Tesla Tops Auto Rating Despite Arbitrary Faults, Model Y Dominating Norway, Pricing Discussion

Hey everybody, Rob Marrow here and today we are going to be talking about a new research report from the ICCT on the automotive industry and each brand's transition to sustainable energy. We've got new updates on Tesla and China and India, updates on inventory and pricing and a few other items as well.

大家好，我是罗布·马罗，今天我们将讨论ICCT的一份新的研究报告，该报告涉及汽车行业和各个品牌向可持续能源转型的情况。我们将有关于特斯拉、中国和印度的新消息，有关库存和定价的更新，以及其他一些项目。

Another pretty nice day for Tesla Stock today finishing up 1 and 3.25% to close at $207.52 while the NASDAQ was up 1 and a quarter percent. Of course, late yesterday the house did pass unsurprisingly a bill on the ever-looming debt ceiling that now goes over to the senate. That needs to be passed by Monday, which I'm sure it will be but always creates a little bit of a circus as things move in that direction, so maybe a little bit of relief in the market today from that passing in the house.

今天对特斯拉股票来说是个相当不错的一天，涨了1.3.25％，收盘价为207.52美元，而纳斯达克指数上涨了1.25％。当然，昨天晚些时候，众议院毫不意外地通过了一项关于不断逼近的债务上限的法案，现在转交给参议院。这需要在周一之前通过，我相信会通过，但随着事情朝着这个方向移动，总是会引起一些小小的喧闹，所以今天市场上可能会因为众议院通过这项法案而稍感宽慰。

We do have a new SEC filing from Tesla today, this is their conflict minerals report. A lot of what Tesla is doing here is covered in the impact report which we have already talked about, but if you do want to review that, that is now available.

我们今天收到了特斯拉的最新SEC文件，这里面包括了他们的冲突矿物报告。特斯拉在这份报告中所做的很多事情已经在我们之前谈到的影响报告中涉及到了，但如果您想复审一下，那么现在可以了解一下。

Alright, we'll start off with China as we have talked about the last couple of days Elon has been visiting that visit is now wrapped up I believe Elon has returned to the US. So like we had talked about yesterday, being a bit of a long shot despite the reporting, looks like no unveiling or teaser or anything early glimpse or whatever the report was. Poor project highland. Most likely something lost in translation or poor reporting or poor phrasing from Bloomberg on that. I would bet that that was shown off to Elon obviously knows the design but just seeing that production run. And like we discussed not too many advantages for showing that off already, but hopefully over the next month or two we get a lot more clarity on where that is at.

好的，我们先从中国开始，因为我们在过去几天里谈论了埃隆访问中国的事情，现在他的访问已经结束，我相信他已经回到了美国。所以，像我们昨天讨论的那样，虽然有报道，但有点难以置信，看起来没有揭幕式、预告或者任何早期的一瞥，或者无论那篇报道是什么。高地计划很可怜。最有可能是翻译问题或者报道不当，或者是彭博社用词不当。我打赌，那一定是向埃隆展示了设计，但只是看到了生产线上的运行。正如我们讨论过的，对于这个项目，现在展示出来的优势并不是太多，但是希望在未来的一个月或者两个月里，我们能够更清楚地知道它的进展情况。

At any rate during the trip Elon did continue to meet with government officials in Shanghai of note he met with the party secretary of Shanghai who reportedly discussed with Elon potential opportunities for Tesla to expand in Shanghai and expressed hope that Tesla would continue to deepen its cooperation with the city as it moves towards becoming a green sustainable and modern metropolis. So overall it seemed like a very productive visit obviously a lot that was crammed into the two or three days that Elon was there. He definitely seemed to be in good spirits when meeting with the Giga Shanghai team and reiterated that not only is Giga Shanghai producing Tesla's most efficiently produced vehicles but also their highest quality which I'm sure Tesla is hoping to surpass with Berlin and Texas.

