🚀 Tesla China Production Dips!

Hey S3XY 🧤, Tesla's Giga Shanghai has reported production numbers for April, totaling 63,711 units—a decline of approximately 25% from the 84,947 units produced in April of the previous year. Cumulatively, production for 2024 stands at 287,359 units through April, compared to 303,486 units during the same period last year.

This production decrease is particularly noteworthy as it reflects the true demand in the Chinese EV market, absent of any factory shutdowns, holidays, or other disruptions. The stagnant market share underscores the increasing competition Tesla faces from local Chinese manufacturers.

And some other highlights from today’s letter 📨:

• Supercomputer cluster at Giga Texas.

• Franz shows off Model 3 Performance.

• Uber CEO sells his shares.

• Audi and SAIC comes together.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Dojo: Per Elon, a portion of Gigafactory Texas will be used for super dense water cooled supercomputer cluster.

Layoffs: Tesla lures its Korean employees to resign voluntarily, by offering two month’s additional salary along with basic severance pay.

Going vertical: Tesla might build battery plant in Indonesia after Elon met with Indonesian President Joko Widodo.

Ludicrous: Franz walks around Model 3 Performance and explains it’s design details.

Autonomy: Former UK Prime Minister Boris Johnson amazed as he experiences Tesla’s FSD for the first time.

Numbers: Tesla China produced 63,711 vehicles in April, that’s down -25% YoY.

Secondhand: Used Tesla Cybertruck markups plummet as hype cycle cools down.

Flyover: If anyone is flying over Austin even by night, they would soon be able to see ‘Tesla’. 

WHISPERS

Elon’s speech at World Water Forum, Indonesia.

Recycling economics of battery.

Kid Rock brings CyberTruck to concert.

Argentina's President Javier Milei has something to say about Elon musk.

CyberTruck taken off the road.

INDUSTRY FILES

Robotaxi: CEO of Uber, Dara Khosrowshahi sells big chunk of his Uber shares.

Ouch: Mercedes Benz plant in Düsseldorf, the contracts of 1,250 temporary workers are not being extended due to low demand and a lack of orders.

Settlement: Chevrolet Bolt EV from the 2017 through 2022 model year are likely eligible for an amount ranging from $700 to $1,400, as part of a $150 million settlement amount against GM and LG Energy Solution.

Coming together: SAIC and Audi are combining their resources to jointly develop a series of EV models, with the first product expected to go on sale in 2025.

Charging Infra: VinFast partners with Bosch to access 700,000 charging points across Europe.

Preparation: Ford is investing in employee training for BlueOval City. It is specifically training workers for BlueOval City’s EV assembly plant in Tennessee.

Results: Li Auto reported a significant decline in revenue and net income in the first quarter as deliveries declined, and guidance for the second quarter fell short of Wall Street expectations.

THAT’S THOUGHTFUL

Brian Tracy’s speech that you must listen.
👇🏻

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