

Investor's Corner
German teardown firm gives insight on Tesla Model 3 materials cost and battery composition
A German teardown company has stated that Tesla could make a profit with the Model 3. Speaking with German news agency WirtschaftsWoche, an engineer from the teardown firm stated that after analyzing and studying the vehicle, they concluded that the materials used in the Model 3 cost around $18,000 per vehicle.
The Model 3 has a base price of $35,000 for the standard range, RWD version. Currently, the premium variant of the compact electric car, the Model 3 Performance, is offered at $78,000 with all options except Autopilot. In a statement to WirtschaftsWoche, the engineer from the teardown firm stated that the Model 3 could ultimately contribute positively to Tesla’s earnings.
“If Tesla manages to build the planned 10,000 pieces a week, the Model 3 will deliver a significant positive contribution to earnings,” the engineer said.
Also notable were the conclusions of the German company about the Model 3’s battery pack. Laboratory results shared with WirtschaftsWoche noted that Tesla’s 2170 cells for the Model 3 consisted of 2.8% cobalt, 65% less than the industry average of 8%. Sven Bauer, Managing Director of Batterien-Montage-Zentrum (BMZ), one of Germany’s largest independent battery producers, stated that Tesla’s reduction in cobalt use can give the company a competitive advantage.
“That would be a significant competitive advantage for Tesla. Cobalt is currently very difficult to get on the world market,” Bauer said.
Tesla’s progress in its battery tech were highlighted in a recent report from advisory firm Benchmark Mineral Intelligence. According to BMI, Tesla has used less cobalt in its batteries since the days of the original Roadster and the Model S. With the Model S, for example, Tesla used up 11 kg of cobalt per car. Tesla is using 4.5 kg of cobalt for the Model 3, a 60% reduction.
Tesla’s improvements showcased in the Model 3’s 2170 battery cells were discussed during the company’s Q1 2018 Update Letter. According to the letter, the cobalt content of the company’s Nickel-Cobalt-Aluminum cathode chemistry is “already lower than next-generation cathodes that will be made by other cell producers with a Nickel-Manganese-Cobalt ratio of 8:1:1.” Such a ratio has not been attained by any competitor in the market so far.

The evolution of Tesla’s cobalt use over time. [Credit: Benchmark Mineral Intelligence]
The observations of the German firms about Tesla’s battery tech in the Model 3 echo the findings of Detroit veteran Sandy Munro, whose company, Munro & Associates, is also in the process of tearing down and analyzing the compact electric car. In a recent episode of Autoline After Hours on YouTube, Munro stated that the Model 3’s battery is the best in the industry today. Munro was particularly impressed with the .2-milliamp differential between the Model 3’s battery modules, stating that “nobody (in the industry) can balance batteries that close.”
Back in January, photographs emerged in the Tesla community showing the Model 3 being air-freighted to Germany. References to Stuttgart, which is where Porsche and Mercedes-Benz are based, were visible in the pictures. The German companies reportedly paid up to $230,000 for every Model 3 that they acquired.
Confirmation that German companies were analyzing the Tesla Model 3 came in February, when Georg Kacher, a journalist for German news agency Süddeutsche Zeitung, published an article stating that a “major German car company” was able to acquire a Model 3 for testing and analysis. According to Kacher’s report, the German company was surprised and impressed by the Model 3’s minimalistic design, especially in the vehicle’s interior, which was dubbed as “reminiscent of a completely cleared, black-washed Bauhaus living room.”

Elon Musk
NYC Comptroller moves to sue Tesla for securities violations

New York City Comptroller Brad Lander is urging the NYC Law Department to sue Tesla for securities violations related to CEO Elon Musk’s involvement in the Department of Government Efficiency (DOGE).
Lander said the basis for the potential litigation lies on “material misstatements from Tesla claiming that CEO Elon Musk spends significant time on the company and is highly active in its management, despite his helming the Trump Administration’s DOGE initiative.”
🚨 NEWS: New York City Comptroller Brad Lander wants to sue Tesla by claiming CEO Elon Musk’s role as the head of DOGE is hurting the stock.
Lander said that Musk was “effectively quitting his job at Tesla” by assuming the role with DOGE. pic.twitter.com/p9eMq9mMbr
— TESLARATI (@Teslarati) April 1, 2025
It is a common complaint amongst some Tesla shareholders who are less than enthusiastic about Musk’s involvement in DOGE. Some feel as if Musk is not concerned about Tesla, especially as the stock has dropped over 28 percent this year. However, Musk has continued to double down on his position within the U.S. government.
Nevertheless, Musk’s position in Tesla is still very apparent. He headed an All-Hands meeting just two weeks ago that showed his commitment to the company as he outlined future plans and even joked to employees that they should hold onto their stock.
However, Lander believes Musk’s involvement has hurt New York City pension systems, which have lost over $300 million so far this year. He said:
“In less than three months, Tesla stock has lost nearly 40% of its value, with losses over $300 million for the New York City pension systems. We have long expressed concerns that the Tesla board has failed to provide independent oversight, or to require that Musk – or someone else – serve as a full-time CEO.”
Lander went on to say that “material misstatements from Tesla misled investors about his role at the company,” stating this was his reasoning for calling on the Law Department to file securities litigation against the company.
He believes taking it to court will force changes and will return Tesla shares back to a level that will benefit pension systems in New York City:
“Shareholder litigation could force the changes in governance and leadership that Tesla needs, and help recover some of our pension systems’ losses. Otherwise, we may need to consider divestment.”
The pension systems would be able to pursue financial damages to cover losses and seek governance changes, it says.
Investor's Corner
Tesla (TSLA) shares company-compiled Q1 2025 delivery consensus
Analysts are expecting the electric car maker to post 377,592 deliveries for Q1 2025.

