Tagged: Tesla

There’s something wrong with Tesla again

Earlier in the day, a Tesla (701.81, 24.93, 3.68%) car crashed into a state police patrol car in the Lansing area, when it was equipped with the autopilot function, Michigan police said on Wednesday.

There's something wrong with Tesla again

Police said neither the police in the patrol car nor the 22-year-old man driving Tesla were injured in the crash on interstate 96 in Eton county at 1:10 a.m.

 

At the time of the accident, state police were investigating a collision between a car and a deer. Police said the driver of the Tesla was summoned for failing to give way and driving without a license, which has been revoked.

 

A spokesman for the National Highway Traffic Safety Administration (NHTSA) said the agency was aware of the incident involving Tesla. “Based on NHTSA’s vigilant supervision and strong authority on the safety of all motor vehicles and equipment (including automation technology), we have set up a special investigation team to investigate the accident,” he said

 

This is the second time in less than a week that the national highway traffic safety administration has sent an investigation team to Michigan to investigate the crash involving Tesla.

 

Earlier, a special accident investigation team was sent to Detroit to investigate an accident in the city last Thursday in which a Tesla crashed into the bottom of a semitrailer truck, seriously injuring two people.

 

This accident is similar to two other accidents in Florida in 2016 and 2019, in which Tesla crashed into the bottom of a towed trailer.

Is the Tesla bubble about to burst?

Recently, Tesla’s stock price has fallen one after another.

Is the Tesla bubble about to burst?

On March 5th, Eastern Time, Tesla’s stock price dropped by 13.19% in intraday trading, and closed with a drop of 3.78%. The closing price of the day was 597.95 US dollars per share, which was the lowest since 2021.

So far, Tesla’s stock price has fallen from its peak of $900 per share on January 26 to less than $600 per share, a drop of more than 30%. In more than a month, Tesla’s market value has evaporated by 270 billion U.S. dollars, and the latest market value is about 573.9 billion U.S. dollars.

Some analysts believe that factors such as the current shortage of chips and the increasingly fierce competition in the electric vehicle field have caused Tesla’s stock price to fall.

The stock price has shrunk “2 Ford + 2 GM”

Since Tesla CEO Musk disclosed on February 8 that he had invested $1.5 billion in the purchase of Bitcoin, Tesla’s stock price began to show signs of decline, and it has continued to this day.

The continued decline in stock prices caused Tesla’s market value to shrink by more than $300 billion. This value is more than twice the current market value of Ford (F, market value: US$48.819 billion) and General Motors (GM, market value: US$77.449 billion), and is more than twice the current market value of Toyota Motor (TM), the world’s second-highest automaker by market value. The market value of 2076.28 billion U.S. dollars) is even higher than 100 billion U.S. dollars.

Picture source: Photo by reporter Liu Ling (data map)
In the view of Cao He, president of Quanlian Auto Dealer Investment Management (Beijing) Co., Ltd., the decline in Tesla’s share price means that it has entered a “squeezing bubble” stage. “It can be said that (the stock price decline) is a sequelae of Tesla’s (stock price) continuous skyrocketing last year. The stock price was too high before and now it has entered a period of decline or deep decline, which is normal.” Cao He is accepting “Daily Economic News” The reporter said in an interview.

In 2020, Tesla’s share price skyrocketed, with an increase of more than 700% during the year, and Musk, who holds more than 20% of the shares, also became the world’s richest man. Public data shows that from March 19, 2020 to January 26, 2021, Tesla’s stock price soared by more than 1,100%.

Jiang Han, a senior researcher at Pangu Think Tank, also said: “For a stock like Tesla, it is actually impossible to rise forever, and it is impossible to make money and profit continuously. A fall is a high probability event.”

In fact, JPMorgan Chase poured “cold water” on Tesla’s stock price and market value soaring in December last year. JPMorgan Chase said that Tesla has been “severely overvalued” and its stock price will plummet by more than 80%.

JPMorgan Chase analyst Ryan Brinkman once stated in a research report that basically all valuation indicators show that Tesla’s stock price is “severely overvalued” and investors should not increase Tesla before it is officially included in the S&P 500 Index. hold.

There is a view that Tesla’s share price fell because investors worried that the automaker might be severely overvalued. At the same time, rising U.S. bond yields make companies that pay small dividends unattractive.

It is understood that in the fourth quarter of 2020, the US Bridgewater Fund will finally sell 35,000 Tesla shares. At this point, this fund has all liquidated the 212,000 Tesla shares it bought in the fourth quarter of 2019.

But Wedbush Securities analyst Dan Ives believes that the decline in Tesla’s stock price is temporary, and the recent correction is an excellent buying opportunity. In the next 12 months, Tesla’s stock price target is set at $950 per share. “Tesla’s market value may reach US$1.5 trillion to US$2 trillion in the next two years.” Ives said.

Multiple factors have caused the stock price to fall

“Tesla’s stock price may not see a surge similar to last year’s in 2021, and it will be difficult to achieve a new high.” Cao He believes.

Some analysts believe that the stock price has entered a callback period, chip shortages, market competition and other factors, which ultimately caused a sharp drop in Tesla’s stock price this round.

It is understood that Fed Chairman Powell stated on March 4 that the restart of the US economy may put upward pressure on prices and push up inflation. The market is currently generally worried that interest rates will rise.

Powell’s statement caused a shock in the U.S. stock market, leading to large-scale adjustments in many technology stocks such as Tesla and Apple. Analysis believes that technology stocks rely on the expectation of substantial growth in future cash flows, and once the level of inflation rises, the value of these future cash flows will undoubtedly be greatly discounted.

