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BREAKING: @tesla
“In the fourth quarter, we produced approximately 495,000 vehicles and delivered over 484,000 vehicles. In 2023, vehicle deliveries grew 38% YoY to 1.81 million while production grew 35% YoY to 1.85 million”
So will the run to $1,000 this year be!
France reported 9,572 @Tesla sales and 5.3% market share for December. 🇫🇷
• Tesla 6th best-selling brand
• Best month ever with +2% vs. second best month
• Best quarter ever
• Year-to-date is 216% or 26/12 of last year's total
Spain reported 1,786 @Tesla sales and 2.1% market share for December. 🇪🇸
• 52% Model Y and 47% Model 3
• Second best month ever with -28% vs. last month
• Best third month of the quarter ever and +146% over the previous one
• Best December ever
• Best quarter ever
• Year-to-date is 288% or 35/12 of last year's total
Bull Market Buys: 2 Nasdaq Stocks to Own for the Long Run
January 01, 2024 — 06:30 am EST
Written by RJ Fulton for The Motley Fool ->
Known as the home of high-profile tech stocks, the Nasdaq Composite is up a phenomenal 263% over the last decade. While that was a period of low inflation and easy-money policy from the Federal Reserve, things may not be the same going forward.
When it comes to stocks, while a rising tide lifted all boats in the past, maintaining the same momentum might be difficult. What's more important would be to pick actual businesses whose prospects are amazing, and have the least interference from changing macroeconomic conditions. I have my eye on two stocks at the forefront of their respective industries that could provide even greater returns in the coming years.
If you're looking to build productive long-term portfolios, let's see why Coinbase Global (NASDAQ: COIN) and Tesla (NASDAQ: TSLA) are among the upper echelons of companies on the Nasdaq.
A person at a desk with their arms in the air.
Image source: Getty Images.
Crypto's champion
With cryptocurrencies estimated to grow at a compound annual rate of 30% over the next five years, Coinbase should be on the radar of every growth investor. Thanks to its crypto-centric business model, Coinbase serves as a proxy to capitalize on the burgeoning crypto economy without the need to navigate the complexities of buying individual cryptocurrencies.
More importantly, though, Coinbase possesses a remarkable business model. This wasn't always the case, especially when the crypto market slumped into a historically lousy bear market, but much has changed since those days.
Before the bear market, Coinbase was heavily dependent on transaction fees, accounting for over 90% of its total revenue at one point. However, when the crypto market took a turn for the worse, and the platform experienced a decline in activity, this proved to be a significant vulnerability, leading to a net loss of over $1 billion.
Yet, thanks to its recent efforts, only 53% of its revenue comes from transaction fees today as its innovative "Subscription and Services" product suite has gained traction. This newer segment comprises staking rewards, custodial fees, and earnings from its stablecoin partnerships, and as a result, Coinbase has emerged from the bear market more resilient than ever. With expenses down by nearly one-third from last year, Coinbase's revamped business model has put it just $2 million away from turning a profit.
More than just an EV leader
Like cryptocurrencies, electric vehicles (EVs) are projected to grow at an exponential rate in the coming years. Analysts estimate 2 out of 3 cars sold globally will be an EV by 2030. And Tesla is in perhaps the strongest position to benefit from this market opportunity.
Rising to become the most valuable automaker in the world, much of Tesla's recent success can be associated with its perfection of the EV supply chain. With a projected production of over 1.8 million vehicles in 2023, Tesla's manufacturing capabilities are virtually unrivaled. Best of all, with more factories planned in various countries worldwide, Tesla is in the driver's seat to benefit from the adoption of EVs.
However, EVs may not be the most profitable of the company's long-term prospects. With a cash reserve of $26 billion, Tesla is heavily investing in futuristic technologies, including artificial intelligence, autonomous driving, and robotics. These innovations not only have the potential to transform society, but they also hold the potential to become profitable sources of revenue.
Tesla's promise of future success in the EV market clearly makes it an attractive stock to hold for the long term. But when accounting for the opportunities that its other technological endeavors could bring, Tesla could turn out to be the most productive part of a portfolio for decades to come.
WATCH: First Look At Tesla's Latest Full Self-Driving System
DEC. 31, 2023 7:35 AM ET
BY REX SANCHEZ
VIDEO
/ 6 COMMENTS
It appears someone from Tesla leaked a demonstration ahead of the release of V12.1.
One of the testers of Tesla's new Full Self-Driving (FSD) Beta V12.1 has uploaded a video of the system in action and from what we can see the new AI-operated system appears to operate smoothly, albeit, with some caveats.
The video shows a Tesla taking a short drive around the Tesla Fremont factory. The EV was accelerating smoothly and maintaining proximity to the cars in front. It switched lanes slowly but steadily, with the automatic steering wheel movements looking more confident.
