Connect with us

Published

on

Tesla’s stock (TSLA) surged 12% today, one of its best days in a long time, as Elon Musk tries to position Tesla to ride the artificial intelligence wave.

In a rare occurrence, Tesla had a pretty bad miss on expectations for both revenue and earnings with its financial results in Q1 2024.

Despite the miss, Tesla’s stock surged 12% today. That’s quite the anomaly. So, what gave investors more confidence in Tesla?

There were a few important positive points in Tesla’s results.

First off, Tesla’s automotive gross margins virtually stayed the same despite further price costs, the Cybertruck ramp, and the Model 3 Highland ramp in Fremont. The company confirmed that if you remove those, margins did improve in Q1.

There’s also Tesla’s announcement that it changed its plans about how to bring cheaper vehicles to market. As we previously reported, Tesla postponed NV9, a new “$25,000 Tesla” based on the automaker’s new “unboxed” manufacturing technology.

Many investors and analysts were concerned about this, as a large percentage of Trsla’s expected growth over the second half of the decade was based on this model.

Now, Tesla has confirmed that its change in strategy still involves cheaper model, albeit likely not a $25,000 one, but they will be built on existing manufacturing lines. This was a big positive for investors – although the plan is currently light on details.

The third factor that is likely greatly contributing to Tesla’s stock having one of its best days in a while is the AI wave.

As we previously reported, Musk is virtually putting Tesla all-in on Robotaxi. The CEO again reiterated that if you don’t believe that Tesla can solve autonomy, you shouldn’t own the stock.

Musk is trying to position Tesla to ride the AI wave that is currently taking over the tech industry.

An interesting new thing that the company did with these earnings is that it released its AI training compute capacity:

This is truly impressive and still growing. As we previously reported, Tesla is currently building a massive 100 MW data center with NVIDIA hardware at Gigafactory Texas, which the company is hoping to bring online this August.

Tesla plans to use this AI training capacity to train its Full Self-Driving system with the millions of miles being driven with the “supervised” version of the system:

The data is also accelerating on that front with the release of v12 and the FSD one-month free trial.

While many people remain skeptical, it does appear that Tesla is gaining credibility regarding AI and its self-driving effort, which is contributing to the stock surge.

Electrek’s Take

If you have been following my pieces, you know that I haven’t been the biggest fan of FSD, but I’ve been impressed with v12 so far.

Things could get interesting fast.

Tesla now has the AI training capacity to compete with the biggest AI players and it is growing fast. The automaker is taking a similar approach as it did with battery cells: buying everything you can get your hands on from suppliers and building your own.

For batteries, that means buying from Panasonic, LG, CATL, etc, and building 4680 cells itself.

For AI training compute, it means buying servers from NVIDIA and building Dojo.

It worked for batteries and it could work for AI training also. I think Tesla deserves a meaningful credibility bump in the self-driving space with v12.

Honestly, if I see decent improvements over the next few updates, I might become a true believer. I had FSD Beta on my car for the better part of 2 years and saw very few improvements. v12 alone felt like a 20-30% overall improvement and I’m now way more confident when using FSD.

With that said, it’s important to remain extremely vigilant when using FSD. You need to be ready to take control at all times.

And at the risk of repeating myself for a thousand time, Tesla should release FSD disengagement data.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Toyota funded climate deniers and Fred says Elon fudged the FSD numbers

Published

on

By

Toyota funded climate deniers and Fred says Elon fudged the FSD numbers

On today’s episode of Quick Charge, we look into a new study revealing that Toyota outspends all other automakers when it comes to funding climate change denying politicians and Fred accuses Elon of misrepresenting the data behind Full Self Driving (again).

We’ve also got word that the recently redesigned Tesla Model Y is being built in Giga Berlin, Hyundai’s electrified lineup is leading a record export year for the brand, and a new study says cleantech investments will beat out conventional energy production for the first time in 2025.

Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple PodcastsSpotifyTuneIn, and our RSS feed for Overcast and other podcast players.

New episodes of Quick Charge are recorded, usually, Monday through Thursday (and sometimes Sunday). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news!

Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Amazon places its largest-ever order for electric semi trucks

Published

on

By

Amazon places its largest-ever order for electric semi trucks

Amazon is adding over 200 Mercedes-Benz eActros 600 electric semi trucks to its fleet later this year – its largest-ever order of electric heavy goods vehicles (eHGVs).

Amazon’s new electric semi trucks

These electric trucks will handle high-mileage routes across the UK and Germany, moving trailers between Amazon’s fulfillment centers, sorting centers, and delivery stations. 

The new eHGVs are expected to transport more than 350 million packages annually once fully operational.

Amazon is installing 360kW charging stations at key sites capable of powering the 40-tonne trucks from 20-80% in just over an hour. The company is also working with stakeholders to establish external charging locations to support longer routes.

The eActros 600 is Mercedes-Benz Trucks’ flagship electric long-hauler, with a battery capacity of more than 600 kWh and a range of 310 miles (500 km). Production of the eActros 600s recently began at Mercedes-Benz’s factory in Wörth, Germany.

Sustainable delivery across Europe

In the UK, Amazon has begun using the electric rail network for package transport at scale. It’s also rolling out on-foot delivery options in London, with associates using carts that can be restocked from nearby vans. In Germany, Amazon doubled its fleet of Rivian electric delivery vans to over 600, and electric cargo bikes delivered more than 1.5 million packages in Berlin alone last year.

