Baillie Gifford praises Tesla’s new leadership, says new CFO is great fit for Elon Musk


Tesla’s (NASDAQ:TSLA) second-largest shareholder, Baillie Gifford, has been consistent with its support of the electric car maker, with James Anderson, a senior partner at the firm, even calling out the unethical activities of the company’s critics last year. Anderson spoke about Tesla again recently during an interview with Barron’s, where he discussed his insights on the company’s current leadership.

Anderson is among the investment world’s most prominent players, overseeing about half of the $37 billion Vanguard International Growth Fund (VWIGX), together with Baillie Gifford’s Tom Coutts and a team from Schroders. During his interview with the publication, Anderson talked about a meeting he had with Tesla Chair Robyn Denholm, whom he met following another interview where he stated that he wouldn’t be against Elon Musk leaving the CEO post and taking another role in the company.

“I went to see Tesla and met with the new chair. You can imagine we discussed this. It was plain to me that Tesla needed to strengthen some of the other voices on the board and encourage a greater degree of understanding on the part of Mr. Musk about his responsibilities. The new chairman made it clear she regards him as a good chief executive,” he said.

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Anderson emphasized that Tesla is being led by a stronger team today. He took particular note of Amazon alumnus Sanjay Shah, who has a clear view of the company’s battery and energy front. The Baillie Gifford senior partner also praised Tesla’s new CFO, Zach Kirkhorn, for his close working relationship with Elon Musk. “I like the chief financial officer, who, although young, has the kind of relationship with Musk that allows him to tell Musk things,” Anderson said. 

Kirkhorn took over the CFO duties of Deepak Ahuja, who announced his retirement (for the second time) following the company’s fourth-quarter earnings call. The 34-year-old Kirkhorn’s appointment as Tesla’s CFO proved polarizing, with Tesla critics taking issue with his age and supporters of the company praising him for his years of experience with the company. Despite his age, Kirkhorn has worked for Tesla for years, starting since the days of the original Roadster.

Since his appointment, the new CFO has been visible, participating in Tesla’s first quarter earnings call and joining Elon Musk in an investor call following the company’s announcement of a capital raise. During these sessions, Kirkhorn proved active, responding to inquiries directly in the Q1 earnings and explaining Tesla’s guidance during the investor call.

Apart from providing his insights on Tesla’s leadership, Anderson also noted that Tesla could have raised capital during a far more ideal position. Despite Tesla holding its capital raise at a time when its stock is significantly down, the Baillie Gifford senior partner noted that they remain supportive of Tesla nonetheless. “Ideally, we prefer companies to raise capital when confidence and share prices are high; otherwise they have to issue more shares to raise the same amount of capital. Obviously, Tesla’s share price today is considerably lower than it was eight or nine months ago, but we remain supportive shareholders,” he said.

As of writing, Tesla stock is trading +2.35% at $232.35 per share.

Disclosure: I have no ownership in shares of TSLA and have no plans to initiate any positions within 72 hours.

Baillie Gifford praises Tesla’s new leadership, says new CFO is great fit for Elon Musk


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Tesla vandals laugh as they damage a Model 3 while Sentry Mode is actively recording


Tesla’s Sentry Mode has captured its own fair share of shocking incidents, but a recent video from a parked Model 3 in Old Sacramento, CA, possibly takes the cake. In a video of the incident, two adult men could be seen deliberately keying the electric sedan, laughing about the act between themselves, then coming back to damage the Model 3 some more.

Footage of the incident was shared on the r/TeslaMotors subreddit by Tesla community member u/pingish, who noted that the event happened last Thursday, May 9. Based on the video of the incident, the two men seemed to have noticed a scratch on the door of their Dodge Ram truck, which was parked beside the Tesla Model 3. Seemingly assuming that the electric sedan was responsible for the damage to their vehicle, one of the men responded by keying the electric car.

The two men could be seen laughing amongst themselves as the Model 3’s front cameras recorded them. After a few seconds, the men came back to the Model 3, where one opened the Dodge Ram’s door hard into the electric sedan’s side, denting the vehicle. The first man who initially keyed the car came back for more as well, adding some scrapes to the Model 3 for good measure.

