Connect with us

News

Hyundai to construct an EV module plant in S. Korea

(Credit: Hyundai)

Published

on

Hyundai plans to construct an electric vehicle (EV) module plant in South Korea. Hyundai’s investment shows that it still believes electric vehicles are the future despite a slowing market. 

On Thursday, May 9, 2024, Hyundai signed an investment memorandum of understanding with the Ulsan Metropolitan City. Ulsan Mayor Kim Du-gyeom and Hyundai Mobis CEO Lee Gyu-suk attended the signing, reported the Korea Herald

The EV module plant’s expected completion date is late 2025. Hyundai’s module plant in Ulsan will supply critical EV parts to automakers, including driver’s seat modules. The plant will also manufacture a chassis module that will be delivered with Hyundai’s Power Electric (PE) system. The chassis module will be an essential part of the structural system of future EVs. It will integrate functions like suspension, steering, and braking.

Hyundai Motor Group’s parts and service arm, Hyundai Mobis, will be in charge of building the EV module plant in South Korea. The Asian automaker plans to invest approximately $65 million on the EV module plant. 

The EV module plant will expand Hyundai Mobis’ manufacturing network in South Korea. Currently, Mobis’ manufacturing network includes battery system and PE system plants in Ulsan, Daegu, Chinju, and Pyeongtaek. 

Hyundai’s investment in an EV module plant reveals its commitment to the future of electric vehicles. Last month, the South Korean automaker formed a partnership with Japanese material manufacturer Toray Industries to enhance EV performance. Hyundai is also investing nearly $1 billion to develop self-driving technology. 

Advertisement

However, even Hyundai isn’t immune to the slowing EV market. In April 2024, Hyundai decided to invest in hybrid production at its Georgia Metaplant which was initially a dedicated factory for EV production.

If you have any tips, contact me at maria@teslarati.com or via X @Writer_01001101. 

Maria--aka "M"-- is an experienced writer and book editor. She's written about several topics including health, tech, and politics. As a book editor, she's worked with authors who write Sci-Fi, Romance, and Dark Fantasy. M loves hearing from TESLARATI readers. If you have any tips or article ideas, contact her at maria@teslarati.com or via X, @Writer_01001101.

News

Tesla begins deliveries of its affordable Model Y Standard

The ‘Standard’ Model Y is now getting ready to fall into customer hands, according to some owners, who are preparing for or have already taken delivery of the new model.

Published

on

Credit: Tesla

Tesla has officially started deliveries of the affordable Model Y ‘Standard’ less than three weeks after the company launched it on October 8.

Following the loss of the $7,500 electric vehicle tax credit, Tesla launched the Model 3 and Model Y ‘Standard’ trims, both coming in at sub-$40,000 starting prices, but being stripped of many of the features that come in the ‘Premium’ configuration levels.

Tesla launches two new affordable models with ‘Standard’ Model 3, Y offerings

The vehicles are Tesla’s answer to the loss of the tax credit, which was phased out by the Trump Administration. Tesla said it has been developing these models for over a year, as it revealed in early 2024 that it was working to create new vehicles that would be more affordable.

It also said it was developing vehicles to be built on a new-generation platform, which is a likely reference to the Cybercab, which has also been spotted at both Gigafactory Texas and the Fremont Factory.

The ‘Standard’ Model Y is now getting ready to fall into customer hands, according to some owners, who are preparing for or have already taken delivery of the new model:

Tesla slated deliveries for November when the two vehicles launched on October 8, but that seems to be an underpromise and overdeliver type of situation.

The new features for the Model Y include:

  • New athletically tuned exterior and new alloy wheels to improve aerodynamics
  • 15.4″ touchscreen in the front, the same as the other trims
  • Available in three colors: Stealth Grey (free), White ($1,oo0 extra), Diamond Black ($1,500 extra)
  • Textile and vegan leather interior
  • Range sits at 321 miles
  • New front fascia
  • Covered glass roof (textile on inside)
  • Windows are not acoustically laminated for a quieter cabin
  • Manual mirrors and seats
  • Smaller frunk
  • No rear infotainment screen
  • No basic Autopilot
  • 69 kWh battery
  • New 19″ Aperture wheels
  • 0-60 MPH in 6.8 seconds
  • 7 speaker stereo, down from 15 speakers in premium models
@teslarati 🚨 Tesla’s Affordable Models are here! Let’s talk about them! #tesla #fyp #viral #teslaev #elonmusk ♬ Natural Emotions – Muspace Lofi

 

Continue Reading

Investor's Corner

Tesla analyst says this common earnings narrative is losing importance

“Numbers are going down next year, but that’s ok because it’s all about autonomy.”

