Tesla Installs Special Edition, Ultra Red Supercharger As It Reaches 50,000th Mark

Tesla creates a special 50,000th Supercharger

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Over the past couple of days, Tesla hit not one but two remarkable milestones, marking a significant chapter in its rapidly evolving story. If you spent the weekend engrossed in the new Elon Musk biography by Walter Isaacson, you can perhaps fully appreciate the magnitude of these accomplishments: the production of Tesla’s five millionth car and the installation of its 50,000th Supercharger.

Five Million Vehicles Strong

On its official Weibo account, Tesla unveiled its five millionth vehicle, a pearl white Model 3, freshly rolled off the production line at the Shanghai Gigafactory. This notable milestone embodies Tesla's journey “from a blank canvas to today’s five millionth vehicle,” a path characterized by simplicity and efficiency. Through their message, Tesla conveyed deep gratitude towards their global community of owners and supporters, urging everyone to "power up together" for a greener and brighter future. This celebratory announcement follows a series of production landmarks, the most recent being the four million car milestone reached in March, highlighting the company's exponential growth.

50,000 Superchargers: Painting the World Ultra Red

The weekend's festivities extended beyond the production line, with Tesla celebrating a Supercharger network milestone: the 50,000th installation. The Tesla Owners of Silicon Valley shared a video (below) showcasing Tesla's latest landmark in action. This special unit, distinctly colored Ultra Red, is located at Living Spaces at 1851 Freedom Way, Roseville, California. Since introducing just six Superchargers in 2012, Tesla has demonstrated its commitment to facilitating widespread electric vehicle use.

The Supercharger network, a pillar in Tesla's strategy to foster electric vehicle adoption, offers convenient and rapid charging solutions worldwide. This recent installation is a firm pledge to a global ethos where electric vehicles (EVs) can flourish.

Factory Tours for Referrals

Tesla is not only escalating its production but also opening doors for enthusiasts to witness where the magic happens. Tesla is introducing tram tours of its factories in Fremont, California, and Austin, Texas, as a part of its referral program. This exclusive peek can be redeemed using referral credits, ushering Tesla account holders and up to three guests into the production sanctuaries that have revolutionized the automotive industry.

However, while the immersion into Tesla’s world is facilitated, travel and accommodation expenses are the responsibility of the attendees. The company maintains a stringent no-media policy during the tours, underscoring the confidentiality preserved in these powerhouse spaces. Tesla aims to bolster engagement with its customer base through this initiative, enticing them with an insider’s view while encouraging more referrals despite moving away from the previous tradition of complimentary Fremont factory tours.

The electric vehicle pioneer isn't slowing down as Tesla gears up for an exciting future with the much-anticipated Cybertruck launch, which already boasts over 2 million unofficial pre-orders. Analysts anticipate that the existing production pace could potentially herald the creation of six million Tesla vehicles in early 2024.

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Tesla Improves Reverse Camera View in Update 2023.32

Tesla improves the reverse camera in update 2023.32

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Tesla’s continuous updates are well documented, but sometimes, the undocumented changes come as pleasant surprises. Thanks to our diligent readers and the proactive Tesla community, we are always alerted to the latest under-the-radar features that provide a surprising tweak.

Reverse Camera Adjustments

With update 2023.32, Tesla has improved the rear camera view by cropping the video feed so that it completely eliminates being able to see the trunk in the top portion of reverse camera and removes most of the bumper in the lower portion as well.

Though it may initially seem like a decrease in visual range, this adjustment is an improvement. By focusing solely on the essential parts of the rear view, distractions are minimized, paving the way for a clearer, more centralized perspective of the environment behind the vehicle. This refined vision aids drivers in making more precise judgments when reversing, thereby enhancing safety and precision..

Improved Camera Clarity

In addition, the video post-processing has been enhanced, offering improved white and color balance to the vehicle's camera feeds. These augmentations result in a more natural-looking video display during live view and utilizing functionalities like Sentry Mode or the Dashcam.

