At the Tesla 2023 Shareholders Meeting Elon Musk made several key announcements. Here's a brief recap of what he said. Next Gen Drive Unit. The announcement of the next-gen drive unit was the first more noteworthy one among a few. As already stated before, during the development stage, this next-gen drive unit uses zero rare earth materials. It requires 75% less Silicon Carbide and reduces gigafactory footprint by...

17 May 2023

CNBC reports that Elon Musk has broke ground on a Tesla lithium refinery that is planned to be built in Corpus Christi, Texas. Gov. Greg Abbott also attended the ceremony. Tesla will invest USD 3.75 million in this project as one of the company's steps to secure a domestic supply of lithium hydroxide for its batteries. The report cites Elon Musk who said that this refinery should provide enough lithium for Tesla to...

9 May 2023

In the first quarter of this year, Tesla produced over 440,000 vehicles and delivered over 422,000 vehicles. The company continues to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC. Tesla will post its financial results for the first quarter of 2023 after the market close on Wednesday, April 19, 2023.

4 April 2023

Tesla's 2023 Investor Day offered several interesting pieces of information. For starters, during the time for vehicle design, Tesla presented in detail how it optimized the manufacturing process starting from design to the assembly resulting in decreasing the "nothing-to-do" time and more than 40% reduction in manufacturing footprint. Thus the company will build factories faster, with less CapEx and more output per...

3 March 2023

The latest Coutnerpoint research of the EV market noted down that Tesla is clearly leading the US EV market, and ts Q3 2022 "eclipsed the next 15 brands combined." The overall US EV sales grew by almost 52% YoY during Q3 2022 despite macroeconomic headwinds. BEV sales grew by more than 78% YoY during Q3 and constituted over 80% of the total US EV sales. Tesla sales in the US grew by more than 56% YoY during the...

5 January 2023

Tesla has announced its fourth-quarter results for 2022. In this period, the company has produced over 439,000 vehicles and delivered over 405,000 vehicles. In 2022, vehicle deliveries grew by 40% YoY to 1.31 million while production grew by 47% YoY to 1.37 million. Tesla continued to transition towards a more even regional mix of vehicle builds which again led to a further increase in cars in transit at the end of...

3 January 2023