Image source: Photo by reporter Sun Tongtong (data map)
In addition, the current fierce competition in the field of electric vehicles has allowed more investors to stop focusing on Tesla, but gradually spread the “eggs” into other baskets. For example, Ron Barron, the founder of American Barron Capital, has sold about 1.7 million shares of Tesla and invested in Tesla’s rivals-General Motors Cruise and Amazon-backed Rivian.

It is understood that traditional automakers including Ford and Volkswagen have begun to seize Tesla’s market share in the United States and Europe. Currently, the sales of Ford Mach-E and Volkswagen ID.3 have soared in the US and European markets.

At the same time, the current global chip shortage also endangers Tesla. “The chip shortage has the same impact on global car companies, and this is a common problem.” Cao He said.

In the past few months, the global automotive industry has encountered unprecedented chip supply shortages, and many companies, including Tesla, have announced measures to stop production and reduce production. On February 25, Musk said that Tesla’s factory in Fremont, California was temporarily closed due to a shortage of parts.

In fact, at the financial report analysis meeting for the fourth quarter of 2020, Tesla has already issued an early warning that the shortage of chip supply may affect the company’s production goals in the first half of this year.

In addition, cost control is also a major factor affecting Tesla’s stock price. At the end of last year, Musk said in a letter to all employees that investors believed in Tesla’s profitability. However, if investors change their minds, Tesla’s stock price may plummet. At the moment, Tesla is building factories in Texas, USA and Brandenburg, Germany at the same time, which may put a lot of financial pressure on Tesla.

Longi shares entered Tesla’s “backyard”

After the market on March 4, LONGi issued an announcement stating that it plans to spend 1.635 billion yuan to acquire 27.25% of the shares of Center Shixing Group Co., Ltd. (hereinafter referred to as “Centre shares”, 603098.SH) at a price of 12.50 yuan per share. .

The price of 12.50 yuan per share is 30.75% higher than the closing price of Sente shares on March 4.

Longi shares entered Tesla's "backyard"

It is understood that the parties to this transaction include Liu Aisen, the controlling shareholder and actual controller of Sente, Beijing Shixingshengya Investment Co., Ltd. (hereinafter referred to as “Shixingshengya”, wholly-owned by Liu Aisen and his wife Li Guiru), and another Huayong Investment Group Co., Ltd. held by natural person Li Yong.

Of the approximately 131 million shares transferred in total, Liu Aisen and Shixingshengya accounted for 63.30%, which means that Liu Aisen and Li Guiru will cash out about 1.035 billion yuan in this transaction.

Affected by this news, on March 5, Sente shares bid up to the limit of 10.52 yuan, a record high in the past five months, with a market value of 5.050 billion yuan.

After the completion of the share transfer, Liu Aisen and Shi Xingshengya will reduce their total shareholding ratio from 57.43% to 40.18%. They will remain the controlling shareholder and actual controller of Sente. Longji will become the company’s second largest shareholder with a shareholding of 27.25%. .

According to data, Sente was established in December 2001 with a registered capital of 480 million yuan. Its main products are new building materials. It mainly undertakes metal enclosure system engineering (roofing system, wall system) and sound barrier system engineering, and provides secondary engineering Engineering contracting services from consulting, design, supply of special materials and processing to installation and construction. At the end of 2016, the company successfully landed on the Shanghai Stock Exchange.

Longi shares said that this acquisition will help promote the business integration of both parties, give full play to the advantages of Cente shares in the design and maintenance of building roofs, and combine Longi’s advantages in BIPV product manufacturing, and the two parties will jointly develop the large-scale public building market. business development. It will help the company expand the scope of distributed markets and expand the application scenarios of photovoltaic products.

According to the “Technology Innovation Board Daily” report, as the current domestic photovoltaic industry integration leader, Longi announced its entry into the BIPV (Building Integration of Photovoltaics) market in 2019. At the same time, it plans to achieve BIPV revenue of 10 billion yuan by 2024. Successfully released the first prefabricated BIPV product “Longding” in July last year, mainly for the roofs of industrial and commercial plants.

Changjiang Securities Research pointed out that LONGi’s positioning in BIPV construction is mainly based on building materials. Although BIPV-related products were also available in the early market, they did not achieve widespread promotion due to the relatively high cost at that time. With the long-term downward trend of component manufacturing costs, BIPV products are gradually recognized by the market in terms of economy and aesthetics, and are expected to open up the domestic blue ocean market.

In China, earlier than Longji, the BIPV project at the Jintan base in Jiangsu Province had been connected to the grid and put into operation; Hanergy released the first-generation BIPV product Hantile in July 2017, mainly for industrial and commercial roofs.

Globally, Tesla has done better in this area. It acquired SolarCity, a leading company in the installation of household solar energy systems in the United States in August 2016.

In 2019, Tesla’s energy business relied on SolarCity to achieve revenue of 1.53 billion yuan, accounting for 6.2% of total operating revenue. In the conference call after the announcement of the earnings report, Musk made it clear that he would turn the solar roof into a major business of Tesla. According to him, there is a growing demand for glass solar roofs. In the North American market, Tesla’s annual orders are 4 million new roofs.

“BIPV is one of the most important fields of photovoltaic applications in the future. LONGi intends to acquire 27.25% of Sente’s shares at a premium and become the second shareholder. It will form a strong alliance in the BIPV field to solve the problem of the separation between the photovoltaic circle and the construction circle in the past, and to expand the distribution The scope of the market, forming strong competition with Tesla and other competitors.” Independent economist Wang Chikun said.

