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Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Friday 1st February 2019. It’s Martyn Lee here and I’ve been through every EV story I can find today, and picked out the ones I think you need to know about.
Thank you to MYEV.com for helping make this show, they’ve built the first marketplace specifically for Electric Vehicles. It’s a totally free marketplace that simplifies the buying and selling process, and help you learn about EVs along the way too.
THOUGHTS ON TESLA Q4 EARNING CALL
- Revenue – $7.2 billion for the quarter. Annual Revenue was $21.5 billion
- Profit – $345 million non-GAAP
- No ZEV credits sold to speak of, could be saving them up as a buffer.
- $910 million free cash flow on the quarter. They have $3.7 billion in unrestricted cash.
- Elon mentioned several times about stock being on ships being his concern, and getting them with customers in Europe and China.
- Tesla growing at 60% a year, from 2 billion revenue 5 years ago to 21 billion revenue in 2018.
- 360-400k vehicles forecast to be sold in 2019. All Model 3’s being made at Fremont are currently for Europe and China.
- Gigafactory 3 Model 3’s complete vehicle production line, so that stamping, paint shop.
- 1GWH of storage installed in 2018. 100 powerpacks in 32 countries.
- Pickup on track to be unveiled this Summer.
- Eurpopean and China orders are strong and they’re not trying. Leasing will come but not yet.
- As for $35k Model 3 the letter say: ” A new manufacturing line made by Tesla Grohmann is further increasing production of Powerwall and Powerpack modules at Gigafactory 1.”
TESLA MODEL 3 PRODUCTION TO START IN CHINA BY END OF YEAR
- “Tesla has said in its fourth quarter report that the local production of Model 3 in China should begin by the end of 2019” reports Mark at InsideEVs.com: “The Tesla Gigafactory 3 in Shanghai will produce (probably in 2020) some 3,000 Model 3 per week. Those will be only base versions of the Model 3, as the top versions (all-wheel drive and Performance) will be supplied to China from the U.S.. The rate of production of Model 3 in Fremont is to be 7,000 per week later in 2019, which together with 3,000 per month in China, should enable Tesla to crank 10,000 per week.”
- And the Tesla letter said that was the plan by the end of this year. That’s an annual worldwide rate of 500,000 Model 3s. I will add – there is nothing on that site apart from a fence.
TESLA IS ADDRESSING ITS REPAIR SERVICE CHALLENGES
- “Tesla stated that it is currently operating 378 service centers around the world by the end of the fourth quarter, with 300 of the sites being located outside of CA. Augmenting this support system is a fleet of 411 mobile service vehicles.” reports Simon Alvarez for Taslarati.
- Elon said: “”We’re also improving parts distribution. I think we made a strategic error in the past about not having service parts located at our distribution centers. We had them in parts distribution warehouses which basically meant it was impossible to have a fast turnaround on service on your car because the car would come in, then the parts would be requested (before) they come to the service center. Basically, for even for a very simple repair, it could take days. We’re going to move to stocking all common parts at the service centers, so it’s possible to get your car service in 20 or possibly 15 minutes. Lightning fast. It’s also gonna make sense for our service centers to do basic bodywork or essentially if all you need to do is replace a front or rear feature, it makes sense to pre-stock the front-rear feature in the common colors. So unless you have (an) unusual color, we can literally replace your feature in 15-20 minutes, and there’s none of this like weeks at a body shop stuff.”
TESLA TO BEGIN MODEL Y TOOLING THIS YEAR
- Staying with Teslarati with news about the Model Y: “Tooling for the vehicle will begin this year and pave the way for volume production expected in 2020. Despite prior comments from CEO Elon Musk hinting that the site of production of the company’s upcoming vehicle might be Gigafactory 3 in Shanghai, Tesla indicates in its 2018 Full Year report that Gigafactory 1 in Sparks, Nevada will likely be the site for first Model Y volume production.”
- “Since Model Y will use the lessons learned with Model 3 production at the start, Tesla predicts a smoother path to market for the vehicle. One of the variables in favor of that prediction is the fact that Model Y will share about 75% of the components of the Model 3, lowering CapEx for a new production line as compared to Model 3’s line in Fremont. The efficiency enabled by the similarities is further anticipated to quicken the speed of the production ramp.”
