Tesla Reportedly Plans “Early Glimpse” of New Model 3, Huge New Energy Project, Musk Interview

Hey everybody Rob now we're here and today we are continuing to talk about Elon Musk's visit to China. We also have some new rumors on Tesla's project Highland for the Model 3, an update on energy storage, hardware 4, and depending on when it's published we may have some items to discuss from a new Elon Musk interview with Babylon V that is supposed to come out today. We'll see if that makes it in time for this episode.

大家好，罗布在这里，今天我们将继续讨论埃隆·马斯克访问中国的话题。我们还有一些有关特斯拉“海兰”项目的新传闻，这是为了Model 3，有能源存储的最新进展，硬件4的更新，而且根据发布时间，我们可能会有一些新的话题来自于马斯克与Babylon V的采访，这个采访今天应该会发布。如果能在这一期节目中及时展示，我们将会看到。

Alright, looking at the stock pretty volatile day for Tesla today but finishing up 1.4% after jumping significantly in the last 10 minutes of trading, not exactly sure what is going on there. It's a very different movement than we saw from the broader NASDAQ but some other EV stocks jumped similarly so I guess we'll have to wait and see maybe there's some news out there that some people know about some others don't but we'll obviously keep an eye out to see if there is anything that does eventually trace back to the jump that we saw at the end of the day. Anyway Tesla finishing up 1.4% while the NASDAQ was down at 6% and closed at $203.93 on the day.

今天，特斯拉的股票非常波动，但最终在交易的最后10分钟内大幅上涨1.4%，我们不确定其中究竟发生了什么。这是与整个纳斯达克看到的运动非常不同的。一些其他的电动汽车制造商的股票也同样上涨，所以我们可能需要等待一下，看看是否有一些消息有些人知道而另一些人不知道，但我们显然会密切关注是否有任何与我们在交易日末看到的上涨有关的消息。总之，特斯拉在纳斯达克下跌了6%达到了203.93美元的情况下，以1.4%的涨势结束了这一天的交易。

Getting into the news the predominant topic today continues to be Elon Musk's visit to China no surprise on that. Elon has continued to meet with government officials in addition to the minister of foreign affairs that we had talked about yesterday. Sounds like Elon is also met with the minister of commerce and industry. You can see photos here with the minister of commerce and also with the president of the China Council for the promotion of international trade. As expected Elon has then moved on to Giga Shanghai, Tomzu and Grace Tao also attending Grace Tao, posting a couple of photos with the teams at Giga Shanghai on Weibo. So really fun to see that and the timing as we had talked about yesterday does line up with previous rumors that we had heard about the possible start of production or prototyping production for Project Highland for the Model 3 in Shanghai.

目前，新闻中的主要话题仍然是埃隆·马斯克访问中国，挑战毫无悬念。除了我们昨天谈论过的外交部长，埃隆还在继续与政府官员会面。听起来，埃隆还会见了商务和工业部的部长。您可以在这里看到与商务部长和中国国际贸易促进委员会主席会面的照片。正如我们昨天所说的那样，埃隆已经前往Giga上海，Tomzu和Grace Tao也参加了，Grace Tao在微博上发布了与Giga上海团队的几张照片。真的很有趣，而且时间和我们之前听到的有关在上海开始生产项目Highland的谣言是一致的，这将用于Model 3的原型生产。

Those rumors grew even louder today with a report from Bloomberg this afternoon saying that quote, Tesla ink plans to give an early glimpse of its revamped Model 3 sedan as part of chief executive officer Elon Musk's first visit to the carmaker Shanghai factory in years according to people familiar with the matter. The first cars coming off the line Thursday are prototypes the people said asking not to be identified because the company's plans are private. End quote. Alright so pretty interesting report from Bloomberg there my reaction after first reading that was that they probably meant that Elon Musk was going to be shown the Project Highland line and some prototype vehicles that are first off the line as a part of his visit that would seem to make a lot of sense but it seems like what they are actually reporting is that Tesla itself as a company is pointing to give people outsiders a first glimpse at the Highland Model 3.

