Tag: Tesla

Tesla, the electric vehicle (EV) trailblazer led by Elon Musk, has hit a bump in the road. The company’s latest quarterly earnings report is causing quite a stir in the tech and auto sectors. This article delves into the numbers and their implications for Tesla and the broader EV market, providing a straightforward analysis.

Elon Musk, known for his financial rollercoaster ride, has recently experienced a significant blow. His net worth plummeted by nearly $28 billion, which can be traced back to Tesla’s latest financial report. The company’s quarterly earnings per share hit a two-year low, falling 10 percent below analysts’ predicted. This downward spiral had immediate repercussions, causing Tesla’s stock to drop more than 17 percent. Consequently, the company’s market value shrank by $138 billion in just over two days. You can check Tesla’s Q3 financial reports here.

Slower growth in EV sales

Electric vehicle sales, while still increasing, are doing so at a slower pace. In the first half of 2023, EV sales grew by 49 percent compared to the previous year, a significant slowdown from the 63 percent increase seen in the prior year. This deceleration is raising eyebrows and sparking discussions about the broader state of the EV market.

Transitioning to electric vehicles is expensive, and it’s not just the price tag on the vehicles. EVs represent a new technology that requires a fundamental shift in how people relate to their cars, a relationship that hasn’t changed much for decades. The expectation that this transition would be seamless and affordable is unrealistic. We’re in a period where the shift to EVs comes at a cost, affecting consumers and manufacturers.

Once seen as a beacon of profitability and environmental progress, the EV industry is now under scrutiny. Traditional automakers like Toyota have taken the opportunity to express their doubts. Akio Toyoda, Toyota’s Chairman and former CEO, has consistently criticized the hype around EVs and is now saying, “I told you so.” His skepticism centers around the belief that electric vehicles are not the only way for the auto industry to achieve carbon neutrality. Toyoda believes there are multiple paths to this goal, says First Post.

Many people hold a grudge against Elon Musk for various reasons, but mainly because he has been doing as he pleases in the technology and automotive sectors for five years. And well, Twitter is tearing him apart more and more with each passing day.

For this reason, this news will please many, as Tesla’s CEO acted like “a little baby” a few days ago, recently revealed financial analyst and YouTuber Kevin Paffrath to Yahoo Finance.

He also described the shareholders’ call, where the events took place, as “terrible.” At one point, Elon Musk broke down in tears, the analyst confesses.

This is how the moment when Elon broke down happened

“For a leader, crying about the economy instead of channeling that and presenting a plan is pathetic,” said Paffrath, who has nearly 1.9 million subscribers on his YouTube channel Meet Kevin and owns shares in Tesla.

Paffrath cited Musk’s comments about Tesla’s gigafactory in Mexico as an example. The $10 billion project, confirmed by Musk during a meeting with investors in March, would be the company’s sixth factory and the most expensive to date.

During the call, Elon Musk suggested that he was delaying the factory in light of rising interest rates, which increase loan costs. “If interest rates stay high or go up even further, it will be much harder for people to buy a car. They simply can’t afford it,” Musk said, pointing out the impact on monthly car loan payments.

Kevin Paffrath, the YouTuber: "Elon Musk turned into 'a little baby' on Tesla call"@realMeetKevin $TSLA @elonmusk pic.twitter.com/tFT5paUUO8

— TΞCH (@techstock_) October 20, 2023

But Paffrath criticized Musk’s response, saying that Tesla’s CEO was “afraid,” and suggested that Musk should negotiate a better deal with the Mexican government.

“We need to know that there’s light at the end of the tunnel instead of hearing a CEO complain that he’s not actually providing that path,” he told Yahoo Finance.

Tesla’s third-quarter results were worse than expected, as both earnings per share and revenues of $23.35 billion fell short of analysts’ estimates.

The electric vehicle manufacturer’s stocks fell by 15% in the last week, valuing the company at $664 billion, but the value is still up 96% this year.

