Tesla CEO Elon Musk was asked about when the next-gen Roadster would be available during today’s earnings call, and his answer left much to be desired.
But today, he was asked again, simply, “what’s going on with the Tesla Roadster?” And instead of giving the same answer, he gave a softer one, suggesting that the vehicle may well be delayed again. Here it is in full:
Well I’d certainly like to thank our long suffering deposit holders of the Tesla Roadster. The reason it hasn’t come out yet is because the Roadster is not just the icing on the cake, its the cherry on the icing on the cake. Our larger mission is to accelerate the progress towards the sustainable energy future, to try to do things that maximize the probability that the future is good for humanity and for Earth. And so that necessarily means that the things that are kinda like dessert – we’d all love to work on the next-gen Tesla Roadster, it is super fun, and we are working on it – but it has to come behind the things that have a more serious impact on the good of the world. So just thank you to all our long suffering Tesla Roadster deposit holders, and we are finally making progress on that. We’re close to finalizing the design on that, it’s truly gonna be something spectacular. Y’know, a friend of mine, Peter Thiel – y’know and sometimes people think that Peter Thiel and I are rivals, we’re really good friends – but you know Peter was lamenting on how the future doesn’t have flying cars. Well, we’ll see.
So, to break this down: last time, Musk said the Roadster is coming out in 2025. This time, he did not say that, despite that it would have been an easy enough reiteration to make given that he said it three months ago.
Last time, Musk stated that “we’ve completed most of the engineering,” and that Tesla was still planning some upgrades, but would go into production “next year,” that is, in 2025 (as one of the 6 big products Tesla says are coming “next year”).
But here, three months later – and getting close to the point where “next year” becomes “this year” – Musk could only say that Tesla is “close to finalizing the design.”
But then, we’ve heard almost exactly this language before, many years ago. Here’s an example from 2021:
In addition to this language we’ve heard before, Musk included a lot of hemming and hawing about the reasons behind the lack of progress on this Roadster, which some reservation holders deposited $50,000 or even $250,000 for, seven years ago now. That’s quite a long zero-interest loan they’ve given the company.
While it makes sense that the company would have other priorities than to release a supercar, the company certainly has plenty of resources available compared to the five vehicles it currently sells – and, perhaps, if it thought there were other priorities, it shouldn’t have taken $250,000 deposits 8(+?) years before release.
Elsewhere in Tesla’s earnings letter, the Roadster was listed as “TBD” and “In development” on a chart of Tesla’s current and upcoming models, much as it has been in the past.
So, no change here, despite the previous announcement of 2025 production.
Finally, Musk suggested again today that the upcoming next-gen Roadster would be able to fly, something he’s mentioned multiple times before. This would presumably take advantage of the teased “SpaceX package” with rocket thrusters which are intended to improve the car’s performance.
Given that many of today’s EVs are tire-limited in terms of acceleration (and basically all vehicles are tire-limited for handling), thrusters could theoretically be arranged around a car to add force in whatever direction is most advantageous to performance – either laterally for cornering or facing upwards to provide downforce and improve grip (which then helps cornering).
However, it should be noted that one of the primary ways to improve vehicle performance is downforce, not upforce (the latter is not even a term anyone has ever used, because it’s so harmful towards performance).
Downforce increases the apparent weight of a car without increasing its mass, which means that you gain the benefits of increased tire grip without also gaining more inertia which makes it harder for cars to accelerate, decelerate and turn. This was used to great effect in the record-breaking McMurtry Spierling “fan car” (watch the video in that link – it looks like playing a videogame with cheat codes on).
Putting thrusters on a car which enable to go upwards is at best a party trick, and at worst a waste of additional mass which could be removed to improve vehicle performance or comfort instead.
So perhaps I can clear up some of those engineering delays for Mr. Musk: stop trying to make the car fly. It’s dumb. This is not how basic, high-school level physics works.
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However, Tesla has since removed Nissan from its list of automakers with access and switched the Japanese automaker back to the “coming soon” list.
Nissan confirmed to Electrek that access is not currently available, but it will be available by the end of the year.
It sounds like a miscommunication on Tesla’s side. We hear that it should be coming soon.
Elon Musk fired Tesla’s entire charging team – seemingly to make an example of its then-head of charging, Rebecca Tinucci, who reportedly disagreed with Musk about making further layoffs following another layoff wave.
Instead of just firing her, Musk decided to fire the entire team and then sent an email to other Tesla managers using the charging team situation as a warning.
Tesla has since had to rehire several former members of its charging team to rebuild the department.
This is believed to have slowed down the opening of the Supercharger network to other automakers in North America. We were told that communications with Tesla’s charging team were difficult to non-existent for those automakers for weeks earlier this year.
Europe’s “green dream” Northvolt has filed for bankruptcy protection in the US after a rescue package failed to go through, leaving the battery maker with just one week’s worth of cash in the account. Cofounder and CEO Peter Carlsson, who spearheaded a costly expansion, has also quit.
