

News
Tesla China sees 12,300 registrations as export fleet clears out at Shanghai port
Tesla China’s new vehicle registrations for the week of March 11-17, 2024, suggest that the electric vehicle maker saw domestic sales of 12,300 last week. Such a result suggests a 6.82% decline from the 13,200 insurance registrations that were tracked during the week of March 4-10, 2024.
Considering Tesla China’s insurance registrations in the week ending March 17, 2024, it would appear that the electric vehicle maker was able to see a total of about 31,000 insurance registrations this month so far, as noted in a CNEV Post report. EV watchers have noted that year-to-date, Tesla China’s numbers are down 3.9%. The drop is steeper at 25.7% quarter-over-quarter, but this is not surprising as Q4 tends to see stronger sales than Q1.
For the week of March 11-17, China reported 12k insurance registrations for Tesla. ??
The quarter is -25.7% QoQ. YTD is at -3.9% YoY. pic.twitter.com/CGawn5x7FS— Roland Pircher (@piloly) March 19, 2024
Interestingly enough, drone footage from the Shanghai Southport Terminal has indicated that Tesla China has been gathering and exporting vehicles abroad as of late. Recent videos from longtime Giga Shanghai watcher Wu Wa have shown that Tesla is currently in the process of clearing out a large number of vehicles from the terminal.
Data from the China Passenger Car Association noted that Tesla China sold 60,365 Giga Shanghai-made vehicles in February 2024, with 30,141 units being delivered domestically and 30,224 being exported abroad. Tesla China’s retail sales in the domestic market were down 11.15% year-over-year in February 2024. However, if one were to look at the January to February period, Tesla China’s domestic sales were up 15.23% at 70,022 units year-over-year.
Again a slight correction to the upside with 12.3k with the Li Auto publication. pic.twitter.com/5OPb3wgmoK— Roland Pircher (@piloly) March 19, 2024
Tesla China’s February results were likely affected by the Chinese New Year holiday, which typically disrupts auto sales. It should be noted that Tesla was not the only automaker that saw a drop in February’s domestic sales. Other local automakers like BYD, Nio, and Xpeng also reported month-over-month and year-over-year sales declines in February 2024.
Tesla China doesn’t disclose weekly domestic sales figures, though new vehicle registration figures could present a general idea of the country’s domestic auto market. Fortunately, industry watchers and competitors like Li Auto have taken it upon themselves to track new vehicle insurance registrations.
Watch a video of Tesla China’s export activities at the Shanghai Southport Terminal below.
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News
Waymo temporarily halts service in select San Francisco and LA areas amid protests
The suspensions came after several Waymo Jaguar I-Pace robotaxis were vandalized and set ablaze during the demonstrations.

Waymo, Alphabet’s autonomous vehicle subsidiary, has suspended its driverless taxi operations in parts of Los Angeles and San Francisco amid violent protests linked to U.S. Immigration and Customs Enforcement (ICE) raids in the state.
The suspensions came after several Waymo Jaguar I-Pace robotaxis were vandalized and set ablaze during the demonstrations.
Waymo Catches Strays Amid Anti-ICE Protests
Protests erupted in Los Angeles and San Francisco in response to the Trump administration’s immigration raids, which ultimately resulted in California Governor Gavin Newsom calling the White House’s deployment of National Guard troops unconstitutional.
Amidst the protests, images and videos emerged showing several Waymo robotaxis being defaced and destroyed. At least five Waymo robotaxis ended up being caught in the crossfire, and at least one vehicle ended up being burned to the ground.
The incident resulted in the Los Angeles Police Department advising people to avoid downtown areas due to toxic fumes from the robotaxis’ burning lithium-ion batteries. As noted in a KRON4 report, Waymo ultimately halted service in affected areas “out of an abundance of caution.”
Robotaxi Sentiments
The cost of the attacks is notable. Each Waymo robotaxi is valued between $150,000 and $200,000, per a 2024 Wall Street Journal report. Interestingly enough, this is not the first time that Waymo’s robotaxis ended up on the receiving end of angry protesters. On February 24, a Jaguar I-PACE robotaxi was set ablaze and vandalized by a crowd in San Francisco. Videos taken at the time showed a mob of people attacking the vehicle.
Despite the recent attacks on its robotaxis, Waymo has stated it has “no reason to believe” its vehicles were specifically targeted during the protests, as per a report from The Washington Post. A company spokesperson also noted that some of the Waymo robotaxis that were defaced and destroyed during the violent demonstrations had been completing drop-offs near the protest zones.
Investor's Corner
xAI targets $5 billion debt offering to fuel company goals
Elon Musk’s xAI is targeting a $5B debt raise, led by Morgan Stanley, to scale its artificial intelligence efforts.

