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Tesla applies for subsidies for Giga Berlin’s battery cell production

Tesla's 2170 battery cells. (Credit: Tesla)

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Tesla has officially applied for federal subsidies for its upcoming battery cell production in Germany. The move makes it clear that the company’s intentions in the European country are to foster a culture of sustainability and environmental consciousness, as represented by the production of premium electric vehicles that run on lithium-ion batteries.

The application was submitted by Tesla and first reported by German newspaper Handelsblatt, which revealed that Tesla was on the list of companies that applied for the subsidies. However, the German Federal Ministry of Economics has stated that they cannot discuss specifics about the said subsidies for now.

Subsidies for Tesla’s planned battery production in Germany would allow the company to develop its already industry-leading cells that power its vehicles at an optimal cost. This should allow the company to produce the Model Y and Model 3 at Giga Berlin at a cost that will not weigh down the company’s finances.

Tesla has acquired numerous battery technology companies, and it is currently putting efforts in developing a true million-mile battery for its vehicles. The subsidies are also expected to assist the German Ministry of Economic Affairs in developing a European battery cell manufacturing project that includes 14 European Union member states and over 55 domestic and international companies.

When Tesla CEO Elon Musk announced the plans to build a Gigafactory in Berlin in November, it was met with support from many German officials. Economy Minister Peter Altmaier has been one of the most supportive members of the German government, at one point stating that the presence of Tesla in the country is a big step in the right direction.

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Altmaier offered a helping hand to Tesla and Musk in an interview with Tagesspiegel. “If the plant does not come, it would be a damage for all of Germany. If we are asked for help as a ministry, we will be happy to help,” he said. Altmaier has also stated that he was a big part of the decision to bring Tesla to Germany, as he was in Musk’s ear leading up to the final decision.

However, the Economy Minister stated that he would not give Tesla special or preferential treatment because of his support. He never discussed or encouraged Tesla to come to Germany because of the possibility of subsidies. “It’s clear that Tesla – if it invests in Germany and creates jobs here, will be treated like all other companies in the automobile and automotive industry,” Altmaier said.

Gigafactory 4 will be completed in July 2021, according to Elon Musk, and the facility will operations with Model Y production. The plant is scheduled to produce around 150,000 cars in its initial production phase. Tesla plans to ramp this manufacturing rate to 500,000 vehicles a year by its third phase. Gigafactory 4 will eventually produce the Model 3 as well.

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 receives major institutional boost with Nomura’s rising stake

The move makes Tesla Nomura’s 10th-largest holding at about 1% of its entire portfolio.

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Credit: Tesla China

Tesla (NASDAQ:TSLA) has gained fresh institutional support, with Nomura Asset Management expanding its position in the automaker. 

Nomura boosted its Tesla holdings by 4.2%, adding 47,674 shares and bringing its total position to more than 1.17 million shares valued at roughly $373.6 million. The move makes Tesla Nomura’s 10th-largest holding at about 1% of its entire portfolio.

Institutional investors and TSLA

Nomura’s filing was released alongside several other fund updates. Brighton Jones LLC boosted its holdings by 11.8%, as noted in a MarketBeat report, and Revolve Wealth Partners lifted its TSLA position by 21.2%. Bison Wealth increased its Tesla stake by 52.2%, AMG National Trust Bank increased its position in shares of Tesla by 11.8%, and FAS Wealth Partners increased its TSLA holdings by 22.1%. About 66% of all outstanding Tesla shares are now owned by institutional investors.

The buying comes shortly after Tesla reported better-than-expected quarterly earnings, posting $0.50 per share compared with the $0.48 consensus. Revenue reached $28.10 billion, topping Wall Street’s $24.98 billion estimate. Despite the earnings beat, Tesla continues to trade at a steep premium relative to peers, with a market cap hovering around $1.34 trillion and a price-to-earnings ratio near 270.

Recent insider sales

Some Tesla insiders have sold stock as of late. CFO Vaibhav Taneja sold 2,606 shares in early September for just over $918,000, reducing his personal stake by about 21%. Director James R. Murdoch executed a far larger sale, offloading 120,000 shares for roughly $42 million and trimming his holdings by nearly 15%. Over the past three months, Tesla insiders have collectively sold 202,606 shares valued at approximately $75.6 million, as per SEC disclosures.

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Tesla is currently entering its next phase of growth, and if it is successful, it could very well become the world’s most valuable company as a result. The company has several high-profile projects expected to be rolled out in the coming years, including Optimus, the humanoid robot, and the Cybercab, an autonomous two-seater with the potential to change the face of roads across the globe.

