News
Tesla revenue from NZ EV rebates hint at potential IRA benefits [Feature]
Tesla doubled its revenue after New Zealand’s Clean Car policy introduced rebates to decarbonize its fleet. Tesla New Zealand’s revenue hints at the potential benefits of the United States Inflation Reduction Act (IRA).
According to the company’s financial records, Tesla New Zealand’s (NZ) revenue for the 2022 calendar year was $499.5 million (USD$303.3), double the company’s $230.7 million (USD$140.1) revenue in 2021. New Zealand’s acting Transport Minister Kieran McAnulty believes the government’s Clean Car policy helped Tesla’s revenues double.
“With over 100,000 rebates granted since the scheme came into effect in 2021, we have one of the fastest uptakes of EVs in the world,” McAnulty said.
Tesla New Zealand’s revenues in the past show an increase in EV adoption. Tesla NZ’s revenue in 2020 was $66 million (USD$40 million) and increased to $230.7 million (USD$ 140.1 million) in 2021. Tesla Giga Shanghai definitely factors into the company’s increased revenues in New Zealand and Australia between 2020 and 2021. However, the New Zealand government’s EV rebates might have aided Tesla’s leap from $230.7 million to $499.5 million between 2021 and 2022.

“The cost of EVs has reduced significantly over the past couple of years. Several popular models are now available for $50,000 to $60,000, whereas previously EVs tended to be closer to $80,000. Rebates for used-import EVs will rise from $3450 to $3507.50 – as the supply of used-import EVs remains restricted. The increased rebates will encourage suppliers to continue to focus on securing supply for New Zealanders,” McAnulty commented.
The New Zealand Herald analyzed data that revealed Tesla benefited significantly from Clean Car policy rebates. Since 2021 when the policy began, 9,730 Teslas were purchased for a total of $83 million (USD$ 50.4 million) rebates paid to the people who bought the electric vehicles (EVs).
New Zealand’s government plans to update its Clean Car policy this year. The update will reduce rebates offered for new zero-emission vehicles—described as electric vehicles by the government—from $8,625 (USD$5238) to $7,015 (USD$4,260). New Zealand also changed rebates offered for used imports and disability vehicles while applying charges for specific emissions. New Zealand’s Clean Car Policy changes will apply from July 1, 2023.
The Inflation Reduction Act’s Potential Impact
New Zealand’s Clean Car Policy hints that people are willing to transition to electric vehicles for the right price. The Inflation Reduction Act (IRA) might yield the same results for Tesla and other EV manufacturers in the United States.
Elon Musk and the Tesla board seem well aware of the IRA’s potential impact on the electric vehicle and global auto market.
“The regulations here are still in flux and there continues to be updates, so this is just our best understanding at the moment. But we think on the order of $150 million to $250 million per quarter this year and growing over the course of the year as our volumes grow,” said Tesla’s Chief Financial Officer Zachary Kirkhorn at the Q4 2022 earnings call.
The IRA doesn’t just affect local automakers and their suppliers either. Companies worldwide involved in EV manufacturing or its supply chain have started investing in the United States to reap the benefits of the IRA. For instance, South Korean battery supplier LG Energy Solutions (LGES) has partnered with a few automakers to build cell manufacturing plants in the United States. LGES has battery plant agreements with Hyundai, Honda, and Ford. Tesla is prepared to take advantage of the IRA’s incentives as well.
“And part of the work we’re doing here, which is part of what this incentive package is trying to incentivize, is, as Elon mentioned, to move more manufacturing onshore in the United States, which is Tesla’s plans anyways. And so, I think we’re pretty well positioned over the coming years to take advantage of this.
“But then also part of what the goal of this incentive package is, is to improve adoption from our customers. And so, we also want to use these incentives to improve affordability as we think about what the price points are in our products going forward,” stated Kirkhorn.
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News
NASA taps SpaceX for more astronaut missions as Boeing Starliner remains grounded
NASA just gave SpaceX a $946 million contract for three more astronaut missions through 2030.
