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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.
The Teslarati team would appreciate hearing from you. If you have any tips, contact me at maria@teslarati.com or via Twitter @Writer_01001101.
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Tesla owners who tap Emergency Drive Away for fun are in for a surprise
Tapping Activate on Tesla’s Emergency Drive Away reportedly triggers a $539 service bill without moving.
Tesla owners who press Activate on Emergency Drive Away may be on the hook for a service bill even if their car never leaves the Supercharger stall.
Yaro, who posts about Tesla service cases on X as @Tutrifour, said a customer called after tapping Activate while still plugged into a Supercharger. The owner was about to pull away, remembered the cable was still connected and stopped. The car never moved, but the touchscreen showed a red alert reading “Emergency Drive Away has been activated” with “Service is required” underneath. A Service Mode screenshot showed the active alert BMS_a228_EmergencyDriveAwayServiceRequired, which Yaro said only Tesla Service can clear.
Here is a lesson to Tesla owners. Don’t press Activate on the new Emergency Drive Away feature on your Tesla because service charges $539 to inspect the charge port and to clear the alert. Yes, even if you didn’t move the car an inch. https://t.co/NZJENw4SQv
— Yaro (@Tutrifour) October 30, 2026
The cost of clearing it was the bigger surprise. “Don’t press Activate on the new Emergency Drive Away feature on your Tesla because service charges $539 to inspect the charge port and to clear the alert. Yes, even if you didn’t move the car an inch,” Yaro wrote. The $539 figure comes from that single case, and Tesla has not published a set price for the inspection or commented on the post. Yaro also noted that the car would still charge with the alert on screen.
Tesla launched Emergency Drive Away on October 1 with software update 2026.38.3, letting drivers pull away from a U.S. Supercharger with the cable still attached, as Teslarati reported. To use it, a driver shifts into Drive while connected, holds the brake and taps Activate. The prompt warns that driving with the cable connected will damage the vehicle and the Supercharger, and that short camera recordings will be shared with Tesla.
Tesla Charging has been clear about what follows a real activation. Repairs to a Supercharger stall can run up to $25,000 depending on the site, a service visit for the car’s charge port is mandatory, and deliberate misuse “will invoke additional penalties.” What the company had not spelled out is that the service requirement is triggered the moment Activate is pressed, not the moment the cable breaks away.
From an engineering standpoint, that is the cautious choice. Once Activate is pressed, the car cannot be sure the charge port latch was not stressed, so flagging it for inspection removes the guesswork. It also means the button carries a price on its own, which is a stronger deterrent against casual use than any warning screen.
Customer called because they have an active alert after tapping ACTIVATE on the new Emergency Drive Away feature. They didn’t actually drive away but were about to until they “remembered” they had the charge cable connected.
This alert can only be cleared by Tesla Service. https://t.co/SkHyJJPFwU
— Yaro (@Tutrifour) October 28, 2026
The report follows the feature’s first known real world use, when a driver in Austin during F1 weekend appeared to trigger it by accident and dragged the Supercharger cable along with the car. The Reddit user who filmed it said the driver seemed to have only half read the prompts.
For owners, the takeaway is to treat the red prompt as a stop sign. If it appears after shifting out of Park by mistake, shift back and unplug the normal way from the touchscreen, the Tesla app or the button on the charge handle. Activate is meant for moments when staying at the stall is the bigger risk, and Tesla is now pricing it that way.
Elon Musk
Elon Musk calls Earth’s data centers “peanuts” next to what SpaceX is planning in orbit
Elon Musk says SpaceX capex efficiency is underestimated as orbital data centers loom by 2028.
Elon Musk is pushing back on one of the biggest worries hanging over SpaceX stock. In a reply on X on Sunday, Musk said the company’s capital expenditure efficiency is severely underestimated. He was responding to a Milk Road Stocks post citing analyst Kyle Reidhead, who estimates SpaceX will need to spend roughly $470 billion over the next five quarters.
Reidhead built that figure around the target SpaceX set on its third quarter earnings call: 13 gigawatts or more of compute by the end of 2027. In his breakdown, Nvidia captures 83 to 89 percent of the spending. SpaceX ended the quarter with 1.7 GW of nameplate compute and guided to $35 billion to $40 billion in fourth quarter capex, as Teslarati reported.
