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Tesla’s U.S. market share is being challenged by more affordable options

Credit: Tesla Inc.

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Tesla’s market share in the United States is still strong but it is being challenged by less expensive options as consumers are opting for affordable electric vehicles.

A new study from S&P Global Mobility shows Tesla still holds a considerable amount, 65 percent, to be exact, of the U.S. electric vehicle market. However, this figure is down from 79 percent two years ago, and pricing is the biggest reason.

“Much of Tesla’s share loss is to EVs available in a more accessible MSRP range – below $50,000, where Tesla does not yet truly compete,” the firm said in its report.

340,000 of the roughly 525,000 EVs registered from January to September 2022 were Teslas. 56 percent of the market was controlled by the Model 3 and Model Y. The remaining sales are divided amongst 46 other EVs that are “competing for scraps” until electrification is more widespread amongst U.S. consumers.

Tesla has four of the top five EV models by registration from January to September. The vehicles in the sixth through tenth positions are the Chevrolet Bolt EV/EUV (21,600 registrations), Hyundai Ioniq5 (between 17,000-18,000 units), Kia EV6 (between 17,000-18,000 units), Volkswagen ID.4 (11,000 units), and Nissan Leaf (10,000 units).

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Credit: S&P Global Mobility

Tesla still obviously dominates the field. However, S&P Global Mobility notes Tesla’s position is changing because more affordable options are available, and they offer “equal or better technology and production build.” Because of this, the firm’s report notes that Tesla’s ability to retain a dominant market share will not be guaranteed in the future.

The group of 48 competing models to the Model 3 and Model Y will only grow. The firm forecasts 159 models across all manufacturers in the U.S. EV market by the end of 2025, which is faster than Tesla will be able to add production volume through new manufacturing plants. Tesla does plan to eventually attack the affordable market with the rumored $25,000 model, which CEO Elon Musk confirmed during the Q3 earnings call was in development. When Tesla will launch the vehicle is unclear, but its competition in the affordable vehicle market will be thick when the car is eventually brought to production.

Tesla drops new details on its next vehicle platform

Tesla is one of the few automakers that is a pure-EV company. S&P Global Mobility’s report estimates this could be the company’s biggest advantage as “few EV owners have returned to ICE powertrains.” However, Tesla brand loyalty could be tested as more EVs enter the market. The Model Y currently has 60.5 percent brand loyalty, and nearly 74 percent of buyers were first-time Tesla owners. These figures both lead the industry.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

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Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Tesla posts Optimus’ most impressive video demonstration yet

The humanoid robot was able to complete all the tasks through a single neural network.

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Credit: Tesla Optimus/X

When Elon Musk spoke with CNBC’s David Faber in an interview at Giga Texas, he reiterated the idea that Optimus will be one of Tesla’s biggest products. Seemingly to highlight the CEO’s point, the official Tesla Optimus account on social media platform X shared what could very well be the most impressive demonstration of the humanoid robot’s capabilities to date.

Optimus’ Newest Demonstration

In its recent video demonstration, the Tesla Optimus team featured the humanoid robot performing a variety of tasks. These include household chores such as throwing the trash, using a broom and a vacuum cleaner, tearing a paper towel, stirring a pot of food, opening a cabinet, and closing a curtain, among others. The video also featured Optimus picking up a Model X fore link and placing it on a dolly.

What was most notable in the Tesla Optimus team’s demonstration was the fact that the humanoid robot was able to complete all the tasks through a single neural network. The robot’s actions were also learned directly from Optimus being fed data from first-person videos of humans performing similar tasks. This system should pave the way for Optimus to learn and refine new skills quickly and reliably.

Tesla VP for Optimus Shares Insight

In a follow-up post on X, Tesla Vice President of Optimus (Tesla Bot) Milan Kovac stated that one of the team’s goals is to have Optimus learn straight from internet videos of humans performing tasks, including footage captured in third person or by random cameras.

“We recently had a significant breakthrough along that journey, and can now transfer a big chunk of the learning directly from human videos to the bots (1st person views for now). This allows us to bootstrap new tasks much faster compared to teleoperated bot data alone (heavier operationally).

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“Many new skills are emerging through this process, are called for via natural language (voice/text), and are run by a single neural network on the bot (multi-tasking). Next: expand to 3rd person video transfer (aka random internet), and push reliability via self-play (RL) in the real-, and/or synthetic- (sim / world models) world,” Kovac wrote in his post on X.

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Starship Flight 9 nears as SpaceX’s Starbase becomes a Texan City

SpaceX’s launch site is officially incorporated as Starbase, TX. Starship Flight 9 could launch on May 27, 2025. 