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This incident could very well be the most shocking Sentry Mode video yet, as the deliberate nature of the attack could hardly be denied. It would be difficult to argue that the men accidentally damaged the Model 3 as well, since they came back to scratch and dent the vehicle a second time. Perhaps the biggest irony in the whole incident is that one of the vandals was wearing a “Merica” shirt, since Tesla is arguably the most American carmaker in the United States today, employing American workers and building cars on American soil. Old Sacramento is in California as well, which is quite saturated with Teslas.

Unfortunately, the r/TeslaMotors subreddit member noted that Sentry Mode was not able to catch the plate number of the vandals’ Dodge Ram due to the gaps in the recorded footage. Nevertheless, considering the clarity of the video and the fact that it happened in the vicinity of several local businesses, there might be hope of identifying the perpetrators behind this shocking vandalism incident.

Tesla attracts both avid supporters and passionate critics, but even among the most active TSLA and TSLAQ members, people could agree that deliberately damaging another person’s property is never acceptable behavior. The perpetrators of this incident have their personal reasons why they chose to key and dent the Model 3. Perhaps they have a grudge against the vehicle’s owner, or maybe they just have a severe dislike for the company. But ultimately, both men would have been better off reading the message on the Model 3’s display notifying them that their actions were being recorded on camera. Had they done so, perhaps they would have thought twice about damaging the electric sedan.

Watch a Tesla Model 3 get deliberately keyed and dented in the video below.

Tesla vandals laugh as they damage a Model 3 while Sentry Mode is actively recording


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Tesla battery partner Panasonic debunks rumors about alleged Gigafactory 1 conflicts


Panasonic Corporation President Kazuhiro Tsuga effectively debunked speculations alleging that the Japanese company’s relationship with American electric car maker Tesla is on the rocks. During a recent Q&A session, Tsuga explained the dynamic between Tesla and Panasonic, as well as his insights about the idea of the electric car maker utilizing another battery supplier for Gigafactory 3.

The relationship between Tesla and Panasonic was thrown into question following a report from the Nikkei Asian Review last month, which alleged that the Japanese company was freezing its investments in Gigafactory 1. Tesla responded to the report, stating that there is far more output to be gained by improving the existing production lines in the Nevada-based factory. Elon Musk took to Twitter as well, stating that Panasonic’s lines at Gigafactory 1 are only operating at ~24 GWh per year despite having a theoretical capacity of 35 GWh.

Musk’s tweets were promptly interpreted as a “public battle” with Panasonic. Craig Irwin of Roth Capital Partners noted that “Tesla and Panasonic need couples counseling ASAP,” adding that “this is looking like a much more acrimonious relationship.” Tsuga, for his part, mentioned that Tesla and Panasonic maintain a “very good relationship between ourselves” during the Q&A session. Explaining further, the Panasonic President pointed out that the two companies have always been candid with each other, especially when it comes to investments in facilities such as Gigafactory 1.

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“(In) the earlier session with the media, there was a question as to (whether) we have (a) bad relationship, (or if) we’re not getting along with Tesla. Well, we are making sure that we have a partnership relationship, not a supplier relationship. And since we are partners, we are very frank and candid and honest to each other. So on this battery business, as for the investment facilities — for the facilities that we have invested, can we maintain the battery operation with the orders coming in? From Tesla’s point of view, with the batteries being supplied, they can manufacture their vehicles on a full capacity basis.

“Unless that is established, this would not be a win-win relationship. In the past, what hurt us (was) that we were told that ‘This is the capacity you’ll need,’ but we couldn’t sell that much batteries. That’s the worst case. And that sense, Tesla is purchasing everything that we manufacture. And they have not just the electric vehicles but they do have the storage batteries as well, and they are asking for the capacity increase all the time. And therefore, we have capacity but not being produced. That situation is not envisioned for Gigafactory for now. So I think we have a very good relationship between ourselves,” Tsuga said.