@teslarati Tesla Full Self-Driving yields for pedestrians while human drivers do not…the future is here! #tesla #teslafsd #fullselfdriving ♬ 2 Little 2 Late – Levi & Mario
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Tesla rolls out fresh Supercharger pricing strategy to more locations

Live Pricing aimed to resolve some of the shortcomings of the off-peak and on-peak system, aiming to keep prices low and base them on current utilization instead of a set time when prices change.

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tesla supercharger
Credit: Tesla

Tesla has rolled out a fresh Supercharger pricing strategy to more locations, as it confirmed it has added 550 additional sites in the United States to its “Live Pricing” strategy.

Live Pricing for Superchargers launched back in May, and was the company’s latest strategy to keep charging your EV cheap, affordable, and easy to understand.

Tesla has adjusted its pricing strategy at Superchargers several times over the past few years, with the most notable being the 2020 introduction of off-peak and on-peak Supercharging rates.

Live Pricing aimed to resolve some of the shortcomings of the off-peak and on-peak system, aiming to keep prices low and base them on current utilization instead of a set time when prices change.

Tesla explained the program when it launched:

“We are piloting on-peak and off-peak pricing based on live Supercharger utilization rather than estimations. The average price remains unchanged, but this live feedback loop improves accuracy. This corrects off-peak pricing during times of congestion, or on-peak pricing when Superchargers are plentiful. You’ll always see the price before your session begins, and prices do not change mid-session. A small-scale pilot is launching at 10 sites and will expand based on feedback and success.”

The initial rollout only included Superchargers in California, but it was not all of them, only a handful instead. Tesla was attempting to launch it in a very controlled manner by using a Pilot Program that would iron out all the early bugs and potential issues it might run into.

However, the company expanded the program by launching it at an additional 550 sites in California, New Jersey, New York, Florida, and Illinois:

The price you pay is locked in when you plug in, so if the Supercharger station you are charging at becomes more crowded and the program bumps up the rates because of high utilization rates, you will still receive the cheaper price that was enabled when you arrived.

@teslarati With a pedestrian in the crosswalk, Tesla Full Self-Driving shows off its courtesy. Human drivers? Not so much. #tesla #teslafsd #fullselfdriving ♬ AMERICAN HEART – Maxwell Luke

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Tesla Robotaxi was just spotted in a new state for the first time

The company is still attempting to expand and has explicitly stated that it plans to offer rides in Nevada, Arizona, and Florida in the near future. However, a pair of Robotaxi mules, fitted with LiDAR equipment for ground truth validation, was spotted in a new region for the first time.

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Credit: Tesla

Tesla Robotaxi mules were spotted in a new state for the first time as the company plans to expand the ride-sharing service to new areas of the United States in the coming months.

Tesla is offering Robotaxi rides in Austin already, where nobody is present in the driver’s seat except for on freeway routes. In California, Tesla refers to its platform as a ride-hailing suite, and a “Safety Monitor” is present in the driver’s seat at all times, but the vehicle operates on Full Self-Driving.

The company is still attempting to expand and has explicitly stated that it plans to offer rides in Nevada, Arizona, and Florida in the near future. However, a pair of Robotaxi mules, fitted with LiDAR equipment for ground truth validation, was spotted in a new region for the first time.

Over the weekend, Tesla Robotaxi mules were spotted in Enola, Pennsylvania, just about ten minutes from downtown Harrisburg:

Enola is situated to the northwest of Harrisburg, Pennsylvania’s State Capitol. Interestingly, you’d expect Tesla to be testing these types of vehicles in other, more populated areas; Philadelphia is about two hours East, and Pittsburgh is about three hours west. State College is about an hour North of Enola.

Looking at the location of where the vehicles were spotted tells an interesting story, as Enola, located right outside of the State Capitol, could be a move to nudge legislators to consider looking at some of the laws that deal with driverless and autonomous vehicle operation.

Pennsylvania’s Act 130 of 2022 and subsequent guidelines permit the testing of driverless vehicles in the Commonwealth, but PennDOT requires a permit from Tesla or any other company that wants to operate a ride-hailing service in PA.

It’s also important to note that the cars could have simply been stopping through, as they were spotted at a Supercharger location along Interstate 81, which spans from Tennessee to New York.

It is not to say the vehicles are testing along the entire route, but likely a segment of it. The fact that they were spotted in Pennsylvania does bode well for Tesla’s expansion efforts moving forward.

@teslarati Tesla Full Self-Driving yields for pedestrians while human drivers do not…the future is here! #tesla #teslafsd #fullselfdriving ♬ 2 Little 2 Late – Levi & Mario

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