Connect with us
tesla cybertruck elon musk tesla cybertruck elon musk

News

Tesla’s TX plans opposed by Travis County GOP official: ‘Texans need to stand up to Musk’

Tesla CEO Elon Musk unveils futuristic Cybertruck in Los Angeles, Nov. 21, 2019 (Credit: Teslarati)

Published

on

Tesla’s plans for its Cybertruck Gigafactory in Travis County, Texas have received some strong opposition from Matt Mackowiak, the chairman of the Travis County GOP. In a scathing op-ed posted on The Statesman, Mackowiak urged Texas to “stand up to Musk” citing the CEO’s reputation, SpaceX’s ongoing activities in the state, and the challenges faced by Gigafactory New York. 

Mackowiak warned that Elon Musk has a “spotty” history of seeking subsides, and he voiced his stern opposition to the idea of Texas giving Tesla generous incentive packages. These include $68 million on Tesla’s property tax bill over 10 years and Travis County’s additional $14.65 million in property tax rebates over 10 years. The GOP official argued that New York, which hosted Tesla’s Gigafactory 2 facility, has struggled to bring the economic impact it was intended to bring to the area as well. 

“After spending nearly $900 million on the new factory, a recent audit found that the plant’s value lays around $75 million. The factory found more controversy as it struggled to prove that it had met the site’s hiring criteria. Even worse, the factory is struggling to bring the economic impact it promised to justify the high-priced deal for the state’s taxpayers. The Lone Star State could be looking at millions of dollars in public funds directed away from roads and other local needs to help a company that seems content to abandon its pledges and go wherever the incentives take them,” Mackowiak wrote. 

Mackowiak also argued that SpaceX’s activities in Texas have not been good for the state, since the company has been “spending years causing headaches for the people of South Texas.” The official listed a number of grievances against SpaceX, such as road closures and noise disturbances, which Mackowiak argued disrupted the “once peaceful village of Boca Chica.” In conclusion, the GOP official urged Texans to “stand up to Musk and tell him there will be no corporate subsidies.”

Advertisement

Unfortunately for the vocal Mackowiak, other Texas officials appear to be very welcoming of Tesla. Amidst the company’s troubles with Alameda County last month, Tesla and Elon Musk received open letters of support from Hidalgo County Judge Richard F. Cortez, Governor Greg Abbott, Dallas, TX Mayor Eric Johnson, all of whom invited the electric car maker to set up shop in the Lone Star State. Governor Abbott, for one, specifically emphasized Tesla’s potential tax savings if it moves its headquarters to Texas. 

As for Gigafactory New York, the facility has seen a relatively slow ramp due to the company’s focus on its electric vehicle business, particularly during the Model 3 ramp. However, the facility is ramping now, particularly as Tesla is now looking to expand the reach of its Energy business with its flagship Solarglass Roof V3 tiles. Supercharger V3 stalls, which are also built in Gigafactory New York, are being ramped worldwide as well. This suggests that Tesla’s Buffalo, New York facility will only get even busier in the near future, and it won’t be long before its positive economic impact to the area is felt.

It should also be noted that other states are willing and ready to welcome Tesla and its upcoming Cybertruck Gigafactory. Apart from Texas, Tulsa, Oklahoma is speculated to be shortlisted for the site of the electric pickup’s production plant. Other states such as North Carolina have also expressed interest in hosting the electric car maker’s next US-based manufacturing facility. 

Advertisement

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.

Advertisement
Comments

Investor's Corner

SpaceX gets initial stock coverage from Tesla’s biggest bull

Published

on

SpaceX Starship V3 flight 12
SpaceX Starship V3 flight 12 (Credit: SpaceX)

Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).

Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.

“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”

Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12

Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.

It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”

Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.

There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:

“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”

SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.

Continue Reading

News

Tesla expands massive safety feature worldwide in latest update

Published

on

Credit: Tesla

Tesla has expanded the footprint of a massive safety feature worldwide with a recent Software Update labeled as 2026.20.6. The expansion of the “Blind Spot Warning While Parked” feature represents the more widespread availability of the feature, which aims to prevent “dooring.”

Dooring is when a driver or passenger opens a car door into the path of an oncoming road user, usually a cyclist or motorcyclist. It is among the most common types of cycling accidents, the League of American Bicyclists says.

For this reason, Tesla created a feature that warns occupants not to open the door because an object is approaching. The feature will sound a chime, and it will also delay the opening of the door to prevent an incident.

The release notes state (via Not a Tesla App):

“If you attempt to open a door while an approaching object is detected in your blind spot (for example, a bicyclist approaching from behind) a chime sounds, and your door will not open upon initial button press. Wait a short time and press the button a second time to override the warning.”

Tesla initially rolled out this feature back in 2024 with the Model 3 “Highland.” However, it remained with the Model 3 exclusively for over a year; that was until Tesla added it to the Cybertruck this past Spring.

Now, it is making its way to the new Model Y, 2021 and newer Model S, and 2021 or newer Model X.

The prevention of dooring incidents could eliminate many injuries to cyclists, especially in an urban setting. Dooring accounts for 10-20 percent of bike-related crashes in major cities, and over 17,000 dooring-related incidents were treated in the U.S. over the course of a decade. These usually involve fractures, contusions, and head trauma.

Continue Reading

News

Tesla sends production Cybercab with no steering wheel, pedals to on-road testing

Published

on

Credit: Tesla

Tesla confirmed this morning that it has sent the first production units, manufactured with no steering wheel or pedals, to on-road testing in Austin, sharing video of the first rides with no human controls.

The lack of steering wheels and pedals in the Cybercab aligns with Tesla’s self-certification of Robotaxi as Level 4 SAE, a platform it plans to make widespread through internal vehicles and customer-owned cars that will operate and generate revenue for individuals.

The start of these engineering tests is a major signal for Tesla, which plans to bring driverless, wheel-less, and pedal-less Cybercabs to market in the coming months. With production already well underway at Gigafactory Texas, where the Cybercab is built, there is some inclination to believe the first public rides could happen sooner rather than later.

Tesla’s engineering tests will put the Cybercab in real-world scenarios, testing not only the hardware, but more importantly, the software that drives the car around Austin with nobody supervising it within the car.

This is perhaps the biggest part of the internal testing process, especially prior to allowing regular, everyday people to hail the Cybercab for an autonomous ride. These early rides serve as a true benchmark for Tesla: How many rides can it achieve safely? How many miles did it travel consecutively without needing an intervention? What scenarios challenge the Full Self-Driving suite the most?

The proper precautions have already been put into place as well, as Tesla released the First Responders Guide to Cybercab over the weekend, ensuring that emergency services have 24/7 access to Robotaxi Assistance, as well as other boundaries, such as Geofencing features that can be used to redirect autonomous vehicle traffic due to accidents, road closures, construction, or maintenance.

Cybercab seems genuinely close to being added to the Robotaxi fleet in Austin, but Tesla has prioritized safety throughout this entire process. Therefore, we think it could be months before it truly starts giving rides to the public. People have been frustrated with this, but Robotaxi in Austin has a tremendous safety record so far, so the slow rollout has kept people safe and accidents to a minimum.

The most important thing is that Tesla continues to show consistent progress in the Cybercab’s ramp-up toward fleet addition. A few weeks back, we saw the EPA reward the Cybercab a Certificate of Conformity, allowing it to enter the stream of commerce. Then, we saw Tesla add decals, signaling that it was likely about to start testing it publicly. That has now happened.

The next big move will be the announcement of the first rides, so this Summer should be filled with anticipation.

Continue Reading