Tesla Undercuts Charging Competition by 70%, New Charging Product, China Updates

Hey everybody Rob Merr here and today we've got a couple updates on Tesla charging, some news items out of China and interesting job listing for Tesla and a few other items as well. Another tough day for Tesla stock today, finishing down 2.8% to close at $232.96, while the Nasdaq was down 1.1% on the day today. I have seen in various places a couple of mentions of Tesla being on some 18-day losing streak or something like that. Not sure where that's coming from, that's not accurate and only takes like a second to check, but we've had a number of positive days over that period of time, whether you're looking at it from a trading day perspective or a calendar day perspective. So if you happen to see that as well, you can ignore that or let them know that it is not correct.

大家好，这里是Rob Merr。今天我们将为大家带来有关特斯拉充电、中国的一些新闻以及特斯拉所发布的一份有趣的求职信息的更新。对特斯拉股票来说，今天是又一个艰难的一天，收盘时下跌了2.8%，收于232.96美元，而纳斯达克指数在今天下跌了1.1%。我在各个地方看到了特斯拉处于连续18个交易日或者类似的下跌的说法，但我不确定这是从哪里得出的，因为这不准确，并且只需要一秒钟的时间来确认，但在这段时间里我们确实有过一些正面的交易日或者一个历法日的表现。所以如果你也看到了类似的消息，你可以无视它或者告诉他们这是不正确的。

Alright starting off I want to take a quick look at China insured vehicle numbers for the week of August 6th through the 13th. And for this week it sounds like the insured vehicle numbers came in right around 14,000. I've seen both 13,800 and 14,000 even. CNEV posts has 14,000, they usually do a pretty good job, so that's the number I'm going with here. And that's a really nice number. A couple of weeks in a row now with strong numbers, this would be the best week of the quarter so far. It moves quarter to date through the first six weeks, up to 58,300 vehicles insured, that compares with 57,200 through the first six weeks of Q2, which of course ended up being a record quarter, and it compares favorably with the slightly over 40,000, both in Q1 and Q4 through this point in the quarter. So the first couple of weeks started out slow, but Tesla now up 2% quarter to date over that record Q2 at this point. But after the next week or two, those comparables from Q2 will get more difficult, so to beat Q2, Tesla will need to average about 14,500 each week for the remaining seven weeks of the quarter, that would put them up towards 160,000 insured for the quarter, which is about what it'll take to be Q2. Definitely possible, however, if there is downtime for Project Highland or for any other reason, that would likely strain those numbers, and for that reason wouldn't be my expectation. There continues to be more rumors on Highland, but nothing that I've found that is really more concrete than anything that we've already discussed, so we'll continue to keep an eye on that, continue to keep an eye on these insured vehicle numbers, but we'll move on for now.

好，首先我想简要查看一下8月6日至13日的中国保险车辆数量。本周的保险车辆数量似乎在14,000左右。我看到过13,800和14,000的数字。CNEV发布了14,000，他们通常做得相当好，所以我选择了这个数字。这是一个非常好的数字。连续几周都有强劲的数字，这将是本季度迄今为止最好的一周。经过前六周的季度至今，已经有58,300辆车获得保险，而去年第二季度的前六个星期有57,200辆，创下了纪录。与今年第一季度和第四季度的略高于40,000相比较，也是优势。开始的前几周进展缓慢，但到目前为止，特斯拉已经比去年第二季度增长了2%。但在接下来的一两周，与去年第二季度的比较将会更加困难，所以为了超过去年第二季度，特斯拉需要在本季度剩余的七个星期中每周平均保险14,500辆，这将使他们达到约160,000辆的季度保险量，这是达到去年第二季度所需的。当然有可能实现，但如果由于高地计划或其他原因导致停工，这可能会对数字造成压力，因此这不会是我的预期。关于高地计划仍有更多传言，但我没有发现任何比我们已经讨论过的更具体的消息，因此我们将继续密切关注这一点，也会继续关注这些保险车辆数量，但现在我们继续其他话题。

Alright, next we've got a handful of updates on charging. We'll start with National Electric Vehicle Infrastructure Funding, or NEVI, NEVI, not sure how people are saying it. Either way, any V.I. funding, this was a $5 billion part of the infrastructure law signed in late 2021.

