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☆ Mexico makes lots of electric cars, but few Mexicans drive them
▼ + stars: | 2023-03-21 | by ( Aida Pelaez-Fernandez | ) www.reuters.com time to read: +5 min

General Motors Co, Ford Motor Co, BMW and Volkswagen's Audi unit also are producing EVs in Mexico, or plan to. "There are still a number of issues that need resolving in Mexico before there's a massive influx of electric cars," said Mario Hernandez, KPMG's lead manufacturing partner in Mexico. Hernandez said drawbacks included a lack of subsidies for buyers, high costs for installing charging devices at homes and a shortage of public charging stations, vital for longer journeys. Mexico has about 1,100 charging stations nationwide, mostly in the capital and other major cities, according to AMIA. Pedro Corral, director of operations for EV charging stations platform Evergo, drives his all-electric i3 BMW around Mexico City.

☆ Twitter employees nicknamed a Tesla executive 'the Elon whisperer' because of his ability to read Elon Musk's mood, report says
▼ + stars: | 2023-03-17 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Twitter staff nicknamed a Tesla exec "the Elon whisperer" because of his ability to read Elon Musk's mood. Omead Afshar, the Tesla exec, joined Twitter late last year, according to the Financial Times. Omead Afshar, who once led Tesla's Gigafactory in Austin, joined Twitter last year and is part of Elon Musk's tight inner circle, according to the Financial Times. Afshar has been helping Musk with "the biggest, stickiest issues at the company," according to the report. According to The Information, Musk's company is at least $70 million behind on a five-year contract it signed with Amazon Web Services in 2020.

☆ Wall Street Journal: Elon Musk is planning to build his own town
▼ + stars: | 2023-03-09 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

Entities connected to Elon Musk and his companies have reportedly been acquiring thousands of acres of land in Texas with the hope of starting a town where his employees could live and work, according to a report from the Wall Street Journal Thursday. (CNN has not reviewed all of the land and other records cited in the Journal report.) By building out a company town of his own, Musk could take that approach even further. Incorporating a town might also give Musk, who has been known to clash with state and federal regulators, more say over how things are run. The Journal reported that Musk’s team has discussed incorporating the town in Bastrop County.

☆ U.S. regulators investigating Tesla after steering wheels detach from two moving vehicles
▼ + stars: | 2023-03-08 | by ( Ashley Capoot | ) www.cnbc.com time to read: +2 min

A worker checks Tesla Model Y electric vehicles loaded onto a freight trailer at the Tesla Inc. Gigafactory in Gruenheide, Germany, on Saturday, Jan. 21, 2023. Photographer: Liesa Johannssen/Bloomberg via Getty ImagesThe National Highway Traffic Safety Administration has opened an investigation into Tesla after it received two complaints that steering wheels detached in 2023 Model Y vehicles while people were driving. "Both vehicles were delivered to the owners missing the retaining bolt which attaches the steering wheel to the steering column," the NHTSA said. He later said the Tesla dealership called him and apologized, and the driver shared a photo of a replacement Model Y that he received on Feb. 23. The investigation into Tesla is a first step before the NHTSA could demand a vehicle recall.

☆ Elon Musk's dream of producing 20 million Teslas per year hangs on whether or not it can pull off a major shift in battery tech
▼ + stars: | 2023-03-08 | by ( Hasan Chowdhury | Asia Martin | ) www.businessinsider.com time to read: +7 min

Tesla wants to make lower cost electric vehicles, as a key part of its plan to fend off challenger. Still, given Tesla's delivery of roughly 1.3 million vehicles last year, it clearly has a long way to go to hit Musk's goal. The growing portion of Tesla's LFP vehicles have, in part, been the result of a deal it struck with Chinese battery supplier CATL in 2020. Tesla and the rush for lithiumA lack of supply chain controls hinders efforts to produce low-cost EVs. The company started to take steps towards taking control of lithium supply into its own hands.

☆ U.S. investigates Tesla for steering wheels that can fall off
▼ + stars: | 2023-03-08 | by ( ) www.cnbc.com time to read: +3 min

U.S. auto safety regulators have opened an investigation into Tesla 's Model Y SUV after getting two complaints that the steering wheels can come off while being driven. A friction fit held the steering wheels on, but they separated when force was exerted while the SUVs were being driven. The owner wrote that there were no cars behind him, and he was able to pull toward the road divider. The complaint has a link to a Twitter posting from the owner that included a video of the detached steering wheel and pictures of the white Tesla being towed. The U.S. Justice Department also has asked Tesla for documents from Tesla about "Full Self-Driving" and Autopilot.