在旅行期间，埃隆继续会见了上海的政府官员。其中，他与上海市委书记会面，据报道，双方讨论了特斯拉在上海扩展业务的潜力，并表达了希望特斯拉在上海继续加强合作，助力该市向绿色、可持续、现代化城市发展。总的来说，此次访问非常富有成果，尽管在埃隆到访的两三天内，时间紧迫，但是他似乎非常愉快地与上海吉卡的团队进行了会面，并重申称，吉卡上海不仅生产特斯拉最高效的汽车，而且质量最高，这是特斯拉期望柏林和德克萨斯工厂超越的目标。

Alright so moving on from China for the time being we've got a new report from the ICCT or the International Council on Clean Transportation we've talked about some of their research before. They have now published their global automaker ratings for 2022 taking a look at how automakers are making the transition to sustainable energy. Although it's not a perfect rating it does draw a nice contrast with some of the ESG ratings that we tend to see on companies like Tesla where they can fall below companies like Exxon or Chevron something crazy like that. This seems to be much more aligned with I guess common sense I would say or kind of how we would intuitively understand things to be in the auto market at least.

好的，暂时离开中国，我们有了一份新的报告来自ICCT或国际清洁交通委员会。我们之前讨论过他们的一些研究。现在他们发布了2022全球汽车制造商评级，看看汽车制造商如何转向可持续能源。虽然这不是完美的评级，但与我们经常看到的像特斯拉这样的公司的ESG评级形成了鲜明对比，他们的评级可以低于像Exxon或Chevron这样的公司，这听起来很疯狂。这似乎更符合我想说的常识或我们对汽车市场的直觉理解。

So unsurprisingly Tesla holds the top overall score on their 2022 global automaker rating. The rating is comprised of three major categories, market dominance, technology performance and strategic vision you can see Tesla's ratings there of 69, 80 and 100 respectively yielding a total 2022 rating of 83 putting Tesla at the top of the list with BYD and second place with a rating of 73 BYD falling a little bit behind on technology performance relative to Tesla.

毫不意外的是，特斯拉在2022年全球汽车制造商评级中获得了最高的总分。该评级由三个主要类别组成：市场占有率、技术表现和战略愿景。您可以看到特斯拉在这三个类别中的评分分别为69、80和100，总评分为83，在排名榜上名列前茅。BYD以73的评分获得第二名，相对于特斯拉，BYD的技术表现稍逊一些。

Now each of those major categories has subcategories and we'll take a look at those in a second but interesting to see how other automakers rank on here BMW and third place actually. Ford below GM maybe a bit of a surprise on that one and then Toyota unsurprisingly in the Lagerts category looking like they're about sixth from the bottom. Anyway looking a little bit deeper at those subcategories this is where I think sort of the simplicity starts to creep into how this rating is tabulated. We can see that the market dominance category is a blend between the ratio of total sales that are zero emission vehicle sales for each automaker and they do count plug-in hybrids as not a full ZEV but maybe 50%.

现在每个主要类别都有子类别，我们稍后会看看这些子类别，但有趣的是看看其他汽车制造商在这个排名中的排名，宝马实际上排在第三名。福特排在通用汽车之下可能有些令人惊讶，而丰田则毫不意外地位于最低排名的第六位。不过，进一步观察这些子类别，我认为这就是这个评级计算的简洁性所体现的地方。我们可以看到市场主导力类别是每个汽车制造商的零排放车销售占总销售比率的融合，而他们认为插电式混合动力汽车并非完全的零排放车，可能只占其中的50%。

So Tesla obviously getting 100 there BYD for example getting 69% even though about half of their vehicles are plug-in hybrids.

特斯拉在此方面显然获得了100分，比如比亚迪得到了69％，尽管他们约有一半的车辆是插电式混合动力车。这表明特斯拉在电动汽车领域表现更出色，并且 BYD 需要加强其纯电动汽车的产量和销售。

The second part of the score is class coverage and Tesla only gets a 38 on that one so that's basically taking a look at model variety so of the electric vehicles sold from these automakers how many segments are they covering with the models that they are offering in those zero emission variants.

分数的第二部分是分类覆盖，特斯拉只得了38分，这基本上是看该汽车制造商的车型种类，因此这些汽车制造商出售的电动车型涵盖了多少不同领域，用他们所提供的零排放汽车版本。

So Tesla with a very slim lineup for very good reasons gets a low score on that and that really hurts their market dominance score and that's the single biggest contributor pulling Tesla score down to the 83 overall.

特斯拉因为种种原因只有非常简单的产品线，因此在该方面得分较低，这对其市场主导地位的得分造成了很大的打击，这是导致特斯拉总得分降至83分的最大原因。

So covering different segments might make more sense for a legacy automaker that's transitioning to EVs but for Tesla seems a little bit over-weighted in terms of the impact.

