News
Tesla is preparing for a substantial V3 Supercharger push in Los Angeles
Tesla has been working to ramp the presence of its V3 Superchargers since its initial introduction in March 2019. Now that the electric carmaker is experiencing high demand for its vehicles worldwide, faster charging times are more desirable for all drivers. In Los Angeles, where EVs, Teslas, in particular, are extremely popular, the electric car company is working on expanding its V3 Supercharger presence with a sizeable installation of over 200 stalls in 2021.
A photograph captured by Reddit user u/WhereUGo_ThereUAre shows a bi-fold sign outside of the new Supercharger in Downtown Los Angeles. The sign says, “200+ V3 Charging Stalls: Coming to the LA Metro 2021.”
The 200+ stall installation will effectively double the number of V3 Superchargers in the Los Angeles area. With about 20 stations currently operating within the region, about 200 stalls are currently available. However, Teslas are among the most popular cars in the state of California. With around four million people living in Los Angeles, accounting for 1/10th of the state’s population, electric vehicles are being driven by many people, and charging stalls are needed.
While EVs continue to establish themselves in today’s automotive market, Tesla is certainly leading the charge. In Q1 2020, the Tesla Model 3 was the most-registered “Near Luxury” car, according to InsideEVs. Meanwhile, the Model S was listed as the third-most-popular “Luxury and High End Sports Car,” and the Model X was the third-most-popular “Luxury Mid Size SUV.”
Tesla has certainly established itself as the main player in the entire EV sector, but its home state of California is also is a hotspot for the carmaker. With higher demand comes the need for more charging stations.
The Red indicators denote a Tesla Supercharging Station that is currently operational. (Credit: Tesla)
With 17,467 Superchargers across the world, Tesla has made a point to make charging availability more widespread than in the past. Early on, the adoption of EVs was relatively small and confined to California. Now that EVs are making their way across the globe, stalls are needed. Tesla has solved that issue, but now comes the challenge of making stalls charge a vehicle efficiently.
With a more concerted effort to install V3 Superchargers in new regions, owners will spend less time at the charging station and more time on the road.
The importance of installing high-powered charging stalls also eliminates the narrative that charging an electric vehicle is a time-consuming process. With the V3 Supercharger offering speeds of up to 1,000 MPH thanks to a 250kW power rate, charging a Tesla takes no longer than it would to grab a coffee or get something to eat. Not to mention, the features Tesla has included, like Hulu and Netflix, make a charging session more enjoyable for the whole family.
Elon Musk
Music City Loop could highlight The Boring Company’s real disruption
The real story behind the tunneling startup’s Nashville tunnel project is the company’s targeted $25 million per mile construction cost.
Recent commentary on social media has highlighted what could very well prove to be The Boring Company’s real disruption.
The analysis was shared by tech watcher Aakash Gupta on social media platform X, where he argued that the real story behind the tunneling startup’s Nashville tunnel project is the company’s targeted $25 million per mile construction cost.
According to Gupta’s breakdown, Nashville’s 2018 light rail proposal was priced at roughly $200 million per mile. New York’s East Side Access project reportedly cost about $3.5 billion per mile, while Los Angeles Metro expansion projects have approached $1 billion per mile.
By comparison, The Boring Company has stated it can construct 13 miles of twin tunnels in the Music City Loop for between $240 million and $300 million total. That implies a cost near $25 million per mile, or roughly a 95% reduction from industry averages cited in the post.
Several technical departures from conventional tunneling allow the Boring Company to lower its costs, from its smaller 12-foot diameter tunnels to its fully electric Prufrock machines that are designed to mine continuously with no personnel inside the tunnel and their capability to “porpoise” for easy launch and retrieval.
Tesla and Space CEO Elon Musk responded to the post on X, stating simply that “Tunnels are so underrated.”
The Boring Company has seen some momentum as of late, with the company recently signing a construction contract in Dubai and the Universal Orlando Loop progressing. Recent reports have also pointed to tunnels potentially being constructed to solve traffic congestion issues near the Giga Nevada area.
While The Boring Company’s tunnels have so far been used for Loop systems publicly for now, Elon Musk recently noted that the tunneling startup’s underground passages would not be limited only to ride-hailing vehicles.