好的，接下来我们有一些关于充电的更新。我们先从国家电动车基础设施资金（National Electric Vehicle Infrastructure Funding，简称NEVI）开始。不确定人们是怎么说这个缩写，不过无论如何，这是2021年底签署的一项基础设施法案中的一部分，金额为50亿美元。

So the funding is federal, but the proposals and the distribution is then handled by states, and we've got a couple of states that have published updates to this so far this month, Pennsylvania and Maine. If you know of any others, let me know. I think we had previously talked about how Tesla had not applied for any funding in Oregon, so I didn't anticipate this to be a huge thing for Tesla, but with these couple states, it looks like Tesla is participating in seeking this funding.

所以资金来自联邦政府，但具体的提案和分配工作由各州处理，目前为止宾夕法尼亚和缅因已经发布了关于此事的更新。如果你知道其他州的情况，请告诉我。我们之前曾经讨论过特斯拉在俄勒冈州没有申请资金，所以我原本没指望特斯拉会对此事大动干戈，但是看起来特斯拉正积极参与争取这些资金。

So let's start off with Pennsylvania, which has announced the first round of conditional awards based on the proposals they received from various different companies for charging station implementation. For this first round, they have approved 54 projects for a total funding amount of about $34 million. And again, this is just round one, so this is about 20% of what they expect to spend over the next five years. We should see similar updates for them each year, which I assume will be the case for other states as well.

让我们从宾夕法尼亚州开始，该州宣布了根据各个公司提交的充电站建设提案获得的首轮有条件拨款。在第一轮中，他们批准了54个项目，总资金约为3400万美元。此外，这只是第一轮，占他们未来五年预计支出的约20%。我们应该每年都会看到类似的更新，我想其他州也会如此。

So these 54 projects, they'll be all over the state of these 54 projects. 12 of them were awarded to Tesla, so about 22% of the total projects, Pennsylvania had stipulated that not more than 25% could go to one company. So it sounds like Tesla could have technically gotten some funding for one additional project, but pretty close to the max. But interestingly, while Tesla is about 22% of the total stations, they're only making up 8% of this allocated funding.

因此，这54个项目将分布在整个项目所在的州。其中12个项目被授予了特斯拉，占到了总项目的22％。宾夕法尼亚规定，同一家公司的项目不能超过25％。所以听起来特斯拉实际上可以为另一个项目获得一些资金，但接近了上限。但有趣的是，虽然特斯拉占了总站点的22％，但他们只占分配资金的8％。

So Tesla is getting $2.7 million of the roughly $34 million in funding. That's $227,000 per station on average. While the other 42 projects, excluding Tesla are receiving an average of $740,000 per project. So at first glance, it kind of sounds like Tesla's getting a little bit of a raw deal, but these are proposals that are submitted by these companies, which more so speaks to the cost advantage that Tesla likely has for projects of this nature, as opposed to Tesla getting some unfair funding allocation. So if cost expectations are roughly aligned with fund allocation, that would suggest that Tesla's costs are about 30% of what the average costs of these other projects are. Obviously there are other things that could influence that Tesla could just for whatever reason request less funding, but I think it's probably at least directionally insightful.