对于转型向电动汽车的传统汽车制造商来说，覆盖不同的市场细分可能更有意义，但对于特斯拉来说，这似乎在影响方面有点过于重要。

And then the other category bringing Tesla score down a bit was technology performance where if we look at the subcategories you can see a perfect 100 across the board except for a zero in renewable energy so it seems a little bit weird to us obviously doing solar, doing energy storage on top of 100% EV so how do they get a zero here?

另一个降低特斯拉得分的类别是技术性能，如果我们看子类别，可以看到所有的项目都是完美的百分之百，除了可再生能源为零，这对我们来说似乎有些奇怪，因为特斯拉不仅从事太阳能，能量存储，而且 EV 的占比也达到了100%，那为什么这里得分是零呢？

Well if we look they say that quote on the upstream emissions the renewable energy metric analyzes how much progress an automaker has made in switching to 100% renewable electricity in vehicle production and assembly and battery manufacturing and quote.

如果我们看一下，他们说数据中的上游排放量指标是指可再生能源指标分析了汽车制造商在转向100%可再生能源的电力在车辆生产和组装以及电池制造方面取得了多少进展。

This already feels a little bit arbitrary and when we read a little bit further that feeling increases they go on to say that a manufacturer receives one point if it uses 100% renewable electricity in all plants within a region and zero points otherwise so you could have six different regions and all your factories could use 95% renewable electricity and you'd get to zero on this category.

这已经有点武断了，如果我们继续阅读，这种感觉会变得更强。他们说，如果制造商在一个地区的所有工厂中使用100%可再生能源，就会获得一分，否则将获得零分。因此，即使您的六个不同地区的所有工厂都使用了95%的可再生能源，您在这个类别上也将得到零分。

They say quote we only give credit to manufacturers that exhibit a commitment to 100% renewable energy because manufacturers can achieve 100% renewable energy by purchasing renewable energy certificates in most regions and quote.

据说，“我们只向展现出100%可再生能源承诺的制造商提供信用”，因为在大多数地区，制造商可以通过购买可再生能源证书来实现100%的可再生能源。

So obviously Tesla sells zero emission vehicle credits those would be different from this but Tesla does actually purchase renewable energy offsets but from Tesla standpoint how they market the purchase of those credits is for offsetting supercharger network energy consumption rather than factories a company like BMW who was scoring 100 in this subcategory doesn't have to worry about anything coming close to the supercharger network so again this is very arbitrary and definitely unfair to score Tesla in this way if they wanted to Tesla could probably just change that language and say that all factories are 100% renewable energy without actually changing anything about their production or purchasing process and then all of a sudden they'd have 100 in this category.

显然，特斯拉出售零排放汽车买入信用积分，这与本文无关。不过特斯拉确实会购买可再生能源补偿措施，但从特斯拉的角度来看，他们把这些积分的购买用于抵消超级充电站的能量消耗，而不是工厂。像宝马这样得分100分的公司则不需要担心任何与超级充电站有关的问题，因此，这种打分方式非常武断，对特斯拉不公平。如果他们愿意，特斯拉可能只需改变措辞，声称所有工厂都使用100%可再生能源，而不必在实际生产或采购流程上做出任何更改，这样一来他们就可以在这个类别中得分100分。

This also doesn't seem to consider at all Tesla contribution for energy generation or energy storage which up until this year the energy generated by Tesla solar products actually exceeded the consumption from all Tesla products including vehicle production and charging.

这篇文章似乎完全没有考虑到特斯拉在能源生产或能量存储方面的贡献。直到今年，特斯拉太阳能产品所产生的能源实际上已经超过了所有特斯拉产品的消耗，包括车辆生产和充电。

So at the end of the day it's just a rating it doesn't matter all that much but hopefully that point is clear.

在一天的结束时，这只是一种评价，它并不那么重要，但希望这个观点很清楚。

Anyway there are a handful of other interesting charts in the report so we'll take a quick look at those the first being energy consumption of BEV's Tesla scoring at the top there so according to their research Tesla's vehicles are the most efficient I think this ranking might struggle a little bit with segmentation but interesting nonetheless similarly they looked at charging speed Tesla again at the top here by a pretty significant margin Tesla a little more than 25% ahead of second place Hyundai Kia I'm not sure of their exact methodology on this but they do say that it is sales weighted within each brand for the averages that they are showing here finally a nice chart showing the ratio of zero emission vehicles to internal combustion engine vehicles for each manufacturer with Tesla of course at the top at 100% but you can see the performance of companies like Toyota Honda at the bottom 1% and 0% I think a really nice visualization there.

