案，因为显然电动车是一种可持续替代燃料，如果从可持续性角度来考虑，应该能够产生信用点，并且在可再生燃料标准中，实际上有一个22.6千瓦小时的电力转化比，可以产生一个可再生信用点。

So it's kind of all there they're just excluded right now the reason has supposedly been that it's difficult to track exactly where this electricity would be coming from if it's a sustainable source things like that which you know I guess sort of makes a little bit of sense but if there were ways to kind of figure that out and show that it should be something that theoretically should be included.

所以现在这一切都已经存在，只是暂时被排除了，原因据说是因为很难追踪这些电力来自可持续能源的确切来源等问题。我想这有点合理，但如果有办法找到解决办法并证明它应该被纳入，那就应该理论上被包括进来。

So a little bit disappointing to see this this could have been a pretty big deal and it has been expected to be a pretty big deal for Tesla and other electric vehicles now for quite some time obviously though with the passing of the inflation reduction act significant credits exist for electric vehicles so puts a little bit less pressure for anything to be included here you could kind of say that okay maybe some of the difference that was gonna come from this has been rolled into that and you know maybe that makes it a little bit more more reasonable.

有点令人失望的是，这本来可能是一个很大的事件，而且长期以来一直被期望成为特斯拉和其他电动汽车的一次重大成就。不过，随着通货膨胀减少法案的通过，电动汽车获得了重要的税收抵免，因此并不需要在这里加入太多的压力。你可以认为这样做可能会把一些原本会发生的变化转移到税收抵免上，这可能会使这项行动更加合理。

So while it is disappointing to see obviously at least there are some some credits at least kind of leveling the playing field because obviously as we see here there are subsidies going to you know other types of fuels as well. So unfortunate there will probably be some more reporting on this over the next couple weeks as these things get finalized so we'll keep an eye out for any more news on that.

尽管很失望，但仍然可以看到一些优惠措施在某种程度上平衡了市场竞争，因为我们可以看到其他类型的燃料也得到了一些补贴。很遗憾，未来几周可能会有更多关于这方面的报道，因此我们会密切关注任何新闻。

Now also on EV credits we talked previously about the Model 3 standard range and performance sorry standard range and long range being eligible now for the full $7,500 credit so we've talked about that over the last couple of episodes. That so far has only been on Tesla's site but it is now showing up on fuelaconomy.gov as well so this doesn't necessarily mean it's confirmation that this is you know sort of confirmed by the government but because this is basically what manufacturers are reporting but still probably a positive sign to see that updated on the fuel economy website as well.

现在关于EV积分，我们之前讨论过Model 3标准型和性能型，抱歉标准型和长续航型现在都有资格获得完整的7500美元减免，所以我们在过去几期节目中已经讨论过了。到目前为止，这只出现在特斯拉的网站上，但现在也出现在fuelconomy.gov上了，这并不一定意味着这是政府确认的结果，因为这基本上是由制造商汇报的，但看到这个更新出现在燃油经济网站上仍然可能是一个积极的信号。

Alright next we've got an update on projects highlighted it's been a while since we've seen prototypes rolling around but Ryan from the kilowatts has spotted another one testing so we can kind of see here a pretty good shot of the front of the vehicle it very much looks like the sort of leaked image that we had where you've got more of a straight across line there versus sort of like the sorry about my mic there versus sort of the little droopy mouth on the current Model 3 if you want to call it that so it looks you know like pretty solid confirmation that that leak was probably quite accurate I think that's relatively you know strong consensus at this point but still I think this you know furthers that sort of point of view and then we also see some shots at the back it looks like maybe some updated taillights probably no surprise there and then people are also able to spot a little bit of a diffuser underneath a vehicle like we have seen on the Model S let me find that here so you can see that underneath the vehicle there as well so hopefully we're not too far out from seeing this without some covers on it but still nice to see you know any little bit that we can obviously hardware 4 looks like there as well which a no surprise and possibly some new headlights which again also no surprise but a little bit tough to get a look at with the coverage there.

接下来我们将给大家带来项目方面的更新。虽然有一段时间没有看到原型车上路的情况，但来自Kilowatts团队的Ryan发现了另一辆正在测试的车型。从这张图片可以看到车辆的前部，它非常像我们之前所曝光的那一张图片，与当前Model 3车型相比，它的前脸更加平直，没有下垂的感觉。这就很有可能证实了我们之前的曝光信息。此外，我们还能看到一些车尾的照片，车尾灯也有所更新，这也并不意外。此外，人们还能看到车底下的扩散器，这与我们之前看到的Model S车型非常类似。希望不久之后我们就能看到没有遮盖物的最终产品，但目前也很高兴能看到任何小细节的硬件升级，包括硬件4和可能的新头灯。虽然由于遮盖物的原因，我们无法清晰地看到这些，但这也能够为我们提供更多的信息。

Model 3 inventory as we wait for Project Thailand is continuing to rise you can see the chart here we talked about this a couple of times over the last few weeks but we did have a really big jump yesterday and I think what this jump is is probably Tesla adding the new long range version to inventory so those are really showing up pretty significantly in inventory now obviously it looks like Tesla's producing these in high volume at this point so you can see a lot of different configurations here this is just a zipcon in California but looks like a lot of these have been added now to inventory so whether that's you know a sign of Model 3 demand being slow or people kind of holding off for Project Thailand kind of remains to be seen but I think that's probably the explanation for the significant jump there hopefully someone will get one of those soon and we can get a little bit more information on the batteries if these are showing up in inventory we should probably be just a couple of days away from that remember that the question right now is if these are using lithium iron phosphate because this is a lower range vehicle at 333 miles maximum versus 358 before the Model 3 long range kind of went away and then has resurfaced so questions on what's going on with the battery there and hopefully we'll get some more information on that relatively soon.

