Some would say that the Tesla Model 3 has opened doors for the EV industry in the mainstream passenger car market. To an experienced professional driver like John Chambers, the Tesla Model 3 might be more than just a good passenger car.
“I do think, if you want to take a car on track, I think the Model 3 is the best car,” Tevo Solutions founder John Chambers told Teslarati.
Chambers explained that the size of the Model 3 was a good fit for the track. “Because the Model 3 now is easily the match of any car of that size when we take it on track. There’s nothing that could stay with it,” he said. And that’s including gas or petrol cars.
Chambers is a long-time car enthusiast who can remember the days when there were no track barriers between the spectators and the cars on the racecourse. He’s been behind the wheel of some successful track runs, under the hood optimizing race cars, and even mentored the next generation of racers throughout his career thus far. Now, he wants to help people understand Tesla and other EVs better, too.
He is excited to see a Model 3 with a Taycan on the track during Tevo Solutions’ EV-only track day at the Llandow Circuit in the United Kingdom. Chambers believes it would be an excellent chance to compare the two EVs along with the opportunity to see and experience other electric vehicles, too.
Although, he did distinguish that a track day in the UK is not competitive. It is a day for drivers to learn more about their vehicles and learn slightly more advanced driving skills.
As more car owners transition to electric cars, events like Tevo Solutions’ track day may become common in the automotive industry. Rivian, for instance, plans to hold a 4-month Demonstration Driving Program for new R1T owners so they can familiarize themselves with their new electric pickup truck.
The EV-only track day, scheduled for August 18, 2021, was exclusively created with electric vehicle owners in mind. As per Tevo Solutions’ press release: “Hybrids, PHEVs, and vehicles with range extenders will not be accepted.”
In his talk with Teslarati, Chambers shared that not many tracks or organizers in the UK would consider opening their tracks to EVs, let alone hold an EV-only track day.
“When I got my Model 3 [Performance], there was nothing I could enter that was competitive. At the time, the rules didn’t allow EVs because they were still worried about fire and safety,” he said.
As with many things related to Tesla, there have been some forms of FUD (fear, uncertainty, or doubt) about Tesla vehicles or electric cars in the UK. But Chambers believes the country is overcoming the FUD surrounding EVs or, at least, more people are trying to understand electric vehicles better.
As for Chambers, he ended up joining non-competitive track days, which most Tesla owners participated in at the time. “But there was no track or organizer that was going to do an EV-only day. And, I thought, it’s the obvious next step. But nobody decided to do it, so I decided I’d do it myself.”
TEVO Solutions is working with a list of top-class driving instructors for the event, including a coach responsible for training drivers seen in popular car scenes in films including Mission Impossible and some James Bond movies.
Tesla Model 3 SR Plus sold out in UK for Q2 despite zero EV purchase incentives
Tevo will inform event participants of charging locations near the Llandow Circuit. The company is also trying to bring portable chargers into the track grounds for more convenient charging. Chambers noted that charging is one of the stopgaps that make circuits hesitant about organizing an EV track day.
Chambers hopes that the event will be inclusive. At the time of the interview, he shared that at least two Taycans, a VW Golf-e, and possibly even a VW Beetle converted to electric would be coming to the event. So when Tevo Solutions said all EVs are invited, it really meant all electric vehicles.
Learn more about the UK’s first-ever EV-only track day, here.
Elon Musk
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
A newly confirmed $20 billion xAI funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune.
Elon Musk moved within reach of an unprecedented $800 billion net worth after private investors sharply increased the valuation of xAI Holdings, his artificial intelligence and social media company.
A newly confirmed $20 billion funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune and widening his lead as the world’s wealthiest individual.
xAI’s valuation jump
Forbes confirmed that xAI Holdings was valued at $250 billion following its $20 billion funding round. That’s more than double the $113 billion valuation Musk cited when he merged his AI startup xAI with social media platform X last year. Musk owned roughly 49% of the combined company, which Forbes estimated was worth about $122 billion after the deal closed.
xAI’s recent valuation increase pushed Musk’s total net worth to approximately $780 billion, as per Forbes’ Real-Time Billionaires List. The jump represented one of the single largest wealth gains ever recorded in a private funding round.
