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Tesla Model 3 impresses former rally champion after high-speed testing
After conducting high-speed tests of the Tesla Model 3 Performance and evaluating its potential as a rally car, professional driver and former champion Wyatt Knox realized that the electric sedan could be a game changer. In a conversation with Teslarati, Knox described the Model 3 Performance as a “fantastic” car, thanks to its dual motors, its Track Mode feature, and its superb handling.
Wyatt Knox, a former rally champion who currently works as the special projects director of the Team O’Neil Rally School in New Hampshire, stated that the Model 3 Performance’s dual motors are a difference-maker, allowing the electric car to “do a lot of things that a normal AWD car cannot.” It should be noted that Knox’s point of comparison in this statement is conventional rally cars, which are already frighteningly powerful in their own right. Rally cars, for one, are famed for their brutal acceleration, allowing them to reach highway speeds in unpaved terrain.
“Because of the dual motors, (the Model 3 Performance) can infinitely vary the amount of drive to the front and rear however much it is programmed to, based on your steering angle, throttle position, brake position, yaw sensor, wheel speed sensors, (and) probably more that I’m not even aware of. A Subaru or an Audi or something with one engine driving a normal transmission and center diff cannot do that,” Knox stated.
Coupled with Track Mode, which was engaged during the high-speed tests, Tesla’s dual motor system allowed for superb handling of the Model 3 Performance in the challenging, icy rally course. Referring to the car’s potential for rallying later, Knox remarked that if Tesla eventually allows owners to “tune” their vehicles by allowing them to adjust their cars’ settings, it could open up a lot of doors for the top-trim Model 3 to perform even more impressively.
“The Tesla dual motor (system) could theoretically be 100% front wheel drive, 100% rear wheel drive, or any mix of the two. That’s not how it’s really programmed to work, but that’s the tech it’s based on. That opens a LOT of really interesting doors. If you could plug in and ‘tune’ the system to your application, yeah, that would be would be a game changer,” the rally driver wrote.
Elon Musk actually mentioned a rather similar feature in an interview with YouTube tech reviewer Marques Brownlee last year. During his conversation, Musk described Track Mode’s capabilities, comparing the feature to an “expert user mode” for a computer. Musk noted that with Track Mode enabled, drivers would be able to “overclock” their electric cars’ performance.
“Track Mode will open up a lot of settings. You can adjust settings, and it’s kinda like an ‘Expert User Mode.’ You can sort of adjust traction control, adjust battery temperature. You can basically configure a bunch of things, and it will tell you, like ‘Hey, you know if you do this, it’s a bit risky. You’re gonna wear out your brakes sooner; you might blow a circuit.’ But like, it’ll be clear — like, you know, this is the risk you’re taking. It’s kinda like if you have a graphics card in a computer. You can go in there and change the settings and you can overclock things,” Musk said.
By the end of his session with the electric sedan, Knox observed that the Model 3 performed very well, especially since the vehicle’s only optimization were its Pirelli Sottozero winter tires. Despite the intensive testing sessions having been conducted in single-digit weather, Knox observed that the Model 3 Performance’s battery consumption during the tests was nominal as well.
The idea of utilizing an electric vehicle for rally events is already part of the World Rally Championship’s roadmap. Earlier this month, the WRC announced that it would be moving forward with an electric or hybrid solution from 2022. With this in mind, the sight of the Model 3 Performance ripping through the woods, in loose gravel and snow, might eventually be commonplace. For the former champion, at least, the idea of using the Model 3 Performance as a rally car is definitely a welcome thought.
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The Model 3 and its Track Mode has already been proven on the track. In a recent segment, for example, Chinese auto group Know the Car tested the Model 3 Performance on the racetrack, pitting it against fellow electric cars, high-performance sedans, and supercars. The Model 3 Performance dominated in straight line acceleration in the group’s tests. In actual track tests, the Model 3 Performance proved competitive, beating similar class cars, the BMW M3 and the Mercedes-AMG C63, around the track.
SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
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News
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
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Elon Musk
Tesla’s mysterious Robovan makes a sneak peek with Optimus in Terafab video
Elon Musk shared a new Terafab video showing Optimus, Robovans, and a stunningly futuristic campus.
Elon Musk posted a new video of Terafab on X Thursday morning, and the most eye-catching details in it were not the building itself, but two products still awaiting production: Optimus and the Robovan.
The concept render, credited to SpaceX, shows Optimus robots working the grounds of the roughly 2.5-mile-long facility planned for the Gibbons Creek site in Grimes County, while a Robovan glides along an elevated roadway cutting through the building itself, sharing the frame with a Tesla Semi and a Cybercab.
Robovan is the boxy, driverless people and cargo mover Musk unveiled alongside Cybercab at Tesla’s “We, Robot” event in October 2024. He pitched it as a way to move up to 20 passengers at once, or handle freight instead, at a target cost he claimed could fall under a dollar a mile, with no steering wheel or pedals, the same layout as Cybercab. Nearly two years later, Robovan still has no confirmed production timeline and has not shown up in any factory footage, which makes Thursday’s render one of the only recent looks at the vehicle in any form.
Terafab Texas will be the largest and most valuable building on Earth by far.
And it will be stunningly beautiful. pic.twitter.com/4NweOqTL7y
— Elon Musk (@elonmusk) August 6, 2026
Optimus has moved further along. Tesla began converting Fremont’s old Model S and Model X assembly line into a Gen 3 Optimus production line earlier this year, and Musk visited the site on July 1 to mark the changeover. A second, larger Optimus plant is under construction at Giga Texas, targeting volume production in summer 2027 and eventual capacity of 10 million units a year. Tesla AI lead Ashok Elluswamy said this month the robot has “big shoes to fill” in replacing the S and X line, while Musk has repeatedly called Optimus the company’s biggest product of any kind, with a long-term price he has pegged between $20,000 and $30,000.
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Check out the “Robovan” from @Tesla
📸: @Teslarati pic.twitter.com/D4es2i9NUe
— TESLARATI (@Teslarati) October 11, 2024
“Terafab Texas will be the largest and most valuable building on Earth by far,” Musk wrote alongside the clip. “And it will be stunningly beautiful.”
One quote post summed up the reaction: “Futuristic scene with RoboVan + Cybercab + Tesla Semi + Optimus.”
Beyond the vehicles, the architecture wrapped around them stands out too. The building’s facade is canted at sharp angles, with illuminated horizontal bands running through what appears to be a multi level interior visible from outside. Below the elevated roadway, pedestrians walk along a plaza next to a reflecting pool, and the skyline behind the campus is dotted with angular spires that read more like sculpture than infrastructure, a departure from the strictly utilitarian look of Gigafactory Texas or Starbase.
The timing tracks with what Terafab representative Riley Trennell told Grimes County residents on Wednesday, when he said renderings of the facility would be released “within days.” Musk’s post followed less than 24 hours later, and Texas Governor Greg Abbott’s office sent out its own release Thursday confirming the project. As Teslarati reported this morning, Terafab’s tax abatement agreements with Grimes County are now signed and active, and SpaceX has sent the county its first $10 million payment under that deal. The dollar figure tied to this phase of construction, per Reuters, is $16.8 billion, one of the first hard capital expenditure numbers attached to Terafab since Musk unveiled the joint Tesla-SpaceX-xAI venture in March.Reaction on X ranged from enthusiastic to skeptical. “God Bless Texas! Everything is bigger and better in Texas!” one reply read. Another was more measured: “Terafab in a decade…..”
Whether the finished building matches the render is a separate question from whether Musk wanted people talking about the render itself. Less than a day after posting, the video had already crossed 5.5 million views.
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Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
