Tesla will remain dominance in EV industry for the next 5 years...
There are many new tech announced on Tesla Investor Day (TID 2023). I'll just highlight 3 of my favourites and explain what they meant to us as investor:
1. Rare Earth
"We have designed our next drive unit to use a permanent magnet motor to not use any rare earth materials at all," said Colin Campbell, VP of powertrain engineering, noting that the new drive unit cost has been reduced to $1,000. Those savings could, in theory, be passed onto the consumer to make for a more accessible, affordable EV.
Personally I think this is a good strategic move as it will be less reliant on rare earth which is controlled by a few countries (70% produced by China Rare earths: production share by country 2022 | Statista )
2. Magic Dock
... formally introduced Magic Dock, an upgrade to Tesla's charging stations which opens them up to vehicles that aren't Teslas. Rolling out the tech will enable Tesla to tap into billions in federal subsidies.
As expected, Tesla want to take advantage of the billion dollars Green Energy Federal subsidies.
3. Optimus
Musk stated that Optimus will be worth significantly more than the car side of things. Optimus is trained using the same AI that trains Tesla's Autopilot and FSD, and Musk detailed how even much of the hardware for Optimus is taken from Tesla's cars.
Musk putting its best resources to build humanoid robot, Optimus shows his determination to optimise its AI technology. I think mass production of Optimus is coming sooner than expected.
Bottom line
Some people expressed dismay that TID 2023 didn't specify timeline and blame the post market share price dropped was due to its vagueness. I disagree... First TID 2023 presents company's fundamental strength and may not reflect in share price immediately. Second Tesla's rivals (Xpeng and Nio) share price also didn't perform well after the release of earnings which shows that market sentiment towards EV companies in general is negative currently.
1. Rare Earth
"We have designed our next drive unit to use a permanent magnet motor to not use any rare earth materials at all," said Colin Campbell, VP of powertrain engineering, noting that the new drive unit cost has been reduced to $1,000. Those savings could, in theory, be passed onto the consumer to make for a more accessible, affordable EV.
Personally I think this is a good strategic move as it will be less reliant on rare earth which is controlled by a few countries (70% produced by China Rare earths: production share by country 2022 | Statista )
2. Magic Dock
... formally introduced Magic Dock, an upgrade to Tesla's charging stations which opens them up to vehicles that aren't Teslas. Rolling out the tech will enable Tesla to tap into billions in federal subsidies.
As expected, Tesla want to take advantage of the billion dollars Green Energy Federal subsidies.
3. Optimus
Musk stated that Optimus will be worth significantly more than the car side of things. Optimus is trained using the same AI that trains Tesla's Autopilot and FSD, and Musk detailed how even much of the hardware for Optimus is taken from Tesla's cars.
Musk putting its best resources to build humanoid robot, Optimus shows his determination to optimise its AI technology. I think mass production of Optimus is coming sooner than expected.
Bottom line
Some people expressed dismay that TID 2023 didn't specify timeline and blame the post market share price dropped was due to its vagueness. I disagree... First TID 2023 presents company's fundamental strength and may not reflect in share price immediately. Second Tesla's rivals (Xpeng and Nio) share price also didn't perform well after the release of earnings which shows that market sentiment towards EV companies in general is negative currently.
Personally I think TID 2023 has achieved it's goal that is it shows Tesla is sustainable and will remain dominance (in term of cost, AI tech, Solar energy etc) in the EV industry for the next 5 years at least. $Tesla(TSLA.US$
Source:
https://sg.finance.yahoo.com/news/everything-elon-musk-execs-shared-023653889.html?clientlang=2
Source:
https://sg.finance.yahoo.com/news/everything-elon-musk-execs-shared-023653889.html?clientlang=2
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I reflected trading experiences by writing journals. My comments are for educational purposes not financial advice.
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