Whole Mars Catalog/YouTube
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While the leaked video shows signs of improvements, it is still not perfect. The EV took a long time to pull out to the street from a parking lot, with the driver hitting the acceleration for it to get a move on. In the system's defense, a semi-trailer truck was on the right of the car, obstructing oncoming traffic.
The EV also had an issue with speed bumps where slowing down didn't seem like an option, driving around 16 mph over them. That wasn't a good look, but remember, this was for early testers and was limited to Tesla employees only.
Whole Mars Catalog/YouTube
Compared to earlier versions, the FSD V12.1 uses a neural network-based operating system instead of the now-removed 300,000 lines of code. The new OS uses artificial intelligence to identify and understand several complex traffic situations.
The system may look more competent now than ever, but it is still an SAE Level 2 similar to Ford's Blue Cruise and the Toyota Safety Sense. As such, it still requires the driver's full attention at all times.
The upcoming production FSD V12.1 will be released to Tesla EVs, including the Cybertruck, in mid-January. With the updated version, we can only hope the automaker gets a break from the feds regarding its safety concerns.
Super bullish from Baron:
Tesla 'Is The Only Investable' EV Play, Says Analyst, As Electric Vehicle Industry Navigates A Tough 2023: Year In Review
December 30, 2023 — 10:28 am EST
Written by Shanthi Rexaline for Benzinga ->
Electric vehicle stocks came under significant selling pressure in 2023 as conditions remained inclement for production as well demand. That said, shares of market leader Tesla, Inc. (NASDAQ:TSLA) rode on a strong first-half performance and doubled during the year.
Here are the key themes that dominated EV space during the year:
Tesla Goes Aggressive With Pricing: With the Fed continuing to take interest rate higher, Tesla smelled trouble and opted to go with the strategy of deep price cutting for most of the first-half of the year. The move produced a ”sugary high” for the stock, which rallied through the first half of the year. Demand, however, proved to be inelastic, not increasing by much.
However, these steep price reductions forced competing startups to a critical point where they had to choose between matching the cuts and exacerbating their already substantial losses, or maintaining their prices and risking a significant decline in revenue.
For Tesla, the price cuts turned out to be a margin-squeezing exercise. The company’s auto gross margin, excluding regulatory credits – aka core auto margin, continued to contract this year. From just under 25% in the fourth quarter of 2022, this metric slid to 16.3% in the third quarter of 2023. As a consequence, Tesla reported a double miss in the quarter.
Rivian’s Pushes Ahead From Startup Crowd: Other than Tesla, the only U.S. electric vehicle stock to end in the green was Rivian Automotive, Inc. (NYSE:RIVN).
Chart Courtesy Of Benzinga
When the rest of the startup ecosystem was cutting production amid difficulty in ramp-up and waning demand, Rivian maintained its production forecast for the year, in fact nudging it up slightly in the back-end of the year. The company now expects full-year production of 54,000 units.
The Irvine, California-based company also managed to keep costs in check, and in early November, it narrowed its full-year adjusted EBITDA loss guidance to $4 billion. Rivian ended the third quarter with $9.13 billion in cash, cash-equivalents and short-term investments.
See Also: Best Electric Vehicle Stocks
Slowing EV Adoption: Despite regulatory mandates put in place by some governments across the globe for transitioning to EVs, the industry faced a setback in 2023. Global EV adoption grew, but at a slower pace in 2023 amid a lack of affordability and charging infrastructure bottlenecks.
Looking ahead, the industry is expected to see a further slowdown in 2024. Investment bank Argus expects battery EV and plug-in hybrid sales growth in the U.S. to slow from 50% in 2023 to 37% in the new year, to reach 1.94 million units.
Pinpointing the reasons for the slackness seen in 2023, Gary Black, the co-founder and managing partner of Future Fund, attributed it to a combination of higher interest rates, challenges in scaling up production, and consumers’ range anxiety impacting the market.
Black, however, is optimistic about the outlook. He expects U.S. EV adoption rising from 12% currently to 20% in 2024, increasing further to 60% by 2030. This growth is projected to occur as consumers become more familiar with the ease of charging EVs and as concerns about range anxiety diminish.
EV Companies Make Beeline To Tesla Charging: Reflecting on range anxiety, it’s notable that this year both pure-play EV makers as well as legacy automakers warmed up to Tesla’s North American Charging Standard, as they began to see NACS adoption as a win-win proposition. Rivian, Lucid Group, Inc. (NASDAQ:LCID), General Motors Corp. (NYSE:GM) and Ford Motor Co. (NYSE:F) all joined the bandwagon to make life easier for their customers.
The count of adopters for NACS rose dramatically this year, from only one to 28, a change analysts believe could be a significant source of income for Tesla.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
Legacy Automakers Trim EV Ambitions: The year put a speed breaker on the legacy automakers’ ambition to expand their wings into the EV arena. Stymied by the United Auto Workers’ strike that forced Detroit’s auto giants to make additional concessions and the EV demand slowdown, they scaled back their EV plans.