Other concerns that were brought forward on the heels of the Nikkei report were Panasonic’s speculated issues about Tesla’s potential local battery partner in Gigafactory 3. Tesla is speculated to utilize a local battery supplier for the Shanghai-based electric car production facility, a strategy that analysts such as Cairn Energy Research Advisors managing director Sam Jaffe believed would irk Panasonic. “Tesla is starting to flirt with other battery makers in China, and Panasonic doesn’t like that,” Jaffe said in a statement to the Los Angeles Times.

Panasonic President Tsuga expressed a completely different sentiment about the topic, noting that it makes sense for Tesla to adopt a multiple supplier model for Gigafactory 3. “Now because of what happens in China, Tesla is considering a multiple supplier structure, which makes sense for Tesla maybe given the very special nature of doing business in China, and maybe they need to have that structure so as to be approved by China authority. So on the part of Tesla, they might prefer — they might start considering getting multiple suppliers, but that doesn’t mean that our relationship is being hurt and is being unstable, no. We continue to have very solid, very strong relationship with Tesla,” Tsuga said.

Panasonic and Tesla have been in a close working relationship for years. The Japanese company currently produces the battery cells for Tesla’s vehicles, from the 18650 cells used in the Model S and Model X to the 2170 cells utilized in the Model 3. Considering the recent statements of the Panasonic President, as well as Tesla’s ramp of its existing and upcoming products, it appears that the two companies’ partnership will likely remain strong for some time to come.

Tesla battery partner Panasonic debunks rumors about alleged Gigafactory 1 conflicts


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The Tesla Effect is reaching critical mass, and it could put Big Oil on the defensive


Headed by vehicles like the Tesla Model 3, the electric car revolution is showing no signs of stopping. The auto landscape today is very different from what it was years ago. Before, only Tesla and a few automakers were pushing electric cars, and the Model S was proving to the industry that EVs could be objectively better than internal combustion vehicles. Today, practically every automaker has plans to release electric cars. EV startup Bollinger Motors CEO Robert Bollinger summed it up best: “If you want to start a (car company) now, it has to be electric.”

Catalysts for a transition

A critical difference between then and now is that veteran automakers today are coming up with decent electric vehicles. No longer were EVs glorified golf carts and compliance cars; today’s electric vehicles are just as attractive, sleek, and powerful than their internal combustion peers. The auto industry has warmed up to electric vehicles as well. The Jaguar I-PACE has been collecting awards left and right since its release, and more recently, the Kia Niro EV was dubbed by Popular Mechanics as the recipient of its Car of the Year award.

A survey by CarGurus earlier this year revealed that 34% of car buyers are open to purchasing an electric car within the next ten years. A survey among young people in the UK last year revealed even more encouraging results, with 50% of respondents stating that they want electric cars. Amidst the disruption being brought about by the Tesla Model 3, which has all but dominated EV sales since production ramped last year, experienced automakers have responded in kind. Volkswagen recently debuted the ID.3, Audi has the e-tron, Hyundai has the Kona EV, and Mercedes-Benz has the EQC. Even Porsche, a low-volume car manufacturer, is attracting the high-end legacy market with the Taycan.

At this point, it appears that Tesla’s mission is going well underway. With the market now open to the idea of electric vehicles, there is an excellent chance that EV adoption will only increase from this point on.

Tesla CEO Elon Musk unveils the Tesla Semi. (Credit: Tesla)
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Big oil feels a change in the wind

Passenger cars are the No.1 source of demand for oil, and with the potential emergence of a transportation industry whose life and death does not rely on a gas pump, Big Oil could soon find itself on the defensive. Depending on how quickly the auto industry could shift entirely to sustainable transportation and how seriously governments handle issues like climate change, “peak oil” could happen a couple of decades or a few years from now. This could adversely affect investors in the oil industry, who might be at risk of losing their investments if peak oil happens faster than expected. JJ Kinahan, chief market strategist at TD Ameritrade, described this potential scenario in a statement to CNN. “Look at what happened to the coal industry. You have to keep that in the back of your mind and be vigilant. It can turn very, very quickly,” the strategist said.