When the company’s CEO took the stage in early 2020 to unveil the Cybertruck, he didn’t know that three years later the electric truck would still not be on the roads of the United States. Undoubtedly, one of the most problematic launches in Tesla’s short history.

But now, as of October 19, 2023, we can say that the Tesla Cybertruck finally has a delivery date, according to a company post on Twitter.

Alongside its third-quarter earnings today, Tesla announced that the long-delayed electric truck Cybertruck will have its first deliveries during an event on November 30 at the company’s Gigafactory in Austin, Texas. By the way, have you heard about their new beer?

Q3 Shareholder Update → https://t.co/sXBSeLibSL
—
Highlights

Cybertruck production remains on track for later this year, with first deliveries scheduled for November 30th at Giga Texas.

Production of our higher density 4680 cell is progressing as planned & we continue building… pic.twitter.com/FqpseLujaA

— Tesla (@Tesla) October 18, 2023

The company is also expected to announce the official price of the car, which was originally set at $39,900 when it was first announced in 2019.

A very difficult car to make, and they expect to sell few of them

CEO Elon Musk has said he wants to “temper expectations” as increasing Cybertruck production will be extremely challenging. Musk stated that Tesla is aiming for a quarter of a million Cybertrucks per year in the future, but that won’t happen until after 2024. He confirmed that more than 1 million people have pre-ordered the truck.

“We dug our own grave with the Cybertruck,” Musk said. “The Cybertruck is one of those special products that come around only once in a while. And products that come around once in a while are incredibly difficult to bring to market at scale, to be successful,” he explained.

pic.twitter.com/P1EE5t8EU2

— Cybertruck (@cybertruck) October 18, 2023

In recent months, Cybertrucks have started to appear on the roads, all labeled as RC for testing or as prototype vehicles. The company had previously stated that there would be a delivery event in the third quarter, but it never materialized.

Earlier this year, Tesla said that the Cybertruck would have limited production this summer, with mass production slated to begin in 2024.

The Cybertruck was originally announced for 2019, but its production was delayed multiple times throughout the cholera pandemic. The company did not meet its initial pre-production target in 2021.

Tesla is the car company that gets talked about the most in the media. And rightfully so. Firstly, because its CEO is Elon Musk, who never stops making headlines. And secondly, because its cars are always involved in controversies, either due to Autopilot failures or due to innovative and incredible features.

Luckily for Tesla customers, today we are talking about Tesla implementing a new feature called “Driver Fatigue Warning,” which uses the car’s cabin camera to determine if the driver is too sleepy to drive.

According to the Electrek outlet, the description of the feature has started to appear in the European user manual of the Tesla Model 3, their best-selling car so far.

Tesla rolls out Driver Drowsiness Warning leveraging cabin camera https://t.co/QVdKqQZgdX by @fredericlambert

— Electrek.co (@ElectrekCo) October 17, 2023

Tesla wants to save lives

Located under “Active Safety Features,” the Driver Fatigue Alert is “designed to notify drivers who appear to be drowsy by monitoring the driver’s facial features, as well as driving behavior to determine indicative patterns of drowsiness.

When drowsiness is detected in the driver, an alert is displayed on the touchscreen in the card area, and an alert sound is emitted.”

The manual states that the “Driver Fatigue Alert system is activated at speeds above 65 km/h when driving for a minimum of 10 minutes, and Autopilot is not engaged.” The alert will be cleared “once drowsiness patterns have been eliminated,” says the manual.

It’s worth noting that Tesla has already been using the cabin camera to monitor driver attention during Autopilot use. The new system is specifically used for non-Autopilot driving.

The feature can be turned off (or on) in Controls > Safety > Driver Fatigue Warning, but only for the current driving cycle.

Like other safety features in Tesla vehicles, the Driver Fatigue Warning is automatically re-enabled at the start of each driving cycle.