随着我们等待泰国计划的进行，Model 3的库存数量不断增加，您可以在此查看图表。我们在过去几周谈论过几次，但昨天出现了一次大幅跳跃，我认为这次跳跃可能是特斯拉将新的长续航版本加入到库存中，因此这些车型在库存中的数量显著增加。现在很明显特斯拉正在大量生产这些车型，所以在这里可以看到很多不同的配置。这只是加利福尼亚州的一个例子，但看起来很多这些车型都已经加入了库存中。无论这是否说明Model 3的需求放缓，或者是人们在等待泰国计划，都有待观察，但我认为这可能是一种重要的解释。希望很快有人能拿到其中的一辆，并且我们可以获得更多关于电池的信息。如果这些车型已经出现在库存中，我们应该只需要再等待几天，就能得到答案。现在的问题是，这些电池是否采用了磷酸铁锂技术，因为这是一种续航里程更短的车型，最大里程是333英里，而长续航版Model 3之前的最大里程是358英里。所以我们还有疑问，希望能尽快得到更多的信息。

Alright last few things for today so Ray for Tesla here tweeting about something that happened in China obviously we've had various reports over the years of you know unintended acceleration or failure to break from Tesla vehicles that then results in accidents this person was in a similar situation and actually admitted that it was not a break failure but accidentally hitting the wrong pedal so kind of nice to see that from a customer that you know admitted the mistake as obviously ends up being the case once the data logs are reviewed for a lot of those other cases so nice to see that Elon commented on that as well today.

今天的最后几件事要说，这里是特斯拉的雷（Ray），在推文中谈论中国发生的一些事情，显然，多年来我们已经有了各种有关特斯拉车辆意外加速或无法制动而导致事故的报告，这个人也处于类似的情况下，并实际承认这不是制动失灵，而是意外踩错了油门。看到客户承认错误显然是件好事，因为在很多其他情况下，一旦查看数据日志，情况就会变得清晰。好的是，埃隆今天也对此发表了评论。

Mobileye so obviously this is wholly owned now at least in terms of the voting shares by Intel so they are going to offer 35 million shares about 1.5 billion dollars in equity for conversion of class B to class A stock the class A stock does trade but the class B stock has 10 to 1 voting rights so essentially Mobileye controls the entire voting rights for the stock prior to this you can see they've got 99.3% of voting power there this is going to drop now to 88.7% after this issuance so they lose I guess a little bit of control but not really with this issuance but getting you know liquidating a little bit of that stock for in exchange for some cash which you know always a little bit interesting to see for a company like this that theoretically should be in a sort of prime position to make gains if they make progress on the things that they're working on so always kind of interesting to see you know updates on that.

这意味着，Mobileye现在完全由Intel持有控制股份，包括投票权，他们将发行3500万股，价值约15亿美元，用于将B类股票转换为A类股票的股票权益转换。A类股票可以交易，但B类股票具有10:1的投票权，因此Mobileye控制着股票的全部投票权。在此之前，你可以看到他们拥有99.3%的投票权，但此次发行之后这将下降到88.7%。这样，他们失去了一些控制权，但不会对此次发行产生影响，只会以一些现金来换取一些股票。对于这样一家理论上应该在他们正在努力的目标上有所进展的公司，这种情况总是有些有趣的变化。

Then lastly we've got a new prototype vehicle for Buick which falls under the GM brand or GM conglomerate I guess in China they've unveiled the proxima prototype which as we can see here looks like a pretty cool car maybe except for the Buick badging there on the front but looks pretty neat looks pretty nice as you can see though the doors here reminiscent of Falcon Wing probably not Falcon Wing they don't look like they're double-hinged there but I guess maybe those would be called butterfly wings not sure exactly go wing probably but as we've seen from GM in the past particularly if you if you look back at the the Chevy Volt so the plug-in hybrid version that they initially started with if you look back at that prototype vehicle versus what it eventually turned into I think hopes are probably pretty low for this actually making it to market in any sort of a similar way to how this vehicle looks today but still interesting to see the concept vehicle nonetheless.

最后，我们有了一款新的别克原型车，它属于通用品牌或通用集团，我想在中国他们推出了远航原型车，正如我们在这里看到的，它看起来是一辆相当不错的车，除了前面的别克标志外，看起来相当酷，相当漂亮，你可以看到这里的门有点像猎鹰翼，可能不是猎鹰翼，它们看起来不像是双铰链的，但我想可能会被称为蝴蝶翼，不太确定。但正如我们过去从通用汽车所见，特别是如果你回顾起一开始推出的混动车型雪佛兰电动车的原型车，与它最终成为的车型相比，我认为对于这辆车今天的外观是否能够在市场上推广，人们可能的期望是相当低的，但看到设计原型仍然很有趣。

All right that'll wrap it up for today then so as always thank you for listening make sure you subscribe and sign up for notifications you can also find me on Twitter at tessel podcast and we'll see you tomorrow for the Wednesday June 7th episode of tessel daily thank you.

好的，今天的节目就到这里，感谢大家一如既往的收听，请确保您已经订阅并开启通知。同时，您还可以在 Twitter 上找到我，用户名为“tessel podcast”，我们明天再见，也就是6月7日星期三，谢谢。