☆ Tesla could begin producing autos in Mexico next year -Mexican official
▼ + stars: | 2023-03-06 | by ( ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowMEXICO CITY, March 6 (Reuters) - Tesla Inc (TSLA.O) could begin producing its first cars in Mexico next year, with the electric vehicle maker close to receiving its final permits allowing factory construction to begin in Nuevo Leon near the U.S.-Mexico border, the state's governor said on Monday. Tesla Chief Executive Elon Musk announced the investment last week, saying the Austin, Texas-based company had selected Mexico for its next "gigafactory" with plans to produce a "next gen vehicle." Mexican officials have said the factory will be the world's biggest to produce electric vehicles, with investment worth $5 billion. "The president, by authorizing and backing Tesla, sent a message to the world that they should come to Mexico." Reporting by Daina Beth Solomon in Mexico City Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Mexico can't match U.S. incentives for proposed Tesla battery plant, minister says
▼ + stars: | 2023-03-04 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, March 3 (Reuters) - Mexico would not be able to match the incentives offered under a U.S. act to tame inflation if Tesla Inc builds a battery plant in the country, Mexico's finance minister said on Friday, days after Tesla announced the construction of a "gigafactory" there. Tesla (TSLA.O) has not confirmed whether it will also build a battery plant in Mexico, but local officials say Tesla has visited the central states of Hidalgo, Queretaro and Puebla to scout potential sites. A decision on a battery plant in Mexico has yet to be announced. "The battery plant was not in (Tesla's) original plan, it was the Mexican government's suggestion," Ramirez said. Without legislation, Ramirez said, Mexico would not be able to match U.S. incentives.

☆ Volkswagen board discusses two new North America plants at meeting - sources
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

Companies Volkswagen AG FollowHAMBURG, March 3 (Reuters) - Volkswagen's (VOWG_p.DE) supervisory board will on Friday discuss plans for two new factories in North America, one production plant and one battery cell factory, two people familiar with the matter said. While the committee is expected to approve a site for its Scout brand in the United States, discussions around a gigafactory are open-ended, the sources said. Separately, Volkswagen CEO Oliver Blume in December said the carmaker had begun searching for a site for a battery cell factory in North America, adding Canada was "one logical option" due to its raw material resources. "We are still working hard to find a suitable location for our first gigafactory in North America and are in good, constructive talks," a Volkswagen spokesperson said on Friday, adding no decision has been made yet. Reporting by Jan Schwartz; Writing by Christoph Steitz, Editing bz Miranda Murray and Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Site of Tesla Mexico factory near double size of Texas plant, local official says
▼ + stars: | 2023-03-03 | by ( Daina Beth Solomon | ) www.reuters.com time to read: +2 min

Jesus Nava, the mayor of Santa Catarina in the state of Nuevo Leon, said in an interview that Tesla is purchasing the site from private owners. He said the land spans nearly 4,200 acres in an industrial zone, more than double the size of Mexico City's international airport. Tesla's factory in Austin, Texas - one of three existing Tesla vehicle plants - sits on 2,500 acres, according to Tesla's website. Nava said Tesla will reveal what vehicles it will produce at the Nuevo Leon factory when it breaks ground, which it plans to do in three months. Tesla uses recycled water, and such companies typically use minimal liters of water per second, he added.

☆ Tesla investor is blown away after visit to Texas factory and calls new battery one of the most important technologies ever
▼ + stars: | 2023-03-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Ross Gerber praised Tesla's battery advances after touring the Austin Gigafactory this week. In particular, he noted the footprint for production of the 4680 battery has come down in size considerably. "So the 4680 cell is probably one of the most important technological advances in modern history," Gerber told CNBC. "So the 4680 cell is probably one of the most important technological advances in modern history," he said . Gerber's praise of Tesla's battery production advances comes after he briefly pursued a seat on the company's board, citing concerns about CEO Elon Musk's leadership and help the company "grow up."

☆ Elon Musk unveiled Tesla's 'Master Plan 3,' hinted at new cars, and confirmed the company's push into Mexico during Tesla's first-ever Investor Day
▼ + stars: | 2023-03-02 | by ( Grace Kay | Samantha Delouya | ) www.businessinsider.com time to read: +4 min

Elon Musk debuted his "master plan" during Tesla's first-ever Investor Day presentation. The factory will be located "near Monterrey," according to Musk, who reiterated that Tesla plans to expand production at all of its factories. The news was confirmed during Tesla's first-ever Investor Day at the company's Austin Gigafactory, where Musk unveiled Tesla's "third master plan." In the past, Musk has said Tesla eventually plans to sell an electric car for about $25,000. Musk initially unveiled the truck in 2019 and has since pushed back the production timing 3 times, according to Reuters.