The American manual for the Model 3 does not mention this function yet. Therefore, it’s not clear if the feature is actually active anywhere.

During its Cybertruck presentation in 2019, Tesla also showcased the Cyberquad, an electric ATV with an equally futuristic design. It’s the first off-road vehicle that Tesla has announced, and, as expected with any upcoming Tesla release, there is a lot of hype surrounding it.

Among all the vehicles that Tesla has in development, the Cybertruck is one of the most ambitious ones.

It boasts a range of over 800 km with the three-motor variant, offers excellent towing capacity, and features all the autonomous driving technology that has made Tesla famous.

A quad that imitates the Cybertruck, but for children with a garden and without fear of death

For those who completely agree with Tesla’s unique approach with the Cybertruck, the Cyberquad could be the perfect combination. As mentioned earlier, the Cyberquad is a fully electric ATV from Tesla with a design very similar to that of the Cybertruck.

It has the same sharp edges, similar-looking wheels, and should be just as good for off-road driving. The only drawback is that Tesla has practically revealed nothing else about the Cyberquad.

Apart from showcasing a prototype of the ATV during its Shareholders and Battery Day event in September 2020, Tesla has remained quite tight-lipped about any aspect of the Cyberquad. It has not disclosed the range, power, or any other useful information for a potential buyer.

Ya está disponible el Cyberquad de Tesla para niños aquí en España ??https://t.co/IgiUNFMIhS

Características ?
Edad recomendada: De 8 a 12 años
Peso máximo: 68 kg
Límite de velocidad: Ajuste 1- 6 km/h; Ajuste 2 -13 km/h; Marcha atrás – 6 km/h
Batería: iones de litio de 24 V y… pic.twitter.com/ii6YLSNcXT

— ⚡️ Tesla Spirit ⚡️ (@tesla_spirit) October 16, 2023

When will the Tesla Cyberquad be available for purchase?

The toy, because it doesn’t have another name, recommended for children between 8 to 12 years old, supports a maximum weight of 68 kg (so more than one adult might think twice about it) and can already be purchased on the company’s website, with delivery within 2 to 4 weeks. And in Spain, it costs 1,990 euros.

Yes, the toy costs as much as a 125 cc motorcycle that is much more practical, has more range, and can carry more than 100 kilograms of load. So, the Tesla Cyberquad is a very expensive toy.

Today we talked about Tesla to report that their highly anticipated Cybertruck was already undergoing tests on challenging roads, including rough terrain, mud, and steep slopes. That’s why this news fits perfectly, as we’re once again discussing Tesla… but in a completely unexpected way.

As we were saying, Tesla has a new product in its online store, and it’s not an electric vehicle. It’s a beer. Yes, following the success of Tesla Tequila, here comes CyberBeer.

The Tesla CyberBeer, as it’s called, is only available in a $150 “Limited Edition” set, which includes two bottles of beer and two matte black ceramic mugs.

Both the mugs and the beer bottles are designed to “celebrate the angular exoskeleton” of the Cybertruck, Tesla’s seemingly imminent electric SUV.

CyberBeer now available https://t.co/yrySp7jxfn

— Tesla North America (@tesla_na) October 12, 2023

The question is: What type of beer is it?

The beer itself is a “Helles Lager with noble European Saaz and Hallertau Mittlefruh hops,” and Tesla says it is “accentuated by herbal and spice notes, with prominent aromas of tea and citrus.”

As a fan of IPAs, I would have preferred a different style of beer, but I have to congratulate Tesla for jumping on the helles lager bandwagon, which is so popular nowadays.

The beer is only available in North America. It is brewed and bottled by Buzzrock Brewing Co., based in California, which has a few lager beers under its belt. For the American audience, they are good but not the best.

If you decide to spend $150 on two beautifully designed cups and two bottles of beer, you better hurry, because Tesla’s limited edition items tend to fly off the virtual shelves quite quickly. Orders will start shipping “by late October,” says Tesla.