xAI’s $5 billion debt offering, marketed by Morgan Stanley, underscores Elon Musk’s ambitious plans to expand the artificial intelligence venture. The xAI package comprises bonds and two loans, highlighting the company’s strategic push to fuel its artificial intelligence development.
Last week, Morgan Stanley began pitching a floating-rate term loan B at 97 cents on the dollar with a variable interest rate of 700 basis points over the SOFR benchmark, one source said. A second option offers a fixed-rate loan and bonds at 12%, with terms contingent on investor appetite. This “best efforts” transaction, where the debt size hinges on demand, reflects cautious lending in an uncertain economic climate.
According to Reuters sources, Morgan Stanley will not guarantee the issue volume or commit its own capital in the xAI deal, marking a shift from past commitments. The change in approach stems from lessons learned during Musk’s 2022 X acquisition when Morgan Stanley and six other banks held $13 billion in debt for over two years.
Morgan Stanley and the six other banks backing Musk’s X acquisition could only dispose of that debt earlier this year. They capitalized on X’s improved operating performance over the previous two quarters as traffic on the platform increased engagement around the U.S. presidential elections. This time, Morgan Stanley’s prudent strategy mitigates similar risks.
Beyond debt, xAI is in talks to raise $20 billion in equity, potentially valuing the company between $120 billion and $200 billion, sources said. In April, Musk hinted at a significant valuation adjustment for xAI, stating he was looking to put a “proper value” on xAI during an investor call.
As xAI pursues this $5 billion debt offering, its financial strategy positions it to lead the AI revolution, blending innovation with market opportunity.
News
SpaceX to debut new Dragon capsule in Axiom Space launch
Ax-4’s launch marks the debut of SpaceX’s latest Crew Dragon and pushes Axiom closer to building its own space station.

Axiom Space’s Ax-4 mission targets the International Space Station (ISS) with a new SpaceX Crew Dragon capsule.
The Axiom team will launch a new SpaceX Dragon capsule atop a Falcon 9 rocket from NASA’s Kennedy Space Center in Florida on Wednesday at 8:00 a.m. EDT (1200 GMT). The Ax-4 mission launch was initially set for Tuesday, June 10, but was delayed by one day due to expected high winds.
As Axiom Space’s fourth crewed mission to the ISS, Ax-4 marks the debut of an updated SpaceX Crew Dragon capsule. “This is the first flight for this Dragon capsule, and it’s carrying an international crew—a perfect debut. We’ve upgraded storage, propulsion components, and the seat lash design for improved reliability and reuse,” said William Gerstenmaier, SpaceX’s vice president of build and flight reliability.
Axiom Space is a Houston-based private space infrastructure company. It has been launching private astronauts to the ISS for research and training since 2022, building expertise for its future station. With NASA planning to decommission the ISS by 2030, Axiom has laid the groundwork for the Axiom Station, the world’s first commercial space station. The company has already begun construction on its ISS replacement.
The Ax-4 mission’s research, spanning biological, life, and material sciences and Earth observation, will support this ambitious goal. Contributions from 31 countries underscore the mission’s global scope. The four-person crew will launch from Launch Complex 39A, embarking on a 14-day mission to conduct approximately 60 scientific studies.
“The AX-4 crew represents the very best of international collaboration, dedication, and human potential. Over the past 10 months, these astronauts have trained with focus and determination, each of them exceeding the required thresholds to ensure mission safety, scientific rigor, and operational excellence,” said Allen Flynt, Axiom Space’s chief of mission services.
The Ax-4 mission highlights Axiom’s commitment to advancing commercial space exploration. By leveraging SpaceX’s Dragon capsule and conducting diverse scientific experiments, Axiom is paving the way for its Axiom Station. This mission not only strengthens international collaborations but also positions Axiom as a leader in the evolving landscape of private space infrastructure.
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