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IDRA Group shows off new Tesla Model Y IDRA Group shows off new Tesla Model Y

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IDRA Group shows off new Tesla Model Y

Credit: IDRA Group

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IDRA Group showed off a new Tesla Model Y in a LinkedIn Post on Friday with the caption, “It’s time for a change!” IDRA makes the Giga Press which is one of the largest casting machines on the market.

Tesla has several Giga Presses and uses them to “make full-sized cars similar to how toy cars are made.” In July, Tesla showed off its casting machines in a video.

Credit: IDRA Group

In 2021, Tesla announced that it began using IDRA’s Giga Press to create the Model Y frames. The press stamps out half of the Model Y frame enabling the automaker to make the chassis from only two pieces instead of several. Tesla has the Model Y Giga Press machines in Gigafactories Austin and Berlin.

Although Tesla is a well-known customer of IDRA’s with eight Giga Presses, IDRA pointed out that a total of 24 of these monster machines have been sold globally.  On Friday, IDRA shared a photo of a Tesla Model Y with the “Giga Press” emblazoned on the side and “IDRA” on the frunk. We don’t know if IDRA just bought one or is buying a fleet, however, one Model Y is better than none.

Earlier this spring in May, IDRA shared a video showing the assembly process of its Giga Press. In 2021, Elon Musk said that the Cybertruck would need a Giga Press that far exceeds the 6,000-ton machines that were then being used for the Model Y. He said that the Cybertruck’s underbody would need at least an 8,000-ton Giga Press.

You can watch IDRA’s assembly of its 9,000-ton Giga Press below.

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Note: Johnna is a Tesla shareholder and supports its mission. 

Your feedback is important. If you have any comments, or concerns, or see a typo, you can email me at johnna@teslarati.com. You can also reach me on Twitter @JohnnaCrider1

 

 

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Tesla just teased something crazy with the next Full Self-Driving update

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Credit: Tesla Europe & Middle East | X

Tesla just teased something crazy with the next Full Self-Driving update, which will be released to Early Access Program (EAP) members today.

Tesla just recently released the v14 Full Self-Driving update, and it followed up just a few days later with v14.1.1.

The subsequent release helped refine a handful of things, especially an issue with stuttering at intersections and overall indecisiveness, but it was more of a smoothing over of the initial v14.1 Full Self-Driving release.

However, on Wednesday evening, Tesla’s Head of AI, Ashok Elluswamy, said that the company would be releasing v14.1.2 to EAP members today, and that it would “debut a much-awaited feature.”

He followed that up with a racecar emoji and a smoke emoji, potentially hinting toward something speed-related. However, it could mean something totally different.

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Some suggested it was potentially a new Speed Profile that could rank above the “Hurry” option, but that seems unnecessary. As far as other features that have been teased, one that definitely comes to mind is the “Banish” feature that was recently teased by CEO Elon Musk.

Banish is essentially the finishing touch to Tesla’s Actually Smart Summon (ASS), which launched earlier this year.

While ASS will bring your car to your location using the Tesla app on your phone, Banish does just the opposite by dropping you off at the door of your destination and finding a parking spot on its own.

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Elon Musk teases ‘Banish’ feature to pair perfectly with Summon

This was recently teased by Musk yet again, as he said earlier this month that Full Self-Driving would be capable of it very soon.

Based on what we’ve seen out of v14.1 and v14.1.1, there is some potential that Banish could be released and could be the feature that Elluswamy is hinting toward, although there is no direct evidence of that.

Luckily, I was able to get into the EAP, so as the feature is released and the Release Notes are available, we’ll be able to report on exactly what feature is on the way.

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Tesla benefits from new incentive program that’s active after tax credit loss

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(Credit: Tesla)

Tesla benefits from an incentive program in Texas that has become active following the loss of the $7,500 EV tax credit, which was a significant advantage for EV drivers.

In Texas, the State Commission on Environmental Quality has a grant program for light-duty motor vehicles that are either purchased or leased by consumers.