Midway through the year, Ford delayed its goal of reaching an annual EV production target of 600,000 units to 2024, and subsequently, it further reduced its all-electric F-150 Lightning pickup truck production target by half.
Looking Ahead….
As the EV industry is in a state of flux, Tesla “is the only investable EV company” now, fund manager Black said in exclusive comments to Benzinga. No one else, except BYD Company Limited (OTC:BYDDY) (OTC:BYDDF), has figured out how to make money, he said.
The analyst also sees the shakeout in the industry to continue, with Tesla, BYD and Rivian the likely winners and everyone else losing. He sees input costs moderating. Tesla’s average selling price is down 17% year-over-year in 2023, but its cost of goods sold has dropped by a more modest 8%, he said.
Black sees Tesla maintaining EV prices unchanged in 2024. Given the likelihood of interest rates dropping and EV tax credits, taking effect on Jan. 1, 2024, he does not see the need for more price cuts.
Outlining his EV stock picks for 2024, the fund manager said Tesla is best positioned to capture the surge in EV adoption. The Cybertruck launched in late-November, which provided the company a new addressable market, and the likely launch of a $25,000 EV in early 2025 will provide the Elon Musk-led company a better grip on the EV market, he said.
Tesla 'Is The Only Investable' EV Play, Says Analyst, As Electric Vehicle Industry Navigates A Tough 2023: Year In Review
by
Shanthi Rexaline, Benzinga Editor
December 30, 2023 10:28 AM | 6 min read
ZINGER KEY POINTS
Tesla's aggressive price cuts and legacy automakers scaling back EV ambitions were among the major EV themes of 2023.
Tesla is best positioned to capture the surge in EV adoption in 202 and Rivian will emerge strong runner-up, says Future Fund's Gary Black.
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Electric vehicle stocks came under significant selling pressure in 2023 as conditions remained inclement for production as well demand. That said, shares of market leader Tesla, Inc.
TSLA
-1.86%
Get Free Report
rode on a strong first-half performance and doubled during the year.
Here are the key themes that dominated EV space during the year:
Tesla Goes Aggressive With Pricing: With the Fed continuing to take interest rate higher, Tesla smelled trouble and opted to go with the strategy of deep price cutting for most of the first-half of the year. The move produced a ”sugary high” for the stock, which rallied through the first half of the year. Demand, however, proved to be inelastic, not increasing by much.
However, these steep price reductions forced competing startups to a critical point where they had to choose between matching the cuts and exacerbating their already substantial losses, or maintaining their prices and risking a significant decline in revenue.
For Tesla, the price cuts turned out to be a margin-squeezing exercise. The company’s auto gross margin, excluding regulatory credits – aka core auto margin, continued to contract this year. From just under 25% in the fourth quarter of 2022, this metric slid to 16.3% in the third quarter of 2023. As a consequence, Tesla reported a double miss in the quarter.
Rivian’s Pushes Ahead From Startup Crowd: Other than Tesla, the only U.S. electric vehicle stock to end in the green was Rivian Automotive, Inc.
RIVN
.
Chart Courtesy Of Benzinga
When the rest of the startup ecosystem was cutting production amid difficulty in ramp-up and waning demand, Rivian maintained its production forecast for the year, in fact nudging it up slightly in the back-end of the year. The company now expects full-year production of 54,000 units.
The Irvine, California-based company also managed to keep costs in check, and in early November, it narrowed its full-year adjusted EBITDA loss guidance to $4 billion. Rivian ended the third quarter with $9.13 billion in cash, cash-equivalents and short-term investments.
See Also: Best Electric Vehicle Stocks
Slowing EV Adoption: Despite regulatory mandates put in place by some governments across the globe for transitioning to EVs, the industry faced a setback in 2023. Global EV adoption grew, but at a slower pace in 2023 amid a lack of affordability and charging infrastructure bottlenecks.
Looking ahead, the industry is expected to see a further slowdown in 2024. Investment bank Argus expects battery EV and plug-in hybrid sales growth in the U.S. to slow from 50% in 2023 to 37% in the new year, to reach 1.94 million units.
Pinpointing the reasons for the slackness seen in 2023, Gary Black, the co-founder and managing partner of Future Fund, attributed it to a combination of higher interest rates, challenges in scaling up production, and consumers’ range anxiety impacting the market.
Black, however, is optimistic about the outlook. He expects U.S. EV adoption rising from 12% currently to 20% in 2024, increasing further to 60% by 2030. This growth is projected to occur as consumers become more familiar with the ease of charging EVs and as concerns about range anxiety diminish.
