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SpaceX to double the size of Starlink Bastrop production facility

Credit: SpaceX

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Starlink is steadily becoming one of SpaceX’s largest businesses, so much so that Elon Musk has stated that the satellite internet service is how “we are paying for humanity to get to Mars.” 

It is then no surprise that SpaceX has dedicated a notable amount of resources to ensure that Starlink can be produced in higher volumes.

Starlink’s 2024 milestones:

  • Starlink had a stellar 2024. To help ramp the production of the satellite internet system, SpaceX opened a new 700,000 square foot factory in Bastrop, Texas. 
  • The introduction of Starlink Mini changed the game of portable internet systems by offering reliable, high-speed connectivity in a sleek, lightweight package.
  • As per Starlink’s 2024 Progress Report, the Bastrop facility quickly scaled to produce 70,000 customer kits a week locally and 110,000 across the United States.
  • This equates to a capacity of 5.5 million Starlink units per year.
  • Across all production facilities, SpaceX produced and sold 3.9 million customer Starlink kits in 2024.
  • This also resulted in the Starlink Bastrop facility emerging as a leading hub for printed circuit board (PCB) production.

Looking forward:

  • SpaceX is now looking to double the size of its Bastrop production facility this coming 2025. 
  • As per the 2024 Starlink Progress Report:
  • “To further strengthen its production scalability, SpaceX is more than doubling the size of its Bastrop production facility (opening in 2025). This will add production capability of millions of customer kits each year to meet the growing demand for high-speed, low-latency internet from space that people can take with them wherever they go.”

What they are saying:

  • Elon Musk congratulated the SpaceX team for Starlink’s milestones this 2024. 
  • “Great work by the SpaceX team building the highest volume advanced electronics manufacturing system in America!” Musk wrote in a post on social media platform X.

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Elon Musk

Tesla investors demand 40-hour workweek from Elon Musk

Pension fund leaders push the Tesla board to require 40 hrs/wk from Elon Musk. Should Tesla enforce this? Or simply trust Musk?

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Wcamp9, CC BY 4.0 , via Wikimedia Commons

Pension fund leaders with Tesla investments are urging the company’s board to mandate Elon Musk dedicate at least 40 hours per week to the electric vehicle maker, citing a looming crisis.

The group holds a combined 7.9 million TSLA shares and expressed alarm over Tesla’s challenges in a Wednesday letter to board chair Robyn Denholm.

“Tesla’s stock price volatility, declining sales, as well as disconcerting reports regarding the company’s human rights practices, and a plummeting global reputation are cause for serious concern,” the investors wrote.

https://www.teslarati.com/tesla-elon-musk-explains-25-percent-voting-share-tsla/

They attributed many issues to Musk’s external activities, including his role in the U.S. Department of Government Efficiency (DOGE). The pension fund leaders criticized the board for failing to ensure Musk’s “full-time attention” on Tesla. The group includes the SOC Investment Group, the American Federation of Teachers, New York City Comptroller Brad Lander, and Oregon State Treasurer Elizabeth Steiner.

The investors’ letter comes as the Tesla board plans for Elon Musk’s next compensation plan, following the Delaware Court of Chancery’s 2023 ruling to rescind his $56 billion 2018 package. Besides a 40-hour workweek requirement, they also called for a clear succession plan and limits on directors’ external board commitments to strengthen governance. The letter highlighted concerns about board independence. Tesla recently added former Chipotle CFO Jack Hartung, who previously worked with Musk’s brother, Kimbal Musk, as a Tesla board member.

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The group’s letter reveals where the position of some investors as Elon Musk forges ahead with Tesla’s future plans. Musk’s broader ambitions for Tesla were evident during the Q4 and FY 2023 earnings call, where he envisioned the company as an AI and robotics powerhouse with “truly immense capability and power.” He emphasized his desire for 25% voting control to maintain influence without complete control.

“You know, we’ve had a lot of challenges with Institutional Shareholder Services, ISS — I call them ISIS — and Glass Lewis, you know, which there’s a lot of activists that basically infiltrate those organizations and have strange ideas about what should be done,” Musk said.

