News
Rocket Lab reports results for Q3 2023
Rocket Lab’s (NASDAQ: RKLB) Q3 results are out and revealed they are still looking good financially despite the launch failure that occurred in September.
During the call, it was revealed that the launch failure investigation was able to determine the cause and that they have scheduled the next launch with the window opening on November 28th and extending into December.
Rocket Lab ended Q3 with two successful launches, recoveries, the first use of a flight-proven engine, and $374 million in cash and cash equivalents.
Regarding the failure, the company announced that in the 1.6 seconds of data received from Electron, they were able to determine an electrical arc that caused power to be cut from the battery packs, a phenomenon known as “Paschen’s Law – where the ability of
electrical arcs to form is greatly exacerbated in a partial vacuum”.
Corrections are in work with the investigation to be officially closed in the coming weeks. Fixes include ensuring better insulation and fully enclosing/pressurizing the power supply system to prevent a repeat on future missions.
Looking ahead into 2024, Rocket Lab shared they have 22 launches on their current schedule with a breakdown of 9 missions that will recover the first stage, 11 standard missions, and 2 HASTE missions.
The call also yielded a few updates on the company’s Neutron rocket. The stage 2 structural & cryogenic test was completed successfully, with the test article able to withstand 7x atmospheric pressure before it was intentionally overpressurized to find the tank’s limits. The company will conduct another 2nd stage tank test in the first half of 2024.
As part of structural testing we push our tanks to Maximum Expected Operating Pressure (MEOP)…and far beyond. It’s always fun to round out an intensive test campaign with a bang!
Armed with a wealth of data from this campaign, the next Neutron stage 2 tank is progressing at… https://t.co/Zk0ePk8TIU pic.twitter.com/2BqJjBOASQ
— Rocket Lab (@RocketLab) October 4, 2023
The engine that will power Neutron, Archimedes, is undergoing its own tests, including combustion testing, to ensure correct ratios of methane and liquid oxygen in flight-like situations. The company is also making progress on the test stand at NASA’s Stennis Space Center, where Archimedes will conduct full-scale engine tests.
Overall, despite the Electron launch failure, Rocket Lab looks poised to move forward with a busy 2024 and further advancements of their Neutron rocket, getting it closer to its maiden launch.
Disclosure: Richard Angle is not an RKLB shareholder.
Questions or comments? How do you think Rocket Lab will do in 2024? Shoot me an email at rangle@teslarati.com, or Tweet me @RDAnglePhoto.
Elon Musk
Elon Musk estimates Tesla Semi could reach Europe next year
“We’ve got the Tesla Semi coming out, the heavy truck, and that’ll be going to Europe hopefully next year,” Musk said.
Tesla is preparing to expand its all-electric Semi truck program to Europe, with CEO Elon Musk indicating that the Class 8 vehicle could arrive in the region 2027.
Musk shared his update during an interview about Giga Berlin with plant manager André Thierig, which was posted on X by the official Tesla Manufacturing account.
“We’ve got the Tesla Semi coming out, the heavy truck, and that’ll be going to Europe hopefully next year,” he said.
Tesla has already begun limited production and customer deployments of the Tesla Semi in the United States, with the company working to scale output through the Semi factory near Giga Nevada. Considering Musk’s comments, it appears that a European rollout would be the next phase of the vehicle’s expansion beyond North America.
Musk’s use of the word “hopefully” leaves room for flexibility, but the remark signals that Europe is next in Tesla’s commercial expansion plans.
Musk has consistently argued that electrification should extend beyond passenger vehicles. During the same interview, he reiterated his view that “all ground transport should be electric,” adding that ships, and eventually aircraft, would follow.
The Semi plays a central role in that strategy. Heavy-duty freight remains one of the most emissions-intensive segments of road transport, and European regulators have increasingly pushed for lower-emission commercial fleets.
Tesla recently refreshed the Semi lineup on its official website, listing two variants: Standard and Long Range. The Standard trim offers up to 325 miles of range with an energy consumption rating of 1.7 kWh per mile, while the Long Range version provides up to 500 miles, which should be more than ample for European routes.
Elon Musk
Tesla Cybercab coming next to Giga Berlin, Optimus possibly after
“From a next major product standpoint, I think most likely is the Tesla Cybercab,” Musk said.
Tesla could add the Cybercab and Optimus humanoid robot to the production lineup at Giga Berlin, as per recent comments from CEO Elon Musk.
During a recent interview with Giga Berlin plant manager André Thierig, Musk identified the Cybercab as the most likely next major product for the German factory, with Optimus potentially following after.
“From a next major product standpoint, I think most likely is the Tesla Cybercab,” Musk said. He added that there are also “possibilities of Tesla Optimus” being produced in the facility.
Tesla has already begun production of the Cybercab in Giga Texas, with volume production expected to ramp this year. Based on Musk’s comments, it appears that if conditions align in Europe, Giga Berlin could eventually join that effort.
The CEO’s comments about Optimus coming to Gigafactory Berlin are quite unsurprising too considering that Musk has mentioned in the past that the humanoid robot will likely be Tesla’s highest volume product in the long run.
Giga Berlin will likely be able to produce mass volumes of Optimus, as the Model S and Model X lines being converted to an Optimus line in the Fremont Factory are already expected to produce 1 million units of the humanoid robot annually.
Apart from his comments about the Cybercab and Optimus, Elon Musk also confirmed that Giga Berlin has started ramping battery cell production and will continue expanding Model Y output, particularly as supervised Full Self-Driving (FSD) gains regulatory approvals in Europe.
Taken together, the remarks suggest Berlin’s role could evolve beyond vehicle assembly into a broader multi-product manufacturing hub, not just a regional Model Y plant.
Energy
Tesla Powerwall distribution expands in Australia
Inventory is expected to arrive in late February and official sales are expected to start mid-March 2026.
Supply Partners Group has secured a distribution agreement for the Tesla Powerwall in Australia, with inventory expected to arrive in late February and official sales beginning in mid-March 2026.
Under the new agreement, Supply Partners will distribute Tesla Powerwall units and related accessories across its national footprint, as noted in an ecogeneration report. The company said the addition strengthens its position as a distributor focused on premium, established brands.
“We are proud to officially welcome Tesla Powerwall into the Supply Partners portfolio,” Lliam Ricketts, Co-Founder and Director of Innovation at Supply Partners Group, stated.
“Tesla sets a high bar, and we’ve worked hard to earn the opportunity to represent a brand that customers actively ask for. This partnership reflects the strength of our logistics, technical services and customer experience, and it’s a win for installers who want premium options they can trust.”
Supply Partners noted that initial Tesla Powerwall stock will be warehoused locally before full commercial rollout in March. The distributor stated that the timing aligns with renewed growth momentum for the Powerwall, supported by competitive installer pricing, consumer rebates, and continued product and software updates.
“Powerwall is already a category-defining product, and what’s ahead makes it even more compelling,” Ricketts stated. “As pricing sharpens and capability expands, we see a clear runway for installers to confidently spec Powerwall for premium residential installs, backed by Supply Partners’ national distribution footprint and service model.”
Supply Partners noted that a joint go-to-market launch is planned, including Tesla-led training for its sales and technical teams to support installers during the home battery system’s domestic rollout.