Does Tesla apologize like your boyfriend

Xinhua published “Tesla apologies” on the evening of the 1st! That’s it? 》An article pointed out that Tesla’s apology to Nanchang Power Grid once again triggered hot discussion. Timely apology is worth affirming, but some netizens are not satisfied: Tesla “threw the pot to the car owner again”, and pointed out that “in response to consumer queries, we can’t understate, let alone be arrogant.”.

 

Frequent quality problems

Does Tesla apologize like your boyfriend

Mr. Tu of Nanchang is not the first car owner to encounter Tesla charging problems. According to Qianjiang Evening News, Mr. Zhao, the owner of Hangzhou Tesla, spent more than 700000 yuan to buy a model s in 2017. Since the beginning of 2019, the car can’t be charged with electricity. After four or five times of maintenance in a Tesla maintenance center in Hangzhou, the cause of the fault has not been found, and the maintenance center has not issued a repair order.

 

In addition to the charging problem, Tesla has also had a number of quality accidents in the past year: in November 2020, when a Tesla Model s was driving at a high speed, the glass skylight suddenly fell off, flew up and rolled down in the air for several laps; in January 2021, a fire and spontaneous Combustion Accident of Tesla Model 3 occurred in a residential area in Minhang District, Shanghai, with four heavy smoke and explosion at the scene.

 

According to some media reports, incomplete statistics show that in 2020 alone, Tesla will have at least 11 out of control accidents in China. According to the observation of Zhongxin Jingwei (micro signal: jwview), throwing the pot is a common way for Tesla to respond to the problems: for example, broken axle is due to bad road; brake failure and out of control acceleration are due to slippery road and improper operation of the driver; spontaneous combustion is a loophole of the battery supplier; and this charging accident is expressed as unstable voltage of the State Grid, and the apology also points to the recording clip of the car owner.

 

Among the 11 accidents mentioned above, statistics show that 4 cases of official failure, 2 cases of official vehicle failure, 1 case of computer crash while driving, and the rest are due to user misoperation.

 

Tesla made a recall in the Chinese market in October 2020. According to the announcement of the State Administration of market supervision and administration, Tesla recalled 29834 imported model X and model s in China due to problems in the front suspension, rear link and rear suspension.

 

Later, in a letter to NHTSA (National Highway Traffic Safety Administration), Tesla still denied that there were hidden dangers in its vehicle suspension, and insisted that it was caused by abuse by some Chinese car owners, disagreed with the view of recall, and only chose the voluntary recall scheme.

 

In this regard, Xinhua News Agency once criticized Tesla’s throwing pot behavior. In “Tesla’s malicious throwing pot is unreasonable arrogance to Chinese consumers”, it said: “all cars have been recalled in China, but Tesla doesn’t admit it overseas. Chinese users’ habits of throwing pot and the pressure of regulatory authorities can’t be used to this unreasonable arrogance.”

 

In fact, Tesla’s overseas model quality ranking is not optimistic. Tesla ranks second to last in the consumer report reliability rankings of the United States in 2020. J.D. Power, an American market research company, released a new car quality research report for the U.S. market in 2020. According to the report, Tesla’s initial quality score is 250pp100, which means that for every 100 Tesla models, there will be 250 problems, ranking at the bottom.

 

Experts call for more regulation

 

In an interview with Zhongxin Jingwei, pan Helin, executive director and professor of Digital Economy Research Institute of Central South University of economics and law, said that Tesla should put down its arrogance in consumer after-sales.

 

“At present, with the gradual rise of domestic new energy vehicles, Tesla can not rest easy. Domestic new energy vehicles are still in the process of user training and slow introduction, so Tesla should take the initiative to take responsibility and improve the quality of Tesla products.” Pan Helin further analysis.

 

According to the data released by the passenger Federation, in 2020, Tesla Model 3 sold 137400 vehicles in China, becoming the annual sales champion of new energy vehicles in China.

 

Wang Binggang, head of the national new energy vehicle innovation engineering expert group, pointed out in an interview with Zhongxin Jingwei that it is necessary for the Chinese market to have a comprehensive understanding of Tesla and further safety supervision. “Don’t blindly follow the trend and praise Tesla to belittle domestic independent new energy vehicles. Security and reliability are the first concerns of users. Although some intelligent projects are new and attractive, we should also understand their practicability. ”

 

Pan Helin also pointed out that we should pay attention to the quality after-sales supervision of new energy vehicles. New energy vehicles are an emerging industry, which is essentially different from the traditional automobile manufacturing industry, including the three electric systems and automobile safety problems are reshaping. Therefore, it can be predicted that there will be some problems with poor use experience. “At this time, we should strengthen supervision and let automobile enterprises invest in improving products to meet market expectations for product quality.”

 

Yan Jinghui, member of the expert committee of China Automobile Circulation Association, also said in an interview with Zhongxin Jingwei that for an emerging industry, the emergence of problems is itself a drastic measure to promote product improvement, while Tesla “self defeats itself” and makes the public angry with its irresponsible attitude. “In fact, the attitude of the manufacturer is the most important. We should sincerely look for and publish problems. Throwing away the pot can only be avoided for a while. In the long run, it will lose the trust of consumers. “

The rider died suddenly while delivering meals

On May 6, 2020, Xiao Gang (pseudonym)’s life was frozen in the spring of Wuhan. After dealing with the funeral affairs, Feng Yuan was “in a mess”. When applying for work death compensation for her husband, she found that Ele.me and third-party companies who “have not expressed their views” from beginning to end did not have a labor relationship with her husband. The labor arbitration ruling stated that the non-traditional labor employment relationship in this case is a new type of employment model through the Internet platform terminal. “The identification of labor relationship should not be generalized.”

