🚀 Tesla insider turns competitor

Hey S3XY 🧤, In the current layoff season, Tesla had seen some significant departures as well; one such long time employee is Paril Jain.
Jain served as a lead within Tesla's AI division, specifically overseeing planning, Imitation Learning, and Reinforcement Learning initiatives. Prior to this role, Jain held a senior position as a Machine Learning engineer within the company.

He along with Kyle Vogt, yes the ‘Cruise‘ guy; co-founded the new robotics company whose initial focus would be upon building personal home robot before venturing out into specialised robots.
The founding team also includes Micael Carvalho, who is also ex-Tesla and was senior ML scientist at Tesla for about 5 years. Few other team members came in from initial Cruise team.

The startup has already made waves in the investment community, securing an impressive $150 million in its inaugural funding round. Notable backers include Daniel Gross, Nat Friedman, Patrick and John Collison of Stripe; signaling confidence in the venture's potential.

Bot industry is evolving very fast and Tesla is poised to have some legit competition in the space. Though TAM is beyond imagination for vast majority of people and unquantifiable right now.
It will be an very exciting decade ahead for sure.

And some other highlights from today’s letter 📨:

• VinFast stock pops.

• GM restarts ‘Cruise‘.

• Tesla advertises but not 'cars'.

• Refreshed Kia EV6 unveiled.

Let’s take a dive..👇🏻

$TSLA CHART

TESLA BULLETS

Bots are coming: After serving as planning head at Tesla AI, Paril Jain quits Tesla to co-found bot.co with Kyle Vogt (founder of Cruise). And they raised (just) $150 million as their maiden round!

Warning: China Soochow Securities Co. warns Chinese auto majors about shortened time window to catch up with Tesla.

Beast Baron: Tesla contributes in some way to almost all of Ron Baron’s funds, one of which holds a whooping 29.3%.

All in to get votes: Along with autonomy Tesla sure is going ‘balls to the wall’ for getting shareholders vote.

Seriously? When friend visits you all the way from China just to experience FSD; time to hunt for new friends I guess.

Numbers: Tesla's China registrations came in at 9.8K units for week May 6 - 12, that’s about flat at -2% YoY.

Signup: This is one of the best unofficial Tesla FSD performance tracker, join to make contribution into the future.

WHISPERS

If you care about robots, take some time out and (must) watch this.

Is Tesla subscription service on the way?

just another use case.

Elon is a ‘serial tasker’.

Why it’s very early to interpret anything from Unitree’s $16k robot unveil.

INDUSTRY FILES

Why? GM’s self-driving car unit ‘Cruise’ restarts testing on public roads.

Big launch: The designer of Bentley Continental GT Mr. Raul Pires has worked on to craft beautiful Nio ONVO L60 which is scheduled to be launched tomorrow.

Hybrids: Porsche 911 Hybrid is going to premiere on 28th May, teaser here.

Oil love: Mercedes wants to stop development of its large electric technology platform.

Beautiful: The all new refreshed Kia EV6 is here and it’s amazing.

Frenzy: Vinfast stock popped whooping +51.5% yesterday, though note that it’s ridiculously illiquid.

Backsteps: With losses piling up, Ford is cutting back on EV battery orders.

Stellantis JV: Leapmotor International will begin operations to sell electric vehicles globally from September 2024.

Capacity expansion: Xiaomi is reportedly increasing orders to its supply chain as it works to ramp up production capacity.

THAT’S THOUGHTFUL

His journey from prison to President.
👇🏻

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