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Volvo to adopt “Tesla style” megacasts for its next-gen electric vehicles

Credit: Idea Group/YouTube

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The use of Giga Presses may be considered futile and ill-conceived by Tesla skeptics, but it appears that some veteran automakers are currently preparing to adopt the technology for their next generation electric vehicles. First up seems to be Volvo, which recently noted that its Torslanda factory in Sweden, one of the company’s oldest and largest plants, would be shifting to the use of megacasts within the coming years. 

Similar to Tesla, which practically pioneered the use of megacasts by using them for the Model Y, Volvo would be using the massive components for its next-generation electric vehicles. In a statement to Automotive News Europe, Volvo Solution Architect Vehicle Platform Mikael Fermer remarked that the use of megacasts is one of the company’s biggest technological shifts. “This is the biggest technology shift since we switched from wood to steel (for car bodies),” Fermer said. 

Volvo’s Torslanda car plant (Credit: Volvo Cars)

The Torslanda factory is one of Volvo’s most historical sites, having been opened in April 1964. The facility is expected to receive numerous changes during its transition into an electric vehicle factory. A battery assembly plant would be added to the site, which would allow the automaker to integrate battery cells and modules to the floor structures of its upcoming EVs. 

Volvo’s head of engineering and operations Javier Varela noted that the shift to the use of megacasts could result in 75% time savings compared with how large aluminum body components are traditionally put together today. “You avoid the stamping and welding processes and replace them with a megacasting process that is a one-shot injection followed by some tweaks after the injection,” Varela said. 

Varela also noted that ultimately, the use of megacasted parts should allow Volvo to enjoy some sustainability benefits. “All the aluminum that you are injecting is used. You don’t have any scrap like you do with stamping,” Varela added. 

While exciting, the utilization of megacasts in Volvo’s Torslanda plant is expected to start around 2025. By this time, the factory would likely also be ready to start the full production of the company’s next-generation EVs. Today, the Torslanda plant produces vehicles like the Volvo XC90 and XC60 SUVs, as well as the V90 station wagon. 

Credit: Tesla

Interestingly enough, it is not just Volvo that is looking to adopt megacasts in their future vehicle production. Other automakers such as German luxury car maker Mercedes-Benz is reportedly looking to utilize single-piece casts as well. Mercedes-Benz is reportedly looking to utilize megacasts to form the rear of its EQXX concept, which made its debut in Las Vegas last month during CES 2022. 

Volvo is yet to announce if it is also purchasing Giga Presses from the IDRA Group, the company currently producing Tesla’s machines. That being said, the automaker did state that it was speaking with leading machine manufacturers to help the company make the switch to megacasts at the Torslanda site. No final decisions have been made yet, however, according to a Volvo spokesperson.

Volvo is looking to make half of its global vehicle sales from battery-powered cars by 2025. By 2030, the company plans to be an electric-only carmaker. To help foster and accelerate this transition, Volvo has announced investments totaling over $4 billion over the past two years. 

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it

The Boring Company’s new tunnel vehicle runs on Tesla Model 3 batteries and drive units.

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The Boring Company just introduced a new piece of hardware, and it runs on parts pulled straight from a Tesla showroom. Liner Truck 3, unveiled in a post from the tunneling company’s official X account, is an all electric vehicle built around Tesla Model 3 battery packs and drive units, purpose built to move concrete tunnel segments to the boring machine face without a single person underground.

The job itself is unglamorous but critical. Each precast segment run weighs more than 22,000 pounds, roughly the load of a full cement mixer, and Liner Truck 3 hauls that weight repeatedly between the surface staging area and wherever the Prufrock machine happens to be cutting.

The Boring Company said Liner Truck 3 is piloted remotely out of its Global Operations Control Center in Texas, extending the Zero-People-In-Tunnel approach the company has spent years building toward. An earlier version of a ZPIT liner truck was already tested at the company’s Bastrop, Texas research tunnels, and a factory tour released last month showed an employee flying a fully loaded liner truck with a PlayStation controller. Liner Truck 3 looks like the production version of that same idea, cleaned up and pushed into daily use.

The timing lines up with a company digging in more places than it ever has before. The Boring Company now has multiple Prufrock machines active or arriving in Nashville, where Music City Loop construction has been accelerating since February, and its Vegas Loop network keeps adding tunnel mileage on a near monthly basis. Every one of those projects depends on getting concrete segments to the cutting face fast enough to keep the boring machine from idling, which is exactly the bottleneck Liner Truck 3 is designed to remove.

It also reinforces something Tesla owners have watched happen gradually across Musk’s companies: passenger car hardware finding a second life in heavy equipment. Model 3 drive units already move people through the Vegas Loop, and now the same components are hauling concrete underground in Nashville and wherever The Boring Company digs next. Whether that kind of component reuse extends further into TBC’s equipment lineup, or into other Musk owned industrial hardware, is the next thing worth watching.

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Elon Musk and SpaceX shrugs off the trading day Wall Street feared most

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Rendering of Elon Musk overlooking a Starship fleet (Credit: Grok)

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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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.

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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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