The inconsistent arbitration made Feng Yuan feel “difficult to go down”. At the end of November 2020, she found a lawyer and planned to go through litigation procedures to protect her rights. In her opinion, “non-labor relations, as well as labor and employment relations”.

Regarding this situation, Liu Ming, a lawyer from Hunan Ruibang Law Firm, said that the agreement signed by Hummingbird crowdsourcing and the rider at the time of registration is suspected of “scratching the ball”. The behavior of Ele.me may be through a third party looking for an empty shell. Companies to avoid risks. Liu Ming believes that the relevant departments need to give the family of the deceased a clear statement to determine the relationship between the two parties, so as to avoid wrangling during the lawsuit.

On the morning of January 13, a reporter from the Xiaoxiang Morning News contacted a third-party company and Ele.me that had labor services related to the deceased. However, as of the press time, no reply was received.

The rider died suddenly while the family members were unable to confirm the labor relationship

At 7:31 pm on May 6, 2020, Wuhan Ele.me rider Xiao Gang suddenly fainted at the entrance of the Industrial and Commercial Bank of China on the first floor of the Airport Center City, Panlongcheng F, Huangpi District, on the way to deliver the meal, and died after rescue.

The bad news fell, and his wife Feng Yuan was in a mess. On the evening of May 7, the crowdsourcing manager of the “Hummingbird Crowdsourcing” Panlongcheng WeChat group where Xiao Gang was working contacted Feng Yuan, asked her about the police station that handled the case, and asked her what she needed as a family member. No reply yet, the other party said that they had given her call to the outsourcing company “Anhui Lanzhe”, “equivalent to the personnel aspect of a rider” and told her not to miss the call.

Feng Yuan asked the other party for suggestions, and the other party suggested that she go to the policeman who handled the case, and only told her that she was “hungry?” The next day, an employee of Anhui Lanzhe contacted Feng Yuan and told her that she would help declare the 30,000 yuan sudden death insurance. After that, Ele. Hungry left the site until Feng Yuan filed a labor arbitration, “2000 yuan humanitarian compensation”, “special application to 15,000 yuan”. Yuan” were all proposed by Anhui Lan Zhe.

Later, Feng Yuan learned that this Anhui Lanzhe, who she had never heard of before and thought she was hungry, was actually a third-party company. Public information shows that Anhui Lanzhe’s full name is Anhui Lanzhe Human Resources Service Outsourcing Co., Ltd. Its business scope includes human resource service outsourcing, labor outsourcing, etc. through service outsourcing. Spark Global Limited

Feng Yuan clearly stated that she did not want this compensation. She wanted to make a work-related injury determination, but Anhui Lanzhe stated that “there was no work-related injury.” The negotiation failed. In June, Feng Yuan applied to the Labor and Personnel Dispute Arbitration Committee of Huangpi District, Wuhan City for arbitration, requesting confirmation of the labor relationship between her husband and Anhui Lanzhe, and demanding that the other party pay 800,000 yuan in accordance with the work death standard. At the same time, Feng Yuan applied for “Hangzhou Lazas” controlled by Shanghai Lazas Information Technology Co., Ltd. to which Ele. me belongs to bear joint and several liability for Anhui Lanzhe.

In the arbitration tribunal, Anhui Lanzhe’s defense seemed to explain the three relationships that Feng Yuan could not understand, but it also completely denied the labor relationship. The defense stated that Xiao Gang was a rider under the crowdsourcing project carried out by him and Hangzhou Lazas’s “Ele.”. Xiao Gang self-registered on the “Hummingbird Crowdsourcing” mobile phone software, which is temporary and part-time. The online appointment rider, “the two parties have not reached an agreement on establishing a labor relationship.”

Tesla slashes Chinese car market with price cuts

Tesla slashes Chinese car market with price cuts
Model Y: Cancelled?

For just experienced the capital market in 2020 crazy and hot new car companies, I am afraid who did not expect in the New Year, “chill” will come so fast.

On the New Year’s Day of 2021, after Tesla announced the price of domestic Model Y on its official website in China and started to pre-order it, the price cut was as high as 160,000 yuan compared with the previous imported version, which made it “break the market” quickly. Almost every Tesla store showed a “grand occasion” of people watching the car.

In contrast, Nio and other new car companies can only describe the situation with a small number of people. AI business club found in the field visits, on January 4, daxing will gather in Beijing shopping mall and even weekday tesla stores were still an endless stream, at the same time, in the same mall wei to in-store customers are numbered, ideal, rammasun stores is long time not to enter, sales have mostly sit lazily playing the mobile phone. More than a dozen kilometers away, the Xiaopeng Car Delivery Center near Chengshou Temple has also been snubbed, though salespeople say traffic is mainly affected by weekdays.

Water on one side, fire on the other. “The website went down three times and all three phones ran out of battery.” “We had so many people coming to see the car that we didn’t even get a chance to get in the car ourselves,” one Tesla salesman told AI, recalling the hot and busy New Year’s Day holiday.

 

Rumor has it that Tesla booked 100,000 orders in 10 hours during the New Year’s Day rush. On the other hand, there are rumors that NIO has a large number of unsubscribed users or even its official website crowded and exploded.

Although Qin Lihong, president of NIO, responded on January 3 that NIO’s orders are stable and still increasing, “Some people say that NIO’s official website has been blown up because of cancellations, but NIO’s official website has never had anything to do with NIO’s orders. I think those people who are making rumors still need to do some research.”

