🚀 Bearish TSLA numbers

Hey S3XY 🧤, Yes, first week of quarter is always low; yes, the week had 3 days holiday in China; yes, price increase from 1st April lead to slow week.
But get this, newly entered Xiaomi sold almost 1.1K, Nio 2.1K, Li 5.6K and BYD 45.2K (not just BEVs of course) in the same week in which Tesla registered just 1.9K units.
And fact of the matter is that those days are gone long back when Elon use to chant “Tesla is not constrained by demand but supply“, given that Giga Shanghai is operating well below its production capacity & Giga Mexico is delayed on solely Tesla’s call.
Autonomy has to be Tesla’s MOAT going forward but as of today if Tesla were to grow and stay relevant in ‘auto manufacturing business‘, it has to refocus bit upon launching newer models and expanding its product mix in the face of Chinese and legacy competition.
Although note that export data from past week is still awaited and it must/would be good but man these Chinese registrations numbers should have been better given Tesla’s lead for all these years.
Having said that, If internally; Elon had already shifted all of company’s focus upon autonomy, energy and robotics while discarding 20M vehicle output goal, then it’s all good and these numbers are pretty irrelevant in long term.

And some other highlights from today’s letter 📨:

• Ferrari sets up battery research unit.

• Australia bombarded with Chinese EVs.

• Robotaxi jobs at Tesla.

• Tesla vs Waymo.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Ouch: Tesla China insurance registration for last week i.e. April 1 - 7 came in at just 1907 units, that’s -72.8% YoY (same week last year).

Recruitment: Tesla recruiting for ‘Prototype vehicle operators’ across multiple US cities.

Really? Elon on issues with IF Metall, Sweden.

Lawsuit: Tesla has settled a lawsuit over a 2018 car crash that killed an Apple engineer, operating on Autopilot, as per court documents.

Trial cities: These cities would get Tesla Robotaxi before its global domination.

Efficiency: All it takes is 4 days from delivery to opening a new supercharger site.

Autonomy: Tesla vs Waymo, how they stack up against each other.

Roadblocks: IF Metall via ‘Seko’ successfully blocks expansion of Tesla’s supercharging locations in Sweden.

Opening up: Superchargers sites are going to get a lot busier.

WHISPERS

Elon’s supercut version of yesterday’s talk with timestamps.

Robotaxi - a major TSLA growth catalyst.

Eric Jang, VP AI at 1x Technologies; talks all about humanoids.

Truck Parade in LA.

Numerology - 8/8.

INDUSTRY FILES

Driving Innovation: Ferrari teams up with University of Bologna for breakthrough battery research.

Discounts: Fisker slashes prices by about 40% for ‘Ocean’ in Canada.

Made in China: About 80% of EV sales in Australia is fulfilled by China.

Batteries: Panasonic Energy is discussing a potential joint venture with Indian Oil to produce electric vehicle (EV) batteries in India.

Expansion: Nio is moving ahead with its internationalization efforts with the opening of a smart driving technology center in Germany.

Transformation: Kia to remain ambitious for transforming into EVs but to also focus upon hybrids.

Fire sale: Lucid offers upto $30K discounts to clear its ‘Air’ inventory.

G-Wagon: Mercedes to unveil its long-awaited electric G-Class at the Beijing Motor Show later this month.

Milestone: Nio today added a new battery swap station in Guangzhou, bringing the total number of the facility in China to 2,400.

THAT’S THOUGHTFUL

The connection between General Electric and NBC. Yes NBC.
👇🏻

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