🚀 China's significance to Tesla

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Hey S3XY 🧤, China's role in Tesla's global strategy is pivotal, contributing a quarter of its revenue and driving significant unit sales and production. As Tesla looks ahead, its reliance on China is poised to grow further, with upcoming models to be produced in the region and expanding demand anticipated.

Anticipation mounts for Full Self-Driving (FSD) clearance in China, opening doors to Tesla's entry into the robotaxi market. Moreover, the establishment of another Megapack factory underscores China's importance in the global energy storage sector, with the majority of production set for domestic sales.

Tesla's commitment to China signals a long-term partnership, driving continued growth and innovation. As Tesla solidifies its presence in the region, its reliance on China's market and resources will remain central to its global strategy.

And some other highlights from today’s letter 📨:

• Model 3 Performance lands in Europe.

• Porsche’s falling margins.

• Kia refreshes EV6.

• Tony Seba to drop robot report.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Dojo things: New Tesla patent just got published titled “Cooled system-on-wafer with means for reducing the effects of electrostatic discharge and/or electromagnetic interference”.

Ludicrous: Tesla began delivering the recently unveiled Model 3 Performance in Germany marking the first units to reach Europe.

Still tiny: Australia reported 2,077 Tesla sales and 2.1% market share for April.

Hosting partners: Tesla hosted the very first Megapack installer day.

Price hike: After US, Tesla Korea now has raised the price of its Model 3 performance by about $1,000.

All about data: Tesla’s scope of partnership with Baidu revolves around mapping and data compliance.

Popular: Tesla has launched the new Quicksilver Model Y color in the U.S. for $2,000 extra.

New market: Tesla has reportedly been granted permission to sell automotive emission credits domestically in South Korea starting this year.

Play: Talk about simulating a game in a Tesla.

Giant: This chart by Bloomberg would help you estimate where Tesla Energy is headed.

WHISPERS

Elon on Tesla’s compute efficiency.

Pedestrian tests, Chinese version.

Supercharger theories are here to stay for a while. This one focuses upon wireless charging.

FireTruck.

Tesla Semi factory progress video.

INDUSTRY FILES

That looks bad: Q1, 2024 is a fifth quarter in a row wherein Porsche witnessed decline in net margins.

Watch out: Tony Seba is about to drop his insights on humanoid robots soon.

Discounts: Costco auto program is selling some EVs and PHEVs at discounted prices.

German auto: Audi's BEV sales dropped in Q1 to 35630 units, that’s -35.7% QoQ but remains slightly up with +3.0% YoY.

Jump: Ford managed to increase its EV sales by 129.2 % in April compared to the same month last year.

Special discounts: Chevy is offering a $4,000 discount for owners and lessees of Teslas and other EVs for the 2024 Blazer EV but with some quirky conditions.

Redesign: Kia released teasers today of the refreshed EV6, which follows its corporate cousin the Hyundai Ioniq 5 with some exciting new updates.

Incentives: Rivian wins $827M incentive package to expand Illinois factory for R2 production.

THAT’S THOUGHTFUL

Revisit the very early days of twitter.
👇🏻

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