Tesla Drops on Demand Concerns, UAW Sets New Target, BYD Earnings
发布时间 2023-10-30 23:59:19 来源
Hey everybody Rob Maurer here, welcome back to Tesla Daily. Today we've got a lot of industry news to sort through probably impacting Tesla stock, the performance that we saw today. So we'll take a look at that. Then we do have a few other items as well. But we'll start there, Tesla down 4.8% today to start the week closing at $197.36. The NASDAQ up 1.1% today, almost 1.2%. So significant underperformance that deviation seemed to only increase throughout the day, a little bit of rebound towards the end of the day, but not the best day for Tesla today.
大家好，我是罗布·莫里尔，在这里欢迎大家回到《特斯拉日报》。今天我们有很多行业新闻要整理一下，可能会对特斯拉股票产生影响，我们将对此进行分析。然后我们还有其他一些消息要分享。但首先，我们从这里开始，特斯拉今天下跌了4.8%，以197.36美元收盘。纳斯达克今天上涨了1.1%，接近1.2%。因此，特斯拉的表现明显比市场平均水平差，这种差距似乎在全天内只增不减，尽管在收盘前有所反弹，但对特斯拉来说今天并不是最好的一天。
A lot of this I think being attributed to some headlines around Panasonic. They had their earnings report today and talked about demand for batteries relating to EVs and that is getting pulled in with Tesla of course. So here we can see the Reuters headline, Tesla falls as production cut by battery supplier Panasonic fans EV demand fears. And then if we do actually look at some of these things that Panasonic said on their earnings call, they specifically noted that for Tesla, or not for Tesla specifically, but they said that the IRA, the inflation reduction act has a price ceiling up to $80,000 and since the high end models exceed that level demand decreased. So again, not saying Tesla specifically there, but obviously Panasonic works very closely with Tesla and that feeding into some of the headlines here alongside comments from Panasonic.
很多人认为这是由于一些有关松下公司的头条新闻所引起的。他们今天发布了财报，谈到与电动车相关的电池需求，这当然与特斯拉有关。所以可以看到路透社的头条新闻，特斯拉因电池供应商松下的减产而下跌，引发了对电动车需求的担忧。如果我们确实看一下松下在财报电话会议上说的一些事情，他们明确指出，对于特斯拉，或者不是特斯拉特别说，但他们表示通胀减少法案的价格上限是80,000美元，而高端型号超过了这个水平，需求因此下降。所以并没有直接指明特斯拉，但显然松下与特斯拉密切合作，这些和松下的评论一起引发了一些头条新闻。
However, as usual, if we take a little bit closer of a look here, this isn't quite the scenario that seems to have been portrayed today because if we look at Panasonic's release, they also say that furthermore, the company decided to set the automotive battery business as the priority investment area and will proceed with management initiatives by taking into consideration the revision and replacement of our business portfolio towards shifting to a growth phase. So okay, that sounds a little bit different than demand concerns like we're seeing in the headline from Reuters and other media today, and if we look a little bit closer, they've also kind of reiterated that here when they talk about their downward revision to net sales.
然而，和通常一样，如果我们仔细观察一下，我们就会发现今天所描述的场景并非如此，因为如果我们看一下松下公司的声明，他们也表示，公司决定将汽车电池业务作为优先投资领域，并将通过考虑修订和更换我们的业务组合来推进管理措施，以实现向增长阶段转变。所以好吧，这听起来和路透社和其他媒体今天所报道的需求担忧有点不同，并且如果我们仔细观察一下，当他们谈到对净销售额的下调时，他们也在这里再次重申了这一点。
So overall, you know, reduction in guidance for Panasonic, but they say that the downward revision of sales is due mainly to the impact of counting treatment for the US IRA tax credit as well as the deteriorating market conditions in lifestyle and industry, despite the upward forecast for sales and automotive, with the gradual recovery of automobile production and then connect with favorable sales and avionics. So although we're getting these headlines about, you know, demand and some of the comments here about the price cap, the IRA and the impact of that, Panasonic in general is guiding for an increase in automotive, despite the upward forecast for sales and automotive here, as we can see from their release.