☆ Elon Musk's new Master Plan for Tesla should've introduced cheap EVs. Instead, we got a whole lot of nothing.
▼ + stars: | 2023-03-02 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

The world is waiting for cheap EVs, but Tesla isn't ready to deliver — yet. Elon Musk's EV company held an Investor Day in Texas that had everything but cheap EVs. He needs one now — and fast — as competitors are putting the pedal to the metal in their own quests for low-cost EVs. On the investor front, low-cost EVs help make Tesla a truly global phenomenon. But the lack of any firm details on a cheap EV made for a puzzling omission from what was meant to be a showcase of Tesla's offerings.

☆ Elon Musk predicts Tesla's humanoid 'Optimus' robots will eventually outnumber humans
▼ + stars: | 2023-03-02 | by ( Samantha Delouya | ) www.businessinsider.com time to read: +2 min

Elon Musk predicted that Tesla's AI-powered humanoid robots would one day outnumber humans. "I don't think there's anyone even close to Tesla on solving real-world AI," Musk said. Musk first revealed Tesla's "Optimus" robots in 2021, though the prototype was revealed to be a person in a bodysuit. "You could sort of see a home use for robots, certainly industrial uses for robots, humanoid robots," he said. Wednesday's update showed a more advanced version of the AI robot which walked and completed tasks.

☆ Tesla's plan to slash silicon carbide use sends some chipmakers' shares down
▼ + stars: | 2023-03-02 | by ( Lora Kolodny | ) www.cnbc.com time to read: +4 min

Shares in some chipmakers dipped on Thursday after electric vehicle maker Tesla said it plans to greatly reduce the use of silicon carbide transistors in its next-generation vehicle powertrains. Campbell revealed that, "In our next powertrain, the silicon carbide transistors that I mentioned, that are key component[s] but expensive, we figured out a way to use 75% less without compromising the performance or the efficiency of the car." Chips made with silicon carbide transistors are widely used in electric vehicles. They added the possibility that "cheaper [silicon carbide chips] could drive up EV adoption globally so what vendors lose on content could be partially offset by greater EV volumes." New Street does not expect a lower-priced, next generation Tesla vehicle to "ramp in volumes before 2025 or 2026."

☆ Tesla's investor day showed it is 'one generation ahead' of rival automakers in EV race, former Ford CEO says
▼ + stars: | 2023-03-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Former Ford CEO Mark Fields saw Tesla's investor day as reaffirming the automaker's reign over the EV industry. Though the event lacked details on new models, it demonstrated the company's leadership in key areas, he told CNBC. The keys to winning the EV race will come down to product appeal, software or user interface, controlling cost, and consistent execution, he said. "And Tesla right now is one generation ahead of the other automakers," Fields said, though rivals like Ford and Hyundai are making a lot of progress. However, Fields predicted that the EV industry will eventually have no one leader as the market continues to strengthen.

☆ Tesla's investor day brings hopes Elon Musk will reveal cheap cars, robotaxis, and a new Master Plan. Here's what people are watching for.
▼ + stars: | 2023-03-01 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +4 min

Hopes are building for big announcements from Elon Musk and Tesla at its investor day Wednesday. Master Plan 3, robotaxis, cheap EVs and solar power are thought to be high on Musk's list. Speaking on CNBC's "Squawk on the Street" on Monday, Ark Invest CEO and Tesla backer Cathie Wood said this would be a cornerstone of the Investor day. Solar PowerTesla may also continue to build out its symbiotic relationship with renewable energy generation at its investor day, targeting sustainable sources to pump electricity into its vehicles. In a tweet last month, the company teased the idea of a Tesla ecosystem: energy generation, energy storage & electric vehicles.

☆ Exclusive: Tesla readies revamp of Model Y codenamed 'Juniper'
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +4 min

Companies Tesla Inc FollowSHANGHAI/SAN FRANCISCO, March 1 (Reuters) - Tesla (TSLA.O) is readying a production revamp of its top-selling Model Y, according to three people with knowledge of the plan. The automaker has not commented on its product strategy or any planned model changes. Tesla did not immediately comment when asked by Reuters about the plans for the Model Y, which was its best seller in California, China and Europe last year. Tesla has already been working to retool its Shanghai assembly plant to prepare for a revamped version of its Model 3 sedan, a project codenamed Highland by Tesla, Reuters has reported. It was not immediately clear how sweeping the revamp would be or what specific changes or improvements Tesla was looking to deliver with the new Model Y.

