Tesla launches its revamped referral program

Tesla has revamped its referral system

Not a Tesla App

Tesla has filled the Loot Box back up in the app, which now contains Tesla's revamped referral program. The reintroduction comes less than a month after Tesla launched a referral program in China called Treasure Box. We saw this coming in October when Tesla updated some localized strings in its iOS update.

Tesla's updated referral program hands out credits instead of cash or prizes. The credits could then be used to purchase Tesla accessories such as vehicle chargers, t-shirts, shot glasses and other items you'd normally find in Tesla's online shop.

Vehicle Referrals

Although the program has been relaunched in the U.S., it did not bring back vehicle referrals as expected. At this time you are still limited to referring friends and family to Tesla's solar products.

Tesla put its vehicle referral program on hold in September of 2021. We expected Tesla to relaunch that program with its revamped loot box, but that hasn't been the case. It's not clear whether Tesla is going to bring back vehicle referrals at a later date.

Tesla will now list qualifying products in the Loot Box section of the app, under the Credits tab. In the U.S. qualifying products are currently limited to Tesla's Solar Roof and Solar Panels. Given that Tesla lists qualifying products in a separate tab and has room for additional products could mean that Tesla plans to alter qualifying products over time or based on a user's region. Tesla could also add or remove products based on demand.

Tesla's statement on its website leaves the referral system open to all Tesla products, not just solar. It states: “Our goal is to help Tesla owners share their passion for Tesla’s products and our mission — to accelerate the world’s transition to sustainable energy. As an owner, every time you bring a new friend or family member into the Tesla community, you and your friend both earn credits — you earn Referral Credits and your friend earns Buyer Credits. You also earn Loyalty Credits when you purchase additional qualifying Tesla products, as a thank you for being a loyal Tesla owner.”

Prizes

Here are some items available in the Loot Box:

• J1772 Wall Connector — 11,000 credits
• Wall Connector — 6,000 credits
• CCS Combo 1 Adapter — 5,000 credits
• 2,000 Supercharger Miles — 4,800 credits
• Model S/3/Y Pet Liner — 2,900 credits
• Men’s Raven Lightweight Hoodie — 2,000 credits
• Tesla Sipping Glasses — 1,750 credits
• Wall Connector Color Matched Faceplate — 1,500 credits
• Tesla Short Shorts — 1,469 credits
• Powered by the Sun License Plate Frame — 800 credits
• Let the Sun Shine Tee — 700 credits
• Solar Roof/Powerwall Tee — 700 credits

Solar products earn 6,000 credits and accumulate in your Loot Box under one amount. However, the credits do expire after 12 months unless you add more credits to your account. Each time new credits are added the expiration cycle restarts, giving you one year to use the credits or add more.

Shirts and glasses don’t compare to the Roasters that were part of previous referral programs. However, that may indicate how far the company has come. There was once a time when convincing friends to buy Tesla products was so difficult that the company had to offer extravagant prizes. Now, it’s a much easier sales pitch, and a T-shirt will suffice.

To access, open your app and tap on your profile image in the top right corner. There you will find Loot Box near the bottom of the screen, and when you tap on it, there is a button to share your referral code.

Tesla to Reveal Master Plan Part 3 at Investor Day

Tesla's Investor Day will take place on March 1, 2023

Tesla

Tesla's upcoming Investor Day event is attracting attention as the electric vehicle maker gears up for the event. Elon Musk has confirmed he will release the Master Plan Part 3 during the event, scheduled to take place at Giga Texas, on March 1, 2023.

True to Tesla's tradition of incorporating Easter eggs into high-profile events and products, the Investor Day invitation features a textured background in both the invitation and the event's graphic shared by Elon Musk on Twitter. Upon close examination, the textured background appears to be composed of vehicle bodies used for manufacturing, aligning with Elon Musk's comments about scaling as a critical component of Master Plan Part 3.

What to Expect from Tesla's Upcoming Event

Elon Musk has not disclosed specific details about Master Plan Part 3. Still, he has previously hinted that it will focus on scaling Tesla's operations to an extreme size and incorporating Artificial Intelligence into the company's operations. The CEO has also stated that the plan will encompass his other ventures, such as SpaceX and The Boring Company.

In March 2022, Elon Musk announced that he was working on Master Plan Part 3, which would outline Tesla's future strategy and how the company plans to scale its operations to a global level and incorporate AI. The CEO has also confirmed that Master Plan Part 3 will include sections related to his other companies, such as SpaceX and The Boring Company.

The Future of Tesla and Beyond

The first Master Plan, released by Elon Musk in 2006, outlined Tesla's strategy to become a mainstream EV automaker that produces more than just Roadsters, but vehicles more like the Model S. The plan also touched on the potential for electric vehicle owners to use renewable energy sources, such as solar power, to charge their cars.

Ten years later, in 2016, Elon Musk released Master Plan, Part 2, which focused on expanding Tesla's vehicle offerings into heavy-duty trucks, pickups, and urban transportation. The plan also highlighted Autopilot, the development of a Robotaxi Network, Tesla Energy and solar products.

Musk's focus on scaling Tesla's operations to an extreme size led many to believe the Master Plan Part 3 will include reasons why the company may launch a much cheaper model, expected to be around $25,000. Tesla's Q4 and FY 2022 updates confirmed that the next-generation vehicle platform is under development, and the company will provide further details about the car at Investor Day.

Tesla Gears Up for European Launch of Tesla Insurance As Expansion Continues

You can manage Tesla Insurance payments, coverage and claims directly in Tesla app

Tesla

Tesla has continued its expansion into the insurance market, with its sights set on Europe. The automaker, known for its electric vehicles, established its European insurance branch in Malta in December 2020 but has yet to offer specific insurance services to European drivers. But that is about to change.

Tesla's Job Posting Indicates Progress Towards European Launch

Recently, Tesla advertised for a Legal Counsel position specializing in insurance for the European market, with the work based at the company's London headquarters. The individual will be tasked with building and leading the in-house legal function of the insurance company as it operates cross-border in Europe, navigating the complex legal and regulatory landscape of insurance in Europe.

In March 2022, Tesla registered its European insurance operations at its London headquarters at 109 Devonshire Road. In addition, the company has utilized other insurance programs in the UK and Europe to provide driver coverage through partnering insurance companies. Still, it has also launched its in-house insurance program in the United States and continued expanding its offering. Tesla uses real-time data on driving behavior to determine rates. It is now available in 12 states, excluding California.

Tesla's Focus on Europe After US Expansion

Tesla Insurance reported an annual premium run rate of $300 million as of the end of 2022 and growth of 20 percent a quarter. During the fourth quarter earnings call in 2021, the company revealed that Tesla's next target would be Europe after focusing on expansion in the United States.

Although the company has not yet announced a specific launch date for its insurance services in Europe, the recent job posting and the registration of the European insurance operations in London indicate that Tesla is making progress toward offering the service to European customers. In early 2022, Tesla's CFO, Zachary Kirkhorn, suggested that the company might launch insurance in Europe by the end of the year, dependent on the progress of the insurance launch in the United States.

Launch of Tesla Insurance in Europe by 2023

It's no secret that CEO Elon Musk has been optimistic with some of his previous timelines. Still, recent statements indicate that the launch of Tesla Insurance in Europe could happen as early as 2023. A successful Legal Counsel candidate will play a key role in ensuring that the company can navigate the unique challenges and opportunities of the European insurance market and deliver on its promise of rethinking the insurance customer experience.