If you remember, a couple of years ago, the folks at Tesla released their own Tequila, featuring a lightning bolt-shaped bottle that sold out within minutes. Elon Musk has a unique talent for creating demand and selling ordinary things at a premium price.

They announced the car before the pandemic. Imagine the time that has passed since that moment when Elon Musk made a fool of himself by smashing a rock against the car’s window during its presentation, in front of all the media.

Cybertruck, Tesla’s three-ton electric truck plated with stainless steel, was created and designed for off-road driving. Now, we’ve been able to get a first look at its off-road capabilities.

Earlier this week, Tesla shared a video showing a Cybertruck (the video appears to be filmed from another Cybertruck, but we don’t know for sure) navigating rough terrain in Baja California, Mexico.

Off-Road Cybertruck in Baja ? https://t.co/uICsaGGE1o

— Tesla (@Tesla) October 9, 2023

A famous hellish road in Mexico

The Baja 1000 rally is a famous off-road race in Baja California, known for its incredibly tough 1,000-mile circuit filled with explosive traps (yes, they exist). Tesla CEO, Elon Musk, previously hinted that the company plans to test the Cybertruck in this race.

The seven-minute video of Cybertruck’s off-road adventure doesn’t show anything particularly dangerous, but it gives us a rough idea of how Cybertruck handles tight curves and sandy traps.

The next Baja 1000 is scheduled for November 12, and the idea is for Tesla to test itself in this race, although it’s not confirmed whether they will actually participate in the trial.

The person recording the video says that the two Cybertrucks used are “two launch candidates” that are “fresh from the factory, except for some special racing seats.”

As for the video, Starlink was used for streaming, and Tesla’s chosen platform was Elon Musk’s controversial X, so the video quality is not the best, but most of the time, you can see what’s happening.

After numerous delays, the Cybertruck was supposed to start being delivered to customers in the third quarter of 2023, but that has already passed, so (hopefully) it should happen before the end of the year.

Elon Musk wants to put a Tesla in every home in the United States and the rest of the world. But first, he wants to start with his own home, which is why he has launched the cheapest Tesla model in its history first in his country. We’re talking about the Model Y.

The new rear-wheel-drive Model Y appeared on Tesla’s website overnight, replacing the all-wheel-drive version that ceased production in September.

It has a range of 420 km, a top speed of 217 km/h, and accelerates from 0 to 160 km/h in 6.6 seconds. Without a doubt, we are talking about an electric car with impressive figures that fits into the 2023 market as a mid-range/premium option.

An electric premium car for less than $45,000

The starting price of the all-wheel-drive Model Y is $43,990, which is $3,750 less than the all-wheel-drive variant that recently disappeared.

And well, we’ve said that the car is only available in the United States, but the truth is that the new Model Y is also available for purchase in Mexico and Canada, two countries that are more of an addition than standalone markets.

Unfortunately, this is not the slightly updated Model Y that appeared yesterday in China. That version has new black wheels and an LED strip inside, while the new rear-wheel-drive Model Y that went on sale in the US doesn’t have noticeable changes compared to previous versions.

Lo del Model Y RWD chino con batería LFP CATL de 60kWh es alucinante.
40.000kms en 10 meses, 8MW han pasado por su baterías y una pérdida de estimación de sólo 4kms.
Es sin duda el mejor Tesla que he tenido y el que siempre recomiendo.
Hasta dónde va a llegar esta batería? pic.twitter.com/5lmWyTGPNV

— Jose (@teslavlogs) October 3, 2023

However, there could be a significant change in the interior (in addition to having one less motor than the AWD variant). The new Model Y could use Tesla’s new lithium iron phosphate (LFP) batteries.

These batteries have lower energy density than the standard nickel, manganese, and cobalt (NMC) batteries, but they have the advantage of being more durable. In practice, this would mean that owners wouldn’t have to worry about charging their car to 100%; LFP batteries don’t mind and won’t degrade because of it.