报告中还有一些其他有趣的图表，我们将快速浏览一下。首先是纯电动汽车的能耗，特斯拉排名最高。因此根据他们的研究，特斯拉的汽车是最高效的。我认为这个排名可能在细分方面会有一些问题，但还是很有趣的。类似地，他们还研究了充电速度，在这方面特斯拉再次排名第一，超过了第二名现代起亚超过25%。我不确定他们的具体方法，但他们确实说这是在每个品牌内按销量进行加权平均计算的。最后一个有趣的图表显示了每个制造商的零排放车辆和内燃机车辆之比，其中特斯拉当然排在前列达到了100%，但你可以看到像丰田本田这样的公司只有1%和0%。我认为这个图表的可视化效果非常好。

Alright let's move on I want to take a quick look at inventory it's been a while since we have done that and we do have some price changes on inventory as well first looking at inventory from Matt Young for new Tesla vehicles in the US we can see that it's actually gone down a little bit overall at least in terms of what is being displayed which of course we know is not necessarily a perfect proxy for available inventory but it is what we've got.

好的，我们继续吧。我想快速看一下库存，因为我们有一些库存价格变化。先从美国马特•扬的特斯拉新车库存入手，我们可以看到整体库存实际上有稍微下降，至少从展示的内容来看是这样的。当然，我们知道这并不一定是可用库存的完美代理，但这就是我们所拥有的信息。

If we take a look at the breakdown by model you can see that the model 3 and red has continued to pretty consistently trend up in available inventory model Y in blue still quite low there towards the bottom anyway as model 3 inventory has continued to increase Tesla has started to increase the inventory discounts on model 3's we've talked about Tesla doing this kind of across the lineup and it gives Tesla a little bit more pricing flexibility without as much volatility or at least perceived volatility on pricing which makes a lot of sense as sales grow Tesla can be a little bit more localized with pricing in this way and again just a little bit more adaptable the one price model is great but almost impossible to balance consistently over the long term especially as you are growing quickly you're either going to be leaving dollars on the table and creating an order backlog or falling short in sales having to do a lot of promotion or very rapid and very visible price adjustments for the entire lineup which comes with its own set of challenges and attention positive and negative so I think it's a problem that Tesla is starting to recognize a little bit more of especially in this economic climate and that's why we're seeing more of this discounted inventory type of model we're seeing more of the referral program coming back and playing a larger role gives Tesla more levers to play with rather than just one unilateral pricing for the entire country so anyway for model 3 right now there are some discounts up to about three thousand dollars and although model Y has a lot less available inventory there discounts to be found there but much smaller at about five hundred dollars a piece so a lot of people taking this as you know clearing out model 3 inventory before a refresh and that may be an I'm sure Tesla has that on their mind but I also wouldn't be too surprised if this is just a lever that Tesla is pulling to continue to move through model 3s in general without having to technically lower the price which might take some of the lost your way from a highland announcement if that's announced at a lower price or something like that.

如果我们看一下各个车型的库存数量，可以看到Model 3和红色车型的库存数量一直在稳步上升，而蓝色的Model Y仍然很低，接近底部。随着Model 3库存持续增加，特斯拉开始增加Model 3的库存折扣。我们已经谈论过特斯拉在整个产品线上都有这样的做法，这为特斯拉提供了更多的定价灵活性，同时也减少了波动性或者至少是感知上的波动性，这很有道理。随着销售的增长，通过这种方式特斯拉可以在定价上更加本地化，因此也更加适应性。一个售价固定的模型是很好的，但长期来看几乎是不可能保持平衡的，特别是在快速增长的情况下，你要么会失去一些销售额并创造订单积压，要么就会销售不足而不得不为整个产品线做很多促销或者快速而明显的价格调整，这也会带来一系列问题和正面和负面的关注。因此，我认为特斯拉正在越来越认识到这个问题，特别是在这种经济环境下，这就是为什么我们看到更多的折扣库存类型的模式，以及推荐计划在发挥更大的作用。这给特斯拉提供了更多的调整空间，而不是整个国家只有一个单一的定价。目前，Model 3有一些折扣高达3000美元，虽然Model Y的可用库存要少得多，但那里也可以找到折扣，每辆车的折扣只有大约500美元。很多人认为这是在更换Model 3新款之前清空库存，这可能是一个原因，但我也不会太惊讶如果这只是特斯拉继续销售Model 3的一种方式，而不必实际降低价格，因为这将会削弱高价和宣传效果。

Alright next up we've got another report on Tesla and India this is coming from financialxpress.com not a site that I'm familiar with but they are reporting that India has asked Tesla to submit a roadmap on the time frame needed to basically localize the supply chain if Tesla were to actually build a vehicle plans in India apparently the expectation is for Tesla to respond with a plan in the next three to six months and it sounds like depending on how that plan looks India may be willing to allow some concessions on tariffs to help reduce supply chain roadblocks until things became more localized in India so it kind of makes sense and I hadn't seen that reported yet but we'll see what comes of it.

