Mr. Musk, how would you further work with China? I'm very happy with our progress in China. It's going very well. What are your expectations for China-US relations next? I hope for the best. I hope China and the United States can work together for mutual prosperity of the world. What would you like to say to the President tonight? I'm just starting looking forward to meeting. We met once briefly at a court to begin again.
Welcome to Electrified. It's your host Dylan Loomis. Today's episode is going to be a throwback in two ways. A shorter episode and an earlier upload. I've seen some of you in the comments saying you've been missing that, so I wanted to say back. I see you and I hear you. I will say though, going forward, I'm just going to let the content and the interesting news dictate the timing and the length of the videos. I know there's no way I can please everybody, but just know I do my best to hear everybody, and I'm constantly weighing all of that feedback.
We have Elon meeting with President Xi. Apparently only for the second time, this was in San Francisco last night. Elon expressed his gratitude and appreciation for the rapid development of China's and EV industry. There were plenty of other CEOs at the meeting and we don't have a ton of info, but I do think that this meeting should do at least something to assuage some of those fears about Tesla and China that I know some people have. After dinner, Xi met with Elon and other important representatives in a small gathering showing support for Tesla's development in China. Not much data, but the overall tone was a very positive one.
Connecting the dots on X was talking about those FSD beta release notes, specifically the one about Tesla's vision park assist and the upgrades, but really using hardware for James down much I'm didn't saying almost no FSD features are fundamentally hardware limited. As the software improves, so will important behaviors. Hardware three is the most important platform in the fleet and will continue to be for some years yet. I think that's very important context for any hardware three owners that may be feeling like they're left behind.
We've talked a lot this year about Tesla opening the Supercharger network in the United States and now they're doing the same thing in China. Polestar has now become the second company in the Chinese market that signed a partnership to use Tesla's Supercharger network. Separately, Polestar will still be building out its own network in the region. You may recall last week we talked about SAIC and GM that joint venture also announced they'd be using Tesla's network. With the GM SAIC announcement, they said there were only 10 Tesla Supercharger locations that were actually open to non-Tesla to date, in addition to 200 destination chargers. It's early days for this in the Chinese market, but now we'll see how fast and what other dominoes may fall.
Most of the auto industry globally has recognized Tesla's superiority on this front and it's only a matter of time until the rest of the public understands it as well. Tesla Powerballs are now available in Portugal, a new market. The Portuguese government like many other globally are adamant about transitioning to sustainable energy. Not only that, but they recognize the crucial role that battery storage can play in this transition. Another initiative Portugal has been focusing on, virtual power plants to which the powerball will fit in seamlessly. The Portuguese government has set a target for 80% of its electricity generation to be from renewables by 2026. One of their biggest challenges to this, a lack of grid connection, which yes, virtual power plants can help alleviate.
According to the IEA, for this year, the Portuguese government provides income tax exemptions for decentralized production of renewable electricity. Meaning there should be incentives available for these powerballs to be paired with solar. Along similar lines, you know how Tesla is now operating its own electric utility in Texas with Tesla Electric? Well, now they've officially been approved to do the same thing in Australia.
We talked about this month ago, but now it's official. Tesla is looking to combine rooftop solar, batteries, and EVs to disrupt the business model of traditional incumbents when it comes to utilities. Today, the Australian Energy Regulator said it accepted Tesla's application and opened it up for submissions. Tesla is going to combine its ecosystem of products and package them up into retail electricity packages for households across the main grid.
Tesla is seeking a retailing license for Tesla energy ventures in New South Wales, Victoria, Queensland, South Australia, Tasmania, and the Australian Capital Territory. Tesla's initial focus will be on customers who already have a Tesla product, including the megapack on the commercial side. That number should total around $150,000 and growing quickly. Tesla wants to control the appliances to service grid markets like pricing events and frequency control. It'll also help to manage the load of its large and growing EV Supercharger network across the country.
In Tesla's application, they did say this is just the beginning. And in a recruitment drive in the UK, where they're working on launching Tesla energy there, they said their intention is to disrupt the status quo as they look for a CEO with a healthy skepticism of the status quo. If you want to learn more about how this business line for Tesla actually operates, specifically in the Texas market, I'll have this 8 minute video linked below. When it comes to the long term, this program is definitely still in its infancy, and this one will probably grow slower than some of us would like to see, but given Tesla is expanding this business.