Not only that, Qin LiHong also insisted that “no price reduction”, “NIO has a lot of shortcomings, but NIO’s configuration level and service level are worthy of the price”. On the same day, NIO released a very competitive official second-hand car policy and the rights and interests of old users to re-purchase, to continue to enhance NIO’s high premium advantage.

However, the New Energy “Three”, which made a big splash in the US stock market a year ago, are indeed affected to some extent.

AI financial news agency learned that in NIO APP, major automobile forums and second-hand trading platform Xianyu, many users in the low transfer of the original 20,000 large deposit, some users even at the lowest price of 60% discount to sell, and said that it will cooperate with NIO official sales to complete the transfer, and the period of the car are in January this year. That is to say, after the domestic Tesla Model Y’s price was announced on January 1, some Nio users who had previously paid a deposit switched to the Model Y.

Several transfer the user tell AI wei to deposit business club, most of them under the New Year’s day shortly before the “big” and ordering of the normal process according to wei, will be completed within 7 days “lock list”, but the domestic Model Y to publish price later, they were asked to postpone the lock list, there are a few people have to tesla had to pay 1000 yuan gold “placeholder”, now only waiting for after the transfer of wei to deposit to transfer “tesla’s big”.

Although the subsidy standard for new energy vehicles this year will be reduced by 20% on the basis of 2020, NIO timely introduced that users who decide to buy a car before January 10 can still enjoy a subsidy of up to 22,500 yuan in 2020, but it still can not stop users from switching to the Model Y, which is “really sweet with a low price”. In the view of these users, “wallet is honest, buy when it’s worth it, turn when it’s not worth it.”

When talking about his reason for transferring Nio ES8, one user explained to AI Financial News Agency that he transferred the Model Y at a discount because it was “really attractive”. The user said that Nio and Tesla’s vehicles have their own strengths. Tesla pursues the vehicle’s own performance, while Nio emphasizes the vehicle interior and user service. However, he also emphasized the reason why he gave up Nio for Tesla, saying that “after all, the car is bought and driven”.

Nio was called “China’s Tesla” in the early stage, and successfully imitated Tesla’s technical route of “fighting high with low”, so it was regarded as the most direct competitor of Tesla in the Chinese market. However, the two companies did not directly match the target products on the price level for a long time.

Until NIO EC6 appeared, the situation changed. Qin Lihong once admitted that “Model Y and EC6 are a product that can be completely compared”. In 2019 NIO Day, EC6 was officially unveiled as the third production car of Nio, but the price was not announced on the spot. According to Li Bin, chairman of Nio, Nio wanted to wait for Tesla Model Y to be released first, so as to leave some market flexibility for the pricing of EC6.

In January 2020, Model Y announced the starting price of the two versions of the long range and high performance, respectively 488,000 yuan and 535,000 yuan. Thus, NIO’s EC6 pricing is “targeted”. At last year’s Chengdu Auto Show, the price of EC6 was officially announced: 368,000 to 526,000 yuan, which “accurately” avoided the pricing range of Model Y.

Li previously explained the EC6’s pricing strategy, saying that “EC6 is in direct competition with Model Y, and NIO takes long-term competitive strategy into consideration when pricing.” But I am afraid that Li did not think that the Chinese Model Y pricing and NIO ES6 and EC6 tit for tat, in fact, has introduced the war into NIO product pattern “hinterland”.

Rivals or teammates?

While public opinion is worried that Nio will be rubbed on the ground, Nio appears to be “unusually calm” and is at pains to emphasize the difference between itself and Tesla.

Li previously stressed that NIO’s user profile has been different from Tesla’s, and the unit price of its products is generally higher than Tesla’s. He also said in a recent interview, tesla would like to be the next Volkswagen, Toyota, and wei to target is the Mercedes, BMW and audi, “sell BBA fuel car how many money, wei to electric cars to sell the same price, better than their service, performance, intelligentize degree is high, the products more competitive, service competitive, this is wei to the overall strategy.”

This is not Bin Li’s “wishful thinking”. In fact, after several years of development, NIO has indeed shown a different development trend from Tesla in terms of both products and brand image.

One had a job at tesla wei to sell also expressed a similar meaning to AI business club, in his view, tesla is a very aggressive company, “do whatever it takes to, including the price and other means to seize market share”, by contrast, wei to is a company “flexible”, “focus on vehicle interiors and user experience”.

The sales acknowledge that Tesla is ahead of Nio in electric control and autonomous driving technology, but Nio’s strengths lie in “lifetime warranty for non-consumable parts,” “power-changing services” and “rich community activities. Buying a Nio means you’re part of a higher-level circle.”

AI Financial News found on various automobile forums that since last year, people have been comparing Nio’s EC6, ES6 and Tesla Model Y. Those who like Model Y mostly focus on the vehicle’s performance, while those who support Nio focus more on the added value of the vehicle’s craftsmanship, interior decoration and after-sales service.

A prospective owner of Nio EC6, after comparing the Model Y with the real car, still gave up the idea of cancelling his subscription because the Model Y’s workmanship, window sealing and other aspects were far below his expectations.

 

Photo /Model Y Source: Tesla website

In fact, consumer psychology has always been difficult to grasp. The Nio salesman told AI Financial News that Nio’s and Tesla’s products have their own strengths and choosing which one is “all based on personal preference.”

