Musk and firm executives outlined a few of the steps they’re taking to create a low-cost platform, together with introducing a brand new in-house electrical motor, adopting new manufacturing methods and dealing with suppliers to carry down prices.
Global automakers have lengthy used Mexico as a launching pad for inexpensive automobiles on account of decrease labor prices, however the nation additionally now builds luxurious fashions from manufacturers comparable to Audi and BMW. Vehicles in-built Mexico and Canada qualify for the $7,500 U.S. tax credit score for EVs. Models constructed outdoors North America don’t.
Emmanuel Rosner, an analyst at Deutsche Bank, stated Tesla’s concentrate on price and effectivity throughout the occasion was admirable, however the lack of element on the next-generation platform was a letdown.
“Walking away from Tesla’s Investor Day, we were admittedly disappointed with the overall lack of details on its next-gen platform, including launch timing, vehicle segments and price points,” Rosner stated in a analysis be aware. “All in, we expect a negative market reaction to the event today.”
Tesla executives outlined manufacturing and engineering efficiencies that would lower manufacturing prices for the brand new automobile platform in half in comparison with the compact platform used for the Model 3 sedan and Model Y.
Adam Jonas, analyst at Morgan Stanley, stated Tesla’s concentrate on slashing prices and scaling up manufacturing was the most important takeaway from Investor Day.
“The non-unveil of Model 2 disappointed some people — but it shouldn’t have,” Jonas stated in a analysis be aware.
“From our experience, auto companies don’t typically unveil far cheaper and potential better engineered products far in advance” of manufacturing, Jonas added. Otherwise, shoppers would possibly wait slightly than purchase present Tesla fashions.
The lack of particulars on the brand new mannequin additionally means Musk is not pressured in a while when his timeline comes up brief. The Tesla Cybertruck, offered in 2019 and promised for 2021, will not begin manufacturing till later this 12 months. And guarantees of a totally autonomous Tesla are a few years delayed.
“Without major news to point to from the three-plus hours of presenting besides a Mexico factory project development announcement, Musk at least didn’t get many opportunities to offer new promises he can’t keep,” Caldwell stated. “Maybe that’s enough of a win.”
Source: www.autonews.com