🚀 Tesla Energy Set to Skyrocket!

Hey S3XY 🧤, This morning Tesla broke ground on another Megapack factory in China. Tesla's Shanghai Megafactory is expected to go into production in the first quarter of 2025, with Megapack production of up to 10,000 units per year and nearly 40 GWh of energy storage, Tom Zhu said.

The factory represents an important step in Tesla's global layout in energy storage and a testament to its key role in the global energy transition tide.
This move would essentially double up Tesla Energy business from current standing to full within about a year and half.

Following the ceremony, the Lingang Group also signed an agreement with Tesla for China's first batch of ultra-large electrochemical commercial energy storage systems, Megapack. This signifies the beginning of a new journey for Tesla's business in China.

And some other highlights from today’s letter 📨:

• Xiaomi’s growing autonomy team.

• Tesla appears in Nvidia’s call.

• VW ID.7 US launch delayed.

• Jeep teases new E-SUV.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Energy: Tesla broke ground on a mega factory in Shanghai on Thursday to manufacture its energy-storage batteries.

Order book: Lingang Group completed an order agreement with Tesla for China's first commercial energy storage system Megapack.

Safest: Tesla has finally decided to release its Autopilot safety data report after taking a break of more than a year and results clearly depict superiority of FSD.

Incentives: See how much Tesla Model Y qualifies for National and local government subsidies in Korea.

Lawsuit: Is this another lawsuit looming over Tesla on discrimination and racial abuse grounds?

Hiring: Tesla jobs are back, atleast can say for autopilot and robotics category.

Dependence: Tesla has told suppliers for its models sold outside China to start building components and parts outside of both China and Taiwan by as early as next year.

Chips: Nvidia CFO Corlette Kress, spoke about how tech giant played pivotal role in Tesla’s AI infrastructure expansion which ultimately lead to remarkable performance of FSD.

Delighted: Norway's Trade and Industry Minister, along with his delegation, visited Tesla's Giga Shanghai plant and were delighted to tour the Model Y assembly workshop and production line.

Vote: Whooping 24% of Tesla investors on platform ‘eToro’ voted, the average voting turnout is below 2% for other companies. Though still too low given the situation.

Solar: SunPower, America's highest-rated residential solar energy company, today announced it will now be offering Tesla Powerwall 3.

WHISPERS

Jensen talked about Tesla and self driving post Nvidia’s Q1 call.

Fire while charging.

Lightning Beast.

Tesla as a safety car on the race track.

This is what Elon thinks about $2K TSLA in five years.

INDUSTRY FILES

Tariff wars: China signaled it’s ready to unleash tariffs as high as 25% on imported cars with large engines, as trade tensions escalate with the U.S. and European Union.

Competition: Jeep teases Wagoneer S electric SUV, due to launch this fall and is already comparing it with Tesla Model Y.

Busting FUD: Nice breakup of average cost to repair key electric vehicle components.

Delays: VW’s flagship electric sedan was initially scheduled to arrive at U.S. dealerships in Q3 2024. Now, its future is uncertain.

Leader: Xiaomi EV, the electric vehicle unit of Chinese smartphone giant Xiaomi, is upping its bet on smart driving, bringing in an industry veteran.

Personal best: Volkswagen ID.7 receives historic top score in ADAC vehicle test.

Autonomy: Xiaomi's smart driving team has now surpassed 1,000 people, with plans to add an extra 500 by the end of the year.

Unveil: Kia on Wednesday revealed the production-bound version of its EV3 compact electric crossover that might, if Kia keeps to original hints, would start around $35,000.

THAT’S THOUGHTFUL

Wayne on management style.
👇🏻

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