EV Companies Make Beeline To Tesla Charging: Reflecting on range anxiety, it’s notable that this year both pure-play EV makers as well as legacy automakers warmed up to Tesla’s North American Charging Standard, as they began to see NACS adoption as a win-win proposition. Rivian, Lucid Group, Inc.
LCID
-1.88%
+ Free Alerts
, General Motors Corp.
GM
-0.83%
Get Free Report
and Ford Motor Co.
F
-1.70%
Get Free Report
all joined the bandwagon to make life easier for their customers.
The count of adopters for NACS rose dramatically this year, from only one to 28, a change analysts believe could be a significant source of income for Tesla.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
"The Best Report Benzinga Has Ever Produced"
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Legacy Automakers Trim EV Ambitions: The year put a speed breaker on the legacy automakers’ ambition to expand their wings into the EV arena. Stymied by the United Auto Workers’ strike that forced Detroit’s auto giants to make additional concessions and the EV demand slowdown, they scaled back their EV plans.
Midway through the year, Ford delayed its goal of reaching an annual EV production target of 600,000 units to 2024, and subsequently, it further reduced its all-electric F-150 Lightning pickup truck production target by half.
Barrons: Tesla Stock Is Set for Long-Term Growth. It’s Much More Than a Car Company.
Initiation of the second Phase 3 OPTIMIZE-2 trial with OCS-01 once daily eye drop, follows the recently reported positive OPTIMIZE-1 trial results
OPTIMIZE-2 topline readout expected before end of 2024 to support NDA submission
OCS-01 is also being evaluated as potentially the first topical eye drop treatment for Diabetic Macular Edema (DME) in the DIAMOND program and for the treatment of Cystoid Macular Edema (CME) in the LEOPARD trial
ZUG, Switzerland, and BOSTON, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Oculis Holding AG (Nasdaq: OCS) (“Oculis” or “the Company”), a global biopharmaceutical company purposefully driven to save sight and improve eye care, today announced First Patient First Visit (FPFV) in OCS-01 Phase 3 OPTIMIZE-2 trial for the treatment of inflammation and pain following cataract surgery. Data from the Phase 3 OPTIMIZE-2 trial is intended to support the Company’s NDA submission to the Food and Drug Administration (FDA). If approved, OCS-01 has the potential to be the first once-daily, topical, preservative-free corticosteroid for treating inflammation and pain following ocular surgery.
The OPTIMIZE-2 (Once-daily Post-ocular surgery Treatment for InflaMmation and paIn to minimiZE drops) is a multi-center, randomized, double-masked, vehicle-controlled Phase 3 trial evaluating OCS-01 for the treatment of inflammation and pain following cataract surgery. Similar to the OPTIMIZE-1 trial, patients in the second Phase 3 OPTIMIZE-2 trial will be treated with once-daily OCS-01 post-cataract surgery versus vehicle for 2 weeks. Primary endpoints are the absence of anterior chamber cells (inflammation) on Day 15 and absence of pain on Day 4. The OPTIMIZE-2 trial follows the positive topline results from the OPTIMIZE-1 trial showing that OCS-01 increased the percentage of patients who were inflammation free at Day 15 and had zero pain at Day 4 vs. vehicle with statistical significance (p<0.0001 for both endpoints), and was well tolerated.
Moreover, the initiation of OPTIMIZE-2 follows the start of Stage 2 of the Phase 3 DIAMOND trial of OCS-01 in DME announced earlier this week, and the commencement of the investigator-initiated LEOPARD trial of OCS-01 in patients with CME announced earlier this year.
Riad Sherif, M.D., Chief Executive Officer of Oculis, remarked: “Initiation of the OPTIMIZE-2 trial preceded by the launch of OCS-02 RELIEF Phase 2b trial in dry eye, and OCS-01 DIAMOND-1 trial in DME in the past couple weeks, highlights our robust pipeline and ability to execute and deliver on commitments. This timely progress also underscores the steadfast advancement of the OCS-01 development program thus far, as well as OCS-01’s potential as an eye drop treatment for both front- and back-of-the-eye diseases. We look forward to the important milestones expected in the year ahead, including four topline clinical readouts from OPTIMIZE-2 and the LEOPARD trials with OCS-01, the RELIEF trial with OCS-02, and from the ACUITY trial in Acute Optic Neuritis (AON) with OCS-05.”
Eric Donnenfeld, M.D., Clinical Professor of Ophthalmology at New York University and Co-chair of Oculis Scientific Advisory Board, said: “I was excited to see the positive efficacy results and the favorable safety profile from the first Phase 3 OPTIMIZE trial and the consistency with the prior Phase 2 results. Once daily OCS-01 could become an attractive option to treat pain and inflammation after ocular surgery with a highly potent anti-inflammatory effect. This could be especially beneficial for high-risk patients, such as diabetic patients, who face an increased risk of complications following ocular surgery due to pre-existing underlying inflammation.”
