Thank you.

Hey everybody, Rob Maower here and today we were talking about some news from BMW as well as GM's earnings report. We don't have a whole lot of

Tesla news so I'll keep it relatively short today and I want to make sure that

people have plenty of time to listen to yesterday's episode which was an

interview with Piper Sandler's Alex Potter.

We talked about Tesla for about an hour and a half.

I always appreciate hearing his perspective.

He's really open and honest, which I appreciate.

So definitely check that out.

One of the things we talked about and one of the themes that I've been discussing over the last few weeks is just how this macro environment makes it more difficult for Tesla's competition to compete.

We've already talked about signs of that from Ford with their cancelling of the Rivian slash Lincoln

SUV electric vehicle project. Well we have a couple of pieces of news from

BMW over the last couple of days starting with today the news that they will be

postponing their investment in a new vehicle

factory that was supposed to be built in Hungary in 2023. This project was a

$1 billion plus project that was expected to be able to produce 150,000

vehicles per year and this was intended to be able to produce 150,000 vehicles per year, and this was intended to be able to be flexible

and produce both internal combustion engine vehicles and what BMW refers to as electrified vehicles.

We've talked in the past about BMW's preference

for flexible architectures and why I don't think that's a good idea,

but Klais Frillick at that time said that this was a couple

months back that, quote quote a flexible architecture is the

...