In a reply to a post on X which discussed the specifications of the Music City Loop, Musk clarified that “any fully autonomous electric cars can use the tunnels.” This suggests that vehicles potentially running systems like FSD Supervised, even if they are not Teslas, could be used in systems like the Music City Loop in the future.
Elon Musk
SpaceX IPO could push Elon Musk’s net worth past $1 trillion: Polymarket
The estimates were shared by the official Polymarket Money account on social media platform X.
Recent projections have outlined how a potential $1.75 trillion SpaceX IPO could generate historic returns for early investors. The projections suggest the offering would not only become the largest IPO in history but could also result in unprecedented windfalls for some of the company’s key investors.
The estimates were shared by the official Polymarket Money account on social media platform X.
As noted in a Polymarket Money analysis, Elon Musk invested $100 million into SpaceX in 2002 and currently owns approximately 42% of the company. At a $1.75 trillion valuation following SpaceX’s potential $1.75 trillion IPO, that stake would be worth roughly $735 billion.
Such a figure would dramatically expand Musk’s net worth. When combined with his holdings in Tesla Inc. and other ventures, a public debut at that level could position him as the world’s first trillionaire, depending on market conditions at the time of listing.
The Bloomberg Billionaires Index currently lists Elon Musk with a net worth of $666 billion, though a notable portion of this is tied to his TSLA stock. Tesla currently holds a market cap of $1.51 trillion, and Elon Musk’s currently holds about 13% to 15% of the company’s outstanding common stock.
Founders Fund, co-founded by Peter Thiel, invested $20 million in SpaceX in 2008. Polymarket Money estimates the firm owns between 1.5% and 3% of the private space company. At a $1.75 trillion valuation, that range would translate to approximately $26.25 billion to $52.5 billion in value.
That return would represent one of the most significant venture capital outcomes in modern Silicon Valley history, with a growth of 131,150% to 262,400%.
Alphabet Inc., Google’s parent company, invested $900 million into SpaceX in 2015 and is estimated to hold between 6% and 7% of the private space firm. At the projected IPO valuation, that stake could be worth between $105 billion and $122.5 billion. That’s a growth of 11,566% to 14,455%.
Other major backers highlighted in the post include Fidelity Investments, Baillie Gifford, Valor Equity Partners, Bank of America, and Andreessen Horowitz, each potentially sitting on multibillion-dollar gains.
News
Tesla expands global FSD (Supervised) testing with Abu Dhabi trials
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
Tesla has started its first Full Self-Driving (Supervised) road trials in Abu Dhabi under the oversight of the Integrated Transport Centre, also known as Abu Dhabi Mobility.
The program marks the emirate’s first formal testing framework for Tesla’s supervised autonomous driving technology.
FSD (Supervised) road trials are being conducted with the support of the Smart and Autonomous Systems Council and in coordination with the Legislation Lab at the General Secretariat of the UAE Cabinet.
Dr. Abdulla Hamad AlGhfeli, Acting Director General of the Integrated Transport Centre (Abu Dhabi Mobility), highlighted the agency’s regulatory role in overseeing the FSD (Supervised) tests in a press release.
“The supervision of the Integrated Transport Centre (Abu Dhabi Mobility) over the commencement of Tesla’s advanced autonomous driving technology tests reflects its regulatory and legislative role. These tests represent a qualitative step to evaluate the technology’s performance in a real-world operating environment and to collect the necessary data to verify its readiness before any future expansion in usage.
“Through this organized framework, and in cooperation with strategic partners, we seek to achieve a balance between supporting innovation and encouraging the adoption of smart solutions on one hand and ensuring the safety of road users on the other, in line with the emirate’s direction to develop an advanced, safe, and sustainable transport system,” he said.
Tesla is putting a lot of effort into expanding the rollout of FSD (Supervised) to territories outside in the United States. During a recent interview with Giga Berlin plant manager Andre Thierig, Musk stated that Tesla is looking to secure approval for FSD (Supervised) in the Netherlands this coming March.
“Tesla has the most advanced real-world AI, and hopefully, it will be approved soon in Europe. We’re told by the authorities that March 20th, it’ll be approved in the Netherlands,’ what I was told. Hopefully, that date remains the same. But I think people in Europe are going to be pretty blown away by how good the Tesla car AI is in being able to drive,” Musk stated.
Music City Loop could highlight The Boring Company’s real disruption
SpaceX IPO could push Elon Musk’s net worth past $1 trillion: Polymarket
