News
Tesla China shares rendering of Compact EV smaller than Model 3 in job posting
Tesla CEO Elon Musk announced during the recent Gigafactory 3 event in Shanghai that the company plans to create a design and R&D center in the country and it appears the carmaker is now looking for designers to help come up with “China-style” Tesla vehicles.
China-focused news website Abacus first spotted the announcement of Tesla on its official WeChat account on Wednesday. Roughly translated, the ad says, “Tesla is waiting for you. Chinese-Style Tesla will sweep the world.”
The post stated that Tesla is looking for outstanding design talents to create original Chine-style Teslas. The company is encouraging those with bold ideas and welcomes even non-car designers since according to Tesla China, the new designers will not just design ordinary cars. Interested parties can email designer@tesla.com until Feb. 1, 2020.
“Let the most beautiful Chinese art be integrated into the future-oriented Tesla,” the Tesla WeChat post read.
- Chinese-Style Tesla Vehicles by Tesla China Design Center (Source: Tesla China WeChat)
- Chinese-Style Tesla Vehicles by Tesla China Design Center (Source: Tesla China WeChat)
- Chinese-Style Tesla Vehicles by Tesla China Design Center (Source: Tesla China WeChat)
- Chinese-Style Tesla Vehicles by Tesla China Design Center (Source: Tesla China WeChat)
The latest move of Tesla in China is another big step to dominate the local market and preparation to conquer the rest of Asia. No one might have thought that hiring for car designers to make Chinese-style Teslas will come this soon, but Elon Musk believes in the concept that speed solves everything. The design and R&D center in China will not only create vehicles for the local market but for the rest of the globe as well.
Perhaps the comparison of Musk to renowned military general and The Art of War author Sun Tzu by venture capitalist Paul Holland holds water since Tesla has been pushing the right buttons to get a share of the pie in the largest automotive market in the world. It is doing things right and it’s striking with rapidity as the Chinese philosopher advised.
Tesla recently delivered its first batch of Made-in-China Model 3 to the public and Musk also formally launched the Model Y program in the country during the Gigafactory 3 event. It also lowered the price of the locally-made electric sedans the resulted in a surge of orders in the country. If the local market already loves the Model 3, introducing variants of Teslas that’s focused on the China market will definitely generate more interest and help increase sales even more.
As analysts from China-based equity firm Chuancai Securities put it, the Model 3 is a potential cash cow for the electric carmaker as it can localize the sourcing of parts that will lead to better margins and better conditions to even stimulate sales of its vehicles in China.
The story of Tesla in China has been amazing so far. Its Gigafactory 3 in Shanghai rose from a muddy field and produced its first vehicles in just 10 months and delivered its first vehicles to its employees in less than a year. At present, its production has hit a run rate of 3,000 units per week and plans to consistently ramp up production as more workers are added to the production frontline.
Tesla will likely get some market share from local EV manufacturers but the competition is welcomed in a car market that has slowed down in the last year or so. The Chinese government, who’s looking to improve the quality of air in the country, is also pouring support that will help Tesla entice more consumers to buy its new energy vehicles.
News
Tesla Supercharger access has proven to be a challenge for one company
Interestingly, it seems to be the Volkswagen brand specifically that is having issues with compatibility with Tesla Superchargers. Other brands under the VW umbrella, like Audi and Porsche, have already gained access to the charging network.
Tesla Supercharger access has proven to be quite the challenge for one company, as it continues to delay the date that it will enable its owners to charge at the most expansive network in the world.
Tesla Superchargers have been opening up to other brands for well over a year, and many car companies that are manufacturing electric vehicles now have access to the vast network that has over 70,000 locations worldwide.
Tesla to launch Supercharger access for VW owners later this year
However, one brand has experienced some issues with what it is calling “technical challenges,” specifically failing to enable cross-compatibility between its vehicles and Tesla Superchargers.
Volkswagen has had to delay its ability to enable customers to charge at Superchargers because there have been some difficulties getting things to run smoothly. A report from PCMag cites a quote from a Volkswagen spokesperson who said there are still plans to deliver this year, but there have been some delays:
“Volkswagen looks forward to making it possible for ID. Buzz and ID.4 vehicle owners to gain access to the Tesla NACS Partner Superchargers. The timeline has been delayed by technical challenges, and we ask for customers’ patience. We still expect to deliver access this year.”