For the impact brought by Tesla, although various enterprises have different caliber, but most of the attitude is as “calm” and fearless competition as NIO. He Xiaopeng, chairman of Xiaopeng Automobile, said via his social media account that “this time we are confident that Youquan will cut prices on New Year’s Day. We didn’t even hold an internal phone meeting.” Zhao Changjiang, general manager of BYD Sales Co., said on his Weibo account that he had known Tesla would “play like this”…

Confidence at the top seems to be trickling down to front-line salespeople, too. A Xiaopeng sales staff told AI Financial News that the P7 Xiaopeng has already had a “fight” with Tesla. “Not only are we not killed, but we live better and better.” In his opinion, the domestic Model Y launched by Tesla is not competitive with Xiaopeng. “People who come to our store to see the car are comparing with the Model 3.”

A sales staff of Ideal Auto is outspoken that Ideal has never regarded Tesla as a rival. First of all, the two companies have completely different technical routes. Secondly, “the enemy of all new energy vehicles should be fuel vehicles”. In the new energy vehicle circle, the second point seems to be a common idea. A number of leaders of China’s local new energy vehicle companies have previously expressed a similar idea: they hope to join hands with Tesla to make the cake bigger.

On the same day Tesla Model Y announced its selling price, NIO said on Weibo that it is a rival and a teammate. 2021, together with the power forward “. Qin Lihong also said on Jan. 3, “I think any electric car in the world sells well, we are happy. “The next decade will be a decade in which electric cars continue to take over the share of fuel vehicles. It’s just a matter of who comes first.”

Yu Liguo, president of new energy brand Arcfox under BAIC Group, also said on social media that those who make smart electric cars should thank Tesla, as it is the creator of this species. “We are not enemies, but our common enemy is actually non-smart cars.”

Tesla unveils China chaos

Tesla unveils China chaos
When the plane landed at Pudong Airport in Shanghai, through the clouds, it could see the sharp angle of the land extending to the sea. Further down, the unique circular Lake Dishui Lake area in front of the sharp angle of the land could be seen. This is the main urban area of Shanghai. Walking 20 kilometers southwest from here is “Tesla Shanghai Super factory”.
Surrounded by a vast and undeveloped farmland, the 860000 square meter Tesla factory is running day and night. Heavy trucks loaded with new Tesla cars of different colors are driving from here to all over China and the world.
On July 13, 2018, Tesla signed a contract with the Shanghai municipal government, announcing that the “super factory” will be located near the port of Shanghai. In January 2019, the factory was officially put into operation. In December of the same year, the first batch of model 3 produced by Shanghai factory was delivered. By October 2020, the offline model 3 will even be exported to Europe.
Everything is perfect “China speed”.
|Outside Tesla’s Shanghai Super factory, double deck trailers carrying new cars just out of the factory (photo source: pinplay)
Separated from the red double decker trailer carrying Tesla’s off-line cars, there are white buses carrying Tesla employees, and workers who live in nearby rental houses and commute on foot. In the coming 2020, Tesla’s share price has risen six times, and the third quarter is the best financial report in history. In that quarter, car production increased by 51% year-on-year and 65% month on month, reaching 145000.
Under the background that the United States is still shrouded by the new coronavirus, Europe’s new coronavirus mutates wildly, Tesla is unable to extricate itself from the “capacity hell” of manufacturing in the United States, and Europe’s Berlin super factory is shut down again, it is these Shanghai Super factory employees wearing fluorescent clothes and safety helmets that enable Tesla to complete the capacity climbing.
Tesla’s China speed has driven the crazy stock price of Tesla in 2020. As of December 23, 2020, Tesla’s market value has exceeded $610 billion. Both Tesla and Silicon Valley see the excitement as a way to change the world. But what New York and Silicon Valley elites never try to focus on is that what happens in the “miracle making” and day and night lit Tesla Shanghai factory is far from the vision of “changing the world.”.
|Heavy trucks rush out of Tesla’s Shanghai Super factory on a stormy night
Missing unqualified parts
“In order to complete the production, Tesla is reducing its quality standards by all means,” several Tesla insiders in China told pinplay.
An employee who works in warehouse and logistics finds that unqualified parts will disappear for no reason.
The reason for the disappearance of these unqualified parts is in sharp contrast to the “high-tech image” Tesla has always created: Generally speaking, manufacturing companies will use SAP system to manage the transportation and circulation of factory products. Tesla once used it for a short time, but because it was “too expensive and had to pay a lot of money every year”, it was later stopped.
After shutting down SAP’s system, Tesla’s own it department “copied” a similar software system, “which is not intelligent at all,” people familiar with the matter told pinplay.
