#Tesla

Tesla just wrapped its annual Investor Day, where the automaker invites fans and shareholders to hear it brag about its accomplishments and future products. At yesterday’s event, Tesla confirmed the poorly-held secret that a Gigafactory is coming to Mexico.

Telsa's Investor Day will be starting soon after this publishes -- and I am wondering what, if anything, you're expecting in terms of news from the company.

One of Tesla’s most significant competitive advantages could be fading, as the White House recently announced a deal with the automaker that would open part of its previously-exclusive charging network to owners of other EV brands. The wheels are in motion, as Tesla tweeted last night that the first round of chargers is now open. 

On Tuesday, Mexican President Andres Manuel Lopez Obrador announced that Tesla will be building a plant south of the border. Confirmation comes following a call with CEO Elon Musk – held on Monday – with promises that the American company would be issuing a series of commitments designed to address regional water scarcity. The alleged plant is said to be located in Monterrey, which has historically struggled to cope with drought. 

Tesla is recalling more than 362,000 cars that have the company's so-called Full Self-Driving Beta system. The recall is voluntary.

Unlike many auto manufacturing jobs in America, Tesla’s employees are not unionized.  That could soon change, but not without some drama first. A group of Autopilot analysts in Buffalo, New York, recently notified CEO Elon Musk of their intent to organize, but the company responded by firing dozens of people, including many that were involved in the unionizing effort.

On Wednesday, the Biden administration announced that Tesla will begin opening up portions of its proprietary charging network to all electric vehicles by the end of 2024. While the move could undermine one of the most desirable aspects of owning a Tesla, by forcing owners to share what’s likely to be the largest and most reliable charging network in the country, the EV purveyor isn’t coming away empty-handed. The arrangement comes under a new $7.5-billion federal program to electrify the nation's highways stemming from the $1-trillion infrastructure package signed in 2021.

Hertz has reportedly fallen short of its promise to buy 100,000 electric vehicles from Tesla last year. Though, taking a look at the role EVs are playing in the rental industry right now, the company might actually have made the correct decision.

There are photos on the Intertoobz of the Tesla Cybertruck testing, undisguised, in California.

Automakers would love to have you believe that they all march to their own drummers, but the reality is that the market is tied together in ways both obvious and less so. Yesterday, Ford announced it would cut prices and bump production for the Mustang Mach-E, a likely response to Tesla’s massive recent price cuts. Most other automakers are yet to respond, but Volkswagen wasted no time announcing that it would not follow Tesla and Ford with price cuts on its EVs.

Another day, another Tesla Cybertruck delay. After its reveal in 2019, CEO Elon Musk promised deliveries in late 2021, but a pandemic and global supply chain crisis threw a curve. The automaker’s next target is coming up soon, and Musk does not appear confident the company will meet that goal.

When we talk about car sales, we typically look at units sold and profit made, but automakers and analysts look at deep metrics. S&P Global recently an overview of customer retention metrics in the industry, and it showed that many brands are having trouble holding onto customers beyond a single vehicle purchase. 

VinFast, a Vietnamese electric-vehicle maker, made waves in America before any of its vehicles are even on sale. The company’s debut announcement outlined a novel battery leasing program that involved confusing pricing and terms, but it later backed away from that plan. It’s not done fiddling with numbers just yet, however, as the automaker announced a new promotions program to help it compete against EV market leader Tesla.

Regardless of how you feel about Tesla, there’s no amount of wishful thinking on anyone’s part that makes its “full self-driving” technology work as advertised. The company’s cars cannot drive themselves, do not operate without a human watching, and cannot safely manage complex situations on the road. That hasn’t stopped Tesla from trying to convince everyone, though, and as we’re now learning, its efforts haven’t always been above board.

Mr. Guy wrote this morning about Tesla and how it appears that the company's cars are being sold to rental fleets. As most of you know, large fleet sales are often seen as a negative mark on the health of a company and can also tank resale values.