NASA has awarded SpaceX a $946 million contract modification covering three more astronaut missions to the International Space Station, according to an announcement the agency published Friday. The award adds Crew-15, Crew-16, and Crew-17 to SpaceX’s existing Commercial Crew Transportation Capability contract, bringing the agreement’s total value to $5.92 billion across 17 flights.
SpaceX confirmed the award on X, writing that it was excited for Falcon 9 and Dragon to launch NASA’s Crew-15, 16, and 17 missions to the Space Station from Florida. The new missions cover ground, launch, in orbit, and return operations, along with cargo transport and a lifeboat capability while docked at the station, and the period of performance runs through 2030.
We’re excited for Falcon 9 and Dragon to launch @NASA’s Crew-15, 16, and 17 missions to the @Space_Station from Florida https://t.co/Qm16vVK9F3 pic.twitter.com/drg3s7GtuM
— SpaceX (@SpaceX) September 18, 2026
The award follows a notice of intent NASA issued in May, when the agency first signaled it would purchase up to six additional post certification missions from SpaceX. Teslarati covered that filing at the time, noting NASA cited technical issues and schedule delays encountered by Boeing as a driving factor. Friday’s contract modification locks in three of those six missions, with the remaining three left open for NASA to award later, potentially to Boeing if Starliner clears certification.
Boeing’s CST-100 Starliner has still not flown an operational crew rotation mission for NASA. The spacecraft’s most recent crewed test flight in 2024 ended without the astronauts returning aboard Starliner, and the company has spent the time since working through thruster problems. SpaceX President Gwynne Shotwell said this week that SpaceX is not retiring Crew Dragon today, for sure, while stopping short of committing to fly it past 2030.
Crew-12 is currently docked at the space station, and NASA has said Crew-13 is targeting a launch in the coming weeks. The newly awarded Crew-15 through Crew-17 missions extend SpaceX’s role as NASA’s primary way of getting astronauts to and from orbit well into the back half of the decade, regardless of what happens with Starliner or Starship in the meantime.
Investor's Corner
New drone video shows Tesla’s Optimus Factory reaching a turning point
New drone footage shows Tesla’s dedicated Optimus factory steel frame nearing completion at Giga Texas.
Tesla’s dedicated Optimus factory at Gigafactory Texas is closing in on a finished steel frame, according to drone footage posted Thursday afternoon by longtime site observer Joe Tegtmeyer. In the video, Tegtmeyer said structural steel assembly is now about five column grids away from reaching the building’s north perimeter beam, putting the primary skeleton in its final stretch roughly six months after Tesla broke ground on the North Campus site in late March.
The Giga Texas Optimus Factory latest update … construction keeps moving fast!
Steel assembly is now only about 5 column grids from the north perimeter beam. Concrete is going in on the three upper floors, rebar is still being laid for more pours, and footing / grade-beam work… pic.twitter.com/qvFPvwnYzW
— Joe Tegtmeyer 🚀 🤠🛸😎 (@JoeTegtmeyer) September 17, 2026
Tegtmeyer’s footage shows concrete already going in on three upper floors while crews continue laying rebar and pouring grade beam footings at ground level. That kind of parallel work, steel rising at one end of the site while concrete sets at the other, is a scheduling approach Tesla used at the original Giga Texas building and appears to be repeating here to save time before the plant’s targeted 2027 production start.
Teslarati has tracked the building’s progress since Tesla confirmed construction was officially underway in May, when the first steel structure went up on what was then bare, reclaimed land. The facility is part of a more than 5.2 million square foot expansion of Giga Texas’s North Campus that Tesla has said will eventually run nearly the length of the existing vehicle factory, over 4,000 feet, while sitting somewhat narrower. Musk has pegged the long term output target at 10 million Optimus units a year once the line is running at full capacity, a volume that would dwarf the one million unit pilot line Tesla is standing up separately at its Fremont, California factory.
