One advantage Tesla has over its competition is its Supercharger network. No one else comes even close to having such a vast charging network. That's not even taking other considerations into account such as the speed of chargers.
Tesla to add WiFi to their Superchargers
Tesla's v3 chargers can charge at rates of to 1,000 miles per hour according to Tesla. It really starts rivaling the speed of gas stations. Of course, you may not always see those speeds, since there are various factors to consider. You'll need to have a battery that's at least 50% depleted. Usually having a battery around the 30% mark is what will result in the fastest charging speeds.
The car will also need to have a warm battery in order to achieve such a high rate of charging. Your car will do automatically warm up the battery as long as you have a Supercharger destination set in your GPS. And of course, the Supercharger can't be crowded or that could affect the amount of power available to each vehicle as well.
The other big advantage that I feel is often overlooked is the simplicity of the whole thing. When you arrive at a Supercharger, you know what to expect, you're not dealing with different charging networks or figuring out how to pay. You literally just plug it in. It couldn't be simpler.
Now, Tesla is going to add another advantage to it's already great charging network. Elon tweeted that Tesla will be adding WiFi networks to all of their Superchargers.
Adding WiFi to Superchargers actually makes a lot of sense for Tesla. The amount of data Tesla vehicles use is probably fairly small, with the exception of video streaming.
Considering that streaming YouTube or Netflix is likely one of the more popular entertainment options if you're waiting in the car while charging, this could lead to large amounts of data usage.
If Tesla added WiFi to Superchargers, they'll likely greatly reduce the amount of data that is being consumed through the car's cellular network.
In the US, Tesla has a partnership with AT&T. Since the very first Model S in 2012, all Teslas have used AT&T's network. We don't know the exact details of Tesla's partnership with AT&T, but Tesla is likely paying AT&T based on the amount of data used. After all, there's a reason why Tesla forces software updates to be downloaded over WiFi.
This move is likely to improve the customer experience at Superchargers while also saving Tesla some money.
Tesla is selling almost a million vehicles a year. Many of these are now being sold to owners who may not be able to get their car close enough to their homes in order to connect to WiFi and download the latest updates.
By adding WiFi to Superchargers, Tesla will now give owners a reliable and easy way to download software updates, regardless of their connection at home.
How to Connect to Tesla WiFi
We discussed earlier how easy it is to use a Supercharger. There's no need to authenticate, process payments or anything. It's all seamless. Expect Tesla to provide a similar experience when connecting to their WiFi network. You may not have to do anything. Just driving your car within range of Tesla's WiFi network will be enough to get it to automatically connect.
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Tesla's fourth quarter and 2022 earnings call with investors was mostly good news unless you were planning to drive a Cybertruck soon. While company executives eagerly jumped on every question asked by investors, there was a noticeable pause when a point-blank question was asked about Cybertruck's mid-year production date.
Elon Musk responded "um, we do expect production to start, I don't know, maybe sometime this summer. But I always like to try to downplay the start of production because the start of production is always very slow. It increases exponentially, but it's always very slow at first. So I wouldn't put too much thought in start of production."
Volume Production Next Year
If the millions of people with Cybertruck reservations were in attendance, you might have felt the air leave the room. The previous belief was mass production would start by the end of 2023. There may be some stainless-steel beauties on the road by then, but only a few. "It's kind of when does volume production actually happen, and that's next year," said Musk.
Perhaps sensing some disappointed buyers, Lars Moravy, Tesla's Vice President of Vehicle Engineering added, "(I'd) like just to emphasize on that, we've started installation of all the production equipment here in Giga Texas, castings, general assembly, body shops. We built all our beta vehicles, some more coming still in the next month, but as you said, the ramp will really come 2024."
The Cybertruck Will be Elon's Next Car
Cybertruck was originally announced in 2019 at the memorable event that included the unbreakable armor glass smashing. Musk was wearing the smashed glass Cybertruck t-shirt while taking questions from investors. While the wait continues, he is adamant that it will be worth it, "So it's an incredible product. I can't wait to drive it personally. It will be the car that I drive every day… it's just one of those products that only comes along once in a while, and it's really special."
The original release deadline was set for 2021. However, the production date has been delayed due to unforeseen circumstances, like a global pandemic. Nevertheless, it is a positive sign that beta vehicles have been produced. Images of what appears to be a Cybertruck were leaked a few months ago.
Recently, chief designer Franz von Holzhausen did confirm that the Cybertruck was ready for production, but it's a work in progress. Every Tesla beta product gets thoroughly examined and meticulously reviewed before the next step. But at least it's a step in the right direction.
Tesla set new records in production and deliveries while beating analyst expectations.
Tesla published their Q4 2022 and full-year financial results, setting new records in production and deliveries while beating analyst expectations. Tesla’s annual profit rose to $12.6 billion in 2022, from $5.5 billion in 2021. Annual revenue rose to $81.5 billion, from $53.8 billion the year prior. Tesla reported fourth-quarter revenue of $24.32 billion beating analysts' $24.07 billion estimate. The automaker also reported earnings per share of $1.19 beating analysts' $1.12 estimate.
Tesla’s stock rose more than 5% in after-hours trading following the earnings release and surged more than 10% the next day.
Tesla's Q4 2022 revenue set a new record for the company, up 59% from a year earlier. In addition to automotive revenue of $21.3 billion, Tesla recognized $324 million of deferred revenue from the company’s driver assistance systems.
FSD Beta Numbers
Tesla reported that 90 million miles have now been driven with FSD Beta, up from 58 million miles in the previous quarter. The company also confirmed that they have about 400,000 FSD Beta users in North America, a sizeable increase since the last report. With such a steep increase in miles driven and FSD Beta becoming widely available in North America, Tesla is making significant progress with its autonomous driving software.
In late 2022 and into this year, Tesla began cutting prices on its cars globally. Elon spoke about how recent price cuts have fueled a surge in demand for Tesla: “Thus far in January we’ve seen the strongest orders year-to-date than ever in our history. We’re currently seeing orders of almost twice the rate of production.” He added: “These price changes really make a difference for the average consumer.” Tesla acknowledges that average sales prices have to decrease over time because affordability is part of Tesla's mission to grow into a company that sells multiple millions of cars annually.
Price cuts will impact profitability, but margins should remain healthy, Tesla CFO Zach Kirkhorn affirmed. Tesla has wider operating margins than the industry average, which allows them to make such price cuts.
Elon issued an uncertain forecast for 2023, saying Tesla planned on 1.8 million vehicles for the year without specifying whether that was a target for production or deliveries. If the company were to deliver 1.8 million vehicles in 2023, that would result in 37% annual growth.
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