今天，有关特斯拉的流言传言愈演愈烈，彭博社下午发表的一份报告称：“据知情人士透露，特斯拉公司计划在首席执行官埃隆·马斯克多年来首次访问公司上海工厂期间，展示重磅改款Model 3轿车的早期造型。”据不愿透露姓名的知情人士透露，周四投放市场的第一批车辆是原型车，因为公司计划是保密的。这是一份相当有趣的报告。初次阅读后，我认为他们可能意味着埃隆·马斯克将会展示高地项目线以及一些首批离线的样车作为他的访问的一部分，这似乎是很有道理的。然而，他们实际上报道的是，特斯拉公司本身打算给外界人士展示“高地”Model 3的首个版本。

This really doesn't make as much sense to me if the first prototype versions from Shanghai are actually being produced this week or tomorrow Thursday though obviously we have seen Highland prototypes running around at Fremont this will be referring to more of a production prototype but regardless it's still going to take time for Tesla to get this ramped back up and if they're just now shutting down the Model 3 production line that could still be many weeks or months from happening. Depending on what exactly the updates for the Highland Model 3 are that could inhibit Tesla's ability to sell Model 3's in that interim period of time so it would seem more beneficial to wait on any sort of official announcement or official teaser on this vehicle until it is as close as possible to actually shipping and that seems to be Tesla standard operating procedure in general anyway.

如果上海的第一款原型版本确实将在本周或明天星期四开始生产，这真的对我来说没有太多意义，尽管我们已经看到了Fremont的高地原型机在跑。这将指的是更多的生产原型，但无论如何，特斯拉要恢复这个生产量还需要时间，如果他们现在才停止Model 3的生产线，那么这可能仍然需要几个星期或几个月的时间才能完成。根据高地Model 3的更新程度，这可能会影响特斯拉在这期间销售Model 3的能力，因此似乎更有益的是等待任何正式公告或官方预告，直到它尽可能接近实际发货，而这似乎是特斯拉一般的标准操作程序。

Probably the best example of a similar situation we have from Tesla in their history would be the S and the X refresh production basically stopped on those vehicles in December of 2020 and the actual refresh vehicle wasn't announced until late January 2021 so over a month after production was actually stopped which allowed Tesla time to to an extent clear out some of the older version inventory. Now obviously by that point in time the refresh was pretty widely expected not too dissimilar from where we're at right now in the Highland timeline but by the time that it was actually announced there was still supposed to be at least another month or so until the very first deliveries.

特斯拉历史上最好的类似情况的例子可能是S和X车型，这些车辆的刷新生产基本上在2020年12月停止，而实际的刷新车型直到2021年1月底才宣布，生产实际上停止了一个多月，这使得特斯拉有时间在一定程度上清理一些旧版本库存。现在显然在高地时间轴上，人们已经预计了这一刷新，与我们现在的情况不太不同，但在宣布实际刷新时，仍应该再过至少一个月左右的时间才能进行首次交付。

Now obviously that ended up getting delayed deliveries were a little bit later than Tesla expected but when using it as an analogy for what Tesla might do around Highland it's more helpful to look at what their actual intent at the time was. So if you overlaid a similar timeline onto Highland you might be looking at stopping production in June, an announcement in July maybe mid July and then maybe first deliveries in August or September so I'm sure Tesla would try to compress that timeline as much as possible Shanghai if anywhere would be most capable of that but that's not Tesla's only production hub obviously for the Model 3.

很明显，这导致了交付晚于特斯拉的预期，但当将其用作特斯拉在海兰德可能会采取的行动的类比时，更有帮助的是查看当时他们的实际意图。因此，如果在海兰德上覆盖类似的时间线，您可能会在六月停止生产，在七月（可能是中旬）发布公告，然后在八月或九月进行首批交付，我相信特斯拉会尽可能缩短该时间线，如果到达的话，上海可能是最有能力实现的地方，但这并不是特斯拉的唯一生产中心，特斯拉Model 3在其他地方也有生产。

So they also have to weigh how to balance this internationally and in general this is a much higher volume product than the S&X so although we expect the update to add simplicity the volume does add to the challenges of a refresh. So anyway obviously we'll know soon if this report does end up being accurate or not but I do think it's helpful just to kind of consider that timeline and what Tesla has kind of managed around a refresh before.