Tesla Giga Texas to feature massive Optimus V4 production line
The Texas facility sits alongside another major buildout on the same campus. Terafab, the joint Tesla and SpaceX chip fabrication plant that will eventually supply the silicon running Optimus units in the field. Housing robot assembly and chip production on the same grounds is a deliberate supply chain decision, cutting down on the shipping and lead time that would otherwise sit between the two.
Tesla has not given an updated timeline beyond its previously stated goal of bringing high volume Optimus production online at the site in the summer of 2027. Fremont’s smaller pilot line began mass producing the current Gen 3 robot in January, with that plant expected to build tens of thousands of units this year primarily to generate the real world data Tesla needs to refine the robot’s software before Giga Texas ramps up. Six months of visible construction progress, tracked almost entirely through Tegtmeyer’s recurring drone flights, gives the clearest outside look yet at how seriously Tesla is treating that 2027 deadline.
Investor's Corner
Tesla and SpaceX take “Terafab” Trademark fight to Federal Court
Tesla and SpaceX sue a small Illinois firm after cease and desist letters over Terafab.
Tesla and SpaceX are asking a federal judge to rule that their planned Terafab chip factory does not infringe a small Illinois company’s trademark, a request that arrives only after months of quiet negotiation broke down this summer.
The dispute traces to May 18, when Tesla filed three U.S. trademark applications for “Terafab” and “Tesla Terafab,” covering semiconductor chips and related chip making services. TERA-print LLC, a nanotechnology company that has held a federal trademark for “Tera-Fab” since 2021, responded five days later with a cease and desist letter. According to the lawsuit, first reported by Reuters, TERA-print argued that Tesla and SpaceX’s use of “Terafab” would confuse consumers familiar with its own trademark, which covers a desktop photolithography printer sold to researchers for sensor and bioengineering work.
What stands out in the filing is the timing of TERA-print’s own paperwork. One day before sending that cease and desist letter, on May 22, TERA-print applied to expand its existing registration to cover semiconductor materials, silicon chips, nanoelectronic devices and AI design services, categories it had not previously claimed. Tesla and SpaceX call that filing opportunistic in their complaint, noting it arrived two months after Tesla’s public Terafab announcement and just days after Tesla’s own trademark applications went in.
Elon Musk launches TERAFAB: The $25B Tesla-SpaceXAI chip factory that will rewire the AI industry
By June 10, TERA-print was threatening to sue for federal trademark infringement, false designation of origin and unfair competition, the complaint states. Rather than wait to be sued, Tesla, SpaceX and SpaceXAI met with TERA-print six separate times between June and August trying to resolve the dispute directly. Those talks collapsed, and the companies filed for declaratory judgment this week in the U.S. District Court for the Western District of Texas, asking a judge to find that “Terafab” does not infringe TERA-print’s mark before TERA-print can file a claim of its own.
TERA-print isn’t backing down. The company told PCMag it discussed a settlement with Tesla as recently as September 2 and feels misled by what it called Tesla’s professed interest in settling. Its CTO, Andrey Ivankin, said TERA-print holds a Defense Department contract to fabricate semiconductors and partially owns Mattiq Inc., an AI company built on TERA-print’s products, and that the company will vigorously defend its rights.
Tesla and SpaceX argue the overlap is superficial. Terafab is planned as a $16.8 billion complex spanning roughly 100 million square feet at the Grimes County site SpaceX confirmed last month, built to produce chips for Optimus robots, Tesla’s AI computing needs and SpaceX’s orbital data center ambitions, a scale and purpose the companies say no reasonable consumer would confuse with a tabletop lab printer. TERA-print’s product line has stayed focused on lithography tools for biological and sensor research since it registered its mark in 2021.
The trademark fight is the second legal dispute tied to the Terafab project in the past week, following a separate SpaceX suit aimed at keeping company records about the facility out of public view, as KBTX reported. Whether construction proceeds under the Terafab name now depends on a federal judge in Austin.