总体而言，你知道的，松下提出了业绩下调的预期，但他们表示销售下调主要是由于美国IRA税收抵免政策计算处理的影响以及生活和工业市场状况的恶化。尽管市场对需求和价格上限的担忧，以及IRA的影响在媒体上引起了一些关注，但松下整体上预测汽车业绩会有所增长，尽管目前销售预测存在较大不确定性，从他们的发布的信息中我们可以看到他们对汽车销售前景持乐观态度。
And in this part, also talking about that being a priority investment area, shifting it to a growth phase. So as usual, when we look at the details a little bit closer, it is painting a very different picture. So they do get us a little bit more insight on this in their slide, you know, slide deck that was released with earnings. So I'm going to zoom in here on sales by region because this is really what the focus is. And this is what I think is being a little bit misinterpreted by the market today. So Panasonic, of course, they have Giga Nevada, then they also have the 18650 production in Japan.
在这一部分中，还谈到了它作为一个优先投资领域，转向增长阶段。因此，像往常一样，当我们更仔细地看看细节时，情况就会完全不同。所以他们在他们的收益发布的幻灯片中给了我们更多的洞察。所以我将在这里放大关注销售按地区进行，因为这真的是重点所在。而市场今天对此的解读可能有一点误解。所以松下，当然，他们在Giga Nevada有业务，同时在日本也有18650电池生产。
So this is Tesla's sort of legacy battery cell that they have been using for Model S and Model X for a long time. So you can see how the volumes compare by region. And most recently here in Q3, a pretty significant drop for Japan specifically, however, holding steady for production as it has kind of seemed to have leveled out here for the North American volume, which again, that would be from Giga Nevada supplying Tesla from there. So when we take that in conjunction with what Panasonic actually said here, obviously they're saying that for the S and the X, as potentially, you know, influenced by the cap on the inflation reduction at credit, as those sales are a little bit tougher, they're going to reduce 18650 production in Japan. But as we can see here, that's a small portion of the overall total.
这是特斯拉一直以来在Model S和Model X中使用的传统电池。因此，我们可以看到不同地区的产量对比。最近在第三季度中，日本的销量显著下降，但就生产而言，北美地区的产量保持稳定，似乎已经达到了平衡点，这主要是因为Giga Nevada向特斯拉提供了电池。所以，当我们结合松下的言论来看，很明显他们表示，可能受到通胀压力上限影响，S和X型号的销售略有困难，他们将减少日本的18650电池生产。但正如我们在这里所看到的，这只占整体总量的一小部分。
Of course, we've already seen that sort of come through in the Q3 results from Tesla. We knew back in early October that Model S and Model X production was down pretty significantly this quarter. Historically, that may have been somewhere around 20,000 units. Tesla kind of only getting back to that peak for a couple of quarters here since the refresh. But you know, 20 to 25,000. Now I think last quarter that was more around 15,000, maybe 16. So we kind of already knew this, right? Panasonic said that they're dropping this by 60% or they actually have dropped this production by 60% to account for this.
当然，我们已经在特斯拉的第三季度业绩中看到了这种情况的出现。我们在十月初就已经知道，Model S和Model X的产量在本季度有着相当大的下降。历史上，可能大约在20,000辆左右。特斯拉只在刷新后的几个季度里才逐渐恢复到那个峰值。但你知道，大约在20,000到25,000之间。现在我想上个季度大约是15,000，也许是16,000。所以我们已经有所了解了，不是吗？松下表示他们已经将生产量降低了60%，以应对这一情况。
But again, focused on S and X, the rest of the business is growing. They specifically say down here in the second half in Japan, they're going to further prevent further deterioration and profitability by optimizing fixed costs to align with lower demand in North America. We will respond to the strong demand aiming to increase profitability. So although, and here's the 60% drop that they talked about for Q2 for the for the 18650s. So although the portion that they're talking about here that is being reduced or restricted by lower demand is obviously a small percent of the total. And they talk about growing the rest of the percent of the total. These are the type of headlines that we get demand for yours.
但是，再说一次，尽管重点关注S和X，公司其余业务正在增长。他们特别在这里表示，在日本的下半年，他们将通过优化固定成本与北美的较低需求保持一致，进一步避免利润进一步恶化。我们将响应强劲的需求，旨在增加利润。所以虽然这里所说的二次收缩或减少的部分在总体中显然只占很小一部分。他们谈论的是增长总体的其余部分。这就是我们对于您的需求的这类标题。
I'm not sure what financial times Tesla blames or Panasonic blames lackluster Tesla demand for cuts of profit outlook sort of, but not really. So hopefully that context is helpful. And then they also shared some interesting details in terms of their profitability. So they did say that their energy sort of portion of the business as I split it out here, they say that excluding the impact of the inflation reduction act credits, this would have actually been not profitable for this quarter specifically. And they actually break down in pretty good detail here the impact of the inflation reduction act.