Intresestingly, Tesla's feature that allows you to preview each camera feed under Controls > Service, still shows the unaltered camera feeds, including the repeater cameras, which were also recently cropped to remove the vehicle's side-mirrors when using the blind spot camera feature.

Tesla has again displayed meticulous attention to detail. The company that is already selling more EVs than anyone else (by a long shot), and the safest cars on the planet doesn't seem to be anywhere close to finished making small tweaks to make a great vehicle even better.

Update: At this time, it looks like the reverse camera cropping is only being applied to hardware 4 vehicles, which include cameras with a higher resolution. It's not clear whether Tesla will crop the video on HW3 vehicles as well.

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Tesla Taps into Booming Demand with a Grand Lease Securitization Plan

Tesla to start securitization through vehicle leases

Tesla

As the Big 3 went on strike, costing Ford, GM and Chrysler billions, Tesla is making big money moves in order to spend more. Tesla has started its grandest lease securitization project to date, which is set to redefine its financing strategy. The company is initiating the securitization of a staggering $1.8 billion worth of its electric vehicle leases, paving a path for a sophisticated financial instrument that can potentially foster the company's growth. This massive cash grab may be needed if rumors of the new production advancements are true.

What Does it Mean?

Tesla has started a process called "securitization." This is a financial strategy where they bundle together many car leases and sell them as bonds to investors. Tesla is packaging $1.8 billion worth of car leases in this case. This strategy allows them to get a large sum of money now instead of waiting for the lease payments to trickle in month by month. This is the same as getting a full year of pay; all you did was promise to do your job for the next year.

Tesla is doing this now because it wants to have more money on hand to create more leasing opportunities for potential Tesla drivers. When they sell these bonds, they will get a large amount of money that they can use to offer more leases to customers, essentially expanding their business, Giga Mexico is coming, and potentially boosting their profits.

By turning leases into bonds, Tesla effectively leverages its existing assets to garner immediate liquidity. This strategy entails the creation of financial instruments backed by the value derived from Tesla’s leases, which are then marketed to investors, offering them a structured debt investment with different tranches of risk and returns. The issuance is segregated into various classes, with ratings spanning from Triple-A to Double-A, targeting a diverse risk appetite of the investors, ranging from conservative to moderate. This is a big money move, considering their Master of Coin has stepped down.

An Established Strategy with a Fresh Magnitude

As the financial specialists monitor the dynamics, there is a consensus on the resilience showcased by U.S. consumers in the wake of the Federal Reserve’s aggressive interest rate hikes. Elon Musk has loudly spoken out about the rate hikes and urged the Fed to reverse the massive increases. Now, Tesla can use the hikes to its advantage as more buyers may be looking for a short-term lease instead of a long-term one, which would lock them into a higher rate for a longer period.

This financial maneuver is not new in Tesla's playbook; however, this issuance marks the largest since the inception of such undertakings in 2014. The issuance of these asset-backed securities is designed to drum up about $1 billion, transforming the vehicle leases into a liquid asset that can foster Tesla's business acumen in navigating the corporate finance landscape.

The proceeds from this strategic financial endeavor can potentially fuel Tesla's ambitious expansion plans, serving as an alternative reservoir of funds apart from the conventional corporate bond market. This comes at a pivotal time when Tesla’s share has seen a remarkable uptick, soaring by 124.1% year-to-date.

Tesla plans to create different groups or "classes" of bonds to sell, with some being safer investments and others offering the potential for higher returns. This strategy is designed to attract a wide variety of investors, including those who prefer to play it safe and others willing to take on a bit more risk for a higher reward.

This strategy seems to be well-received as Tesla's share prices have gone up, indicating that investors have confidence in Tesla's plans. Moreover, people are still very much interested in leasing Tesla cars despite the general rise in interest rates.

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