This leads to the automatic acceptance, transportation and assembly of parts that can be completed by the system, but it requires a lot of manual jacking. One consequence of this is that the accuracy of warehouse inventory is a mess.
Because of the inaccuracy of the system, workers can’t judge whether the parts are qualified or not. In the final inventory, I wanted to trace where the broken parts went, only to find that they could not be found.
The above insiders speculate that these bad parts may have been installed on the vehicle.
Not only did the assembly get out of control, but Tesla’s parts even went wrong at the root.
There is a cost to pursuing speed. The huge production pressure makes it difficult for suppliers to bear. “There’s no supply at all. It’s hard.” A Tesla supplier said. When the demand for output reaches the critical point, the price will be the sacrifice of quality. “The solution is very simple and crude, that is, to put the defective parts directly online.”.
This statement has been recognized by several suppliers, who even said that it is an “open secret” in the industry.
Tesla’s internal quality staff are also feeling the change. Some employees told pinplay that in Tesla’s open office area, they often hear people’s comments: with the decline of parts quality, there are many problems with the cars made by Shanghai factory, and the quality standard scores are also declining correspondingly. If the cars are released according to the original standards, no cars will pass the quality inspection. But their solution is not to improve quality. It is to lower the factory standard after vehicle inspection.
“For example, in the past, 80 points was enough to leave the factory, but now 60 points is enough,” Tesla insiders told pinplay.
Some Tesla engineers lamented that although the appearance of the car seems to be Tesla, the process accuracy is not a bit poor in quality control. “This (Shanghai factory) car is completely another car, which is fundamentally a defective product.”.
Security risks accumulate in these links, and Tesla China’s management team makes the problem worse.
Previously, some model s had problems with protruding front ball head bolts. This is a high-end model of Tesla, with a price of RMB 700000-1.2 million. In extreme cases, this will cause the conical seat of the ball head to come out of the steering knuckle, affect the handling of the vehicle, and increase the risk of accidents.
However, at a weekly meeting after the problem, Xue Juncheng, the after sales service director of Tesla Greater China, said this:
“We can’t recall it. When we find that the owner’s car has a problem, we can replace it secretly,” he said at the meeting. “For example, when the car comes for maintenance or the owner asks for a replacement, we can replace it.”.
Layer upon layer, in the face of car owners, this quality problem has become a “free upgrade” in Tesla’s official after-sales discourse.
At a later meeting, Xue Juncheng also quoted an internal statistical data, saying that more than 100 model s had the same problem. Industry insiders explained that, affected by the frequency of use, the problem of front ball head bolts does include probability factors, but more than 100 vehicles are not a small number.
An old Tesla employee who attended the meeting told pinplay: the same problem was found and raised as early as 2017, but there has been no public solution for the same purpose of delaying the recall and avoiding excessive costs. It can be seen that the quality problems of Tesla’s production in China are deeply influenced by the consistent attitude of its headquarters.
In fact, Tesla has only conducted three vehicle recalls in the Chinese market, all involving only imported models. The cars produced by the Shanghai factory have never been affected. Among them, on October 23, 2020, nearly 30000 imported model s and model X were recalled due to the failure of front suspension connecting rod, which is the largest recall in China.
However, just after the recall, CNBC reported that Tesla, in the face of inquiries from the US National Highway Traffic Safety Administration (NHTSA), said that they did not agree with the findings of the State Administration of market supervision and administration of China on the production quality of Tesla cars. Instead, they believed that the problem of vehicles was caused by “abuse by Chinese car owners” and poured “dirty water” back to Chinese users.
However, it is somewhat ironic that the official voice of Tesla has not been lost. In November 2020, NHTSA said that it would formally investigate the defects of front suspension of 110000 Tesla cars.
At the same time, accidents caused by Tesla’s quality problems emerge in endlessly, which are also frequently reported by the global media: the central control screen goes black without warning in the process of driving, the vehicle is out of control in driving, the roof leakage causes the cab to leak rain and the horn to rust, and several accidents have caused casualties.
But these quality defects and safety risks can not stop Tesla’s yearning for production capacity and output. As a matter of fact, a very important consideration for Shanghai to introduce Tesla super factory to settle down in the first place is to value the overall driving force of Tesla factory to the upstream supply chain of manufacturing industry around Shanghai and its driving force to the development of made in China to a higher quality. However, Tesla doesn’t seem to be very interested in “made in China with higher quality” and has little effort.

