RealTesla

naLP67 at Blind creating a rumor that 25% new layoffs are incoming. This here is a "Threads" where people are discussing the rumor.

Given the 20% initial layoff round and this 25% additional round, we're looking at a ~40% cut to all of Tesla compared to just a few weeks ago.

This is a week-old article now, but its huge proof of the growing Tesla inventory problem. Tesla simply isn't selling all their vehicles anymore, and thus large scale storage sites like this Chesterfield Mall are seeing a huge number of Tesla vehicles pile up in storage.

Thanks to OddAbbreviations5749 from Reddit (https://old.reddit.com/r/RealTesla/comments/1cn9geh/teslas_10q_from_q32023_warned_this_investigation/)

You can find this 10Q here: https://www.sec.gov/Archives/edgar/data/1318605/000162828023034847/tsla-20230930.htm

Scroll down to page 24, "Certain Investigations and Other Matters".

The relevant "Ctrl+F" is:

Separately, the Company has received requests for information, including subpoenas, from the DOJ. These have included requests for documents related to Tesla’s Autopilot and FSD features. Additionally, the Company has received requests for information, including subpoenas from the DOJ, regarding certain matters associated with personal benefits, related parties, vehicle range and personnel decisions. To our knowledge no government agency in any ongoing investigation has concluded that any wrongdoing occurred. We cannot predict the outcome or impact of any ongoing matters. Should the government decide to pursue an enforcement action, there exists the possibility of a material adverse impact on our business, results of operation, prospects, cash flows, financial position or brand.

Hertz auctions aren't quite the used market entirely, but its somewhat of an indicator of where Tesla vehicles are in the used market.

Hertz seems to be having trouble selling Teslas.

1637 is the worst month in Germany on the chart in the article. Furthermore, January-April 2024 all together is well over -35% compared to January-April 2023.

This is a significant drop in Tesla sales in Germany. I'm not sure if this is representative of the rest of the world, but its definitely a worrying sign.

Seems like the layoffs haven't ended yet as more-and-more former Tesla workers are saying that they've been laid off.

A lot of senior-level layoffs.

Today, Rebecca Tinucci and her entire team responsible for EV Charging has been laid off from Tesla.

This suggests that Tesla is getting cut down to the bone. Even EV Charging is getting laid off in large numbers.

Tesla's deal with Baidu isn't new, the mapping data Tesla will collect likely can't leave China, and Full Self-Driving can't compete with more advanced Chinese alternatives

If you're having trouble viewing this article, try the archive.org link: https://web.archive.org/web/20240429200356/https://www.wired.com/story/elon-musk-cant-solve-teslas-china-crisis-with-his-desperate-asia-visit/

Next-generation battery technology, in the form of either Sodium-Ion batteries, or Solid-State Batteries, are beginning to come into mass production.

For example: there's also this Solid State Battery company winning Army contracts (https://www.businesswire.com/news/home/20220427005243/en/Army-Extreme-Battery-Group-Increases-Ion-Storage-Contract).

So we're actually on the cusp of a dramatic improvement to battery technology. I do think that companies like Tesla could be left in the dust, especially if Tesla continues to invest into (last generation) 4680 Li-ion cells.

I don't know which "next generation battery tech" will win. But there's so many advancements over the past year that I can confidently say that "something" will displace Li-Ion (even LFP). I just don't know if its Sodium or Solid State yet (or some other battery chemistry). But both Sodium and Solid State tech have improved to the point of seemingly mass production.

In total, NHTSA investigated 956 crashes, starting in January 2018 and extending all the way until August 2023. Of those crashes, some of which involved other vehicles striking the Tesla vehicle, 29 people died. There were also 211 crashes in which “the frontal plane of the Tesla struck a vehicle or obstacle in its path.” These crashes, which were often the most severe, resulted in 14 deaths and 49 injuries.

Article's introduction is everything you need to know.

(Reuters) - Former Tesla executive Drew Baglino has sold shares worth around $181.5 million in the world's top EV maker, according to a SEC filing on Thursday.

Baglino, a Tesla veteran who began his career as an engineer in 2006 and was one of four members, along with Elon Musk, on the company's leadership team.

He resigned as senior vice president of powertrain and energy engineering from the company last week. The departure came amid the EV maker's plan to lay off more than 10% of its global workforce, to help prepare for the "next phase of growth" by reducing costs and improving productivity.

Baglino sold about 1.1 million of his shares as a stock option exercise and listed "an approximate date of sale" as April 25, the SEC filing showed.

A nifty little @threads post by esg.hound.

Probably a good time to point out that Tesla's total revenues since inception are $338 billion. Total Gross Profits are 73 billion and net income is 27 billion. Musk demanding a $53 billion payout would be the equivalent of

• 16% of total revenues since 2009
• 72% of gross profits since 2009
• 195% of net income (i.e. real economic profits) since 2009

It's lunacy and completely detached from reality

As Tesla car sales faltered, Musk delivered an optimistic pivot: Tesla isn't a car company.

This is a decent summary of the earnings call. The car sales were down and boring. Elon didn't like talking about those. Instead, the bulk of the earnings call was on Robotaxis, AI, and Optimus (bipedal robot).

Yes, a throwaway line on Model 2 was also mentioned, but its unclear what the specific plans for that are. Cybertruck and Tesla Semi were also discussed, but not Roadster.

Instead of spamming a bunch of topics on different parts and announcements of Q1 2024, lets try to centralize the discussion here. I'll edit this post with more info as it comes up.  

• Slide Deck: https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q1-2024-Update.pdf

• Live Stream of Earnings Call: https://livestream.tesla.com/ and https://www.youtube.com/watch?v=o81Rs-w3YMY

• Internet list of Q&A Questions : https://app.saytechnologies.com/tesla-2024-q1

• Some website is doing a live-ish transcript here. Never heard of shacknews.com but it "looks correct" at least. https://www.shacknews.com/article/139611/tesla-tsla-q1-2024-earnings-call-transcript

Articles coming out.

• https://techcrunch.com/2024/04/23/tesla-profits-drop-55-company-says-ev-sales-under-pressure-from-hybrids/

• https://apnews.com/article/tesla-future-sales-decline-robotaxi-artificial-intelligence-b60696cb69d7735983abcf51aee7f743

• https://www.cnn.com/2024/04/23/business/tesla-report-earnings-result/index.html

The Texas-based car company reported net income of $1.1 billion for the January-to-March period, down 55% from the year prior. Revenue fell 9% to $21.3 billion.

Expect more news tonight as more earnings + earnings call gets released. Its a busy night for anyone watching TSLA stock.