Interestingly enough, xAI’s funding round also boosted the AI startup’s other billionaire investors. Saudi investor Prince Alwaleed Bin Talal Alsaud held an estimated 1.6% stake in xAI worth about $4 billion, so the recent funding round boosted his net worth to $19.4 billion. Twitter co-founder Jack Dorsey and Oracle co-founder Larry Ellison each owned roughly 0.8% stakes that are now valued at about $2.1 billion, increasing their net worths to $6 billion and $241 billion, respectively.
The backbone of Musk’s net worth
Despite xAI’s rapid rise, Musk’s net worth is still primarily anchored by SpaceX and Tesla. SpaceX represents Musk’s single most valuable asset, with his 42% stake in the private space company estimated at roughly $336 billion.
Tesla ranks second among Musk’s holdings, as he owns about 12% of the EV maker’s common stock, which is worth approximately $307 billion.
Over the past year, Musk crossed a series of historic milestones, becoming the first person ever worth $500 billion, $600 billion, and $700 billion. He also widened his lead over the world’s second-richest individual, Larry Page, by more than $500 billion.
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Tesla Cybercab sighting confirms one highly requested feature
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
A recent sighting of Tesla’s Cybercab prototype in Chicago appears to confirm a long-requested feature for the autonomous two-seater.
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
The Cybercab’s camera washer
The Cybercab prototype in question was sighted in Chicago, and its image was shared widely on social media. While the autonomous two-seater itself was visibly dirty, its rear camera area stood out as noticeably cleaner than the rest of the car. Traces of water were also visible on the trunk. This suggested that the Cybercab is equipped with a rear camera washer.
As noted by Model Y owner and industry watcher Sawyer Merritt, a rear camera washer is a feature many Tesla owners have requested for years, particularly in snowy or wet regions where camera obstruction can affect visibility and the performance of systems like Full Self-Driving (FSD).
While only the rear camera washer was clearly visible, the sighting raises the possibility that Tesla may equip the Cybercab’s other external cameras with similar cleaning systems. Given the vehicle’s fully autonomous design, redundant visibility safeguards would be a logical inclusion.
The Cybercab in Tesla’s autonomous world
The Cybercab is Tesla’s first purpose-built autonomous ride-hailing vehicle, and it is expected to enter production later this year. The vehicle was unveiled in October 2024 at the “We, Robot” event in Los Angeles, and it is expected to be a major growth driver for Tesla as it continues its transition toward an AI- and robotics-focused company. The Cybercab will not include a steering wheel or pedals and is intended to carry one or two passengers per trip, a decision Tesla says reflects real-world ride-hailing usage data.
The Cybercab is also expected to feature in-vehicle entertainment through its center touchscreen, wireless charging, and other rider-focused amenities. Musk has also hinted that the vehicle includes far more innovation than is immediately apparent, stating on X that “there is so much to this car that is not obvious on the surface.”
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Tesla seen as early winner as Canada reopens door to China-made EVs
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y.
Tesla seems poised to be an early beneficiary of Canada’s decision to reopen imports of Chinese-made electric vehicles, following the removal of a 100% tariff that halted shipments last year.
Thanks to Giga Shanghai’s capability to produce Canadian-spec vehicles, it might only be a matter of time before Tesla is able to export vehicles to Canada from China once more.
Under the new U.S.–Canada trade agreement, Canada will allow up to 49,000 vehicles per year to be imported from China at a 6.1% tariff, with the quota potentially rising to 70,000 units within five years, according to Prime Minister Mark Carney.
Half of the initial quota is reserved for vehicles priced under CAD 35,000, a threshold above current Tesla models, though the electric vehicle maker could still benefit from the rule change, as noted in a Reuters report.
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y. That year, Tesla began shipping vehicles from Shanghai to Canada, contributing to a sharp 460% year-over-year increase in China-built vehicle imports through Vancouver.
When Ottawa imposed a 100% tariff in 2024, however, Tesla halted those shipments and shifted Canadian supply to its U.S. and Berlin factories. With tariffs now reduced, Tesla could quickly resume China-to-Canada exports.
Beyond manufacturing flexibility, Tesla could also benefit from its established retail presence in Canada. The automaker operates 39 stores across Canada, while Chinese brands like BYD and Nio have yet to enter the Canadian market directly. Tesla’s relatively small lineup, which is comprised of four core models plus the Cybertruck, allows it to move faster on marketing and logistics than competitors with broader portfolios.
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
Tesla Cybercab sighting confirms one highly requested feature