我并不确定是什么引起了财经时报指责特斯拉或松下指责特斯拉需求疲弱导致利润预期调降的事情，但也不完全是这样。希望这个背景资料对理解有所帮助。此外，他们还分享了一些有趣的细节关于利润能力方面。他们表示，除去通货膨胀减值法律凭证的影响，这个季度实际上并没有盈利。相当详细地解析了通货膨胀减值法律凭证的影响。
So I'll zoom in again here, but they say that the favorable impacts recorded plus 21.4 billion yen for them this quarter. They say that that's equal to 46 and a half billion yen tax credit for second quarter sales minus 25.1 billion yen for effective use with customers. So my take on this is that they've got in total about 46 and a half billion yen and credits will convert that to dollars in a second. And to me, how I'm reading this is it seems to be split, you know, 45 55 or so with the customer is kind of my take on it. So the 21.4 billion yen there that would be $143 million of benefit that Panasonic is saying that they got and then $168 million from this 25.1 billion yen, I believe is going to customers if I'm interpreting their results here correctly.
所以我再次放大一下这里，但他们说这个季度为他们记录了有利影响2,140亿日元。他们说这相当于第二季度销售税额为465亿日元减去用于有效利用客户的251亿日元。据我看，他们总共获得了大约465亿日元的税额，我马上将其转换成美元。在我看来，这似乎是以客户为中心的，大约45%到55%。所以，Panasonic声称他们获得了21.4亿日元的效益，相当于1.43亿美元，并且来自这251亿日元的1.68亿美元应该是归客户的，如果我正确解读他们的结果的话。
So we don't get that kind of detailed information from Tesla, but that kind of gives us a sense of where this might be in terms of the battery manufacturing credit to be clear in terms of the impact on Tesla for that. So separate from the $7,500 consumer facing tax credit, this would be for manufacturing of battery cells and modules or packs. I can't remember what the level is. It's $35 per kilowatt hour and $10 per kilowatt hour for each of those. So that's what this is coming from the Panasonic's talking about here.
所以我们从特斯拉这里并没有得到那种详细的信息，但这给了我们一个对特斯拉在制造电池方面产生的税收减免可能达到何种程度的概念。所以与消费者面向的7500美元税收减免无关，这是用于电池电芯、模块或组件的制造。我记不清级别是多少了。电池电芯是每千瓦时35美元，模块或组件是每千瓦时10美元。这就是松下在这里提到的内容。
So again, a lot of interesting information here, but I think the overall takeaway is probably that, you know, they're stepping back 18, 650 production in a line with what we have already seen from Tesla with lower SNX sales. That doesn't give us a very strong indicator that we should not be expecting that to return anytime soon to anything significantly above. I think what we saw in Q3, so that's that is important to know. But again, I don't think that many people were probably expecting that at this point in this environment. So that would be the big thing. And then they do again, say that they are increasing production, responding to strong demand in North America. So that's a good point.
再次，这里有很多有趣的信息，但我认为总体来说，他们正在与特斯拉之前低销量的SNX相一致的步伐下减少18650电池的生产。这并没有给我们一个很强的暗示，我们不应该期待它很快会显著增长。我认为我们在第三季度所看到的情况是很重要的。但我不认为很多人可能在这个环境下期望这一点。这将是重要的事情。然后他们再次说他们正在增加生产，以应对北美市场的强劲需求，这是一个好消息。
And then I think also potentially influencing the stock today. We did over the weekend get agreements for the UAW and Stellantis. So following forward and then this morning got an agreement with GM as we can see here on the UAW page. So the strikes, I think are now over. These are tentative agreements that need to still be ratified. But I believe this is now wrapped up. If not, it will be wrapped up very soon. And then possibly playing into Tesla today, Sean Fane did say that they will now organize like they have never organized before at non-union plans. And that quote, when we return the bargaining table in 2028, it won't just be with the big three, but with the big five or the big six and a quote.
然后我认为这也可能对今天的股市产生影响。在周末我们与UAW和Stellantis达成了协议。所以从现在开始，今早我们与GM也达成了协议，我们可以在UAW页面上看到。所以罢工，我认为现在已经结束了。这些是需要批准的临时协议。但我相信现在应该结束了。如果没有，很快也会结束。然后可能对特斯拉今天产生影响的是，肖恩·法恩表示他们现在将组织起来，像他们以前从未组织过的那样，在非工会计划中。当我们在2028年回到谈判桌时，不仅仅是与三大巨头，还将涉及到五大或六大公司。
So that could also be having an impact on what we're seeing today, just sort of a, you know, response to this, this comments that there will be, if nothing else, a little bit more pressure being put on for Tesla and for other non-union OEMs following these results with the big three. So we'll see on that.