Interestingly, it seems to be the Volkswagen brand specifically that is having issues with compatibility with Tesla Superchargers. Other brands under the VW umbrella, like Audi and Porsche, have already gained access to the charging network.
Volkswagen EV owners will need to use an official VW adapter to access the Tesla Supercharger Network once the issues are resolved. It still plans to launch access to its owners later this year, but its spokesperson did not announce any planned timeline.
News
Tesla Giga Berlin makes big move amid strong sales and demand
“We currently have very good sales figures and have therefore revised our production plans for the third and fourth quarters upwards.”
Tesla is making a big move at its factory in Germany, known as Giga Berlin, as managers at the plant have indicated the company plans to increase its production rate for the remainder of the year.
Giga Berlin is responsible for manufacturing Model Y vehicles for several markets worldwide, including those outside of Europe. It was opened in March 2022, and it recently built its 500,000th Model Y in March and its 100,000th new Model Y just three weeks ago.
Due to some encouraging sales figures in the markets it provides vehicles for, Tesla said it is planning to increase production at the factory for the remainder of the year.
Andrè Thierig, plant manager at Giga Berlin, said to German news outlet DPA on Sunday that market data has encouraged a move to be made regarding the production at the factory:
“We currently have very good sales figures and have therefore revised our production plans for the third and fourth quarters upwards.”
It is interesting to see this kind of narrative from Thierig, especially as data has shown Tesla has struggled in various markets, including Germany, this year.
Sales drops have been reported, but other markets are holding strong, especially those in Northern Europe, such as Norway, where the Model Y saw a nearly 39 percent increase in sales in August compared to the same month the previous year.
Gigafactory Berlin supplies vehicles for other markets, such as Canada, Australia, and New Zealand, which are strategically important to avoid tariffs. It also builds cars for the Middle East.
Thierig reiterated this point during the interview with DPA:
“We supply well over 30 markets and definitely see a positive trend there.”
Elon Musk
Tesla analyst says Musk stock buy should send this signal to investors
“With Musk’s (Tesla stock) purchase, combined with the upward momentum for delivery expectations and robotaxi rollout, we are becoming more bullish.”
Tesla CEO Elon Musk purchased roughly $1 billion in Tesla shares on Friday, and analysts are now breaking down the move as the stock is headed upward.
One of them is William Blair analyst Jed Dorsheimer, who said in a new note to investors on Monday that Musk’s move should send a signal of confidence to stock buyers, especially considering the company’s numerous catalysts that currently exist.
Elon Musk just bought $1 billion in Tesla stock, his biggest purchase ever
Dorsheimer said in the note:
“With Musk’s (Tesla stock) purchase, combined with the upward momentum for delivery expectations and robotaxi rollout, we are becoming more bullish. This purchase is Musk’s first buy since 2020. To us, this sends a strong signal of confidence in the most important part of Tesla’s future business, robotaxi.”
Musk putting an additional $1 billion back into the company in the form of more stock ownership is obviously a huge vote of confidence.
He knows more than anyone about the progress Tesla has made and is making on the Robotaxi platform, as well as the company’s ongoing efforts to solve vehicle autonomy. If he’s buying stock, it is more than likely a good sign.
Tesla has continued to expand its Robotaxi platform in a number of ways. The project has gotten bigger in terms of service area, vehicle fleet, and testing population. Tesla has also recently received a permit to test in Nevada, unlocking the potential to expand into a brand-new state for the company.
In the note, Dorsheimer also touched on Musk’s recent pay package, revealing that William Blair recently met with Tesla’s Board of Directors, who gave the firm some more color on the situation:
“We recently participated in a meeting with Tesla’s board of directors to discuss the details of Musk’s performance package. The board is confident of its position in the Delaware case and anticipates a verdict by end of year. It does not expect a similar situation to occur under new Texas jurisdiction. Musk has the board’s full support, and we expect he’ll get more than enough shareholder support for this to pass with flying colors.”
Tesla stock is up over 6 percent so far today, trading at $421.50 at the time of publication.
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