By the end of 2024, Amazon plans to expand its micromobility hubs – locations supporting deliveries by foot and cargo bike – to Germany’s five largest cities and beyond. Across Europe, the company is investing more than €1 billion to further electrify and decarbonize its transportation network.

Amazon’s European network already includes 38 eHGVs, with 50 electric semis recently deployed in California. The company’s fleet of electric delivery vans in Europe has grown to over 3,000 and is expected to surpass 10,000 by the end of 2025. Micromobility hubs have also expanded from 20 cities in 2022 to more than 45 by the end of 2024, including new additions in Belfast, Madrid, Rome, and Vienna.

Electrek’s Take

Amazon says its latest electric semi truck order aligns with The Climate Pledge it announced in 2019, in which the company committed to achieving net zero across its operations by 2040. While The Climate Pledge initiative has garnered praise, it has also faced criticism and skepticism regarding its effectiveness and transparency.

In 2020, Amazon faced allegations of retaliating against employees who spoke out about the company’s environmental policies. The National Labor Relations Board found that Amazon had illegally fired workers who advocated for climate action and better safety measures.

Amazon is also donating $1 million to President-elect Donald Trump’s inaugural fund. Trump is a climate change denier who actively opposes renewables, and not just in the US. Earlier this month Trump demanded that the British government open up the North Sea to fossil fuel drilling and get rid of “windmills.”

Read more: It begins: Mercedes eActros 600 electric semi truck enters production


To limit power outages and make your home more resilient, consider going solar with a battery storage system. In order to find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. They have hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisers to help you every step of the way. Get started here. –trusted affiliate link*

FTC: We use income earning auto affiliate links. More.

Continue Reading

Environment

Check out the new Genesis GV60 interior, it looks even more luxurious in blue [Video]

Published

on

By

Check out the new Genesis GV60 interior, it looks even more luxurious in blue [Video]

If you thought the current GV60 looked pretty inside, wait until you see the updated model. Genesis unveiled the new GV60 earlier this month, its first major redesign since launching in 2021. Here’s our first look at the interior of the new Genesis GV60.

Genesis GV60 interior gets an upgrade in the new model

Genesis launched the GV60 in October 2021 as its first dedicated EV. Less than four years later, the luxury electric SUV is already getting a new look.

The luxury brand unveiled the new GV60 last week for the first time. One of the biggest updates is to the front end.

Although the GV60 is already a sporty-looking EV, the redesigned front bumper with a new 3-D shape takes it up another level. Then, add the signature Genesis Two Line headlamps with Micro Lens Array (MLA) tech, and the refreshed GV60 is a head turner.

The revamped model now features 21″ wheels with a new five-spoke design, complementing its wide, low stance.

Inside, the upgraded GV60 features its new 27″ connected car Integrated Cockpit (ccIC) infotainment system. The design “eliminates the bezel” between the driver display and infotainment screens.

New-Genesis-GV60-EV
The updated Genesis GV60 (Source: Genesis)

The new Genesis GV60 interior also gains a redesigned three-spoke steering wheel for an even more sporty feel while you’re in the cockpit. Other popular features from the outgoing model, like the Crystal Sphere shift-by-wire system, are still included.

After revealing the updated model for the first time last week, we are already getting a look at the redesigned interior.

The updated interior of the Genesis GV60 in blue (Source: HealerTV)

A new video from Korea’s HealerTV gives us our first look at the Genesis GV60 interior in a new blue color. Although the reporter initially thought it was a performance model, he noted it was just a new color option. Other added design elements, like the large quilting pattern on the side panels, give it that Bentley or Rolls-Royce feel.

Last week, HealerTV posted a video revealing the first look at the updated Genesis GV60 exterior design. You can see the redesigned front and rear bumpers add to the GV60’s already impressive look.

Genesis GV60 update first look (Source: HealerTV)

In the US, the 2025 Genesis GV60 starts at $52,350. A new AWD trim was introduced this year, starting at $55,850.

The current mode gets up to 294 miles driving range, but a bigger battery is expected to push that number closer to 300 miles in the 2025MY. It’s expected to feature the same 84 kWh battery as the updated 2025 IONIQ 5, which provides up to 318 miles range. That’s up from 303 miles in the previous model with a 77.4 kWh battery.

2025 Genesis GV60 trim Range
(EPA-est)
Starting Price*
Standard RWD 294 miles $52,350
Standard AWD 264 miles $55,850
Advanced AWD 248 miles $60,900
Performance AWD 235 miles $69,900
2025 Genesis GV60 prices and range by trim (*excluding $1,350 destination fee)

Genesis will launch the updated GV60 in Korea in the first quarter of the year, with overseas markets following shortly after. Check back for more info, including prices and specs, closer to launch.

What do you think about the new GV60 design? Do you like the changes? What would you change? Let us know in the comments below.

Ready to check out the electric luxury SUV for yourself? With the 2025 models here, Genesis is offering clearance prices on the 2024 lineup while they are still in stock. You can use our link to find offers on 2024 and 2025 Genesis GV60 models at a dealer near you today.

FTC: We use income earning auto affiliate links. More.

Continue Reading

Trending