Musk, suddenly speak!

Musk suddenly sent a message from Weibo.

On June 9th, elon musk, CEO of Tesla, issued a document in Weibo, saying that Tesla will not launch a "redesigned" Model Y this year.

Musk also said that Tesla continues to upgrade existing vehicles through OTA and other means, and Tesla vehicles will be significantly improved in many aspects every six months.

Musk previously revealed in the earnings conference call that Tesla will continue to update the vehicle lineup and accelerate the launch of new models.


Tesla’s wave of price cuts in China

Not long ago, Tesla set off a wave of price cuts in China. On April 21st, Tesla China official website comprehensively lowered the prices of its various Model S, including Model Y, Model Y Long Life Edition, Model Y High Performance Edition, Model S, Model S PLAID Edition, Model X and Model X PLAID Edition, etc., with reductions ranging from several thousand to tens of thousands of RMB.

At the same time, Tesla’s preferential activities in the China market are also increasing. Tesla China officially announced on May 17th that it would launch 0 down payment /0 interest activities for Model 3 and Model Y, with two options available.

According to the activity plan, consumers can have two options when ordering the designated version of Model 3: First, the down payment is limited to 0, starting from 0 yuan, and the daily supply can be as low as 136 yuan; Second, the time limit is 0 interest, the down payment starts at 79,900 yuan, and the daily payment can be as low as 85 yuan. There are two schemes: 0 down payment and 0 interest in limited time when ordering the designated version of Model Y.

Previously, on April 24, Tesla officially announced that it would launch a "0 down payment" car purchase benefit for the designated versions of Model 3 and Model Y. At that time, according to the content of the activity, there was no zero interest plan for ordering Model 3. Earlier, on April 3rd, Tesla China announced that it would launch the "0 interest" phased car purchase preferential policy for the first time in view of the low-interest replacement policy for the Model 3/Y model, and order the latest Model 3/Y model, which can enjoy 0 interest for 3 years or ultra-low interest for 5 years at the longest.

In April, Tesla released its financial report for the first quarter of 2024. According to the financial report, Tesla’s revenue in the first quarter decreased by 9% year-on-year to $21.3 billion, which was lower than the market expectation of $22.3 billion. It was not only the first year-on-year decline in the past four years since the COVID-19 epidemic disrupted operations in the second quarter of 2020, but also the biggest decline since 2012, with a month-on-month decline of over 15% compared with $25.17 billion in the fourth quarter of last year, mainly due to the slowdown in global demand for electric vehicles.

Musk also revealed in the earnings conference call that Tesla will continue to update its vehicle lineup and accelerate the launch of new models. Some production plans originally scheduled for the second half of 2025 may be advanced to the beginning of 2025 or even the end of 2024, including cheaper models. The new model will use the next generation platform and the current platform technology, and will be able to use the production line of the current model. He also said that the delivery of electric vehicles in 2024 will be higher than last year, and the growth rate of energy storage business will be higher than that of electric vehicles.

Tesla Shanghai Energy Storage Super Factory started construction.

In addition, the Tesla Super Energy Storage Factory also has new developments. On May 23rd, the groundbreaking ceremony of Tesla Shanghai Energy Storage Super Factory was held in Lingang, Shanghai.

It is understood that Tesla Shanghai Energy Storage Super Factory is Tesla’s first energy storage super factory outside the United States, and the first order for its main product Megapack, a large electrochemical commercial energy storage system, in China was also signed by Lingang Group and Tesla on the same day.

Shanghai Energy Storage Super Factory will produce Megapack, a Tesla super-large electrochemical commercial energy storage system, which is expected to be put into production in the first quarter of 2025. It is estimated that the annual production capacity will reach 10,000 units and the energy storage scale will be nearly 40 GWh (1 GWh = 1,000 MWh).

At the groundbreaking ceremony, Zhu Xiaotong, senior vice president of Tesla, said that Tesla is committed to solving fundamental problems in the fields of travel and energy with subversive technologies, and forming an innovative technology complex with vertical integration of the entire industrial chain in the fields of electric vehicles, energy storage products, artificial intelligence and robots. As an important part of its diversification strategy, Tesla’s energy storage business is leading the development of the global energy storage market with its leading technology and innovative products. The start of the Shanghai Energy Storage Super Factory will further consolidate Tesla’s leading position in the field of energy storage and promote the progress and development of the global green energy industry.

Since 2015, Tesla has launched Powerwall, a household energy storage battery, and Megapack, a super-large electrochemical commercial energy storage system in the United States, which are aimed at the household energy storage market and the commercial and industrial energy storage market respectively. Tesla’s energy storage products are currently distributed in more than 65 countries and regions around the world. In 2023, the installed capacity was 14.7 GWh, and in the first quarter of 2024, the installed capacity reached a record 4.1 GWh. The gross profit of energy storage business increased by 140% year-on-year, making it one of Tesla’s fastest growing businesses.

Musk once said that the future of renewable energy depends on large-scale energy storage. Tesla Megapack energy storage system can support low-cost, high-density public utilities and commercial projects up to gigawatt-hours. Flexibility is also a major feature of Megapack energy storage system, which can be integrated with battery module, inverter and temperature system at any time to help the power grid run more stably and sustainably.

At present, Tesla Megapack energy storage system has helped the United States, Britain, Australia and other regions to develop new energy. For example, in Victoria, Australia, Victoria Big Battery is currently one of the largest renewable energy storage projects in the world. The completion of renewable energy power generation facilities and 212 Megapack units has provided sufficient backup power protection for the region.