这可能对我们今天所见到的情况产生影响，引发了对特斯拉和其他非工会OEM企业的更多压力的回应，毕竟大三车企的这些结果将会带来一些压力。对此我们拭目以待。
And then one other thing that may have also influenced things a little bit today. I think Gary Black pointed this out on, on X. So on semi conductor on semi, they had disappointing results. Their stock is down 22%. They lowered guidance. They said that this is reduced. They're seeing reduced demand from some European automotive customers that are working through inventory, as well as risks to the auto sector demand caused by higher interest rates.
然后还有一件可能也对今天的情况产生了一些影响的事情。我认为Gary Black在X上指出了这一点。关于半导体公司的情况，他们的业绩令人失望，股价下跌了22%。他们下调了业绩预期，并表示这是由于一些欧洲汽车客户的需求减少，他们正在消化库存，同时高利率导致汽车行业需求面临风险。
So overall, we're seeing, you know, a lot of that type of commentary. I think the Panasonic one being a little bit misinterpreted, actually a very similar updates what we heard from LG where they're seeing maybe a reduction from international battery production, but an increase in North America as a response to the inflation reduction act. But again, seeing this comment from on semi, they had some interesting comments in their earnings call to had to kind of chuckle because when I pulled up the transcript, I saw this name right away, which probably looks familiar to many of you, Pargag Agarwal, obviously former Twitter CEO. Different one though. So I just thought that was kind of funny.
总的来说，我们看到了很多这样的评论。我认为松下的评论可能有一点被误解了，实际上非常类似于我们从LG那里听到的最新消息，他们看到国际电池产量可能会减少，但在对通货膨胀减少法案做出响应后，北美地区的产量可能会增加。但是，再次看到ON Semi的这条评论，他们在财报电话会议上有一些有趣的评论，让我不禁笑了起来，因为当我打开会议记录时，我立刻看到了这个名字，可能许多人对这个名字很熟悉，Parag Agarwal，显然就是前Twitter CEO。不过，这是另一个人。所以我觉得这挺有趣的。
Anyway, in the transcript, they said that for the full year, a single automotive OEM's recent reduction in demand will impact their billion dollar target that they've now dropped to 800 million. So their CEO also in an interview with Bloomberg highlighted this and did specify that so after guy that we've seen single outlier of a customer, they say that this is an automotive OEM in North America.
无论如何，在记录中，他们表示，对于整个年度来说，一家汽车制造商最近对需求的减少将影响他们从十亿美元下调至八亿美元的目标。因此，他们的首席执行官在接受彭博社采访时也强调了这一点，并明确指出，我们看到了这个单一客户的异常情况，他们说，这是一家位于北美的汽车制造商。
So I don't know if this is a supplier of Tesla specifically, but that comment is interesting specifically that it is one. I don't think it would be Tesla, especially if we pair that with comments from Panasonic about, you know, what we highlighted here, increasing response and strong demand in North America. Those two comments wouldn't really fit. Maybe if there was a supplier switch over or something like that, but it wouldn't seem to really connect to the comments that were made from on semi here.
所以我不确定这是否是特斯拉的供应商，但是这个评论很有意思，尤其是因为它是一个供应商。我不认为这会是特斯拉，尤其是如果我们将其与松下关于在北美市场强劲需求和提高反应能力的评论结合起来。这两个评论似乎不太匹配。也许是因为有一个供应商更换或类似的情况，但它似乎与这里提到的评论并不真正相关。
And then one other interesting thing, although again, this is the headline about reduced demand in the automotive industry, their CEO did also say that demand is going up for EVs worldwide. He said, I know there's a lot of stories about softening demand, but that doesn't mean that demand is going down. Demand is actually increasing. So again, maybe reduced guidance and maybe softer demand than what was previously expected, but still they are seeing an EV and EV demand increase.
还有一件有趣的事情是，尽管这是关于汽车行业需求下降的头条新闻，他们的首席执行官也表示，全球范围内电动汽车的需求正在增加。他说：“我知道有很多关于需求放缓的报道，但这并不意味着需求正在下降。实际上，需求正在增加。”所以可以说，可能确实存在一些减少的指导和比之前预期的市场需求疲软，但他们仍然看到了电动汽车和电动汽车需求的增长。
So I think a lot of that a lot of the headlines today just kind of missing a lot of important context and hopefully going through some of that stuff helps a bit.