Published

on

(Credit: Tesla)

A Tesla (NASDAQ: TSLA) analyst is doubling down on the idea that one common earnings narrative is losing importance as the company continues to work toward new technologies and projects.

This week, Tesla will report earnings for the third quarter, and one thing people always pay attention to is deliveries. Although Tesla reveals its deliveries for the quarter well before it reports earnings, many investors will look for commentary regarding the company’s strategy for responding to the loss of the $7,500 tax credit.

Tesla has made a few moves already, including a lease deal that takes a substantial amount of money off, launching new Standard models, and cutting up to 23 percent off of lease pricing.

Tesla makes crazy move to spur short-term demand in the U.S.

However, analysts are looking at the company in a different light.

Aligning with the narrative that Tesla is not just a car company and has many different projects, Gene Munster of Deepwater Asset Management believes many investors need to look at another part of the business.

Munster said the delivery figures for Q3, which landed at 497,099, the highest in company history, were padded by customers rushing to showrooms to take advantage of the expiring tax credit.

He believes that deliveries will be more realistic in subsequent quarters, but investors should not worry because the focus on Tesla is not going to be on how many cars it hands over to customers:

“Numbers are going down next year, but that’s ok because it’s all about autonomy.”

Tesla has been working nonstop to roll out a dedicated Robotaxi platform in various cities across the United States, and has already launched in two states: Texas and California.

It has also received regulatory approvals to test driverless Robotaxis in Arizona and Nevada, while seeking permissions in Florida and other states, according to the company’s online job postings.

Munster continued:

“Most people are hyper-focused on the Robotaxi opportunity and not focused as much on FSD.”

While Robotaxi is incredibly important, Tesla’s Full Self-Driving (Supervised) suite is also extremely crucial moving forward, as it sets the stage for the company to roll out a formidable self-driving service.

Tesla rolled out its newest FSD software to more owners last night, and as it expands, the company is gaining valuable data to refine its performance.

Earnings will be reported tomorrow at market close.

Continue Reading

News

Tesla rolled out a new feature with FSD v14 to fix a major complaint

One of the most crucial cameras for FSD operation is located at the top of the windshield, and some owners have complained about condensation or other debris accumulating here, which impacts FSD’s availability during drives.

Published

on

Credit: The Kilowatts | X

Tesla rolled out a new feature with Full Self-Driving (Supervised) v14.1.3 in an effort to fix a major complaint from owners.

Tesla’s approach to self-driving is significantly different than other companies as it only relies on cameras for operation. Tesla Vision was launched several years ago and completely axed any reliance the suite had on sensors, as CEO Elon Musk’s strategy was unorthodox and went against the grain.

However, it has proven to be effective, as Tesla still operates the most refined semi-autonomous driving suite in the United States.

There are some drawbacks, though, and one of them has to do with the obvious: cameras get dirty and need to be cleaned somewhat regularly.

One of the most crucial cameras for FSD operation is located at the top of the windshield, and some owners have complained about condensation or other debris accumulating here, which impacts FSD’s availability during drives:

Tesla has been working to confront this issue, and in classic fashion, it used a software update to work on resolving it.

With the rollout of Full Self-Driving v14.1.3 and Software Version 2025.32.8.15, Tesla added a new feature that aims to clean the front camera efficiently without relying on the owner to do it manually.

Tesla Full Self-Driving’s new version officially gets a wider rollout

In its release notes for the suite, it said:

“Added automatic narrow field washing to provide rapid and efficient front camera self-cleaning, and optimize aerodynamics wash at higher vehicle speed.”

If the camera starts to have some issues with visibility, the car will automatically clean the front windshield camera to avoid any issues:

This new addition is a small but mighty change considering all things. It is a necessary process to keep things operational and avoid any disruptions in FSD performance. It is also a testament to how much better Tesla vehicles can get with a simple software update.

Continue Reading

Trending