About inflammation and pain following ocular surgery
Ophthalmic surgeries are on the rise, mainly due to the aging population and lifestyle changes, and are expected to reach close to 10 million procedures per year in the U.S. alone by 20371,2. Cataract surgeries are the most prevalent procedures of all medical specialties with an estimated 5 million procedures in 2021 in the US2. Ophthalmic surgeries cause the release of inflammatory factors and can be associated with ocular pain. Cataract surgery, even with a very small incision, creates inflammation in the cornea, anterior chamber, and iris. Ophthalmologists currently rely on topical steroids to treat ocular inflammation and the full regimen following ocular surgery often includes steroids, antibiotics and NSAID, which can have a different dosing regimen and require several drops daily for a post-op patient to administer, all leading to potential compliance issues.
About OCS-01 eye drops and the OPTIREACH® technology
Leveraging Oculis’ proprietary OPTIREACH® technology, OCS-01 is a novel, high concentration (15 mg/ml), topical formulation of dexamethasone. The OPTIREACH® solubilizing formulation technology addresses the main limitations of conventional eye drops by improving the solubility of lipophilic drugs, increasing the residence time on the eye surface and thereby, enabling less frequent administration for front-of-the-eye and the drug passage from the eye surface to the posterior segment for back-of-the-eye diseases.
1 2016 HCUP procedure volume and growth rate, and corroborated by Rochester Epidemiology Project Paper. Third party market research.
2 Meddevicetracker – Ophthalmic Surgical Products Market 2017.
About Oculis
Oculis is a global biopharmaceutical company (Nasdaq: OCS) purposefully driven to save sight and improve eye care. Oculis’ highly differentiated pipeline comprises multiple innovative product candidates in development. It includes OCS-01, a topical eye drop candidate for diabetic macular edema (DME) and for the treatment of inflammation and pain following cataract surgery; OCS-02, a topical biologic anti-TNFa eye drop candidate for dry eye disease (DED) and for non-infectious anterior uveitis; and OCS-05, a disease modifying candidate for acute optic neuritis (AON) and other neuro-ophthalmic disorders such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. Headquartered in Switzerland and with operations in the US, Oculis’ goal is to deliver life-changing treatments to patients worldwide. The company is led by an experienced management team with a successful track record and is supported by leading international healthcare investors.
For more information, please visit: www.oculis.com
There's been numerous updates since last summer, it's very different now. Not only that but FSD also learns daily from your driving and fixes issues for next time in the same situation! v 12 will be vastly different archtecture and should be out in Jan/Feb
All over the south, highway, city, everywhere. Use it daily? I take it you don't?
I use it every day and it's just awesome.
Tesla Develops A Method For Reducing Cost For Electric Vehicle Production By 50%
December 24, 2023 | by Paul Godwin | 0
Tesla Develops A Method for Reducing Cost for Electric Vehicle Production by 50%
Tesla engineers have developed a new process they expect will reduce the cost of making an electric vehicle by 50 percent. This is a major breakthrough for the company, which has been struggling to achieve profitability and compete with other automakers in the rapidly growing EV market.
The new process involves using a single-piece casting machine to create the entire rear underbody of the vehicle, instead of assembling it from multiple parts. This reduces the weight, complexity and manufacturing time of the vehicle, as well as the number of robots and workers needed.
Tesla claims that this process will also improve the quality and safety of its vehicles, as there will be fewer welds and joints that could fail or corrode. The company claims that this process will enable them to produce electric vehicles that are more affordable, efficient, and sustainable than ever before
Tesla has already installed the giant casting machine, dubbed “Giga Press”, at its Fremont factory in California, and plans to deploy more of them at its other factories around the world. The company says that the Giga Press can produce one rear underbody every 90 seconds, which translates to about 4,000 vehicles per day.
The new process is the result of years of research and development by Tesla’s engineering team, led by Elon Musk, the founder and CEO of Tesla. Musk said that the new process is a game-changer for the electric vehicle market, as it will make electric vehicles more accessible and attractive to consumers. He also said that the new process will help Tesla achieve its mission of accelerating the transition to sustainable energy. He also hinted that Tesla has more surprises in store for its upcoming Battery Day event, where it is expected to reveal new battery technologies and products.
Tesla plans to implement the new process in its upcoming models, starting with the Model 3, which is expected to launch in 2024. The company expects that the new process will lower the price of the Model 3 from $40,000 to $20,000, making it one of the most affordable electric vehicles on the market. The company also expects that the new process will improve the performance, range, and durability of the Model 3, as well as reduce its environmental impact.
Tesla hopes that by lowering the cost of production, it will be able to offer more affordable and attractive EV models to consumers and increase its market share and profitability. The company also aims to achieve its long-term goal of producing 20 million vehicles per year by 2030, which would make it one of the largest automakers in the world.