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(Credit: Jenny Hautmann/Wikimedia Commons)

SpaceX’s Starbase is officially incorporated as a city in Texas, aligning with preparations for Starship Flight 9. The newly formed city in Cameron County serves as the heart of SpaceX’s Starship program.

Starbase City spans 1.5 square miles, encompassing SpaceX’s launch facility and company-owned land. A near-unanimous vote by residents, who were mostly SpaceX employees, led to its incorporation. SpaceX’s Vice President of Test and Launch, Bobby Peden, was elected mayor of Starbase. The new Texas city also has two SpaceX employees as commissioners. All Starbase officials will serve two-year terms unless extended to four by voters.

As the new city takes shape, SpaceX is preparing for the Starship Flight 9 launch, which is tentatively scheduled for May 27, 2025, at 6:30 PM CDT from Starbase, Texas.

SpaceX secured Federal Aviation Administration (FAA) approval for up to 25 annual Starship and Super Heavy launches from the site. However, the FAA emphasized that “there are other licensing requirements still to be completed,” including policy, safety, and environmental reviews.

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On May 15, the FAA noted SpaceX updated its launch license for Flight 9, but added: “SpaceX may not launch until the FAA either closes the Starship Flight 8 mishap investigation or makes a return to flight determination. The FAA is reviewing the mishap report SpaceX submitted on May 14.”

Proposed Texas legislation could empower Starbase officials to close local highways and restrict Boca Chica Beach access during launches. Cameron County Judge Eddie Trevino, Jr., opposes the Texas legislation, insisting beach access remain under county control. This tension highlights the balance between SpaceX’s ambitions and local interests.

Starbase’s incorporation strengthens SpaceX’s operational base as it gears up for Starship Flight 9, a critical step in its mission to revolutionize space travel. With growing infrastructure and regulatory hurdles in focus, Starbase is poised to become a cornerstone of SpaceX’s vision, blending community development with cutting-edge aerospace innovation.

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The Boring Company accelerates Vegas Loop expansion plans

The Boring Company clears fire safety delays, paving the way to accelerating its Vegas Loop expansion plans.

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Credit: The Boring Company/X

After overcoming fire safety hurdles, the Boring Company is accelerating its Vegas Loop expansion. The project’s progress signals a transformative boost for Sin City’s transportation and tourism.

Elon Musk’s tunneling company, along with The Las Vegas Convention and Visitors Authority (LVCVA) and Clark County, resolved fire safety concerns that delayed new stations.

“It’s new. It’s taken a little time to figure out what the standard should be,” said Steve Hill, LVCVA President and CEO, during last week’s board meeting. “We’ve gotten there. We’re excited about that. We’re ready to expand further, faster, than we have.”

Last month, the company submitted permits for tunnel extensions connecting Encore to a parcel of land owned by Wynn and Caesars Palace. The three tunnels are valued at $600,000 based on country records.

Plans for a Tropicana Loop are also advancing, linking UNLV to MGM Grand, T-Mobile Arena, Allegiant Stadium, Mandalay Bay, and the upcoming Athletics’ ballpark. Downtown extensions from the convention center to the Strat, Fremont Street Experience, and Circa’s Garage Mahal are also in the permitting process.

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“Those are all in process,” Hill noted. “We’ve got machines that are available to be put in the ground. I think we’ve reached a framework for how these projects are going to work and how they’ll be permitted from a safety standpoint, as well as a building standpoint.”

The Boring Company has six boring machines, with three currently active in Las Vegas. Last week, TBC announced that it successfully mined continuously in a Zero-People-in-Tunnel (ZPIT) configuration, enabling it to build more tunnels faster, safer, and at a more affordable rate.

Tunneling under Paradise Road is underway as The Boring Company works on the University Center Loop. The University Center Loop is expected to connect to the Las Vegas Convention Center within two months, linking to the Westgate tunnel. The full Vegas Loop will span 104 stations and 68 miles. Even though The Boring Company’s tunnel network in Las Vegas isn’t nearly finished, it has already become a key attraction in the city.

“It’s such a great attraction for shows that are looking at this building (convention center) and we’re going to be connected to everybody in town,” Hill said. “It’s a real difference-maker.”

A few Vegas Loop stations are already operational, including those connected to Resorts World, Westgate, Encore, and all the Las Vegas Convention Center Loop stations. The Downtown Loop, which connects to the downtown area, and the Riviera Station, the hub that leads to Resorts World with Westgate destinations, are also operational.

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As The Boring Company accelerates the Vegas Loop, its tunnels are poised to redefine mobility and tourism in Las Vegas, blending cutting-edge technology with practical urban solutions.

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