Week 50/24 Overview: Details on Model Q, Musk's energy ventures, Cybertruck in China, and sustainable health data from Tesla
In the world of electric vehicles, Tesla continues to make headlines with its ambitious plans. Here's a roundup of the latest developments.
The Cybertruck
Tesla's Cybertruck, with a weight of around 3.1 tons and a range of 618 kilometers according to the China standard, has been registered at the Chinese Ministry of Industry and IT. The Cybertruck boasts three engines, each with a peak power of 206 kW and twice 222 kW.
Tesla's German Factory
Tesla's German plant in Brandenburg's Gruenheide has been a success story. In 2023, the factory more than tripled its revenue to 7.8 billion euros. The factory is not only supplying the European market with the Model Y, but also a significant portion of the EMEA region. In 2024, Tesla plans to produce a total of 287,000 Model Ys in Gruenheide.
Workforce and Delivery Numbers
As of December 31, 2023, Tesla reported 12,259 employees, including temporary workers. However, the production of Model Ys fell short of the initial plan, with 200,000 Model Ys delivered in 2023.
The Rumored Model Q
The rumored Tesla "Model Q" is shaping up to be a significant addition to Tesla's lineup. The compact electric car is expected to be produced in Gruenheide and feature Tesla's latest electric platform, advanced battery technology, and multiple motor configurations for performance and efficiency. Deutsche Bank has given it a bold prediction, contributing to an increased Tesla price target, citing the Model Q as a growth driver.
However, CEO Elon Musk has clarified that Tesla’s forthcoming more affordable electric vehicle will be a simplified/smaller version of the Model Y rather than an all-new Model Q platform. This suggests some ambiguity or evolving plans regarding the "Model Q" naming and concept.
The Model Q, as per Deutsche Bank's Autonomous Driving Day study and recent reports, remains a strong part of Tesla's future product narrative. However, Tesla’s official communications indicate that the affordable EV rollout will initially leverage the existing Model Y platform, leaving some uncertainty about whether the Model Q will fully launch as originally envisioned or if it will emerge later as a distinct model.
Notable Endorsements
In other news, Elon Musk was named Person of the Year 2024 by Time magazine. Jeff Bezos trusts that Musk will not misuse political power for the benefit of his companies. Sam Altman, CEO of OpenAI, believes Musk will do the right thing.
A video published on X shows a Cybertruck being inspected and filmed at a BYD factory, hinting at potential collaborations in the electric vehicle industry.
As Tesla continues to push the boundaries of electric vehicle technology, these developments promise an exciting future for the company and the industry as a whole.
- In the realm of business and finance, the latest developments indicate that Tesla's upcoming Model Q, a compact electric car, is expected to be a significant growth driver for the company, according to Deutsche Bank.
- Amidst the rise of technology in the business world, Tesla's German factory in Gruenheide has been a significant success, tripling its revenue to 7.8 billion euros in 2023, and supplying not only the European market but also a significant portion of the EMEA region.
- In the domain of general-news and sports, Elon Musk, the CEO of Tesla, was named Person of the Year 2024 by Time magazine, and has garnered trust and endorsements from influential figures such as Jeff Bezos and Sam Altman.