It’s not the first time that the automotive company has experienced this. Since it began gaining popularity in the market with its high-end electric vehicles and other services, Elon Musk’s company has been under the scrutiny of investors, potential customers, and of course, authorities. Having sent a car into space and holding strong interests in dominating the eco-friendly vehicle market, Tesla has maintained and increased its efforts in R&D to always stay one step ahead of its competition. This has led to significant successes at times, while on other occasions, it must be admitted, there have been significant missteps.

Tesla’s new autopilot requires “too little attention”

Recently, it has been discovered that a new version of Tesla’s autopilot (known as Autopilot) requires no torque effort on the steering wheel, which could lead to excessive driver relaxation and subsequent risks to road safety. This relaxation of a measure designed to keep drivers attentive to the road or any potential situations could pose a significant danger.

The NHTSA (National Highway Traffic Safety Administration) is concerned because this feature might be present in some vehicles that have already been sold, and this discovery could encourage users to attempt to unlock the feature. In fact, on July 26th, Tesla was already summoned to answer a series of questions regarding this matter. However, as of August 25th, it is still unknown whether the administration has received responses.

Tesla has been under investigation for some time, not only for the Autopilot. Seatbelts and steering wheels of these vehicles are also under scrutiny due to issues related to their functionality, as well as problems that some users have reported regarding potential phantom braking. The safety risks for drivers and other road users seem to be increasing as the company becomes more popular.

If you want to master the future, you have to master Artificial Intelligence. This is true, or at least what scientists and engineers who have been working on AI for more than 30 years tell us.

Well, Tesla knows that AI alone can make its business soar tomorrow, outperforming its rivals in the automotive sector.

For that reason, Elon Musk will launch his long-awaited supercomputer on Monday. The machine will be used for various artificial intelligence (AI) applications, but the cluster is so powerful that it could also be used for demanding high-performance computing (HPC) workloads.

In fact, the Nvidia H100-based supercomputer will be one of the most powerful machines in the world.

Tomorrow, @Tesla will turn on a massive and very expensive 10,000 unit NVIDIA H100 GPU cluster to help it train FSD. But that got me wondering, what is the difference between these new H100 GPUs and the older A100 graphics processing units (GPUs) Tesla has been using for the last… pic.twitter.com/ZoCjR1SdjI

— Sawyer Merritt (@SawyerMerritt) August 28, 2023

Specifications of a computer that can dominate us all

Tesla’s new cluster will employ 10,000 Nvidia H100 compute GPUs, delivering a peak performance of 340 FP64 PFLOPS for technical computing and 39.58 INT8 ExaFLOPS for AI applications.

In fact, Tesla’s 340 FP64 PFLOPS exceeds the 304 FP64 PFLOPS offered by Leonardo, the world’s fourth highest performing supercomputer.

With its new supercomputer, Tesla is significantly improving its computing power to train its full autonomous driving technology (FSD) faster than ever before.

Not only could this make Tesla more competitive than other automakers, but it will make the company the owner of one of the world’s fastest supercomputers in AI computing.

The problem lies with Nvidia, which does not deliver

While the new H100-based cluster will dramatically improve Tesla’s training speed, Nvidia is struggling to meet the demand for these GPUs.

Therefore, Tesla is investing more than $1 billion in the development of its own supercomputer, Dojo, based on a customized and highly optimized system-on-chip.

Dojo will not only accelerate FSD training, but will also manage data processing for Tesla’s entire fleet of vehicles.

At the same time, Tesla is bringing its Nvidia H100 GPU cluster online alongside Dojo, a move that will provide the company with unprecedented computing power in the automotive industry.

Elon Musk recently revealed that Tesla plans to spend more than $2 billion on AI training in 2023 and another $2 billion in 2024 specifically on FSD training computing.

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