Paul Sankey of Mizuho Securities previously mentioned that a “Tesla Effect” is starting to be felt in the oil markets. According to the analyst, the Tesla Effect is an increasingly prevalent concept today which states that while the 20th century was driven by oil, the 21st century will be driven by electricity. This, together with the growing movements against climate change today, does not bode well for the oil industry. Adam White, an equity strategist at SunTrust Advisory, stated that investors might not be looking at the oil market with optimism anymore. “A lot of damage has already been done. People are jaded towards the industry,” he said.

Prospective oil developments have been fraudulently overvalued, as claimed by a Complaint filed against Exxon. (Photo: Pixabay)

An analysis from Barclays points to the world’s reliance on oil peaking somewhere between 2030 and 2035, provided that countries keep to their low-carbon goals. The investment bank also noted that peak oil could happen as early as 2025 if more aggressive climate change initiatives are adopted on a wider scale. This all but makes investments in oil stocks very risky in the 2020s, and this risk gets amplified if electric vehicles become more mainstream. Sverre Alvik of research firm DNV GL described this concern. “By 2030, oil shareholders will feel the impact. Electric vehicles are likely to cause light vehicle oil demand to plunge by nearly 50% by 2040,” Alvik said.

Some of today’s prolific oil producers appear to be making the necessary preparations for peak oil’s inevitable decline. Amidst pressures from shareholders, BP, Royal Dutch Shell, and Total have expanded their operations into solar, wind, and electric charging, seemingly as a means to future-proof themselves. On the flipside, there are also big oil players that are ramping their activities. Earlier this month, financial titan Warren Buffet, who recently expressed his skepticism towards Elon Musk’s plan of introducing an insurance service for Tesla’s electric cars, committed $10 billion to Occidental Petroleum, one of the largest oil and gas exploration companies in the United States.

A Point of No Return

The auto industry is now at a point where a real transition towards electrification is happening. Tesla’s efforts over the years, from the original Roadster to the Model 3, have played a huge part in this transition. Tesla, as well as its CEO, Elon Musk, have awakened the public’s eye about the viability of electric cars, while showing the auto industry that there is a demand for good, well-designed EVs. Nevertheless, Tesla still has a long journey ahead of it, as the company ramps its activities in the energy storage sector. If Tesla Energy mobilizes and becomes as disruptive as the company’s electric car division, it would deal yet another blow to the oil industry.

At this point, it is pertinent for veteran automakers that have released their own electric cars to ensure that they do not stop. Legacy carmakers had long talked the talk when it came to electric vehicles, but today, it is time to walk the walk. German automaker Volkswagen could be a big player in this transition, as hinted at by the reception of its all-electric car, the ID.3. The ID.3 launch was successful, with Volkswagen getting 10,000 preorders for the vehicle in just 24 hours. The German carmaker should see this as writing on the wall: the demand for EVs is there.

The Volkswagen ID.3. (Credit: Volkswagen)

The Volkswagen ID.3 is not as quick or sleek as a Tesla Model 3, nor does it last as long on the road between charges. But considering its price point and its badge, it does not have to be. Volkswagen states that the ID.3 will be priced below 40,000 euros ($45,000) in Germany, which should make it attainable for car buyers in the country.  If done right, the ID.3 could be the second coming of the Beetle, ultimately becoming a car that redeems the company from the stigma of the Dieselgate scandal. Thus, it would be a great shame if Volkswagen drops the ball on the ID.3.

Tesla will likely remain a divisive company for years to come; Elon Musk, even more so. Nevertheless, Tesla and what it stands for is slowly becoming an idea, one that connotes hope for something better and cleaner for the future. And if history’s victories and tragedies are any indication, once something becomes an idea, an intangible concept, it becomes impossible to kill.

The Tesla Effect is reaching critical mass, and it could put Big Oil on the defensive


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Porsche Taycan Turbo first ride teases production specs and price, Turbo S and RWD GTS variant


Porsche recently granted Automobile Magazine a rare test ride in the Taycan Turbo, the top-tier variant of the company’s first modern all-electric car. The test drive provided what could only be described as the closest look yet at the upcoming vehicle, and based on the impressions of the magazine; it appears that the Taycan Turbo could very well become one of Porsche’s most iconic cars yet.

