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Let’s get into it.
“Be silly. Be honest. Be kind.”
-Ralph Waldo Emerson
During a recent joint press conference with California Governor Gavin Newsom, Tesla CEO Elon Musk made a surprising announcement that the company would be returning to the Golden State. It was only two years ago that Tesla had flown the coop, seeking asylum in the warm embrace of Austin, Texas. Nevertheless, Musk revealed that Tesla's global engineering headquarters would now be planted firmly in Palo Alto, while the corporate headquarters would continue to reside in Austin.
In other news, the launch of the non-Tesla EV Supercharging option in the United States is here. The first installation was recently spotted in Verona, New York, where the stalls at the Supercharging station were retrofitted with the "Magic Dock." This innovative technology features a built-in CCS Combo 1 adapter, which enables non-Tesla cars with a CCS1 fast charging inlet to charge. It's important to note that Tesla's cars in North America use a proprietary standard, which is why the Tesla-CCS1 adapter is a key element required to make the stations compatible with other electric vehicles.
Meanwhile, over in Brandenburg, Germany, Tesla's plant is producing an impressive 4,000 cars per week, ahead of schedule. This output amounts to one-third of the Model Y output from Tesla's Shanghai plant. It's worth noting that the maximum capacity planned for the Brandenburg plant is a staggering 500,000 cars per year, nearing 10,000 per week. Moreover, Tesla has begun assembling batteries in Germany that will soon be used in vehicles produced at the plant. However, the company recently announced that it will focus on cell production in the U.S. due to Inflation Reduction Act incentives. Additionally, Tesla is preparing to produce cell components, such as electrodes, some of which will be sent from its site in Gruenheide, Germany to the U.S.
Tesla is set to update analysts on its strategy on Wednesday, so it will be interesting to see what new developments the future holds for this pioneering company.
In Other EV News
Toyota has launched a cutting-edge tool to assist customers in their quest to find appropriate incentives for Battery Electric Vehicles and Plug-in Hybrid Electric Vehicles.
Geely Auto Group has recently introduced its new high-end electric product series called Geely Galaxy. It is expected that Geely Galaxy will have seven new vehicle models within the next two years, of which four will be long-range hybrid electric models, and three models will come under the pure Galaxy E range.
Stellantis has reported record results for 2022 with net revenues of $191.2 billion and a net profit of $17.88 billion. The boost in sales of electric vehicles in the US and Europe contributed to the company's stellar results with plans for 100% of passenger car sales in Europe and 50% of passenger car and light-duty truck sales in the US to be electric vehicles by the end of the decade.
Vietnamese automaker VinFast has slashed the lease price of its first electric model being shipped to the United States, the VF 8, by over 50% for initial customers in California, as per the company and customer emails examined by Reuters.
Nissan will accelerate its shift towards EVs particularly in Europe, where emissions regulations are strictest. The company now aims to make almost all its offerings in Europe electric or series-hybrids by fiscal 2026, up from its previous target of 75%.
In 2022, approximately 5.7% of US car sales were fully electric cars, up from 3.2% in 2021. Tesla dominates the US electric car sales market, but the US electric car market as a whole is growing strongly, with BEV sales increasing 65% compared to 2021.