This line into other markets with disruption in mind is of course what you want to see. X-TUR became a household brand after creating the first trackable wallet. Since then though, they've added some really nice products that I'm now using regularly. And for their holiday sale, they're offering electrified viewers up to 55% off using my code electrified as the sponsor of this video. True story, I've had 6 or 7 people ask me where my wallet is from when I've had it out over the past few months. And for good reason, they're super slim, about half the size of a conventional wallet, but they can carry 12 cards and cash.
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A Swedish source posted this news article. I did go ahead and translate the article, but it's tough to see here. Nicholas did post the translation as well. The simple takeaway, no one's actually listening to the Tesla employees in Sweden. They are content with Tesla, and they don't really want anything to do with the Union. This one Tesla employee said he received threats of dismissal from the Union and their buddies.
He said Tesla's the best employer he's ever had. He just wants to contribute to the mission, adding IF Mattall continues to threaten Tesla employees, including now the cleaning crew saying they're not going to clean Tesla facilities. Remember, tomorrow November 17th, the sympathy strikes were supposed to ratchet up. From Photovoltaic magazine, we have one of the largest solar projects in the United States, now in operation in California. But it gets much better, because this one gigawatt-hour project of co-located battery energy storage is using batteries from Tesla's Lathrop Facility.
Some quick math, one gigawatt-hour is the same as 1000 megawatt-hours. If you take about 4 megawatt-hours per Tesla megapack, that's 250 Tesla megapacks in this project. If it is indeed all Tesla megapacks, times roughly 2 million a pop. That's about 500 million dollars in potential revenue for Tesla. How much of that would Tesla have already recognized is anybody's guess, but this project is big enough to provide power for over 207,000 homes per year.
We have Trevor Scott on X stumbling across the first Tesla video ad on YouTube. He was actually scrolling through shorts when he saw this. We're the only car maker in the world that has a fleet of well over a million cars on the road, fully instrumented from a sensing perspective. We can know exactly where the seat is, we can know where the steering wheel is, we know when the airbag deployed exactly to the millisecond, we have more data now than we've ever had before. We can understand real exposure and then we can design our vehicles for that exposure.
There you have it, let's start with the good. Tesla is now doing video advertising on YouTube like many people have been wanting now for months. Tesla is clearly continuing to test and iterate on its advertising methods now moving into video ads. With that said, personally, I have to say it, I think this ad stinks. They have a vertical video ad using a horizontal video leaving all of this empty space. They just ramble on about data and yes, I know they're trying to get the point across about Tesla safety, but in my opinion, this is definitely not the best way to do that.
We also have to keep in mind while some people put safety first, there are plenty of consumers who are looking at price and styling as the most important things for their vehicle. And Tesla has so much awesome footage of the vehicles and the tech, but they choose to show a crash test video that most people do not care about at all. Not that they don't care about safety, but when they're scrolling through YouTube shorts, they're probably not looking for crash test videos.
This is an older chart, but if Tesla wants to get the point across about Tesla safety, I think there are better ways to do it. Lowest probability of injury as reported by NHTSA. With a chart like this, a consumer can quickly understand that Tesla's vehicles have the lowest probability of injury out of the top 50 vehicles tested over the past decade. We don't need Tesla to start advertising to the general public, talking about how much data they're collecting because people not in our Tesla bubble will immediately think, oh, privacy concerns.
In my opinion, the two areas Tesla needs to hammer home the most when it comes to this advertising. Affordability may be lead with this for the ad, and to educate about home charging and the supercharger network being totally set apart and above the public charging narrative that they're all seeing. At the end of the day, Tesla's going to get all of the data and the feedback and the metrics from these ads, and I'm sure they'll get better with time.
And if you think I sounded a little harsh, maybe I do, but at a startup I used to work at, I did run ads for the company, and I'm telling you right now, Tesla can do a lot better than this. You have to understand what the consumer is going to be looking for while they're scrolling whatever they're scrolling. Especially for YouTube shorts, it's most likely going to be a younger demographic, so show them acceleration. Show them famous people driving in Tesla. Show them Joe Rogan gushing about Tesla and the Cybertruck. But that's probably enough ranting for now, so overall, very glad to see Tesla take this step.