Porsche designed the Taycan with the same principles as its other vehicles. It’s luxurious inside and out, it handles like a sports car, and it is quick — very, very quick. The motoring magazine highlighted this in its test ride, stating that the vehicle has a habit of pushing drivers and passengers back into their seats when it accelerates from 0-60 mph in just over 3 seconds. The publication also noted that the Taycan is more reminiscent of the Porsche 911 than Porsche’s four-door flagship, the Panamera, based on the way the car handled itself despite its weight.

While the Taycan is undeniably impressive, the test ride did raise a particular concern for the vehicle: it’s charging infrastructure, which remains a work in progress. The Taycan could be charged with up to 250 kW at an 800V charge point, but there are only a few charging stations with that output today. Even 400V stations, which can charge the Taycan at around 150 kW, are still relatively few. One can only hope that Porsche can secure the Taycan’s charging infrastructure by the time the vehicle’s production version is unveiled this coming September.

A render of the Porsche Taycan’s production version. (Credit: St00k/Taycanforum.com)
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Perhaps most notable from the publication’s test drive were the details of the electric car that were revealed by the carmaker. For one, all Taycans, regardless of trim, are equipped with coated PSCB brakes, though carbon ceramic options are available. Similar to other electric vehicles, the Taycan is capable of regenerative braking as well, though the vehicle’s maximum regeneration is an impressive 250 kW. Higher-tier models also boast features like air suspension and rear-wheel steering.

Porsche is yet to fully announce the final specs of the Taycan, though a brand ambassador has confirmed the contents of a document obtained by the Automobile listing the features and specs of each Taycan version. According to the document, the base Taycan will be Rear Wheel Drive only, and it will be equipped with an 80 kWh battery pack. The base Taycan will be powered by a choice of 240-kW (322-hp) and 280-kW (375-hp) motors, and it will command a price in the low ~$90,000 range.

A render of the Porsche Taycan’s production version. (Credit: St00k/Taycanforum.com)

The vehicle’s mid-range variant, the Taycan 4S, will reportedly be equipped with a 96 kW battery pack and 320-kW (429-hp) or 360-kW (483-hp) electric motors. Pricing for the Taycan 4S will reportedly start in the high ~$90,000 range. The Taycan Turbo, which will be the vehicle’s top-of-the-line version upon its release, will reportedly feature a 96 kWh battery, a 160-kW (215-hp)/221-lb-ft motor up front, and a 300-kW (402-hp)/405-lb-ft motor at the rear. Pricing for the Taycan Turbo is expected to start at ~$140,000.

The Porsche Taycan is expected to be unveiled sometime this coming September, with the company offering the base, 4S, and Turbo versions to customers. At least two other variants of the Taycan will reportedly be unveiled later, one of which is a pretty insane 540-kW (724-hp) Turbo S version and a lighter RWD GTS trim that will most likely be incredibly fun to drive on the track. Porsche is also planning on improving its charging infrastructure in the near future, with peak charging rates for the vehicle increasing from 250 kW to 350 kW by 2021 at the latest.

The Porsche Taycan is arguably one of the most anticipated vehicles in the electric car market this year, particularly as it is one that has the potential to directly challenge the Tesla Model S in the premium EV segment. Porsche is moving full throttle to prepare for the Taycan’s production and ramp, with the company drastically upgrading its Zuffenhausen site to accommodate the manufacturing of the vehicle.

Porsche Taycan Turbo first ride teases production specs and price, Turbo S and RWD GTS variant


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Tesla-approved body shop shares close look at Model 3 repair and restoration


A Tesla-certified body shop from Austin, TX recently provided a unique look at the work that goes behind the repair and restoration process of a Model 3 with a damaged B-Pillar. As could be seen in a time-lapse video of the Model 3’s repair, the team from the body shop spent several days refitting the electric car with OEM parts, restoring it to showroom condition before handing it over to its owner.