接下来，我们有关于特斯拉和印度的另一份报告，这来自于financialxpress.com，这是我不熟悉的网站，但他们报道说，印度已要求特斯拉提交一个时间表，以便在特斯拉真正在印度建立车辆计划的情况下本地化供应链。显然，期望特斯拉在未来三到六个月内回复一个计划，根据这个计划的表现，印度可能会愿意提供一些减轻供应链障碍的关税优惠，直到在印度更本地化为止。这是有道理的，我之前没有看到这个报道，但我们会看到事情的发展情况。

Alright next we've got a quick report on Tesla sales in May in Norway and I think you guys know I don't like looking at individual countries individual month sales but this one is interesting in May there were 2,691 Tesla model wise sold in Norway that is about three and a half times the runner up Volkswagen 94 and put the model Y alone at 20% market share for the month of May. Now again it is just one month but if we look at your to date turns out May was actually below the average because your to date the model Y has a 24% market share in Norway so crazy for one car to have that kind of market share the only thing more impressive is that somehow the Toyota BZ4X has 4% market share your to date that is pretty surprising to me.

接下来，我们有一份关于特斯拉在挪威五月份销售的快报。我觉得大家应该知道，我并不喜欢仅仅看某个国家某个月份的销售数据，但这个数据还是很有趣的。在五月份，挪威售出了2,691辆特斯拉Model Y，约为亚军大众的94辆车的三倍半，而Model Y的销量占当月市场份额的20%。当然，这只是一个月的数据。但是，如果我们再做一个截至目前为止的数据统计，到目前为止，Model Y在挪威的市场份额已经达到了24%，这真是一个令人震惊的数字。令人更惊喜的是，丰田的BZ4X车型在截至目前为止的市场份额甚至达到了4%，这对我来说真是惊喜不小。

Alright last couple of quick things there is a new satellite image of Gigatexus posted on Twitter from Geosat gives a really nice shot of the Tesla logo spelled out in the negative space of the solar panel array on the roof that Tesla has been working on for a while just a really nice shot of the factory in general too and gives a sense of completion though obviously Gigatexus is going to continue to grow for many years. Lastly then we've got an update on BYD's sales for the month this is coming from C&EV post we can see that their total new energy vehicle sales including plug-in hybrids set a new record of 240,000 in a month of May and probably more importantly for pure BEVs they sold almost 120,000 this was the first month of the year that they clipped their numbers from November and December on BEVs so despite the Tesla price cuts a pretty strong month here for BYD though obviously depending a little bit on how that mixes out from a margin perspective.

好的，还有两个快速的事情要说一下。Geosat在Twitter上发布了Gigatexus的新卫星图像，给出了一个非常好的镜头，拍摄了特斯拉的标志性徽标，用太阳能电池板的负空间拼成，这个工厂的整体景象也非常美丽，给人一种完成的感觉，尽管显然，Gigatexus还将继续增长多年。最后，我们要更新一下BYD的销售情况。这是来自C&EV发布的消息，我们可以看到他们在5月份的总新能源汽车销售量，包括插电式混合动力车，创下了240,000辆的新纪录。对于纯电动汽车来说，他们近乎卖出了120,000辆，这是今年首个超过11月和12月的数量。尽管特斯拉降价了，但对于BYD来说，这个月还是非常强劲的，当然要根据利润的角度考虑一下。

Alright that'll wrap it up for today then as always thank you for listening make sure subscribe and sign up for notifications and also find me on twitter at Tesla Podcast and we'll see you tomorrow for the Friday June 2nd episode of Tesla Daily. Thank you.

好的，今天的节目就到这里了，感谢一如既往地收听。请确保订阅并打开通知，还可以在Twitter上找到我，账号是Tesla Podcast。明天我们会再次见面，为您带来6月2日星期五的特斯拉每日快报。谢谢！