Referred to as the Light-Duty Motor Vehicle Purchase or Lease Incentive Program (LDPLIP), the program opened on October 13 and provides grants for consumers who want to buy new energy vehicles.

Will Tesla thrive without the EV tax credit? Five reasons why they might

The program allows for grants of up to $2,500 for electric or hydrogen fuel cell vehicles.

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These are the eligibility criteria:

  • Individuals or entities who purchase or lease an eligible vehicle on or after September 1, 2025, and who apply for or acquire title and registration of the vehicle in Texas
  • Applicants must have taken possession of the vehicle before applying
  • Applicants must commit to operating and registering the vehicle in Texas for at least one year

Additionally, the car must:

  • Be included on the TCEQ Eligible Vehicle List
  • Be new and must not have been the subject of any prior retail sale or lease
  • Have a gross vehicle weight rating of 10,000 pounds or less

They are awarded on a first-come, first-served basis.

The good news is that Tesla’s entire vehicle lineup, as of October 7, qualifies. Here is what the LDPLIP’s list of qualifying vehicles shows for Tesla:

  • Tesla Cybertruck AWD
  • Tesla Cybertruck Beast
  • Tesla Model S AWD
  • Tesla Model S Plaid
  • Tesla Model X AWD
  • Tesla Model X Plaid
  • Tesla Model Y Long Range RWD
  • Tesla Model Y Long Range AWD
  • Tesla Model Y Performance
  • Tesla Model 3 Long Range RWD
  • Tesla Model 3 Long Range AWD
  • Tesla Model 3 Performance

This list was published during the day of October 7, which is coincidentally the same day Tesla launched its Tesla Model 3 ‘Standard’ and Tesla Model Y ‘Standard.’

We reached out to the program to confirm that these vehicles qualify for that grant, and we will update when we hear back.

With the loss of the Federal EV Tax Credit, local programs are still available to help with the cost of an EV. Although electric cars are affordable, there are benefits to choosing one, especially as these grant programs continue to become available.

The full list of vehicles that qualify for the grant is available here.

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Tesla’s pay package saga with Elon Musk enters its final chapter

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tesla elon musk

Tesla has made a last-ditch effort to secure the $56 billion pay package for CEO Elon Musk, which was approved twice by company shareholders, after a Delaware Chancery Court denied the frontman the payday.

Perhaps one of the biggest issues from a standpoint of being fluent in Tesla-related events has been Musk’s pay package.

It was approved by shareholders once in 2018, and required Musk to oversee various growth tranches that would bring investors value. He completed each of the tranches and was entitled to the pay package.

However, the Delaware Chancery Court decided in January 2024 to rescind the pay package, which Musk had earned, based on a suit filed by a shareholder.

Chancellor Kathaleen McCormick ruled that Tesla’s board lacked independence from Musk when the pay package was approved in 2018, and that it should not be granted.

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She called it “an unfathomable sum.”

In response to the pay package’s rejection by Chancellor McCormick, Tesla held a second shareholder vote last year, which once again showed investors were willing to support Musk’s payday. It was approved by shareholders, but it was once again denied by the court.

Today, Tesla attorneys argued to the Delaware Supreme Court that the pay package should be restored because of last year’s vote by shareholders.

Jeffrey Wall, an attorney for Tesla, said (via Reuters):

“This was the most informed stockholder vote in Delaware history. Reaffirming that would resolve this case. Shareholders in 2024 knew exactly what they were voting.”

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In a response to the decision by the Delaware courts last year, Tesla proposed a new pay package for Musk in September, which would give him a potentially $1 trillion compensation plan. It would require Musk to help Tesla reach several performance-based growth milestones, including achieving an $8.5 trillion market cap.

Elon Musk’s new pay plan ties trillionaire status to Tesla’s $8.5 trillion valuation

Musk is currently worth $483 billion, making him the richest person in the world. If he were to achieve his pay package tranches, granted the new pay package is passed at the Shareholder Meeting in November, he would easily be the first trillionaire.

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