The team that handled the vehicle’s repair, Autocraft Bodywerks, has been fixing Teslas for years. The shop noted that the repair and restoration of a Tesla are not as simple as that of internal combustion vehicles, with the electric cars requiring specialized training in aluminum welding and adhesive and mechanical joining tech. This specialized training was in full view in the recently shared time-lapse footage, as the Autocraft team could be seen carefully working on the vehicle to return it to its original state.

The Model 3 featured in the video was a Long Range variant that was involved in a traffic accident last October. The electric car was T-boned right in the middle during the incident, damaging the left side B-Pillar, as well as the left front and left rear doors. The entire repair procedure took a considerable amount of time, from the removal of the damaged pillar to the complete reassembly of the vehicle. Reassembly was no joke either, with the Tesla-certified body shop putting back the vehicle piece by piece, from its doors to its glass roof.

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Considering that the Model 3 was T-boned late last year, the entire repair process still took a considerable amount of time. Autocraft Bodywerks noted that they only used OEM parts for the vehicle’s restoration, which could have contributed to the extended repair time for the Model 3. Tesla, for its part, has been pledging to improve its vehicles’ repair times, mainly as its fleet is currently growing at an unprecedented pace due to the Model 3’s ramp.

Tesla’s vehicles are among the safest on the road, with the company’s entire lineup being awarded stellar safety ratings from agencies like the National Highway Traffic Safety Administration (NHTSA). Among the factors that contributed to these ratings are the vehicles’ bodies, which are primarily made of aluminum. Aluminum has several advantages over common materials used in cars such as steel, such as lighter weight and great energy absorption during impacts, but the material is also notoriously difficult to work with. Thus, Tesla requires body shops such as Autocraft to undergo training and certification before they were greenlighted to perform repairs on the company’s vehicles.

Elon Musk has pledged to make the repair process of Tesla’s vehicles a lot faster and smoother, even noting that the company is aiming to achieve 24-hr turnaround times for vehicle repairs. Tesla has already accomplished these feats for minor repairs at its in-house body shops, though the program is yet to see a wide rollout. The company has also noted that it is doubling its service capacity this year to accommodate more vehicles.

Watch a Model 3 undergo a complete restoration in the time-lapse video below.

Tesla-approved body shop shares close look at Model 3 repair and restoration


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Tesla’s sketchpad Easter Egg to get animation support, says Elon Musk


Tesla’s sketchpad Easter Egg may be getting an upgrade to include animation support, according to CEO Elon Musk. In response to a Twitter suggestion for the capability, complete with a GIF made from photos of the sketchpad screen, Musk agreed to the idea and gave the notion of “proper art software” a full endorsement.

“Completely agree. Every Tesla should have good art & music creation software,” Musk tweeted.

Responses to Musk’s positive reception to the idea were full of suggestions. Some Twitter fans pointed to programs already available using Tesla’s chromium web browser while others made additional Easter Egg suggestions, such as a selfie app. A few users even advocated for making Tesla’s software open source to enable community-created applications, or at the very least, opening the software up for third party development of Easter Eggs.

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Sketchpad was released with firmware version 8.1 and is accessed by pushing the “T” logo at the top of the Tesla center touchscreen three times. Once opened, users can create basic sketches with a provided color palette using their fingers as a writing instrument. The overall functionality of the program is reminiscent of MS Paint, a native Windows program with basic graphic creation and editing capabilities.

While in its current form, sketchpad lacks the bells and whistles that usually accompany drawing software, but Tesla owners and enthusiasts have still managed to find very creative ways to use it. Last year, a couple whose shared love for the brand meant expected Tesla ownership in their future together, and the groom-to-be used that part of their plans for a creative marriage proposal. He rented a Model 3 and popped the question on the sketchpad program, spelling out “Will you marry me?” on the Easter Egg’s screen. She said yes, of course.

Easter Eggs are well known for the added fun they bring to the type of all-electric vehicle ownership only a Tesla can provide. Elon Musk has said several times that his company’s cars are intended to be the most fun things anybody can buy, and including things like “Romance Mode” and “Toilet Humor” in vehicle updates are a nod to that purpose. Romance Mode displays a fireplace in the center touchscreen, plays romantic music, and blasts the car’s heaters to “set the mood.” Toilet Humor allows a selection of custom fart noises to be played from any of the car’s seats as specified by the user.

