News
“Boring” EQC fails to provide Mercedes-Benz with EV momentum
The Mercedes-Benz EQC was supposed to be the German automaker’s answer to Tesla’s emergence as the dominant force in electric transportation. After an introduction that could only be described as a disappointment, Mercedes’ parent company Daimler’s Shareholder meeting on Wednesday revealed how some investors felt about the EQC’s underwhelming performance.
“Too late, too expensive, and too boring,” Speich said about the EQC, which has had less-than-desirable sales figures, according to the German Federal Motor Transport Authority.
In 2019, only 397 units of the EQC were sold, and as of May 28, 2020, an additional 276 have been sold. The combination of these two figures is indicative of less than 700 units sold since the vehicle’s launch in late 2019.
2019 was a rough year for Daimler, and the EQC undoubtedly contributed to the struggles the automaker felt over the previous twelve months. Deka Investment, which holds about 5.4 million shares of Daimler stock, was vocal when the EQC came to light during the Shareholder meeting.
The all-electric EQC was released last year, and Deka’s Head of Sustainability and Corporate Governance Ingo Speich had prepared remarks that broke down the disappointing performance of the car, Yahoo reported.
Not all is bad for Mercedes-Benz, though. The company’s deliveries in China climbed to a record in Q2 2020, and truck and global car sales rose in June compared to the same month in 2019. The company did state that it will not turn a profit in the quarter due to the coronavirus, which halted the automaker’s momentum that included a plan to implement “thousands” of efficiency measures, according to Daimler CEO Ola Kallenius.
“Our previous efficiency goals covered the upcoming transformation, but not a global recession,” Kallenius said. “Daimler can do better, and we are determined to deliver.”
Mercedes will unveil the compact EQA electric car later this year, Kallenius said. The luxury car company will also offer five electric models and more than 20 plug-in hybrids by the end of the year. The push toward electrification is geared toward meeting strict European emissions rules in 2020 and 2021. Kallenius stated that reaching the CO2 limits will be “challenging.”
Daimler shares have declined by 24% so far in 2020, giving the company a market cap of €40 billion, or $45.3 billion. This figure is less than 20% of Tesla’s $257.26 billion market cap.
Daimler also announced a restructuring plan in November that foresaw the elimination of more than 10,000 jobs worldwide. The move will save the company €1.4 billion, or $1.58 billion in personnel spending by 2022.
Although the EQC did not live up to the hype that Mercedes-Benz expected, there is still hope. With the German automaker planning to produce several more fully-electric models and a broad spectrum of hybrid vehicles in the future, the push toward a sustainable fleet is still within reason. Mercedes has a long history of manufacturing luxury automobiles, and shifting to electric transportation presents a variety of exciting challenges that have stumped some of the biggest car companies in the world, like Volkswagen.
There is room for improvement, but the EQC is not necessarily an indicator of what Mercedes-Benz has to offer. The company must learn from the underwhelming performance of the EQC and push for the development of more advanced EV technologies for its future models.
Elon Musk
Celebrating SpaceX’s Falcon Heavy Tesla Roadster launch, seven years later (Op-Ed)
Seven years later, the question is no longer “What if this works?” It’s “How far does this go?”
When Falcon Heavy lifted off in February 2018 with Elon Musk’s personal Tesla Roadster as its payload, SpaceX was at a much different place. So was Tesla. It was unclear whether Falcon Heavy was feasible at all, and Tesla was in the depths of Model 3 production hell.
At the time, Tesla’s market capitalization hovered around $55–60 billion, an amount critics argued was already grossly overvalued. SpaceX, on the other hand, was an aggressive private launch provider known for taking risks that traditional aerospace companies avoided.
The Roadster launch was bold by design. Falcon Heavy’s maiden mission carried no paying payload, no government satellite, just a car drifting past Earth with David Bowie playing in the background. To many, it looked like a stunt. For Elon Musk and the SpaceX team, it was a bold statement: there should be some things in the world that simply inspire people.
Inspire it did, and seven years later, SpaceX and Tesla’s results speak for themselves.
Today, Tesla is the world’s most valuable automaker, with a market capitalization of roughly $1.54 trillion. The Model Y has become the best-selling car in the world by volume for three consecutive years, a scenario that would have sounded insane in 2018. Tesla has also pushed autonomy to a point where its vehicles can navigate complex real-world environments using vision alone.
And then there is Optimus. What began as a literal man in a suit has evolved into a humanoid robot program that Musk now describes as potential Von Neumann machines: systems capable of building civilizations beyond Earth. Whether that vision takes decades or less, one thing is evident: Tesla is no longer just a car company. It is positioning itself at the intersection of AI, robotics, and manufacturing.
SpaceX’s trajectory has been just as dramatic.
The Falcon 9 has become the undisputed workhorse of the global launch industry, having completed more than 600 missions to date. Of those, SpaceX has successfully landed a Falcon booster more than 560 times. The Falcon 9 flies more often than all other active launch vehicles combined, routinely lifting off multiple times per week.
Falcon 9 has ferried astronauts to and from the International Space Station via Crew Dragon, restored U.S. human spaceflight capability, and even stepped in to safely return NASA astronauts Butch Wilmore and Suni Williams when circumstances demanded it.
