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Tesla taps into Chinese TikTok for social media-based sales and customer support

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Tesla may have temporarily shut down its electric vehicle factory in Shanghai due to the coronavirus outbreak, but the electric car company has taken to other channels to reach its enthusiastic market in China. More specifically, Tesla is using Douyin, China’s version of TikTok, to push knowledge-based content with the goal of driving more sales and deliver customer support to new and existing Tesla owners.

A tweet posted by Tesla owner and electric car enthusiast @Ray4Tesla shows Tesla stores in China are conducting livestreams that put the spotlight on Tesla vehicles and their features. Each store has its own account to stream videos that cover a variety of topics that are of interest to its customers.

For instance, the Tesla Experience Center in Changsha is conducting live-streamed tours of the Model 3, followed by a Q&A call that allows potential buyers to interact directly with the sales representatives. Other broadcasts include tutorials to inform new buyers of charging and how to use Tesla’s Autopilot driving-assist feature, testimonials from the first Made-in-China Model 3 owners, and demonstrations of Tesla vehicles undergoing energy consumption tests.

Allan Wang, General Manager at Tesla China, has posted a comprehensive schedule of livestreams by each Tesla store on his Weibo page.

Tesla China General Manager Allan Wang posts schedule of Douyin livestreams. (Credit: Allan-Tesla via Weibo)

Tesla may have struggled with customer service in the US, but the all-electric car company seems to be making sure it doesn’t make the same mistakes in China. Considering China is the largest electric vehicle market in the world, it only makes sense for Tesla to turn to powerful yet severely underused social media channels that allow it to provide a more personalized level of service to a new base of customers.

Douyin, the Chinese version of video app TikTok, is one of the most popular social media apps in China. In its annual earnings report, Douyin parent company ByteDance announced that the app has grown to 400 million active users every day in 2019, up from 250 million daily active users at the beginning of last year. Marketing research firm eMarketer also said that Douyin’s growth outpaces that of earlier players Weibo and WeChat.

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Douyin’s claim to fame is its emphasis on knowledge-based content, which it says is the most consumed type of content on its app in 2019. It’s also the largest mobile social network in China, with 67.9 percent of Chinese social network users actively on Douyin.  The potential for using Douyin is huge, as it allows Tesla to provide educational broadcasts and reach a broad swath of the Chinese market for free while providing customers a closer look at Tesla’s products and company values.

No doubt, Shanghai-based Tesla competitor Nio recognizes Douyin as a sales and customer service tool, having taken a page out of Tesla’s playbook and creating its own Douyin accounts as well.

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Elon Musk

Elon Musk sheds two new bits of detail on Starship after 13th test launch

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Credit: SpaceX

Elon Musk shed two new bits of detail on Starship following its 13th test launch, which was an overwhelming success.

SpaceX launched Starship for the 13th time last Friday after two delays: one on Monday when several Raptor engines did not ignite, and another on Thursday due to unfavorable weather conditions in Starbase, Texas.

The launch was overwhelmingly successful. SpaceX was able to complete a necessary test of the heat shield tiles by increasing the acceleration of Starship from launch throughout the flight; 20 Starlink v3 satellites were released with no issue; the Super Heavy Booster landed safely in the Gulf of America, Ship successfully reignited engines while in space; and it also splashed down without incident in the Indian Ocean.

SpaceX Starship just nailed something it’s never done before

Nevertheless, more details are coming out about Starship, and Musk is doing the talking.

Starship Will Be Retrieved in the Ocean

Musk revealed on Tuesday night that Starship would be recovered by a ship in the Indian Ocean. SpaceX routinely tries to recover Starship after splashdown in an effort to find out more about the flight by examining the spacecraft afterward.

This helps engineers find out more about why things might have happened, allows them to examine any potential damage or anomalies that might have occurred, and increases the chances of an even more successful flight next time thanks to the additional information recovered.