特斯拉将获得大约3400万美元中的270万美元资金。平均每个充电站是22.7万美元。其他42个项目（不包括特斯拉）平均每个项目获得74万美元。乍一看，感觉特斯拉的交易有点不公平，但这些都是这些公司提交的建议书，这更多地说明了特斯拉在这类项目上可能具有的成本优势，而不是特斯拉获得了不公平的资金分配。所以如果成本预期与资金分配大致一致，那就意味着特斯拉的成本约为其他项目平均成本的30%。显然还有其他因素可能影响，比如特斯拉可能因某种原因要求更少的资金，但我认为这至少在某种程度上是有启发性的。

Under any V.I. funding, companies have to match at least 20% of those project funds. So there is at least a little bit of an incentive to keep those funding requests lower, otherwise you get to match a little bit more. So that's the update for Pennsylvania, and then earlier this month, Maine announced similar awards for about $6 million for seven charging projects, two of which are going to Tesla. So a similar percent of the total, and although I don't in this case have the full project by project funding breakdown, it looks like the per project costs probably work out pretty similarly as to what we just talked about for Pennsylvania. Tesla probably in that quarter million range with others probably somewhere around three times higher. So we'll continue to keep an eye on this for other states. I know it's only $3 million ish that we're talking about here, but this is also just the first phase of this funding plan, which could go for five years. And in this case, just two states that we're talking about.

根据任何V.I.（Venture Investment）资助项目，公司必须至少配对其项目资金的20%。因此，保持较低的资金申请至少有一点动力，否则公司需要配对更多的资金。这是宾夕法尼亚州的最新情况，而本月早些时候，缅因州宣布为七个充电项目提供类似的资助，总额约为600万美元，其中两个项目将由特斯拉负责。所以，在整体资金的相似百分比下，尽管我这次没有完整的项目拨款明细，但每个项目的成本可能与我们刚刚在宾夕法尼亚州讨论的差不多。特斯拉可能在25万美元的范围内，而其他项目可能会高出三倍左右。我们将继续关注其他州的情况。我知道我们在这里只谈论约300万美元，但这只是这一资金计划的第一阶段，可能会持续五年。目前，我们只谈论两个州。

Alright, next we've got another abbreviation update this time, NACS as opposed to any V.I. So North American charging standard Fisker has now announced that they will be adopting NACS natively to their vehicles, beginning in 2025 aligned with what we have heard from other manufacturers. Slight difference though, while others have said that they will begin allowing an adapter for the supercharging network that already exists in 2024, Fisker is saying that that adapter will be available to Fisker customers in the first quarter of 2025. So without getting into a whole conversation on Fisker here, obviously a smaller automaker, but now another one joining NACS.

好的，接下来我们有另一个缩写更新，这次是NACS，而不是任何V.I.。所以北美充电标准Fisker现在宣布他们将在2025年开始将NACS原生地应用到他们的车辆上，这与我们从其他制造商那里听到的一致。不过稍有不同，其他制造商表示他们将在2024年开始允许适配超级充电网络，而Fisker则表示该适配器将在2025年第一季度面向Fisker客户提供。所以不展开对Fisker的全面讨论，显然它是一家较小的汽车制造商，但现在有另外一家加入了NACS。

While we're on the topic, Rivian CEO RJ Scarin did comment on the relationship a little bit more on the earnings call for Rivian last week. Specifically on payment processing or customer information, he said that quote, there's not any data transfer built into the relationship. It's a charging relationship whereby our customers will access the network and ultimately pay for the charging, and that will flow from us through to Tesla and quote.

在这个话题上，Rivian首席执行官RJ Scarin在上周的Rivian的盈利电话会议上对这种关系进行了更详细的评论。具体而言，对于支付处理或客户信息，他说：“在这种关系中没有任何数据传输。”这是一种充电关系，通过这种关系我们的客户将使用充电网络并最终支付充电费用，这些费用将从我们流向特斯拉。

So we knew very early on from Ford that Tesla supercharging would be integrated into Ford's apps. But these comments give us a little bit more insight into precisely how that sort of flow is going to work.