Starlink, once a controversial idea, now dominates the satellite communications industry, providing broadband connectivity across the globe and reshaping how space-based networks are deployed. SpaceX itself, following its merger with xAI, is now valued at roughly $1.25 trillion and is widely expected to pursue what could become the largest IPO in history.
And then there is Starship, Elon Musk’s fully reusable launch system designed not just to reach orbit, but to make humans multiplanetary. In 2018, the idea was still aspirational. Today, it is under active development, flight-tested in public view, and central to NASA’s future lunar plans.
In hindsight, Falcon Heavy’s maiden flight with Elon Musk’s personal Tesla Roadster was never really about a car in space. It was a signal that SpaceX and Tesla were willing to think bigger, move faster, and accept risks others wouldn’t.
The Roadster is still out there, orbiting the Sun. Seven years later, the question is no longer “What if this works?” It’s “How far does this go?”
Energy
Tesla launches Cybertruck vehicle-to-grid program in Texas
The initiative was announced by the official Tesla Energy account on social media platform X.
Tesla has launched a vehicle-to-grid (V2G) program in Texas, allowing eligible Cybertruck owners to send energy back to the grid during high-demand events and receive compensation on their utility bills.
The initiative, dubbed Powershare Grid Support, was announced by the official Tesla Energy account on social media platform X.
Texas’ Cybertruck V2G program
In its post on X, Tesla Energy confirmed that vehicle-to-grid functionality is “coming soon,” starting with select Texas markets. Under the new Powershare Grid Support program, owners of the Cybertruck equipped with Powershare home backup hardware can opt in through the Tesla app and participate in short-notice grid stress events.
During these events, the Cybertruck automatically discharges excess energy back to the grid, supporting local utilities such as CenterPoint Energy and Oncor. In return, participants receive compensation in the form of bill credits. Tesla noted that the program is currently invitation-only as part of an early adopter rollout.
The launch builds on the Cybertruck’s existing Powershare capability, which allows the vehicle to provide up to 11.5 kW of power for home backup. Tesla added that the program is expected to expand to California next, with eligibility tied to utilities such as PG&E, SCE, and SDG&E.
Powershare Grid Support
To participate in Texas, Cybertruck owners must live in areas served by CenterPoint Energy or Oncor, have Powershare equipment installed, enroll in the Tesla Electric Drive plan, and opt in through the Tesla app. Once enrolled, vehicles would be able to contribute power during high-demand events, helping stabilize the grid.
Tesla noted that events may occur with little notice, so participants are encouraged to keep their Cybertrucks plugged in when at home and to manage their discharge limits based on personal needs. Compensation varies depending on the electricity plan, similar to how Powerwall owners in some regions have earned substantial credits by participating in Virtual Power Plant (VPP) programs.
News
Samsung nears Tesla AI chip ramp with early approval at TX factory
This marks a key step towards the tech giant’s production of Tesla’s next-generation AI5 chips in the United States.
Samsung has received temporary approval to begin limited operations at its semiconductor plant in Taylor, Texas.
This marks a key step towards the tech giant’s production of Tesla’s next-generation AI5 chips in the United States.
Samsung clears early operations hurdle
As noted in a report from Korea JoongAng Daily, Samsung Electronics has secured temporary certificates of occupancy (TCOs) for a portion of its semiconductor facility in Taylor. This should allow the facility to start operations ahead of full completion later this year.
City officials confirmed that approximately 88,000 square feet of Samsung’s Fab 1 building has received temporary approval, with additional areas expected to follow. The overall timeline for permitting the remaining sections has not yet been finalized.
Samsung’s Taylor facility is expected to manufacture Tesla’s AI5 chips once mass production begins in the second half of the year. The facility is also expected to produce Tesla’s upcoming AI6 chips.
Tesla CEO Elon Musk recently stated that the design for AI5 is nearly complete, and the development of AI6 is already underway. Musk has previously outlined an aggressive roadmap targeting nine-month design cycles for successive generations of its AI chips.
Samsung’s U.S. expansion
Construction at the Taylor site remains on schedule. Reports indicate Samsung plans to begin testing extreme ultraviolet (EUV) lithography equipment next month, a critical step for producing advanced 2-nanometer semiconductors.
Samsung is expected to complete 6 million square feet of floor space at the site by the end of this year, with an additional 1 million square feet planned by 2028. The full campus spans more than 1,200 acres.
Beyond Tesla, Samsung Foundry is also pursuing additional U.S. customers as demand for AI and high-performance computing chips accelerates. Company executives have stated that Samsung is looking to achieve more than 130% growth in 2-nanometer chip orders this year.
One of Samsung’s biggest rivals, TSMC, is also looking to expand its footprint in the United States, with reports suggesting that the company is considering expanding its Arizona facility to as many as 11 total plants. TSMC is also expected to produce Tesla’s AI5 chips.
Celebrating SpaceX’s Falcon Heavy Tesla Roadster launch, seven years later (Op-Ed)
SpaceX’s xAI merger keeps legal liability and debt at arm’s length: report