Tesla (NASDAQ:TSLA) has released its Q1 2025 company-compiled delivery consensus of sell-side analysts. Based on Tesla’s release, it appears that analysts are expecting Tesla to post conservative vehicle delivery results for the first quarter.
Images of Tesla’s Q1 2025 company-compiled consensus were shared recently on social media.
The Consensus
As could be seen in Tesla’s first quarter 2025 company-compiled vehicle delivery consensus, analysts are expecting the electric car maker to post 377,592 deliveries for Q1 2025. Analysts expect this number to be comprised of 351,893 Model 3/Model Y and 21,241 other models.
The company-compiled consensus also suggests that Tesla will see total deliveries of 1,851,001 vehicles this Full Year 2025. From this number, analysts expect 1,693,397 units of the Model 3 and Model Y and 145,162 units of Tesla’s other models.
The sources
Tesla’s company-compiled consensus was based on estimates from 27 firms. These include Daiwa, DB, Wedbush, Cowen, OpCo, Canaccord, Baird, Wolfe, Exane, GS, Evercore ISI, Barclays, PSC, Mizuho, BofA, Wells Fargo, Morgan Stanley, Truist, UBS, Jefferies, Guggenheim, JPM, Redburn, Needham & Co, HSBC, Cantor Fitzgerald, and William Blair.
FactSet expectations
As noted in an Investor’s Business Daily report, FactSet estimates suggest that Tesla will see vehicle deliveries of 407,900 units in Q1 2025. Such a number is quite optimistic considering that Tesla’s sales of its best-selling vehicle, the Model Y, were throttled during the quarter due to the company’s transition to the new Model Y.
Beyond Q1 deliveries, Tesla’s first quarter vehicle delivery results could trigger revisions to the company’s full-year delivery and earnings forecasts. FactSet data shows Q1 earnings estimates hitting 48 cents per share, down from 57 cents in late January and 74 cents late last year. For 2025, analysts now see earnings per share climbing 13% to $2.74, a drop from $3.31 before the Q4 earnings release.
Elon Musk
Elon Musk clarifies Trump tariff effect on Tesla: “The cost impact is not trivial”
The U.S. President has stated that Elon Musk stayed silent and provided no input in the administration’s tariffs.

U.S. President Donald Trump’s plan to implement a 25% tariff on non-U.S.-made vehicles starting next week would affect American electric car maker Tesla.
This was confirmed by CEO Elon Musk in a recent post on social media platform X.
Musk and Trump
While Elon Musk works closely with the Trump administration due to his role in the Department of Government Efficiency (DOGE), the U.S. president has emphasized that the Tesla CEO never asks for favors. This was highlighted in his recent comments, when he stated that Elon Musk stayed silent and provided no input in the administration’s 25% auto tariffs.
When asked by reporters if the new tariffs would be good for Tesla, Trump noted that they may be “net neutral or they may be good.” The U.S. president also pointed to Tesla’s automotive plants in Fremont, California and Austin, Texas, which produce vehicles that are sold in the country. “Anybody that has plants in the United States — it’s going to be good for them,” Trump noted.
Tesla Affected
In a post on X, Elon Musk clarified that the Trump administration’s tariffs would affect the prices of vehicle parts that are sourced from other countries. This was a concern that Tesla previously outlined in a letter to the U.S. Trade Representative, which noted that even with “aggressive localization” of its supply chain, “certain parts and components are difficult or impossible to source within the United States.”
As per Musk in his recent post on X, the cost impact of the Trump administration’s tariffs is no joke. “To be clear, this will affect the price of parts in Tesla cars that come from other countries. The cost impact is not trivial,” Musk wrote in his post.
Potential Effects
Reactions to Musk’s comments from users of the social media platform were varied, with some speculating that the Trump auto tariffs could result in Teslas becoming more expensive in the United States. Despite this, the potential increases in Tesla’s vehicle prices might not be as notable as other cars, particularly those that are produced outside the country.
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