Musk did not attach a number to his claim, but the earnings call shows the argument. CFO Bret Johnsen said new compute currently pays for itself in under a year at today’s pricing, and Musk said that window could shrink to six months next year. Using that pace, Reidhead argues about $230 billion of the $470 billion could come from operating cash flow and about $60 billion from SpaceX’s roughly $90 billion cash pile, leaving around $180 billion to borrow. Musk confirmed last week that SpaceX had already closed a new $40 billion debt raise to buy GPUs.
The ground buildout is not the end goal. It is what is meant to pay for the move to orbit. Replying on Friday to charts built from Sequoia partner Shaun Maguire’s SpaceX model, Musk wrote that “Terrestrial compute will be peanuts compared to orbital compute,” adding that orbital compute deployed per month “probably exceeds terrestrial around the end of 2028 and then far exceeds it in 2029.”
Maguire’s model shows how steep that path is. It has capex climbing from $88 billion this year to $290 billion in 2027 and $369 billion in 2028, with SpaceX burning $77.8 billion in cash this year and $122.6 billion next year before turning $114.9 billion cash positive in 2028. Musk’s response to the model was, “I think we can do better.”
The orbital half runs through Starmind. SpaceX plans to operate up to 1 million AI satellites flying in clusters of about 10, linked by roughly 10 terabits of bandwidth, with deployment of thousands of units starting as soon as late 2027 out of its Gigasat factory in Bastrop, Texas, according to SpaceX’s space safety page. Musk has said each Starmind spacecraft will carry more than 250 kW of solar power.
Getting there depends on launch volume. Maguire’s model assumes 250 Starship flights in 2028, up from two this year and 38 next year. The nearer test is financial: SpaceX guided to $33 billion to $37 billion in first quarter 2027 revenue, more than double the $14.58 billion it booked in Q3, and Musk reposted that guidance again on Sunday morning.
Elon Musk
SpaceX President to gift Trump Accounts her SpaceX stock
Gwynne Shotwell’s 2 million SpaceX shares are headed to children’s Trump Accounts starting this December.
SpaceX President Gwynne Shotwell said Friday that more than 2 million SpaceX shares belonging to her and her husband, Robert, will be distributed to children’s Trump Accounts in December, turning a pledge she made over the summer into an actual transfer. “Robert and I are thrilled that our gift of over 2 million shares of SpaceX stock will be distributed to children’s Trump accounts in December!” Shotwell wrote on X, adding that the shares are “transferring to escrow as we speak.”
The first round goes to children aged 11 to 17 who live in ZIP codes where the median family income is $57,000 or less, along with kids in ZIP codes with too few residents for the Census to report that figure. Shotwell said those families should receive a notice by Monday, Reuters reported.
A second gift is expected to be finalized in the next few weeks. That round will cover eligible children in military families serving overseas, children in foster care, and more kids in Texas counties near the Shotwells’ home where median family income is $90,000 or less. Elon Musk replied to the announcement with “Cool” and a heart emoji.
Shotwell first announced the donation on July 6, less than a month after SpaceX priced its record IPO at $135 per share on the Nasdaq. IPO filings showed Shotwell owned about 12.6 million SpaceX shares, Quartz reported at the time, which makes the gift roughly one sixth of her stake. At the roughly $146 per share used to value Musk’s own pledge earlier this month, 2 million shares are worth about $290 million.
How the stock would actually reach the accounts had been an open question since July. Treasury guidance acknowledged that stock donations could flow into Trump Accounts, but it did not explain the mechanics for a program whose contributions default into an S&P 500 index fund. Shotwell thanked the Treasury, the IRS, the Dell Foundation, Greater Horizons, Invest America and the law firms Morgan Lewis and Gibson Dunn for “working over the past few months to make this happen.”
The transfer also works as a dry run for a far larger gift. On October 19, Musk said he would give one of his SpaceX shares to every kid in America next year and called it “the first of many.” With roughly 72 million children in the country, that pledge is worth about $10.5 billion. President Donald Trump thanked Musk the same day and said the shares would go through Trump Accounts, though neither SpaceX nor the Treasury has published how or when that distribution will happen.
Shotwell’s recipients also fill a gap in the program itself. Trump Accounts launched on July 4, and the $1,000 Treasury deposit only goes to babies born between 2025 and 2028. Teenagers aged 11 to 17 receive no government seed money, so for many of the families getting a notice on Monday, SpaceX stock will be the first asset in the account. The accounts convert into retirement accounts when the child turns 18.