Ship Could Have Been Caught by Tower Arms, Musk claims

Musk has already indicated that SpaceX will plan to attempt a catch of Starship with the 14th test flight. While this would be a major accomplishment, it would be an expected next step, considering the fact that the Super Heavy Booster has already been caught by the chopsticks on numerous occasions.

A ship catch would be a great indication of where SpaceX stands in terms of reusability and launch cadence. A successful catch with relatively no incidents would be a good sign that SpaceX is nearing a more frequent launch of Starship, but also that the reusability of the massive rocket would be something many would expect in the near future.

It is a necessity to make life multiplanetary.

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Elon Musk

Elon Musk updates the SpaceX timeline for Mars

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Rendering of a colonized Mars by way of SpaceX
Rendering of a colonized Mars by way of SpaceX

Elon Musk has updated his timeline for when humans will walk on Mars and for when ships will simply get there.

The objective of getting to Mars has been one of Musk’s biggest goals since becoming a serial entrepreneur and realizing that time on Earth is limited. Musk has said several times he hopes to die on Mars, and not by impact.

Musk now believes that people will be on Mars in “roughly 5 to 7 years.” He said that a Mars lander will get there “a few years sooner.”

The response from Musk comes after NASA Administrator Jared Isaacman said that SpaceX’s biggest priority is the Moon and not Mars. Because of this, Isaacman conceded that he believes nuclear power and propulsion investments will provide “potentially the pathway with the fewest miracles required to put four people on Mars in the next 10 to 15 years.”

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Of course, this is what NASA can do through taxpayer funding and nuclear investments, he added.

Musk’s grand ambitions are much more optimistic than most, and it is certainly a double-edged sword. This is not the first time timelines for Mars have been somewhat lofty, especially to those normal thinkers like you and me, not super geniuses like Musk.

SpaceX Board has set a Mars bonus for Elon Musk

In fact, the SpaceX and Tesla frontman has said on at least a dozen occasions that we could be on Mars in the coming years. Musk said 2020 would be the big year as early as 2009. In 2020, he was “highly confident” of a landing in 2026, and had even said 2024 in a best-case scenario.

The point is, the range has varied, and it’s anyone’s guess when we’ll get there. This latest adjustment to the timeline is typical of Musk, and while the Moon has seemingly taken priority over Mars, it is still worth mentioning that the ultimate goal is to make life multiplanetary, and it starts potentially with the Red Planet.

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Investor's Corner

SpaceX gets an absolutely crazy price target after rough IPO

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Credit: SpaceX

SpaceX (NASDAQ: SPCX) got an absolutely crazy price target rating from Raymond James after the company experienced a tough first few weeks following its Initial Public Offering (IPO).

Despite the tumultuous start, SpaceX has plenty of believers, and the company’s massively successful Starship launch last Friday, its 13th test flight of the massive rocket, went so smoothly that Raymond James analysts pushed its price target on the company to roughly 7 times its current trading level.

SpaceX Starship just nailed something it’s never done before

The firm officially put a “Strong Buy” rating and an $800 price target on the stock. It currently trades at around $113. Its all-time high is $225.64, reaching this trading level shortly after shares first went public.

Raymond James’ price target is tied to the firm’s confidence after Starship’s 13th test flight. Analysts at the firm said it was an incremental step that reduces engineering risks, citing the widely successful heat shield test that CEO Elon Musk recently detailed, the smooth deployment of Starlink V3 satellites, and a successful in-space engine relight.

SpaceX also managed to see Starship splash down safely in the Indian Ocean, while the Super Heavy Booster fell down to the Gulf of America with no incidents.

It is interesting to see these launches have such a tremendous impact on the stock and what investors think of it. After SpaceX initially delayed the Starship launch last week, shares fell tremendously. Most probably did not realize that the stand-down is a standard practice, especially if everything is not perfect.

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The mission was initially aborted due to an issue with Raptor engines. This was resolved, and Starship launched last Friday after another delay on Thursday, which was caused by weather.

Now that analysts have seen what SpaceX launches are capable of and how impressive the feat is, firms are adjusting their price targets accordingly, making it known that they have high expectations for the space exploration company.

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