因此，他们还必须权衡如何在国际上平衡，总的来说，这是一个比S&X更高的产品体量，因此尽管我们预计更新会增加简便性，但体量也增加了刷新的挑战。所以，显然我们很快就会知道这个报告是否准确，但我认为考虑一下特斯拉在刷新前如何管理时间线很有帮助。

Alright moving on from Highland and from China we've got an update on Tesla Energy today electric doing some digging and receiving confirmation that a newly signed Energy Storage project in Arizona will be supplied by Tesla. The agreement has been made between Stratoclean Energy and the Arizona Public Service Utility for a 1 Gwatt Hour Energy Storage project with up to 255 MW of power capacity. So it's a huge project one of the biggest energy storage projects in the world that being said as Tesla continues to grow their Energy Storage deployments actually starts to become relatively small to Tesla's total. That's okay though because that just means we continue to see more and more of these large scale projects apparently this project has an investment value of $500 million according to a spokesperson for the agreement. Apparently this project was initially scheduled to come online in 2024. There was no updated timeline for that with this announcement but a filing for the project apparently shows that a related substation is set to come online at the end of 2023. So 2024 probably still about right.

好的，离开Highland和中国后，我们今天有一则关于特斯拉能源的更新，电动汽车正在进行一些调查，并收到确认，新签订的亚利桑那能源储存项目将由特斯拉提供。该协议是由Stratoclean Energy和亚利桑那公共服务公用事业公司签订的，涉及1吉瓦时的能源储存项目，最高功率容量达到255兆瓦。所以这是一个巨大的项目，是世界上最大的能源储存项目之一。就这样，随着特斯拉不断增长其能源储存部署，实际上开始相对于特斯拉的总体规模较小。不过这没关系，因为这意味着我们会继续看到更多这样的大规模项目。根据该协议的一位发言人表示，该项目的投资价值为5亿美元。据说，该项目最初计划于2024年上线。此次公告中没有更新这一时间表，但该项目的一份文件显示，相关的变电站将于2023年底上线。因此，2024年大概仍然是个正确的时间。

Alright next up just a little bit more insight into Tesla's FSD hardware 4. SWEV on Twitter has answered some questions on whether or not hardware 4 does actually include a radar at this point in time and from what he is found on his hardware 4 vehicle it looks like it in fact does. This was expected as a part of hardware 4 but it's been a little bit unclear on how progressed the actual installation of hardware 4 parts are on hardware 4 vehicles. Sometimes like Tesla may have some intent to do some other retro fitting later on but at least right now it does look like that radar is at least there from a hardware capacity although perhaps not doing anything yet from a software perspective maybe some shadowing or something like that.

接下来我们将更深入地了解特斯拉FSD硬件4。Twitter 上的SWEV回答了一些关于硬件4是否包含雷达的问题，据他在其硬件4车辆上所发现的情况，似乎确实包含。这是硬件4的一部分，但安装在硬件4车辆上的硬件4零件的进展情况有些不清楚。有时候像特斯拉可能会有意愿稍后进行其他的翻新。但至少从硬件的角度来看，目前看起来雷达至少是存在的，虽然从软件方面来看可能还没有实际发挥作用，可能会进行一些阴影处理或其他类似的操作。

Alright next up the Babylon B interview did end up being published as I'm recording here so just listen to that really quickly to XB on Twitter that's nice now but most of the interview was on Twitter or rather about Twitter but there were some Tesla related items first off he did say that when he was going through the acquisition process of Twitter the early days after the acquisition he talked about how it was really just chaos and mentioned something that now seems very intuitive but I don't remember him mentioning specifically before about the acquisition was that basically everybody at Twitter was working remotely. So that contributed to the chaos probably helps explain some of his recent comments on remote work but anyway as it related to Tesla they talked about the financial position at that point in time Elon mentioned that basically they had 4 months of runway so the Babylon B guys asked what the options were at the end of that runway if Elon would just continue to fund it and he said quote yeah I mean there's a limit to how much Tesla stock I can sell and I can't sell it all the time I mean the reason I sold stock in December last year which I regret at this point was because I wasn't sure how much money Twitter would need.

