Strong China Numbers, BYD Production, CATL, Hardware 4, Project Highland, Giga Press, Boring Co (03.21.23)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 22 March 2023
⏱️ 14 minutes
🧾️ Download transcript
Summary
➤ Tesla momentum continues in tough China market
➤ More reporting on BYD production stoppage
➤ CATL starts new battery production
➤ Possible sign of additional Giga Press for Texas
➤ Hardware 4.0 insight from new owner
➤ Rumors on Tesla’s Project Highland
➤ Bloomberg begins new Tesla survey
➤ The Boring Company seeks further Vegas expansion
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Executive producer Jeremy Cooke
Executive producer Troy Cherasaro
Executive producer Andre/Maria Kent
Executive producer Jessie Chimni
Executive producer Michael Pastrone
Executive producer Richard Del Maestro
Executive producer John Beans
Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody, we're out now. We're here. Apologies for the audio issues on that first |
| 0:11.2 | live stream. I think I got those straightened out with a restart. So we should be all good |
| 0:14.6 | now for the second attempt. But today we are going to be talking about some awesome numbers |
| 0:19.1 | for Tesla out of China. We also have some new insight on Tesla's hardware for some rumors |
| 0:24.2 | on Project Highland and a few other items as well. Alright, we'll start off with the stock |
| 0:28.1 | Tesla today up 7.8% closing at $197.58 NASDAQ on the day up 1.6%. I think Tesla today riding |
| 0:36.4 | kind of a nice confluence of tailwinds with the Moody's upgrade on credit rating yesterday |
| 0:41.0 | that we talked about the China numbers that we'll talk about in a second. And then just |
| 0:44.7 | the automotive sector and gross stocks today in general seeming to do better. So good |
| 0:48.8 | to see that performance from Tesla on the day to day. We'll get into the China numbers |
| 0:53.0 | now. Really exciting numbers here. Really happy with these Tesla for the week of March |
| 0:57.0 | 13th through March 19th, according to CPCA data. 18,700 vehicles insured for the week. |
| 1:04.6 | It's up about 1700 from the week prior. I believe this is the second highest week for |
| 1:09.1 | Tesla's insured vehicle numbers in China. So really happy to see this, especially after |
| 1:14.3 | in Q4. Of course, we saw the taper down towards the end of the quarter like we had talked |
| 1:18.6 | about. If we look quarter to date, as we have been doing with the last few set of numbers, |
| 1:23.3 | Tesla has now improved from down 10% quarter to date through the first 10 weeks of the quarter. |
| 1:28.1 | Last week when we talked about it, to now through 11 weeks down just 1% less than a thousand |
| 1:33.2 | vehicles from the week prior. So the quarter to date number from a week prior. So huge |
| 1:38.7 | progress. Again, as Tesla comes up against those easier comps, really happy to see that. |
| 1:43.8 | And we should be very much on pace for Tesla to now have a record quarter in China here |
| 1:48.6 | in Q1 despite obviously as we've been talking about a really difficult quarter in the automotive |
... |
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