Perhaps one of the most notable Easter Eggs was TeslAtari, a game emulator that came with firmware version 9.0. Classic Atari games like Pole Position, Tempest, and Missile Command were playable from the center screen, and for a while Pole Position enabled the steering wheel to be used while racing in the game. Tesla has since removed the program, citing rights issues, and has promised another game in its place, possibly developed in-house. Super Breakout and 2048 have been added in the meantime.

Tesla’s sketchpad Easter Egg to get animation support, says Elon Musk


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Tesla is a pioneer that drives Volkswagen’s EV initiatives, says CEO Herbert Diess


Volkswagen CEO Herbert Diess was recently asked about his insights on American electric car maker Tesla during an appearance at the Die Welt podcast. The VW boss was candid, stating that Tesla is a pioneer in the electric vehicle market, and it is one that drives Volkswagen in several areas. Despite this, the CEO noted that VW has a thing or two that can be used to catch up to the Silicon Valley-based company.

Tesla had a rough first quarter, driven largely by difficulties in delivering the Model 3 to Europe and Canada. These difficulties, together with several one-time losses, resulted in Tesla posting a $702 million loss for Q1 2019. During the earnings call for the first quarter, Elon Musk admitted that there was some merit in raising capital for the company, and earlier this month, Tesla did just that. Tesla ultimately raised $2.7 billion from its funding round, with CEO Elon Musk purchasing $25 million worth of shares from the offering.

Amidst these headwinds for Tesla, VW CEO Herbert Diess noted that he hopes the American carmaker will survive. “I hope that Tesla survives because it is, of course, an incentive and an impulse for us,” he said. He later added that while Tesla has established a lead in the electric vehicle market, this headstart was “certainly not unassailable.” Diess explained that as a “small, focused company,” Tesla has certain advantages, particularly when it comes to its battery and its autonomous driving technologies.

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Nevertheless, Diess stated that Volkswagen has several strengths of its own that can be utilized to compete against Tesla. These strengths, according to the CEO, will allow Volkswagen to potentially overcome the younger American company and become the leader in electric vehicles. “We are big, we are global, and we also have advantages in scaling, starting up factories, and rolling out the business. This will be our chance in the next few years. We will win,” Diess said.

The CEO later admitted that Volkswagen is aiming to achieve the Paris climate goals by 2050. Diess also added that he personally does not see an alternative to electrification in the next ten years. Speaking about fuel cell vehicles, Diess argued that it would take “two to three times as many windmills and solar modules” to make the technology work.

Volkswagen has shown a notable amount of interest in Tesla in the past. Back when Elon Musk was attempting to take Tesla private, Volkswagen AG was among the companies willing to help raise $30 billion for the privatization deal. Earlier this year, Volkswagen also recognized the Tesla Model 3 at the National Automobile Dealers Association in the US. During the event, Scott Keogh, the chief executive officer of Volkswagen AG’s US unit, argued that Tesla all but proved that electric vehicles are here to stay. “We have not seen in the history of the auto business, a company going from zero to fourth place in luxury in a matter of a few years,” the exec said, referencing Tesla’s rapid rise among automakers over the years.

Tesla is a pioneer that drives Volkswagen’s EV initiatives, says CEO Herbert Diess


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Will Google save us from terrible infotainment systems?


It’s long been known that automotive companies have, frankly, sucked at bringing modern technology into their vehicle lineups. So when Tesla unveiled the Model S in 2011, many in the industry were skeptical that they could make the center screen usable and as cutting-edge as the latest phones. Obviously, things have worked out pretty well on that front for Tesla, and that 2012 center screen still beats nearly all 2020 vehicles on that market. Why have the car companies never gotten their act together? Will we ever see better screens in cars?

Look no further, Google believes it has a solution for car companies. No, I’m not talking about Andriod Auto; I’m talking about Andriod Automotive OS a complete operating system from Google for automakers to use. The system reaches much further into the vehicle’s system and controls the entire infotainment system (it can also control the driver display screen). This sort of solution is long overdue and will push developers to create exciting apps for cars. Tesla originally stated that their systems would allow 3rd party apps, but nothing has ever come to fruition. Perhaps Google’s push into vehicles will create a flurry of development and Tesla will finally open up their system (for their credit, there hasn’t ever been a huge developer community looking to get into Tesla’s).