As Musk plans to focus more on Tesla, alongside xAI and SpaceX, the investors’ demands underscore tensions between his expansive vision and shareholder expectations. With Tesla navigating stock volatility and reputational challenges, the board faces pressure to align Musk’s leadership with the company’s long-term stability.

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Investor's Corner

Tesla analyst’s firm has sold its entire TSLA position: Here’s why

Tesla analyst Gary Black revealed his firm, The Future Fund, has sold their entire $TSLA holding.

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tesla showroom
(Credit: Tesla)

Tesla analyst Gary Black of The Future Fund revealed today that his firm has sold its entire $TSLA holding, marking the first time since 2021 that it has not had a position in the company’s stock.

Black has been a skeptic of the company and relatively pessimistic regarding some things many investors would consider catalysts, outlining his concerns and reasoning for selling the shares.

Much of Black’s reasoning concerns Tesla’s price-to-earnings ratio, delivery results and potential delivery figures for the future, and other near-term projects that he does not believe will yield as much value as others perceive.

We will break down each concern of Black’s below:

‘Disconnected from Underlying Fundamentals’

Black says that The Future Fund sold its holdings at $358 per share. The firm’s current price target is at $310, and he says it will remain there based on “our forecast of 2030 Tesla volumes of 5.4m and 2030 Adj EPS of $12.

Main Concern is P/E Ratio

The main concern Black and The Future Fund have is that TSLA “now sells at a 2025 P/E of 188x as earnings estimates continue to fall (-5% in the past week, -40% YTD) driven by weak YTD deliveries, including weak April results.”

Black says he believes quarterly deliveries will decline by 12 percent, and full-year by 10 percent.

This compares to Wall Street’s estimates of a 7 percent decrease for Q2 and a 5 percent year-over-year.

Robotaxi Skepticism

“We believe the risk/reward associated with the Austin robotaxi test remain asymmetrical to the downside,” Black writes in his post on X.

Tesla Robotaxi deemed a total failure by media — even though it hasn’t been released

Many believe the Robotaxi platform could be Tesla’s biggest catalyst moving forward, especially as other automakers do not seem to have even close to as robust a solution to self-driving as Tesla.

Tesla’s Affordable Models

Black says there are concerns the affordable model will be “a stripped-down Model Y priced lower and funded by lower costs rather than a new form factory that expands TAM.”

This is confusing, especially considering the cheaper price tag would expand the total addressable market (TAM) to begin with. The Model Y has been the best-selling vehicle in the world for the past two years.

Tesla still on track to release more affordable models in 1H25

Introducing an even lower-cost model with some missing features would still likely be a significantly more attractive option than a base model ICE vehicle, especially because the value Full Self-Driving provides would make the car more beneficial.

“This increases odds that FY’25 estimates decline further, risking a repeat of 2023-2024, when TSLA reduced EV prices supported by lower costs, and TSLA saw little or no incremental volume growth,” he finishes with.

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Tesla gets major upgrade that Apple users will absolutely love

Tesla is unloading a new feature for iPhone users that they will absolutely love.

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tesla app
Credit: Tesla Inc.

Tesla is giving its owners who use iPhones and the iOS platform a major upgrade that will make the vehicles more compatible with the current capabilities of Apple devices.

Much to the chagrin of Android users, Apple iPhone users who own Teslas are usually the first to get new features.

However, Tesla is rolling out a new feature to iPhone users that will only be available to them, as Live Update compatibility is now rolling out.

Live Updates on the iPhone allow users to track the progress of tasks while using other apps. For example, uploading a post on X can be tracked while using an internet browser, as the Dynamic Island, the small display near the speaker on an iPhone, will show progress.

Tesla will now do this for Supercharging, a new update shows. The Dynamic Island is not the only thing that will monitor the progress of Supercharging, though. Updates will also be visible on the lock screen and as a drop-down notification:

You will need iOS 17.2 or newer to use this feature.

The Supercharging updates will show the current State of Charge (SoC), time remaining, and price of the current session. These notifications will make the charging process easier when you’re not inside your Tesla, as many Superchargers are located in retail settings.

You’ll be able to monitor the price and time remaining with a quick glance at your phone.

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