☆ I worked in Tesla's Nevada Gigafactory. I loved my job, and it had little to do with Elon Musk.
▼ + stars: | 2023-03-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +6 min

A Tesla production associate said they loved their job at the Gigafactory in Sparks, Nevada. They said their work was challenging and inspiring, and rarely directly involved Tesla CEO Elon Musk. Working at Tesla isn't all about Elon MuskI wish people understood that working at Tesla is not like what you see in the news. The production associate said their work had little to do with Elon Musk. The people that pushed carts with supplies could get 20,000 to 30,000 steps and it could be a really labor intensive job.

☆ Exclusive: Tesla readies revamp of Model Y codenamed 'Juniper' - sources
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +4 min

☆ Meet the 4 men tipped to run China’s economy
▼ + stars: | 2023-03-01 | by ( Laura He | ) edition.cnn.com time to read: +8 min

Hong Kong CNN —The team of Communist Party officials running China’s economy is about to get a major makeover. They include the four men tipped to manage the world’s second biggest economy: Li Qiang as premier, Ding Xuexiang as executive vice premier, He Lifeng as vice premier and Zhu Hexin as the new central bank chief. That puts the 63-year-old in line to succeed Premier Li Keqiang when he steps down during the upcoming congress. Li would be the first premier since the Mao era not to have previously worked at the State Council, China’s cabinet, as vice premier, analysts say. Stringer/ICHPL Imaginechina/AP/FileThe 68-year-old would succeed Vice Premier Liu He, who led China’s negotiations with the United States during trade talks in 2018 and 2019.

☆ Premarket stocks: Meme stocks have revolutionized investor days
▼ + stars: | 2023-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But they’re also bowing to pressure from retail investors to be more transparent. What’s happening: Investor days evolved from analyst days — meetings that large, public companies historically held privately for their core institutional investors and Wall Street analysts. But the recent influx of retail investors into the stock market has changed that. “A lot of these companies know they need to focus on retail investors now,” said Katie Perry, general manager of investor relations at investing platform Public. ▸ Tesla’s first-ever investor day will be live-streamed Wednesday from its Gigafactory in Austin, Texas.

☆ The road to Tesla's first Mexico factory
▼ + stars: | 2023-02-28 | by ( Brendan O'Boyle | ) www.reuters.com time to read: +2 min

2022June 13: News outlet Electrek reports that Tesla Chief Executive Elon Musk told workers the company is considering sites in Canada and Mexico for a new factory. Feb. 8: Lopez Obrador says Nuevo Leon and Hidalgo states could be home to a new Tesla plant. Feb. 17: Ebrard says Tesla will soon confirm it has chosen Mexico as a location for a new plant. Feb. 24 and 27: Musk and Lopez Obrador speak in calls as Mexico and Tesla near investment deal. Reporting by Mexico City Newsroom; Writing by Brendan O'Boyle; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

☆ Australia's Recharge Industries buys failed battery firm Britishvolt
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Feb 27 (Reuters) - Australia's Recharge Industries said on Monday it had bought Britishvolt, the collapsed startup which had struggled to fund a major electric vehicle (EV) battery factory in northern England. Recharge Industries, privately owned by New York-based investment fund Scale Facilitation, was selected earlier this month as the preferred bidder for Britishvolt, which had outlined plans for a 3.8 billion pound ($4.54 billion) gigafactory. Britain's ambitions of building a home-grown EV battery industry that can support domestic car production were thrown into doubt when Britishvolt collapsed in January, after failing to raise enough funding for the factory in Cambois. "We have the right plan in place, to match and support the region's energy and ambition to become a major player in the international battery market." Recharge Industries, which is building a lithium-ion cell factory in Australia expected to begin production next year, emerged as Britishvolt's buyer following a bidding process that saw multiple offers.

☆ Tesla scales back German battery plans, won over by U.S. incentives
▼ + stars: | 2023-02-21 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

BERLIN, Feb 21 (Reuters) - Tesla (TSLA.O) has paused plans to produce entire batteries in Brandenburg, Germany, and will instead carry out some production steps in the United States where tax incentives are more favourable, the Brandenburg economy ministry said on Tuesday. The U.S. carmaker had originally planned to produce the full battery at the Gruenheide site in Germany, with a peak capacity of over 50 gigawatt hours per year. But with the United States offering electric vehicle makers sourcing batteries from within the United States tax breaks and consumer discounts, the company has changed course. "Tesla has started its battery system production in Gruenheide and is preparing to manufacture battery cell components. The company has prioritized further production steps in the USA because tax incentives make business conditions more favorable there," the Brandenburg economy ministry said in a statement.

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