The first car rocking the Google-powered system is the all-electric Polestar 2. Rather than spending tens of millions of dollars developing their own system (and likely fail like most of their peers) Polestar, an offshoot of Volvo, partnered with Google to bring their system to market quickly. Volvo’s latest infotainment systems have traditionally been regarded as better than most other companies, so Polestar’s bet on Google is a bit surprising. The move will likely be lauded as a big win for the upstart company, especially as they aim to make a name for themselves.

While Google’s foray into the vehicle will allow automakers to bring their vehicles’ technology up to acceptable levels, the key to the system’s success lies in a far simpler innovation: OTA updates. Tesla pioneered OTA updates and has now proven the advantages they bring to owners. They keep a vehicle feeling fresh, adding new features, expanding range, and offer opportunities to make vehicles upgradable (Autopilot).

Some other companies are still missing the mark with their latest tech, for an example look no further than the Audi e-tron. The company’s system splits up controls between two touch screens, rather than one large, easy-to-use screen. The good news here? Audi is looking at utilizing OTA updates to continuously update the vehicle, which will prove smart in the long term.

With Google truly entering the infotainment system business, we may start to see tech in cars that can compete with the latest phones. What do you think about Google’s latest innovation? Would you like to see an app store in your car? Let us know in the comments.

Will Google save us from terrible infotainment systems?


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Tesla Gigafactory 3 starts interior work amid escalating US-China trade war


Recent drone footage taken from Tesla’s Gigafactory 3 site reveals that work on the massive electric car production facility is underway despite the escalating trade tensions between the United States and China. As Gigafactory 3’s factory shell nears completion, workers appear to have started focusing their activities on the interior of the upcoming general assembly building as well.

The recent videos of Gigafactory 3 were shared on YouTube and other social media platforms this weekend. Drone operator Wuwa Vision (烏瓦), who has been following the facility’s buildout since late last year, mentioned that the external wall of the electric car factory is nearing completion, with sections of Gigafactory 3’s outer wall getting Tesla’s trademark red accents. From the air, it is evident that roofing of the factory continues to spread, with the roof of the rumored stamping area getting paved. A flyby of the site conducted at night by a separate drone operator shows that Gigafactory 3 workers are still adopting 24/7 operations.

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Work in Gigafactory 3 remains incredibly quick, with visible progress being reported on the site despite the escalating trade tensions between the United States and China, which is weighing down the US market today. On Monday’s pre-market alone, futures for the S&P 500, Dow, and Nasdaq fell amid China’s upcoming 25% tariff on a portion of US goods. China’s initiative appeared to be a response to the Trump administration’s decision to raise the rate of tariffs on $200 billion worth of Chinese imports to 25%.

Tesla’s Gigafactory 3 is following an incredibly ambitious timeline that exceeds that of Elon Musk’s own optimistic estimates. During Gigafactory 3’s groundbreaking ceremony last January, Musk noted that he expects the facility to start initial Model 3 production by the end of the year. China upped the ante on this timeframe, with a Shanghai official noting that the initial buildout of Gigafactory 3 should be completed by May. The rapid buildout of the facility so far suggests that this May target might very well be achieved.

If Gigafactory 3’s initial buildout does make it to the May deadline, the facility could be on track to start Model 3 trial production as early as September, giving Tesla ample time to refine its electric car production lines to enable mass production by next year. Gigafactory 3 is an essential facility for Tesla. By having electric cars produced locally, Tesla could sell its vehicles at far more competitive prices. Musk has already announced that Gigafactory 3 will focus on the affordable versions of the Model 3 and Model Y, highlighting the company’s intention of bringing its electric vehicles to China’s mass market even further.

Watch the recent progress of Gigafactory 3 in the video below.

And here’s Gigafactory 3’s continued night activities.

Tesla Gigafactory 3 starts interior work amid escalating US-China trade war


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