Back to Tesla today We’re talking about the update on Giga Berlin closed 5.9 percent down at 724.37, significantly underperforming the Nasdaq, which closed the day 1.2, especially from the sector.
Which caused Tesla to underperform among automakers, Tesla outperformed today, so who knows what’s going on. I’m sure most people will look at the lack of an obvious reason and tell Twitter this is a simple excuse and maybe it has some legitimacy.
But we won’t spend much time on that, it’s really a back and forth between Elon and Twitter. And I’m sure about what percentage of Twitter users are bots, but we’ll leave aside the only other thing I noticed before today that people might associate with stock performance news.
Funny that Ray Dalio’s Bridgewater colleagues closed their Tesla positions in the first quarter, so oh maybe those following those trades or panicked because of the position’s closure,
They only had 25 000 shares of tesla stock which yes would be a lot for one person but not for their fund they have $25 billion in assets under management so their tesla position really underweight tesla Their funds were slightly more than a tenth of a tenth.
SP500 so it’s not like they had some high conviction in tesla in the first place they are turning around very inconsistent now so joining some other news i want to start in germany we got the updates giga berlin and other items as well, he says before a report by teslamag.
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He has heard from two sources that q currently produces only 86 Model y performances per day at a German factory and takes almost twice the time employed 90 seconds to work at different stations, then vehicles too intensive However, local production of the drive is about to begin.
A significant increase is planned on the last bit in June and for the second half of July, where they say the drives will likely be drive units hence the motors and related parts that Gigaberlin is sourcing from China at the moment 86 vehicles per day.
We don’t get really high volume or really high vehicle identification numbers out of Giga Berlin and for reference will be max production of about 600 vehicles per week or 7 500 per quarter so that sounds right and with this report I think .
Expectations for Giga Berlin are pretty sluggish this year e Shanghai downtime for Q2 needs to be under control I think it’s not quite that far to ramp up but as this report says that’s expected That will increase the pace of production for the second half of July.
Like Tesla plans to add a second shift and he’ll have a pretty good q3 and set up on that in a second, but the other thing that got some attention with this report was a line at the end where he says and Grundheider There are 2 rumours.
Million orders for model y performance from markets that are to be served by Giger Berlin, well that may sound like it would be exciting, i think tesla would hopefully be mismanaging its business if it were true ,
Where they wanted to build. Such a huge backlog though I don’t think there is any chance that this is accurate. The wait time for a Model Y performance is only three to five months which doesn’t quite fit with two million orders rs that order amount even in customer deposits 520 million would represent.
Tesla has about 1.1 billion on their entire order book right now and that’s for all products in all markets9 Tesla Automotive Tesla Energy Retail and Utility Just for Model y performance Just for Europe it’s not really about half
Makes a lot of sense so that rumor doesn’t need too much critical thinking here, I’d almost say it’s based on the information in the first part of the article but for that he at least said that two sources gave him that information But here it was just a vague comment about the rumours.
Well, the other update that we have on Giga Berlin is coming from Alex Voigt who shared a portion of a report last week given by the York Steinbach Economic Minister of Brandenburg, Steinbach said that Giger is now in Berlin. To date, several thousand Model Y have been built.
Which doesn’t really tell us much as it may include pre-production test vehicles that were already close to a few thousand, surely Tesla would have made at least a thousand more by now and here Even if it doesn’t count those.
Which could still be as low as 3,000 vehicles and it would be on the low end of what people would be hoping there would be total production from Berlin w not much to take away from it but then Alex also reports that Steinbach has confirmed.
That the second shift is scheduled to start at the end of the second quarter and the production ramp to quote the third shift is planned based on the end quote. Tesla Mag’s report said that a significant increase in production rate in the second half of July is calling the second shift in the second quarter.
Which will probably be in June so maybe some buffer in the production plan to integrate that second shift and then really start going to volume production in the second half of July, so start reading the tea leaves there,
That I don’t expect big volumes for q2, but things look a lot more hopeful for q3, which by the way looks like these could be setting up two quarters,
In terms of how the quarterly results are okay. er little update that we have out of germany is from a youtube hanl ai for dummies they happen to visit the tesla automation center in west gerany this came from tesla’s acquisition of growing automation a few years ago.
This person happened to spot some 4680 battery canisters on site these were a recycling bin right next to a couple desks so probably empty canisters and in general I don’t think it’s too remarkable.
It shouldn’t be too surprising to see these here because Tesla does a lot of testing and the design and engineering of their manufacturing processes in this location and for the Tesla 4680 is really at the heart of it all, so Tesla has to develop that equipment in this building.
Right after we’ve got a few updates on GigaShanghai. We previously discussed reports that Tesla is about to add a second shift and be back on full production and even beyond full production by May 16. wanted to go
Tesla has delayed plans to restore production at the level of Shanghai plants at the city’s cove 19 lockdown before Reuters reported today.
That’s at least a week according to an internal memo seen by Reuters and they note that Tesla will shift to the current one with a production of around 1200 vehicles per day