好的，接下来是Babylon B采访。据我录制时所知，采访已经发布，你可以快速听一下XB在Twitter上的采访。大部分采访内容在Twitter上，或者说与Twitter有关，但也提到了一些与特斯拉有关的事项。首先，他说在Twitter收购过程中早期阶段的混乱，现在显得非常直观，但我不记得他之前有具体提到过。他提到的是：在收购后，Twitter的所有人基本上都在远程工作，这导致了混乱。这可能有助于解释他最近有关远程工作的一些评论。与特斯拉有关的是，他们谈论了当时的财务状况。埃隆提到，他们基本上只有4个月的存活期。Babylon B的人问埃隆，如果他继续资助特斯拉，在存活期结束后的选择是什么，他回答说：是的，我的特斯拉股份出售有一定的限制，我不能一直出售。我去年12月出售股票的原因是我不确定Twitter需要多少钱，但现在我后悔了。

So he's not saying there that he regrets acquiring Twitter he said that he still thinks it was the right move but regretting the last tranche at least of Tesla stock sales which seems like that was probably a cushion which Elon no longer feels would be needed since he again said that Twitter is on a good track right now close to financial stability not quite break even but close to it so interesting to hear Elon mentioned that regret although he didn't elaborate much on it hopefully that builds well for the next time around when Elon may be considering selling some more Tesla stock.

他并没有说他后悔收购Twitter，他表示他仍然认为这是正确的决定，但是他后悔最后一批特斯拉股票销售，这似乎是一个橡皮垫，埃隆不再觉得需要它，因为他再次表示Twitter正在走向良好的轨迹，接近财务稳定，尽管还没有达到盈亏平衡，所以很有趣听到埃隆提到了那个后悔，尽管他没有详细说明，希望在下一次埃隆考虑卖出更多特斯拉股票时，这个后悔能带来好的启示。

The rest of the interview mostly stuff we've heard before or outside of the scope but Elon did mention that for Twitter he does think that they need to broaden the branding now to X rather than Twitter since the scope of things that Twitter is doing is growing quickly. If you do want to watch the full interview that is available on the Babylon B's Twitter account.

这次采访的其余部分大多内容我们之前已听过或超出了范围，但埃隆提到了他认为 Twitter 需要扩展品牌范围，现在应该是 “X” 而不是 Twitter，因为 Twitter 正在迅速扩大其业务范围。如果你想观看完整的采访，请前往巴比伦B的 Twitter 帐户。

Last item for today then Bloomberg is reporting that lucid is according to people familiar with the matter raising about three billion dollars with the majority of that coming from the Saudi PIF. Obviously they're the predominant investor in lucid right now so that stake would be growing and while this would provide cash for lucid as they continue to burn a lot of cash it would dilute shares pretty significantly as their market cap right now sits around 14 billion which I guess somehow still sitting around that level is kind of how I would phrase that and I think a lot of that is really just coming from the backing from the PIF.

今天最后一个消息是，彭博社报道称，根据知情人士的消息，Lucid公司正在筹集约30亿美元的资金，其中大部分来自沙特皇家投资基金。显然，他们是Lucid目前的主要投资者，因此他们持有的股份将会增加,尽管这将为Lucid提供现金，使他们能够继续烧掉大量的现金，但会很大程度上稀释股份，因为他们目前的市值约为140亿美元，这还是很高的水平，我认为这主要是来自PIF的背书。

So lucid stock down more than 5% after hours on this report. Alright that is a way we'll leave it for today so as always thank you for listening make sure you subscribe and sign up for notifications also find me on Twitter at Tessile Podcast and we'll see you tomorrow for the Thursday June 1st episode of Tessile Daily. Hi there.

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