Tesla’s new process is a major milestone for the electric vehicle industry, as it could potentially disrupt the dominance of traditional gasoline-powered vehicles. Tesla hopes that its new process will inspire other automakers to follow suit and adopt more innovative and sustainable practices. Tesla also hopes that its new process will encourage more consumers to switch to electric vehicles and contribute to the fight against climate change.
$700 by July 4th, $1,000 by year end
White House backs industry effort to standardize Tesla's EV charging plugs
Strong, mostly politically motivated, forces working against Tesla/Musk in coordinated effort. It ain't gonna work
Barclays on Tesla (TSLA): We estimate 4Q deliveries at ~490k units, ahead of consensus ~480k
Barclays analyst Dan Levy reiterated an Equalweight rating and $260.00 price target on Tesla (NASDAQ: TSLA).
The analyst commented: "Expect 4Q deliveries at ~490k units, ahead of cons. ~480k; 2. 4Q production ~472k units, up q/q, implies inventory drawdown; 3. US + EU subsidy reductions could be 4Q volume tailwind via pre-buy; 4. Below cons. on '24 deliveries amid model saturation, rising global discounting, subsidy roll-off."
Shares of Tesla closed at $253.50 yesterday.
I wonder if Lyft is aware of http://nextminute.app as they try to compete with Uber,TaskRabbit, Angi etc. Next Minute is patented and could really give Uber an edge.
I wonder if IAC is aware of http://nextminute.app as they try to compete with Uber, TaskRabbit etc. Next Minute is patented and could really give IAC an edge.
I wonder if Uber is aware of http://nextminute.app as they try to compete with TaskRabbit, Angi etc. Next Minute is patented and could really give Uber an edge.
Orion Portfolio Solutions LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 84.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,412 shares of the electric vehicle producer’s stock after acquiring an additional 24,941 shares during the period. Orion Portfolio Solutions LLC’s holdings in Tesla were worth $14,243,000 as of its most recent filing with the Securities & Exchange Commission.
No cars were recalled but Tesla is doing over the air software update because idiot drivers pay boi attention and set the speed way over the speed limit. Ice cars have cruise control but no protection for idiots
FRENCH GOVERNMENT: the #Tesla (TSLA.O) Model Y model will be added to the list of electric cars eligible for the French incentive program.
I think the actual tape will show the reversal and upwards momentum thats happening
Tesla partners with Uber to offer $3,000 discount on its electric cars to drivers
Virginia Retirement Systems ET AL Takes $88.59 Million Position in Tesla, Inc. (NASDAQ:TSLA)
The Swedish Government Should Respect Tesla
Pierre Lemieux
The Swedish Government Should Respect Tesla
Categories: Economic Philosophy Free Markets Liberty Media Watch Political Economy Regulation and Subsidies
By Pierre Lemieux, Dec 11 2023
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POST:
Opining about Elon Musk’s trade union conflict in Sweden, a Financial Times editorial declares (“Tesla Meets the European Social Model,” December 6, 2023:
Foreign investors need to respect the legal and social rules and the business cultures of the countries where they seek to do business.
Really? A foreign investor in the Jim Crow South should have respected the social rules and laws promoting and enforcing racism? A pre-WW2 foreign investor in Nazi Germany should not have employed Jews at senior levels? A foreign investor in Russia should respect its corrupt business culture? A foreign investor in Islamist countries should respect the legal and social rules mandating the way women may dress or behave? Strange morals!
Or perhaps what the Financial Times’s editorial board meant by “need to” is not normative but merely descriptive: the foreign investors cannot avoid submitting to the power that wields the most force and to the most powerful mobs. That the editorialists immediately added to the sentence quoted above “doing otherwise can harm their brands” may suggest this interpretation. They should still have been clearer in distinguishing between what they think Tesla should do from a moral viewpoint and what the company might need to do in a hostile political environment. We would then be better placed to evaluate their conclusion:
It should be for Musk and his company to adapt to a Swedish model that has a record of working well, rather than for the Swedish model to adapt to Musk.
In this passage, we discern that like all fashionable intellectuals, the Financial Times’s editorialists have a sweet tooth for the Swedish corporatist model in which corporations and trade unions make decisions over the heads of individuals. This model is criticizable from both an economic and an ethical viewpoint.
Let’s carefully distinguish the normative issue (what a foreign investor or, for that matter, a domestic one should do) from what it must submit to. Of course, a corporation must adapt to what its customers want and to the customs of individuals with whom it directly interacts in a foreign country. The more authoritarian a national state is, including with its own subjects, the more an investor must expect to submit to that state if it wants to do business there. But, as I suggested, there are obviously moral limits—the should—to such submission.