VW REVIVING THE CLASSIC BEACH BUGGY AS AN ELECTRIC CONCEPT
- VW is reviving the classic Californian 1960’s Beach Buggy. Motor1.com has the details: “Volkswagen just dropped a pair of teaser photos for a new dune buggy concept, based not on the outgoing Beetle but the company’s Modular Electric Drive Matrix (MEB) platform. Yes, the classic rear-engined beach buggy is now reimagined as an all-electric dune hopper, and though the teaser photos don’t reveal all the details, we can see that the core elements appear to be present.” says Christopher Smith: “We do know that Volkswagen’s primary mission with this retro reboot isn’t so much about tapping into a nostalgic vibe, but showcasing the versatility of its MEB chassis. There’s certainly something to be said for the compact nature of an electric system – there’s no need to route exhaust systems, fuel lines, or make room for bulky driveline components that could change from vehicle to vehicle. “
2019 KIA NIRO EV FIRST DRIVE: THE NEW AFFORDABLE LONG-RANGE LEADER
- InsideEVs got the chance to play in the Kia eNiro: “After a full day of driving the 2019 Kia Niro EV through California’s Monterey Bay region, the all-electric crossover’s real-world range appears to be about 250 miles. The Niro EV’s official E.P.A. range is 239 miles, but 260 miles was indicated on the dash as we left the hipster Hotel Paradox in Santa Cruz.” according to Bradley for InsideEVs: “Depending on the road’s incline and other factors, Level 3 regen can bring the car to a complete stop after a long coast. But for a useful, no-pedal stop – similar to the BMW i3 or the Chevy Bolt in L – you also need to pull and hold the left paddle. Kia’s Garrett Ono, manager of product strategy and regulatory compliance, called it a “hold to stop” function. The Niro EV uses a 200-horsepower motor mounted to the front axle. Given its extra size, the Niro EV is not as fast off the line as the Bolt or Kona. Even when punching the Niro EV’s accelerator, you are not tossed back in your seat. The launch starts modestly until it reaches about 15 miles per hour”
EXTREME E SERIES UNVEILS EVENT FORMAT, 2021 LAUNCH DATE
- “The nature of the Extreme E electric off-road SUV racing series has been unveiled by co-founders Gil de Ferran and Alejandro Agag – and it is set to begin in January 2021.” reports Alex for motorsport.com “The championship, which is operated in association with ABB FIA Formula E, hosted a launch event on the river Thames in central London, on board the Royal Mail Ship St Helena. XE will hold electric SUV racing events in five remote areas of the world – the Arctic, the Himalayas, the Sahara desert, the Amazon rainforest and islands in the Indian Ocean. Motorsport.com has previously reported that XE entrants will use the same spec-chassis base underneath bespoke silhouette SUV racing designs, with limited powertrain areas available for development. The event format will be a series of head-to-heads over stages approximately five miles long, with a round-robin group stage leading to a knockout tournament to decide the event winner. British explorer and environmentalist David de Rothschild will be XE’s chief explorer. An XE statement described the series as a “fully-funded venture”, which is already backed by founding partner Continental Tyres, and niobium supplier CBMM.”
SHELL ACQUIRES EV CHARGING COMPANY GREENLOTS
- Greenlots, a US-based leader in EV charging and energy management software and solutions, has signed an agreement to become a wholly owned subsidiary of Shell New Energies US LLC, a subsidiary of Royal Dutch Shell plc.
- With this deal, Greenlots’ technology and team become the foundation for Shell’s continued expansion of electric mobility solutions in North America. Together, the companies will offer best in class software and services that enable large-scale deployment of smart charging infrastructure and integrate efficiently with advanced energy resources like solar, wind and power storage.
And thanks to MYEV.com they’ve set us another Question Of The Week. Keep your comments coming in on email and YouTube…
What new car announcement would do the most for EV publicity – an 250mph EV hypercar, a go-anywhere truck or a truly affordable small family car?
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