It's a move in the right direction now, let's keep making it better. I think that is a perfect segue to this Rogan talking with the rock about Tesla as per the usual Joe Rogan was raving about his own Tesla, how he drives it the most and how he loves the Cybertruck and seeing it in person is just a different experience, to which we learned that the rock didn't know anything about the Cybertruck. Now, I will say it's certainly possible that the rock was just playing stupid here because he did say he pretty much exclusively drives pickups, so for him to not know about Tesla Cybertruck doesn't make a lot of sense, but he does have a Ford deal that could be worth $15 million per year.
So maybe the rock was just catering to Ford by pretending that he didn't know about the Cybertruck. Then again, he might actually not have known because outside of this Tesla bubble we all exist in, people are still clueless. The rock also effectively asked Rogan if Tesla had an SUV. Redwood materials and Toyota have announced Phase 2 of their partnership. Initially with Phase 1, Redwood was focused on the collection testing and recycling of Toyota hybrid EV batteries, creating end-of-life pathways.
Now in Part 2, Toyota is going to source Redwood's cathode active materials and anode copper foil, as part of its production in Toyota's upcoming North Carolina battery manufacturing plant. Redwood said this could be the first time an automaker is both recycling end-of-life hybrid EV batteries, then returning those same recycled metals into that same automaker's batteries for use in future electrified and all electric vehicles.
It came down to the wire, but GM voters did ultimately vote to ratify the new contracts with the UAW. The total votes in favor of the deal were 19.6000 compared to 16.2000 against a winning margin of only 3.4 thousand votes. I think the problem with this whole situation is now glaringly obvious. You have a non-trivial percentage of these GM workers that are not happy with this new deal. Why? They said because GM has a higher percentage of traditional workers compared to Ford and Stellantis, they were dissatisfied about pension contributions and retirement benefits.
The Ford and Stellantis deals are likely going to pass as well, but their percentage of yes votes is not that much better than GM. Here we have it, the new 3-row, 7-seater, lucid gravity, starting at $80,000 with a projected driving range in excess of 440 miles. It has a coefficient of drag of less than .24 and a 34-inch curved and uninterrupted OLED display. It should do 0-60 in less than 3.5 seconds and have 6,000 pounds of towing capacity.
It'll run on a 900-volt architecture and production is expected to begin late 2024. How about this one? Hyundai just announced it's going to sell its vehicles on Amazon starting next year. Consumers will be able to complete the full car shopping and buying experience within a familiar digital environment. The program will begin with 18 dealers.
Consumers also will be able to search local in-stock cars and crossovers by preference, including model trim color and features. Based on availability, the new vehicle will be delivered to the buyer or available for pickup at the local dealers. This is all part of the expanding integration between Hyundai vehicles and Amazon features.
In 2025, their cars will have Amazon Alexa built-in, drivers can tap into music, podcasts and audiobooks, and Alexa will provide traffic and weather information and control the navigation system. This is what I like to call the Tesla Effect, something that most likely would have never happened had it not been for Tesla.
When it rains, it pours for crews as today they suspended the program under which GM buys back employee shares. Kyle Vogt said the company will re-evaluate the employee equity program in light of their suspension, which pushed out our commercialization and revenue generation timelines. Recent events have materially changed the situation that existed at the time of the last valuation. The article finished saying crews has lost more than $8 billion since 2017 and tomorrow, November 17th, will be a cruise rest day.
Please take time to recharge. Simply put, GM and crews are totally rethinking their compensation package. Don't forget check out Xter linked below to take advantage of that 55% off discount. Grab something for yourself or a friend or family member for the holidays. I really do think you'd be able to find something you like.
Hope you guys have a wonderful day. Please like the video if you did. You can find me on X linked below and a huge thank you to all of my Patreon supporters.
希望你们都有美好的一天。如果你喜欢这个视频,请给我点个赞。你可以在下面链接的 X 平台上找到我,非常感谢我的 Patreon 支持者们。