Welcome to Electrified, it's your host Dylan Loomis. First up today, from yesterday when we talked about XAI looking to raise a billion dollars in equity financing. Well, Elon chimed in saying nothing is being sought from anyone. But if you go to the SEC website and use the Edgar Search system, you'll see this form D offering of securities for XAI. And yes, this is Elon's XAI. Date of the first sale, November 29th of this year. In equity offering, not a merger, minimum investment of 2 million dollars. Total offering amount up to a billion dollars, total amount sold just over 134 million. So maybe Elon is just playing a game of semantics. As in, nothing is being sought because it's already been found.
If you were thinking maybe they're going to stop at this 134.6 million, not true because it says the issue are entered into a binding and enforceable agreement for the purchase and sale of the total remaining to be sold listed above. For now, I'm not sure what Elon is getting at here with this comment. Just wanted to show you that the document is indeed real.
Tesla Scope just said the holiday update has been pushed to employees. They've been made aware this update includes a strict NDA reminder. So they've chosen to withhold certain details. One employee they talked to was very excited. Another previously verified employee said it's better than last year's holiday update. As of recording right now, there are maybe only a handful of cars seemingly in the EU that currently have this update, but it sounds like it'll be rolling out to 10,000 vehicles in the hours and days ahead.
For some context, last year, just a few features that came to mind, Steam gaming, Apple Music, MyQ Garage Door Control, Zoom, and Track Mode. For this year, here's a quick list of requests that I've seen over the past few months. Unified software builds merging the FSD and non-branches. V12, actually smart summon, auto park improvements, auto wipers, YouTube music, pre-conditioning, ways integration, or at least comparable features, traffic lights and stop signs visibly on the map, FSD visualizations on non-FSD cars. And as always, hopefully a few surprises or Easter eggs as well. Don't forget what we talked about yesterday with the Octaview that's supposed to be part of this 23 holiday update. So could these NDAs be for something like FSD12 or a real bird's eye view? People have wanted for years? Fingers crossed, we'll see.
Carwow just dropped a video of the Cybertruck smoking the Lamborghini Eurus time after time after time, even giving head starts on certain occasions. This all with the Cybertruck not having performance tires. Honestly, none of the races were close at all.
Just a PSA for anybody in the market, Tesla did confirm the Model 3 rear wheel drive and long range variants will have the $7,500 credit halved on January 1, 2024. This is subject to change, but at least for now, take delivery by the end of the year for the full credit.
只是一个提醒,对于市场上的任何人来说,特斯拉确认了 Model 3 后驱和长续航版本将在2024年1月1日起享受到的7500美元减税优惠将减半。这一情况可能会有所变化,但至少目前来说,为了获得全额减税优惠,请在年底前交付车辆。
Here we have some pretty interesting data from the Department of Energy. This looks at DC fast charging stats from June 30, 2020 to the same time, 2023. Importantly, this data does not include sessions from the Supercharger network. If for some reason you're still wondering why so many folks are still complaining about the public charging experience, this data will add some color. Across over 1.4 million paid sessions over those three years, the average time per session in minutes was 42 for an energy session pulled in terms of kilowatt hours of 22. This doesn't explicitly factor things like a charging curve, but if you take a Model S or X battery pack around 100 kilowatt hours, these cars would be sitting there for 42 minutes, filling not even one fourth of the pack. To be clear, supercharging stats are not included in this data. That example was just to give some context for how little 22 kilowatt hours really is. This also does not include any of the reliability concerns or all of the chargers that have been down when customers arrive that would actually add to the time people are spending, looking for chargers, and also sitting at them.
Esther reporting that the V4 rollout in Europe is still going fairly quickly. We have another V4 opened in France.
Esther报告称,在欧洲的V4推出仍在相当快速地进行中。我们在法国又开设了另一个V4。
The Cybertruck made it stay on a stage and captivated the entire world because of how it looked. And Tesla could have just made a truck that looked like that. But what they did was reinvent basically how the automobile is constructed, how it's networked, how it steered, and all these, they made all of these changes they didn't have to make that really advanced the art of the automobile. And that was the shock to me, because we've all of course seen it and we decided whether we liked it or not based on what it looked like. And the great irony here is if with a skin like that, it's actually what's underneath it. That's the most impressive.
I had this bit in yesterday's video, but it accidentally got edited out.
昨天的视频中我有这个片段,但它在剪辑过程中意外被删掉了。
Tesla does have a get to know your Cybertruck page that's interactive in nature. You can choose exterior or interior. And then with each section, they have quick explainer tutorials.
One USB-C port and one 120 volt power outlet are located in the center console. One USB port is inside the glove box and two USB-C ports and one 120 volt power outlet are located below the rear touch screen.
Just wanted everybody to know that this is there. If you're interested, I'll have a link to this below.
只是想让大家知道这是存在的。如果你有兴趣,我会在下面给出一个链接。
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According to Roberto Aguilar on X, he got an email from Tesla about a limited edition foundation series Cybertruck that's ready for order. The email as an early reservation holder, you're invited to order the foundation series fully optioned has limited edition laser etched badging premium accessories, charging equipment with power share home backup hardware, all terrain tires, FSD, and more deliveries have begun in California and Texas with more states in 2024.