所以我认为许多当今新闻标题都缺乏很多重要的背景信息，希望通过回顾其中的一些内容能够有所帮助。
And then we also saw earnings reported from BYD today. These are pretty interesting. They did grow revenue for the quarter year over year by 38%. But most interestingly, net profit increased by 82%. So this was about a $1.4 billion profit for them for the quarter, which is obviously a pretty strong result. And if we look at their gross margins, they actually increased this quarter pretty significantly despite some of the pricing pressures and things like that that we've seen in China. So they actually grew their gross margin quarter over quarter up to 22%. So pretty strong results there for BYD.
然后我们今天也看到比亚迪（BYD）发布了其收益报告。这些数据非常有趣。他们在这个季度相比去年同期实现了38%的营收增长。但更有趣的是，净利润增长了82%。所以对于他们来说，这个季度约1.4亿美元的利润显然是一个相当强劲的结果。如果我们看一下他们的毛利率，在一些中国市场上看到了一些定价压力等因素的情况下，他们实际上在这个季度显著地提高了毛利率，达到了22%。所以对于比亚迪来说，这是相当强劲的业绩。
I don't know if that's playing into the reaction for Tesla today at all, but I think the stronger that BYD's businesses, the more that you could connect that with potentially margin pressures for Tesla because the higher BYD's gross margin, the more room they have to be price competitive as well. Obviously, a little bit different of segments, but I think there's certainly some overlap in terms of what the consumers that they're competing for. So the higher that that goes, the more price pressure you could imply for Tesla in China. So interesting to see those results as well. We should probably spend a little bit more time on those in the future.
我不知道这是否对特斯拉今天的反应起作用，但我认为比亚迪业务越强，你就越能将这一点与特斯拉的利润压力联系起来，因为比亚迪的毛利率越高，他们就越有竞争性的定价空间。显然，虽然在不同的领域，但他们之间肯定存在一些重叠，因为他们争夺的是同一批消费者。所以，比亚迪的业绩越高，你就可以暗示特斯拉在中国面临更大的价格压力。所以看到这些结果也是很有趣的。我们以后可能应该花更多时间研究这些。
Moving on from those industry related items today, we do have a little bit more from Motor Trend on the Highland Model 3. So they've posted a little bit of a detailed review on the suspension changes and things like chassis updates to the Highland Model 3. We're not going to go through anything specifically. It's all very detailed, but just wanted to kind of highlight that.
今天，我们离开了与该行业相关的议题，转而对高地Model 3进行更多介绍。Motor Trend最近发表了一篇关于高地Model 3悬挂改变和底盘升级等方面的详细评论。虽然我们不会逐个介绍，因为这里的内容非常详细，但只是想强调一下这一点。
If it is something that you're interested in learning more about, they've got a pretty detailed review here and highlighting things that have changed with the suspension as we've talked about before, their overall takeaways were that there are pretty significant upgrades here for comfort for the Highland Model 3. So that's there if you want to take a look at it.
如果这是你感兴趣进一步了解的内容，他们在这里有一份相当详细的评论，并强调了有关悬挂改变的事项，正如我们之前讨论过的，他们总体看法是高地版Model 3在舒适性方面有着相当大的升级。所以如果你有兴趣，可以去看一下。
And then also, an update on a story we have covered previously, which was that Europe was looking into potential Chinese imported vehicles, EVs that maybe were being subsidized by China and then coming into Europe a little bit more cheaply than they should be. So the South China Morning Post here is saying that primarily they are looking at three firms that are not Tesla. I thought I had those highlighted here. See if I can find those quick. BYD, Psych Motor, and Geeley are apparently the ones that are most focused on.
接下来，我们也要更新一下之前提到的一个故事，即欧洲正在调查潜在的中国进口车辆，特别是可能由中国补贴的电动车辆，它们进入欧洲的价格可能比正常便宜一些。这里《南华早报》称，主要是关注三家非特斯拉的公司，我记得我在这里标注了。让我看看能不能快速找到它们。比亚迪、Psych Motor和吉利显然是那些最受关注的公司。
However, if the EU finds something and they want to change how EV imports are structured, obviously that could then have a side effect on Tesla if that's not targeted by manufacturer, if there is something more that's changed with just China EV imports in general, that could have ramifications for Tesla as well.
