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Unavailable03 July 2018 | Model 3 Production Exceeds S And X Combined, Nissan Abandons $1bn Battery Sale and EV Myth Busting
Currently unavailable

03 July 2018 | Model 3 Production Exceeds S And X Combined, Nissan Abandons $1bn Battery Sale and EV Myth Busting

FromEV News Daily


Currently unavailable

03 July 2018 | Model 3 Production Exceeds S And X Combined, Nissan Abandons $1bn Battery Sale and EV Myth Busting

FromEV News Daily

ratings:
Length:
19 minutes
Released:
Jul 2, 2018
Format:
Podcast episode

Description

Well good morning, good afternoon and good evening, wherever you are in the world, hello and welcome to the Monday 2nd July edition of EV News Daily. It’s Martyn Lee here with the news you need to know about electric cars and the move towards sustainable transport.   "I THINK WE JUST BECAME A REAL CAR COMPANY" The latest numbers for Quarter 2 have been confirmed from the investor relations portal at ir.tesla.com so let's dive into them, and have a think about what it means. Plus in a minute or two, I'll reveal the exact number of Model 3 reservation holders still on the list - and I'll tell you why I has to ask Ride The Lightning’s Ryan McCaffery first - but more on that in a mo. Stay with me. The first clarification I wanted to make today was just to counter all those articles today which said the 5k Model 3 achievement was simply a burst rate and couldn't be replicated. Whilst you might understand if this week staff took a day or two R&R, and maybe that went down to 4.5k, the hardware is there to hit that number. Maybe a supplier is late with something and that slows you down, but General Assembly is built. So that argument doesn't make sense. And it's fair to say that in the past Tesla has taken a one day rate of production and multiplied by 7 to get a theoretical week, but I don't think that point was made very clear by many websites today. So a reminder the 5k figure is how many Model 3's they made last week. Reuters have a couple of quotes: "“It was pretty hectic,” said one worker who described the atmosphere as “all hands on deck.” Another worker speaking after the 5,000th car was made described the factory as a “mass celebration". One worker told Reuters that, to meet the goal, employees from other departments were dispatched to parts of the Model 3 assembly line to keep it running constantly, and breaks were staggered “so the line didn’t stop moving.” On Twitter I asked Domenick at InsideEVs how many the final number was, because their monthly sales scorecard is the best out there in terms of accuracy. The answer is 5,031 Model 3's and 1,913 Model S and X vehicles. So Domenick that you for your reply. According to Tesla: "Q2 production totalled 53,339 vehicles, a 55% increase from Q1, making it the most productive quarter in Tesla history by far. For the first time, Model 3 production (28,578) exceeded combined Model S and X production (24,761), and we produced almost three times the amount of Model 3s than we did in Q1. Our Model 3 weekly production rate also more than doubled during the quarter, and we did so without compromising quality." "GA4, our new General Assembly line for Model 3, was responsible for roughly 20% of Model 3s produced last week, with quality from that line being as good as our regular GA3 line. We expect that GA3 alone can reach a production rate of 5,000 Model 3s per week soon, but GA4 helped to get us there faster and will also help to exceed that rate." "Tesla expects to increase production to 6,000 Model 3s per week by late next month. We also reaffirm our guidance for positive GAAP net income and cash flow in Q3 and Q4, despite negative pressures from a weaker USD and likely higher tariffs for vehicles imported into China as well as components procured from China." And now onto how many Model 3 reservations there are outstanding. I'm no Tesla expert, because this podcast covers all markets and all car makers, so when you want really in depth knowledge I'd always say your go-to shows are Ryan McCaffery's Ride The Lightning coming up on it's 3rd birthday, and Trevor from Model 3 Owners Club, and Rob from Tesla Daily for things like the financial side. So Tesla revealed the exact number of outstanding Model 3 reservation holders, and it's something I’ve only ever heard in vague numbers before. So I asked the expert and Ryan for whether Tesla have done this before? "Hey Martyn. Not quite the first time, but you're right that they've kept it close to the vest, mostly. I believe last quarter th
Released:
Jul 2, 2018
Format:
Podcast episode

Titles in the series (100)

A daily podcast about electric cars, hybrids and sustainable transport news.