It sounds like for the rest of this year, this really is just extended testing for Tesla when it comes to these early deliveries. The foundation series variant before fees comes in at 119.9 thousand dollars. Reservation fee is the same 250. No idea how many of these Tesla will sell, but definitely a nice move that will at least slightly help to boost the early stage ramp profitability.
I know it's very tempting to look at some of these Cybertruck charging screenshots. I think this one was shared on Instagram to try to infer what the charging curve is going to be about. I'm just as curious as you are. Hopefully some of these early owners will get the hint and give us some charging videos soon enough. This is the screenshot we have, sits at 69% state of charge says 11 minutes remaining to the charge limit that is currently set to 80%. At this moment in time, it was doing 78 kilowatts and during the session it has added 61 kilowatt hours.
The word after the Cybertruck event when it comes to charging, it'll be able to do from 15 to 85% in about 20 minutes. Then this one anecdote would be 69% to that 80% in 11 minutes, so that doesn't really jive. However, we don't know where this person is charging. Are they even at a Tesla supercharger or are they at some other public station? They could be at a V2 location with split dispenser power. There's just so much that we don't know here, so personally I would not draw any conclusions from this one screenshot.
But I will say the charging curve of the Cybertruck is going to be very important to the overall satisfaction and ultimately adoption of this vehicle. With the 4680 pack, this Gen 2, there's still a lot that we don't know. Because remember the 4680 cells in select versions of the Model Y, those are actually different Gen 1 cells now worth to Gen 2, which we know fairly accurately when it comes to the density, but when it comes to the charging curve, it's still a mystery.
And I know, I know, more V4 stalls are coming, eventually those sites will have V4 level cabinets to enable them to actually do speeds up to 350 kilowatts. And theoretically, the Cybertruck on an 800 volt architecture should be able to take advantage of faster speeds. It's also true, however, that Tesla could be limiting these early packs out in the wild at least for a period of time. It's also true, I would add that there's a chance Tesla is going to limit these early Cybertruck packs at least for the first few days or weeks.
My main point with all of this though, if you saw this screenshot, do not panic when it comes to thinking that the charging curve is going to be terrible on the Cybertruck, just too much we don't know.
Everybody lately has been saying that EV demand has been falling off a cliff, but what does the data say? Sales of passenger EVs are on pace to hit 14 million this year, up 36% from last year. In the United States, where most of these demand concerns have been raised, sales are growing even faster and will be up around 50% this year.
In Bloomberg astutely pointing out, it looks like it's much more of a winnowing down of who is competitive in the market, more so than a general drop off in overall demand. That's exactly what we've been saying, and they added EV adoption is rising quickly in emerging economies like India, Thailand, and Indonesia. Adding EVs are already 9% of cars sold in Thailand, although they would be at much lower ASPs.
Bloomberg knew energy finance expects the first IRA-related EV and battery manufacturing facilities to open fully in the second half of 2024. Just a fun fact of all the countries that currently have phase out targets in place for combustion vehicles, they combined represent covering 19% of the new passenger vehicle sales. There are certainly pockets of demand and for select EV models where demand is lagging, but zooming out looking at a global perspective, we're seemingly right on track.
Tesla now has a page on the website for its own tire protection plan. Now you may roll your eyes at this, but I'll tell you a quick anecdote. Last time my wife and I took a cross country road trip right before the trip, we got a new set of tires. Within three hours on our trip, one of the tires popped simply driving over one of those little reflectors that they have in between lanes. A long story short when I tried to get a new tire because it had only been about a week since we bought these brand new tires, they said we were out of luck because we didn't buy a tire protection plan. For Tesla, the cost $35 per tire on the Model 3, 55 on the Y, 90 on the S and X. The plan covers your new tires and the wheels they're mounted on for 12 months following the initial purchase and installation of a new tire from Tesla. The plan covers tire and wheel repairs and replacements caused by typical road hazards. It does not cover cosmetic damages, theft or vandalism.
Sadly though, in the FAQ right now, it does say you can add the tire protection plan when you buy new tires in California through Tesla service by scheduling in the app. So for now, the tire protection plan is only available in California.
Tesla China analyst on X shared an image of a local source saying that the office for ministry and transport has now issued the guidelines for these autonomous vehicle trials. They added the guidelines issued imply that FSD is about to be officially implemented. The drum beat on this has been picking up but just from that screenshot they shared this was from a while ago and it mentions nothing about Tesla. However, it does say that this trial phase has been granted or approved saying it's now issued to you. Again though, no mention of Tesla specifically.
With this one, I know it's very easy to get a little carried away and super excited I was at first but I do want to say that when it comes to gigashang high rumors we have to be very cautious, they're not always accurate. But what do we have? Car news China saying Tesla is planning to restart construction of the third phase of gigashang high which is now going to be dedicated to producing the $25,000 car. I'll offer a friendly reminder that just a few days ago when Elon talked to Sandy he said that first this vehicle was going to be built in Texas then gigamexico would be second and they're not going to be ready to go for at least a year most likely closer to two.