然而，如果欧盟发现了某些问题并希望改变电动汽车进口结构，显然这可能会对特斯拉产生副作用，如果这不是针对制造商的目标，如果对中国电动汽车进口有其他更多的改变，这也可能对特斯拉产生影响。
So somebody continued to keep an eye on, but at least for the moment we're hearing that it's not specifically related to Tesla, which was what we kind of originally thought. There was a report that maybe it wasn't that way, now reporting more towards that original thought. So we'll continue to keep an eye on that.
所以有人继续密切关注，但至少目前我们听说这与特斯拉没有特定关联，这是我们最初的想法。曾有一个报告称可能不是这样，现在又回到了最初的想法。因此，我们将继续关注这个情况。
And then just a couple of quick ones here. So GX on X spotted a Cybertruck frunk in action. So we've heard before that this was going to be powered. This makes that pretty clearly look pretty clearly like that is the case. So we're one month out from delivery day right now. We'll hear more about it, but fun to see that in action.
然后这里只是几个快速的问题。所以GX在X上发现了一辆Cybertruck的前备箱在使用中。我们之前听说过这将会被供电。这样看来很明显就是如此了。现在还有一个月到交付日。我们将会听到更多相关信息，但看到它在使用中还是挺有趣的。
And then Redditor, let's see, S3-period has noticed in a Tesla parts catalog, there is some information about a sport seat for the Model S. It looks like this would be for the plaid version of the vehicle, perhaps a part of a track package, but potentially just some upgraded sport seats. You can kind of see some plaid emblems built into the seats there, which would be kind of cool. But no information on them yet. We'll have to keep an eye out for more of this. I think we've heard some rumors about Highland sport seats too. So there do seem to be some changes in the works right now for seats.
然后Redditor，让我们看看，S3期间注意到在特斯拉零件目录中，有关Model S运动座椅的一些信息。看起来这可能是该车型的Plaid版本的一部分，可能是跑道套装的一部分，但也有可能只是一些升级的运动座椅。你可以在那里看到一些刺绣有方格图案的座椅，这可能很酷。但目前还没有关于它们的更多信息。我们将继续关注此事。我想我们也听说过Highland运动座椅的传闻。所以目前似乎有一些座椅的改动计划。
And then the last couple of things. Hyundai has lowered the prices on the Ionic 6, so they cut prices by up to $4,100 on the base version of the vehicle, lowering it now to $38,615. The higher trim versions of the vehicle also received price cuts, although a little bit less significant more than the $2,000 to $3,000 range for the Ionic 6.
然后是最后的几件事情。现代汽车已经降低了Ionic 6的价格，所以他们在该车型的基础版本上削减了高达4100美元的价格，将其现在降至38615美元。该车型的高配版本也获得了降价，尽管幅度没有基础版本那么显著，大约在2000到3000美元之间。
And then lastly, kind of a, I guess, fun or humorous note to wrap up on for today. Toyota is working on developing a manual transmission for their EV cars or at least a faux manual transmission. It even would have things like a clutch system. Apparently, it would even be able to stall. It's pretty much the exact opposite of what first principles thinking would get you. But engineers, apparently according to this report from, I don't have the name of the blog here, but they say the engineers say the system has been created as a part of a move to make electric vehicles fun to drive and in response to chairman Akiyoto's brief to ensure electric cars are not simply a commodity. So typical Toyota behavior, I guess, but interesting to see what they are spending their R&D time on.
最后，作为今天的一个有趣而幽默的事件，丰田正在努力开发一种为他们的电动汽车设计的手动变速器，或者至少是一种伪手动变速器。它甚至会有离合器系统，据说甚至可以熄火。这完全是与首原则思维背道而驰的。但根据这份报告，工程师们称这个系统是他们努力使电动汽车驾驶变得有趣，并响应了董事长秋元的指示，即确保电动汽车不仅仅成为商品。这似乎是典型的丰田行为，但有趣的是看到他们如何利用研发时间。
Alright, that'll wrap it up for today though. So as always, thank you for listening. Make sure you're subscribed and signed up for notifications. You can also find me on X at Tesla podcast and we'll see you tomorrow for the Tuesday, October 31st episode of Tesla Daily. Thank you.
好了，今天就到这里吧。一如既往地感谢大家的收听。确保您已经订阅并开启了通知。你也可以在X上找到我，那里有特斯拉播客。我们明天会在10月31日星期二的特斯拉日报节目中见到你。谢谢。