> These new vehicles, including more affordable models, will utilize aspects of the next generation platform as well as aspects of our current platforms, and will be able to be produced on the same manufacturing lines as our current vehicle line-up.
> This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times. This would help us fully utilize our current expected maximum capacity of close to three million vehicles, enabling more than 50% growth over 2023 production before investing in new manufacturing lines.
> Our purpose-built robotaxi product will continue to pursue a revolutionary “unboxed” manufacturing strategy.
That's pretty amazing and I don't believe it for a second.
So last quarter, Musk said that they were very advanced on the new platform with a 'mind blowing' new production line, and now it states that they can magically release a new model on the current production line...
And of course, all India, Mexico etc factories are out of question now. It just doesn't add up at all.
The stocks up 8% within seconds of the announcement. It has nothing to do with slide 10. It's unlikely anyone but bots read it before it was up 8%. And now it's just gamblers buying after hours as they always do.
More likely what happened was shorts who have tanked this stock down in one of the biggest bull runs of history are covering off rather flat news. The stocks is sitting down where it was in 2020. That is hardly a positive for investors, considering the other popular SP500/Nasdaq stocks are all breaking all time highs.
Interesting that they seem to flip flop on the affordable models.
Other companies (e.g. VW) have started with higher cost models for experimentation on the market, leaving the lower cost models for later. The ID.2 will be coming quite soon, interesting what Tesla plans.
Based on Elon’s history of making statements, them working on cheaper vehicles would most likely be them selling Model Y with lower range and/or cheaper batteries, but Wall Street will interpret that as them making a bet new $20000 hatchback.
The statement about platforms implies to me a whole new car.
VW and Renault have been in talks about developing an EV like that. Both manufacturers have always focused more on large scale low cost vehicles. Certainly Tesla will be competing in a much more difficult market, where they will face competition.
https://finance.yahoo.com/quote/TSLA
Probably because of this bit from Slide 10:
> These new vehicles, including more affordable models, will utilize aspects of the next generation platform as well as aspects of our current platforms, and will be able to be produced on the same manufacturing lines as our current vehicle line-up.
> This update may result in achieving less cost reduction than previously expected but enables us to prudently grow our vehicle volumes in a more capex efficient manner during uncertain times. This would help us fully utilize our current expected maximum capacity of close to three million vehicles, enabling more than 50% growth over 2023 production before investing in new manufacturing lines.
> Our purpose-built robotaxi product will continue to pursue a revolutionary “unboxed” manufacturing strategy.