所以我们从福特那里很早就知道特斯拉的超级充电将集成到福特的应用程序中。但这些评论为我们提供了更多关于这种流程如何运作的见解。

Lastly on charging Tesla has added a new product to the Tesla shop today. This is the universal wall connector. It's basically a Tesla wall connector with a J1772 adapter built in, and similar to the magic dock setup, you can either pull out the NACS charger on its own, or pull out the connector with the adapter attached as well. So if you've got multiple EVs or just want to be able to support multiple EV connector types, might be a bit more convenient, especially for something like a small business. This is $595 compared to the wall connector at 475.

最后，特斯拉今天在特斯拉商店新增了一个新产品：通用壁式充电器。它基本上是一个带有J1772适配器的特斯拉壁式充电器，类似于魔术对接设置，您可以单独拔出NACS充电器，或者同时拔出带有适配器的连接器。所以，如果您有多辆电动车或者只是想支持多种电动车连接器类型，这可能会更方便，尤其对于像小型企业这样的场所。这款产品的价格是595美元，而壁式充电器的价格是475美元。

All right, moving off of charging, we do have a few reports out of China that kind of match up with some rumors that we have been hearing recently relating to Tesla's FSD efforts in China. So from CNEV post, they say that Tesla is quote, planning to form a local operations team of around 20 people initially to bring FSD into the Chinese market. Local media outlet 36KR said in a report today and quote. That report also noted that Tesla has already sent engineers from its headquarters to conduct training. So we'll see on this. There do seem to be a lot of rumors around these efforts coming from different places, which does make it seem like this is something that Tesla is trying to prioritize.

好的，离开充电那边说，我们有一些关于特斯拉在中国的FSD努力的报告与我们最近听到的一些谣言相吻合。据中国新能源汽车之家发布的消息，他们称特斯拉计划在中国市场，最初组建一个大约20人的本地运营团队来推进FSD。36氪今天的一份报告中也指出并引用道：特斯拉已经派遣总部工程师前往中国进行培训。我们将拭目以待。目前确实有很多关于这些努力的谣言来自不同的地方，这使得特斯拉似乎优先考虑了这一点。

Perhaps somewhat relatedly, there were also some reports yesterday that although they were relating to some access restrictions for vehicles that have Sentry Mode, those reports did lead to a comment from Tesla in which Tesla stated that they've got data centers set up in China. So all data does stay localized within the country, which although I don't think it's really new or surprising would obviously be important for FSD to progress.

或许稍微相关的是，昨天也有一些报告称尽管与一些拥有哨兵模式的车辆访问限制有关，但这些报告确实导致了特斯拉的一则评论，特斯拉在评论中表示他们在中国设有数据中心。因此，所有数据都保留在本国内，尽管我认为这并不是什么新鲜事，也不令人惊讶，但对于全自动驾驶的进展显然非常重要。

Sticking with data centers, Electric has also noticed that Tesla has listed a job for a senior engineering program manager for data centers in Austin, Texas, which Tesla describes as saying this role will lead the end-to-end design and engineering of Tesla's first-of-its-kind data centers and will be a key member of the factory engineering team. So it looks like Tesla has pretty major plans to continue vertical integration in this area. I guess these would be primarily utilized for FSD related items, but probably other things that Tesla will use them for as well.

在数据中心领域，Electric还注意到特斯拉在德克萨斯州奥斯汀市列出了一份高级工程程序经理的职位，特斯拉称这个角色将领导特斯拉首个独一无二的数据中心的端到端设计和工程，并成为工厂工程团队的关键成员。因此，看起来特斯拉在这一领域有着相当重大的计划，我猜这些数据中心主要用于全自动驾驶相关项目，但特斯拉可能还会用它们来做其他事情。

Alright, that is it for today then. As always, thank you for listening, make sure you're subscribed and signed up for notifications, and also find me on X at Tesla Podcast. And we'll see you tomorrow for the Wednesday, August 16th episode of Tesla Theory. Thank you.

好的，今天就到这里了。一如既往，感谢你的聆听，请确保你已经订阅并开启了通知，而且你也可以在特斯拉播客平台找到我。我们明天再见，迎接8月16日星期三的特斯拉理论节目。谢谢。