Tesla will produce charging pile in China

Reuters: Tesla will produce charging pile in China
It is reported that Tesla plans to expand its charging network in 2021 and produce electric vehicle charging piles in China.
Tesla currently sells model 3 electric vehicles in China and plans to deliver SUV model y by 2021. The company plans to invest 42 million yuan to build a plant near the Shanghai auto plant to produce the charging pile.
It is expected that the plant will be completed in February next year, and the annual output of 10000 charging piles can be achieved.

Tesla will produce charging pile in China
Financial Times Wall Street Journal Reuters: the test method is controversial
Previously, AstraZeneca announced that its vaccine efficiency was 90%. But in fact, the clinical study of AstraZeneca is divided into two parts, and the overall effective rate is only 70%.
The effective rate of the first part is only 62%, while that of the second part is only 90% after a month.
As a result, AstraZeneca’s share price fell 6%. Shares of AstraZeneca’s rivals Pfizer and biontech rose 6% and 14% respectively after announcing efficiency. Moderna’s share price is up 11%.
AstraZeneca explained that the use of different doses of vaccine in two parts of the study was mainly due to improved production methods.
However, it was revealed that in the second part of the study, the subjects of AstraZeneca were all under the age of 55, and their risk of infection with the new crown was lower.
Financial Times (Reuters) – Wall Street Journal: salesforce talks to buy slack
Salesforce, the world’s largest CRM company, is negotiating to acquire slack, a cloud office writing software.
Slack’s app installed 12.6 million times this year, up 50% from the same period last year. Slack is in urgent need of spending money to take advantage of the current opportunity to launch a war with Microsoft’s teams and other competitors.
Microsoft’s office collaboration software teams come with a number of commonly used office software, which is more attractive to users, and also makes slack realize the importance of “fighting group war” in the office market. Salesforce needs to generate new revenue beyond CRM.
On the news, slack shares rose 24% to $36.58, while salesforce fell 2.7%.
The Wall Street Journal: Thanksgiving: the migration of millions of people in the United States
Although the number of people who travel by air during Thanksgiving this year is only half that of the same period in 2019. But most airports and airlines in the United States still have their busiest time since the outbreak.
Between November 20 and 23 alone, 3.97 million people traveled by air in the United States.
At the same time, the number of hospital inpatients in the United States has risen to an all-time high, and the death toll in the new crown has exceeded 250000.
Nikkei Asia review: Evergrande’s share price falls after being censored
Recently, China’s development and Reform Commission has issued a document to review the electric vehicle industry in order to rectify the disorderly items of new energy vehicle manufacturing projects.
The review includes the new pure electric vehicle projects approved or filed since 2015, the production and operation of new energy vehicle investment projects of existing automobile enterprises and the filing of new energy vehicle projects under construction from 2019 to 2020, as well as the planning and investment promotion of pure electric vehicle projects.
The document calls for investigation and detailed report on investment in new energy vehicles of Hengda, Baoneng and other enterprises.
As soon as the news came out, the shares of Evergrande new energy automobile group fell sharply, falling as much as 11% in Hong Kong and closing down 5.2% to HK $22.80.
Wall Street Journal: Jingdong health goes to Hong Kong, Hong Kong IPO market continues to be hot
On Wednesday, JD Health launched a more than $3 billion IPO in Hong Kong, which will issue 382 million shares at a price between $8.10 and $9.10 per share, and the company’s valuation will be as high as $28.5 billion.
If the underwriting bank exercises the right to subscribe 15% more, JD will raise $4 billion in capital. It is likely to be the biggest IPO in Hong Kong this year due to the delay in the listing of ant group.
Six investors, including BlackRock capital, tiger Global Fund and Hillard capital, will subscribe for up to $1.35 billion in shares.
Although Hong Kong has experienced turbulence in recent years and the overall international IPO demand is not high, Hong Kong has ushered in the peak of IPO and secondary listing in the past decade. This year alone, there have been dozens of IPOs in mainland China that have chosen Hong Kong.
WSJ: EU data will be shared
On Wednesday, the European Union put forward a new proposal to establish a data market covering the whole EU under the premise of protecting European data, so as to promote the sharing of industrial and government information.
The EU has long exercised strict control over data, and the bill is the EU’s first attempt to share industrial and government data.
The new proposal will require companies to process data to ensure data security before exporting them overseas. EU officials said companies and public authorities would share more data if they could ensure protection.
In addition, Wednesday’s proposal also said it would establish a system to authenticate new data brokers to act as an intermediary between data providers, would not allow operators to make profits by helping to share data, and would be regulated by the European Union.

EU data will be shared

Apple’s stock price plummeted!

Tesla and China concept stocks skyrocketed during intraday trading, leading energy auto stocks

On the company side, the U.S. awarded transportation contracts to Uber and Lyft, causing the share prices of these two companies to rise intraday. Due to the strong optimism of brokerage firms, electric vehicles and China concept stocks ushered in a surge. Tesla shares rose more than 7% in intraday trading, setting a record high. The closing price was $521.49 per share. Happy Cars rose 50%, and Ideal Cars rose 14.3%. Xiaopeng Motors rose more than 30%, hitting a maximum of 70.17 US dollars, and its intraday market value exceeded 51.5 billion US dollars.

U.S. stocks opened higher on Monday and the Dow is expected to reach new highs

On Monday, November 23, the global capital market performed brilliantly on the first trading day of the week. The newly announced initial value of the Markit Manufacturing PMI in the United States in November rose to 56.7, a record high in six years. The Dow opened nearly 200 points higher. It is reported that Biden will nominate former Federal Reserve Chairman Yellen as the next Secretary of the Treasury of the United States. The Dow’s gains expanded more than 400 points after the news was announced, and Boeing’s gains exceeded 7%. The decline in US anti-epidemic technology stocks is the main reason that dragged down the Nasdaq’s intraday gains. Among the constituent stocks, Apple shares fell more than 2.3%, and the company’s chief security officer Thomas was accused of bribery. Apple’s stock price fluctuated around $113.80. The closing price fell 2.97%. Amazon fell at least 1.8% intraday, leading the market with Netflix.

Nevertheless, when the U.S. stock market closed, the Dow rose 327.79 points, or 1.12%, and this month is expected to be the best month since 1987. The S&P 500 and the Nasdaq gained 0.56% and 0.22% respectively.

Vaccine re-transmission is good, European stocks are cautious

In the early trading of European stocks, AstraZeneca announced that its vaccine candidate could prevent an average of 70% of coronavirus cases, boosting trading sentiment. Oil and gas stocks such as BP and Royal Dutch Shell led the market. The stocks of companies such as British Airways and Rolls-Royce also performed well. In addition, the November manufacturing PMI of Germany and the Eurozone was higher than expected. However, the November comprehensive PMI of France and the United Kingdom both reached new lows, and investors’ trading sentiment was very cautious. At the close, the three major European stock indexes closed slightly lower.

Britain and Canada sign agreement, economic and trade circle expansion pushes pound up

This past weekend, the UK and Canada signed a trade agreement, which included the exemption of tariffs on 98% of Canadian products exported to the UK. The UK’s economic and trade circle of friends expanded again after Japan, pushing up the exchange rate of the pound sterling to over 1.33 against the dollar.

Risk aversion cools down, international gold prices plummet, international oil prices rebound

In the metal market, positive economic news and significant progress in vaccine research and development have weakened investors’ demand for safe-haven gold. The price of gold plunged US$20 in the short term, and COMEX December gold futures closed down 1.85% to US$1837.80 per ounce.

International oil prices rebounded due to economic demand. WTI crude oil futures for January delivery in New York closed at $43.06 per barrel, an increase of 1.51%. International Brent oil prices rose 2.45% to US$46.06 per barrel.

In addition, due to the strengthening of the US dollar, copper prices fell on Monday from the 29-month high reached last Friday, but strategists believe that copper prices may still rise.