Note that in a more or less free country, a foreign or domestic corporation is not doing business with “the country” but with specific individuals: its customers, employees, and investors. If the corporation deals with the government, it is to smooth over the obstacles that, typically, the same government (or another level in the same government) raises or can raise against its voluntary contractual arrangements. As usual, the introduction of individuals in the analysis changes the perspective. The Swedish government should respect Tesla for the simple reason that individual Swedes voluntarily work for the company or buy its cars, and nobody is forced to.
From a moral and political-philosophical point of view consistent with the maintenance and promotion of a free society, I would argue the opposite of the Financial Times’s claim. It is the Swedish government and the unions to which it has outsourced some of its coercive power who should respect the “culture” of a foreign investor who finds individual Swedes willing to exchange with him—provided only that basic rules of honesty are followed.
CFO just resigned
German trade union IG Metall labeled IF Metall’s strike against Tesla Sweden illegal. IG Metall shared its perspective on the Tesla Sweden vs. IF Metall issue.
Germany’s trade union IG Metall turned down Swedish union IF Metall’s call to action against Tesla.
“That would be illegal. You strike for your own business, for your own wages. A political strike would mean violating the duty to work, and then the employer could take action against the employees,” said IG Metall spokesman Markus Sievers.
Most Tesla Sweden employees have chosen to stay out of IF Metall’s strike. They have cited many reasons to continue working, including good working conditions and decent wages. IF Metall has argued that the collective agreements are culturally significant in Sweden, despite Tesla employees’ opinions.
IG Metall has a different perspective.
“If IG Metall got to decide, Tesla’s employees would have a collective agreement. But the initiative must come from the employees,” said the press spokesperson for the German union.
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Elon Musk bets a $25,000 EV ‘revolution’ with Tesla Model 2 production
Elon Musk offered a few intriguing details about this highly anticipated vehicle, hinting at the advanced stage of development and a production process unlike anything
While the Cybertruck may have stolen the headlines recently, Tesla's upcoming $25,000 car, tentatively called the Model 2, is quietly shaping up to be the real game-changer. In a recent interview, Elon Musk offered a few intriguing details about this highly anticipated vehicle, hinting at the advanced stage of development and a production process unlike anything seen before.
Tesla's Model 2, the company's upcoming $25,000 car, is expected to be a game-changer in the electric vehicle market and showcase Tesla's cutting-edge manufacturing technology. Elon Musk, the CEO of Tesla, recently revealed some details about the Model 2's production process in an interview with Sandy Munro, a veteran automotive engineer and analyst.
Tesla’s push into supercomputers, potentially worth $500 billion in added market value, just suffered a big blow after its chief departs
BYEDWARD LUDLOW, MARK GURMAN AND BLOOMBERG
December 7, 2023 at 2:15 PM EST
Tesla CEO Elon Musk.
MICHAEL M. SANTIAGO/GETTY IMAGES
Tesla’s Dojo supercomputer project lead Ganesh Venkataramanan has left the company, according to people familiar with the matter, a setback to the automaker’s self-driving technology efforts.
Venkataramanan, who has led the Dojo project for the last five years, departed the EV maker last month, the people said, asking not to be identified discussing confidential information. Peter Bannon, a former Apple Inc. executive and director at Tesla for the last seven years, is now leading the project.
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Tesla Chief Executive Officer Elon Musk and representatives for the company didn’t immediately respond to requests for comment.
The Dojo system is a Tesla-designed supercomputer made to train the machine learning models behind the EV maker’s self-driving systems. The computer takes in data captured by vehicles and processes it rapidly to improve the company’s algorithms. Analysts have said Dojo could be a key competitive advantage, and earlier this year Morgan Stanley estimated it could add $500 billion to Tesla’s value.
Musk has said the carmaker plans to invest more than $1 billion on Project Dojo by the end of 2024. The Tesla leader first shared plans for the supercomputer in 2019 before formally announcing it in 2021.
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Dojo is powered by a custom D1 chip designed by Venkataramanan, Bannon and a slew of other big names from the silicon industry. Venkataramanan previously worked at Advanced Micro Devices Inc., while Tesla has several other veterans from the chip designer on staff. The recently departed executive set up Tesla’s AI hardware and silicon teams in 2016.
In recent weeks, Tesla also installed hardware for Dojo at a centralized location in Palo Alto, California, two of the people said. Dojo has relied on multiple data centers in different locations.
As of Wednesday, Venkataramanan was no longer appearing in Tesla’s internal directories, one of the people said. At least one other member of the group has also left. The reason behind the departures couldn’t immediately be learned, but they pose a blow to the expensive and technologically advanced project.
Tesla previously relied on supercomputers from Nvidia Corp. to power its AI-based systems, while Dojo would compete with offerings from Hewlett Packard Enterprise Co. and IBM. In July, Tesla said it started production of the Dojo supercomputer system. It’s being manufactured by Taiwan Semiconductor Manufacturing Company Ltd., the same builder of chips that Apple uses.