The Swedish-owned battery maker filed for Chapter 11 in the Southern District of Texas, reports Bloomberg, with $5.8 billion debt. CEO Peter Carlsson, Telsa’s former chief products officer, stepped down from his role as CEO after the filing, but will remain onboard as advisor and director.
According to a statement, Northvolt said that its main factory will maintain business as usual during the reorganization, as the company now has a buffer from creditors, giving it time to restructure the balance sheet. However, the company said that this will not impact its business in Germany, and through the court process, Northvolt now has access to about $145 million in cash collateral. An additional $100 million in debtor-in-possession financing will be added to the pot via one of its customers, the report said.
The company still has a $7 billion project in place in Quebec – a new campus that is set to include a cell production plant, battery recycling, and cathode active-material production facilities – and the bankruptcy won’t affect those plans, the company said on its website. “Northvolt Germany and Northvolt North America, subsidiaries of Northvolt AB with projects in Germany and Canada, are financed separately and will continue to operate as usual outside of the Chapter 11 process as key parts of Northvolt’s strategic positioning.”
The plant is expected to have capacity to produce 30 GWh of battery cell every year, with an expansion set to double that output, making it enough to power 1 million EVs. The Canadian government is putting $1.334 billion CND toward the project, with Quebec chipping in another $1.37 billion CND.
Northvolt has hit hard times in recent months, once thought of as Europe’s best shot to homegrown EVs and the makers of “the world’s greenest battery.” Enthusiasm mounted as the company opened the doors to its first plant in Sweden, in the small town of Skelleftea near the Arctic Circle, in 2021. Billions of dollars have been invested into the company, and Volvo, VW, and BMW rushed to place future orders.
All of this enthusiasm has been fueled by a vision to cut dependency on China by creating greener EV batteries using 100 percent recycled nickel, manganese, and cobalt. Plans were put in place to build factories in Gothenburg, in southern Sweden, and Poland, Germany, and Canada, all backed by huge government subsidies. Back in January, the company raised an additional $5 billion, firmly locking in its position as one of Europe’s best-funded startups and recipient of the largest-ever green loan in the EU.
But then things started going south, with Northvolt’s production problems and massive delays forcing BMW to cancel its €2 billion battery cell order with the company. This past May, Northvolt also announced that it pushing back its plans for an IPO until next year. The interim report that followed revealed the dire state of its finances and how far its production had fallen short of goals, with Carlsson admitting he had been “too aggressive” with the company’s expansion plan.
Since Northvolt has put in place a series of changes to reset the company’s course, including bringing onboard a new CFO, leaving the former CFO to focus solely on expansion plans. Plus the company started making cuts, including closing down its research center, Cuberg, in San Francisco and deprioritizing secondary businesses. At the end of September, Northvolt announced that it would cut 1,600 staff from three Swedish sites and about 20 percent of its international workforce.
Last month, Volvo started proceedings to take over their joint venture with Northvolt, while Volkswagen Group’s representative to Northvolt’s board stepped down this month. Sweden, for its part, is ruling out taking a stake to save its homegrown enterprise, Bloomberg reports. Carlsson had said last month that the company needs more than $900 million to permanently shore up its finances.
Photo credit: Northvolt
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Leading yard operation 3PL YMX Logistics has announced plans to deploy fully twenty (20) of Orange EV’s fully electric Class 8 terminal trucks at a number of distribution and manufacturing sites across North America.
As the shipping and logistics industries increasingly move to embrace electrification, yard operations have proven to be an almost ideal use case for EVs, enabling companies like Orange EV, which specialize in yard hostlers or terminal tractors, to drive real, impactful change. To that end, companies like YMX are partnering with Orange EV.
“This relationship between YMX and Orange EV is a significant step forward in transforming yard operations across North America,” said Matt Yearling, CEO of YMX Logistics. “Besides the initial benefits of reduction in emissions and carbon footprint, our customers are also seeing improvements in the overall operational efficiency and seeking to expand. Our team members have also been sharing positive feedback about their new equipment and highlighting the positive impact on their health and day-to-day activities.”
This Orange looks good in blue
One of the most interesting aspects of this story – beyond the Orange EV HUSK-e XP’s almost unbelievable 180,000 lb. GCWR spec. – is that this isn’t a story about California’s ports, which mandate EVs. Instead, YMX is truly deploying these trucks throughout the country, with at least four currently in Chicago (and more on the way).
“Our collaboration with YMX Logistics represents a powerful stride in delivering sustainable yard solutions at scale for enterprise customers,” explains Wayne Mathisen, CEO of Orange EV. “With rising demand for electric yard trucks, our joint efforts ensure that more companies can access the environmental, financial, and operational benefits of electrification … this is a win for the planet, the workforce, and the bottom line of these organizations.”
We interviewed Orange EV founder Kurt Neutgens on The Heavy Equipment Podcast a few months back, but if you’re not familiar with these purpose-built trucks, it’s worth a listen.