So if Tesla really was going to build out this third phase right now it would undoubtedly be ready before gigamexico so wouldn't Elon have said that China was going to be the second location for this car. This report also says gigashang high has an annual capacity of 1.1 million units but looking at Tesla's slide deck from Q3 of this year for Shanghai they have over 950,000 and for a frame of reference on their Q2 financials this year for gigashang high they had over 750,000. Other than that all the source really said was that when it comes to Tesla's megapack factory in Shanghai that's supposed to be up and running sometime Q2 of next year but we haven't gotten any updates they said initially Tesla will buy cells from CATL before switching to its presumably its own batteries.
Earlier this year the word was that this expansion at Shanghai was going to take the capacity to 2 million units but there was no word of it being for the $25,000 car. Obviously plans can change I'm just saying that historically the reports coming out of Shanghai have not always been the most accurate.
If you hide the quarterly totals for this year looking at actual sales data from Shanghai you can see that they've sold wholesale 853.6 thousand units. Once we add in the actual for December they'll end up coming in just under their listed capacity of over 950,000. Just don't forget about downtime upgrades supply chain delays all of those factors.
This would be very exciting if true even if it's not happening right now at some point it seems like a foregone conclusion that yes Tesla's going to make the affordable vehicle in China and then sell it there and continue to use gigashang high as an export hub for this vehicle as well.
I just wanted to put it out there that this doesn't really line up with what we just heard Elon say in that conversation with Sandy.
我只是想说一下,在刚刚与Sandy的谈话中,这与Elon刚刚所说的并不太一致。
Tesla manufacturing posted a welcome pathfinder and opportunity our fully autonomous drones at gigabralin they accurately count up to 12,000 pallets per day each in this image you can see the drone is actually wired to this autonomous robot and then presumably this robot would take that data and transmit it to Tesla's enterprise resource planning system their warp speed project that we did a deep dive on months if not years ago.
An update on Tesla Sweden and the situation is not getting better today a conglomerate of unions in Norway said it's now going to take action against Tesla if they don't sign a collective agreement by December 20th the head of the trade union said this is a clear signal to Tesla they cannot transport Swedish Teslas through Norway not only that but if you recall one of those two lawsuits that Tesla filed against the transport agency and the postal service one initially had a favorable ruling fast forward to today and it looks like a court has withdrawn that favorable ruling for Tesla in appeals court with withdrew a temporary injunction that allowed Tesla to pick up new vehicle license plates directly from the company that makes them now Tesla's lawsuit against this transport agency will be reviewed by the appeals court ahead of a final ruling in the meantime Tesla is reliant on the postal service that is also part of these sympathy strikes as we highlighted in a bit more detail in yesterday's video this blockade or sympathy strike expansion could extend across the entire Nordic region as Finland is set to make a decision by tomorrow I don't want to speculate but you can't help but wonder is somebody behind the scenes strong arming somebody in the court system why would they actually go withdraw that previous favorable ruling for Tesla conveniently at the same time that the rest of these Nordic countries are all planning to join in on these sympathy strikes.
If you missed it watt energy uploaded a video of the Tesla with the most miles as far as we know in the world it currently has over 1.1 million miles the video goes over how over the course of its life it has had 14 different motors they talk about why some of the replacements that Tesla gave were refurbished parts before they knew what was wrong with them some was covered under warranty others were not when it comes to the battery packs this vehicle has had four different battery packs meaning on average each one has done roughly 300,000 miles I would just add some of those battery packs were very early technology for Tesla this is actually a 2014 model sp85 as always your own Tesla and EV mileage will vary greatly but pretty interesting video it'll be below if you want to check it out as I've said before I'm really waiting for the point when we have some Tesla battery packs that have lasted 500,000 miles plus because when you do total cost of ownership comparisons with a Tesla like that where an ice vehicle may only last 250 to 300,000 miles things become very interesting in favor of the EV or the Tesla.
The new CEO of Cruz just came out and said that things are continually crumbling they're at an all time low mo el sianagwe said we went from an all time high to an all time low and from being an industry leader to temporarily pausing all of our operations apparently it's part of the GM culture to use things like industry leader very very loosely he said Cruz's approach to developing self driving cars that were simply better than humans has been wrong and not what the stakeholders are expecting from us Cruz could face 1.5 million dollars in fines and additional sanctions over its failure to disclose data around that pedestrian accident Cruz has now been ordered to appear at a February 6th hearing for misleading the commission through omission regarding the extent and seriousness of the accident Cruz has said it will conduct layoffs later this month but no word on how many or who will be laid off in terms of Cruz rebuilding trust with regulators and stakeholders he said we still have a ways to go Cruz is also revaluating workers compensation.
I don't want to sound like a broken record but in quarter one i won't be surprised at all if Cruz turns into more of a research project for GM than an actual company looking to earn revenue don't misunderstand me i'm not predicting that i'm just saying i will not be surprised.
Ryan on X shared that on facebook someone spotted j leno driving a foundation series cyber truck just this afternoon to probably nobody's surprised don't forget check out surf shark linked below protect you and your family it's very affordable 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.