Last year, another key artificial intelligence player from Tesla departed: Andrej Karpathy, who led AI efforts at the carmaker. Karpathy has since joined OpenAI.
1 Electric Vehicle Stock to Buy Hand Over Fist in December
Motley Fool - Wed Dec 6, 6:45AM CST
If you're looking to invest in electric vehicles (EVs), there's one glaring option available in the market: Tesla (NASDAQ: TSLA). While other up-and-coming EV makers and legacy companies are starting their transition to an electric fleet, Tesla still stands above its competition in terms of investment quality. It's not a perfect investment, but Tesla is still the top EV stock to buy right now. Here's why.
Its margins have been under pressure recently
Tesla is far and away the leader in the U.S. EV market. In the third quarter, over 313,000 EVs were sold, up nearly 50% from last year. Of those EVs, about half were Teslas. This shows Tesla's dominance, and a new product could widen its lead.
With Cybertruck deliveries now beginning, Tesla has another revenue stream that will be activated after investing a lot of money into its EV truck line. It could also help reverse a concerning trend for Tesla investors.
One of Tesla's biggest advantages over its legacy rivals was its gross margin. Tesla's input costs were much lower than those of its competitors, so it could produce a greater gross profit. However, now that Tesla has slashed prices to stay competitive with other options in a rising interest rate environment, its gross margin has deteriorated to the point where it's nearly in line with traditional automakers.
TSLA Gross Profit Margin (Quarterly) Chart
TSLA Gross Profit Margin (Quarterly) data by YCharts
However, some of the highest-margin vehicles for makers like General Motors and Ford Motor Company are their pickup trucks, which often have gross profits over $10,000 per vehicle. This far outweighs the margins on typical sedans, making it worth paying attention to what kind of profit margins investors can expect from the Cybertruck.
If Tesla can pull off superior margins with its truck, it will receive a much-needed gross margin boost. But even if it doesn't, having a strong pickup offering is key for competing in the U.S. market, as the top three selling vehicles so far in 2023 are the pickup lines from the Big Three in Detroit: Ram, Chevy Silverado, and the Ford F-series. Now that Tesla has a viable option, it could capture some market share as the other three introduce their EV pickups.
But even without pickups in its lineup, Tesla is still doing fine. In Q3, its production numbers were up 18%, and deliveries increased by 27%. But because of price cuts, its revenue only rose by 9% while net income declined by 44%.
Investors will need to keep an eye on prices, but if Tesla can raise prices once interest rates rise, it will clearly demonstrate whether the company has pricing power. If Tesla can exercise this practice, it will solidify the stock as a solid investment. Additionally, Tesla has the upside of full self-driving (FSD) capability on a subscription product that could bring in massive revenue once it's fully built out.
Tesla's stock is incredibly expensive
But many of those points are in the future; what about now? An investment in Tesla is an investment in the future; there's no way around it. The stock's current valuation makes no sense to investors with a short-term mindset.
TSLA PE Ratio Chart
TSLA PE Ratio data by YCharts
Tesla's 77 times trailing and 75 times forward earnings are incredibly high valuations to pay for any company, let alone an automaker. So if you're looking for a short-term bargain, Tesla isn't your stock.
However, if you think it can raise prices once interest rates decline, capture a chunk of the American truck market, and deploy FSD or other long-shot Tesla technologies, then the valuation makes more sense. Tesla is a five-year investment -- at minimum -- unless something drastic changes with the company.
I still think Tesla is the top EV stock in the market, but you must have a long-term mindset if you're going to invest in it.
Good fud considering ev sales in US is up 50% from 22 to 23. This is indeed mostly because of Tesla
Tesla’s China Factory Sees 30% Annual Sales Jump in November
Alex Diaz
1 hour ago
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Tesla has reported a remarkable sales performance in China for the month of November. The company successfully sold 82,432 vehicles that were manufactured from its Giga Shanghai factory. This figure is part of a significant upward trend in Tesla’s sales within the country, notes @Tslachan.
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Specific breakdowns of actual production, retail and export numbers are coming soon.
Looking at the broader picture, from January to November, Tesla’s cumulative sales of China-made vehicles reached an impressive total of 853,603 units. This marks a substantial increase of 30.31 percent compared to the same period last year. The surge in sales underlines Tesla’s growing dominance and popularity in the Chinese electric vehicle market, one of the largest and most competitive markets globally.
Looking at Tesla’s sale’s in China last week, there were 3,300 new Model 3 vehicles registered, to go with 14,100 Model Y vehicles. Tesla’s final month of the year is usually when new incentives are released to boost sales numbers.
For now, it looks like Tesla may hit its annual production goal of 1.8 million vehicles, assisted by the Giga Shanghai team, which is busy producing the new Model 3 that’s being sold domestically and for export to Europe and Asia-Pacific.