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Tesla Electric customers in Texas have reported earnings of as much as $150 a day by selling electricity back to the grid, taking advantage of the recent heatwaves. The program, which operates as a virtual power plant (VPP), now harnesses over 6 MW of power. Tesla Electric, launched late last year, automatically buys and sells electricity for Tesla Powerwall owners, providing a buffer against peak prices. This move is effectively transitioning Tesla into an energy retailer.

The service is currently limited to Powerwall owners in Texas but the company plans to expand its reach. It is being tested through the Aggregate Distributed Energy Resource (ADER) Pilot Project and has demonstrated substantial success during the summer heatwaves. Even though 6 MW of power capacity doesn't sound significant, it can potentially prevent brownouts in the Texas electricity market.

The Tesla Electric interface provides real-time data on earnings from the system to homeowners, thereby giving them the feel of running their own micro-electric utility. The prerequisite for this service is owning some solar power and Tesla Powerwalls.

This article is paywalled, but here is a detailed summary:

In addition to the highly-anticipated Cybertruck, Tesla appears to be planning the release of two additional vehicles, as per an official company slide presented during their Investor Day in March. This information comes at an opportune time, with Tesla’s global deliveries seeing a record-breaking 83% surge in Q2 of this year, totalling over 466,000 vehicles.

The slide teased two under-wraps vehicles accompanied by large numerical figures: 300M for a boxy-looking model and 700M for a Model 3-resembling vehicle. The speculation around these mysterious vehicles has led many to theorize the potential identities of these two models.

The boxy vehicle is speculated to be a Tesla van, an idea that has circulated since 2016 when Elon Musk suggested in a Twitter post that it would make sense to build a van off the pickup truck chassis.

As for the vehicle associated with the 700M figure, analysts and Tesla enthusiasts on Reddit believe this to be the "Model 2." The term "Model 2" is commonly used to refer to a future $25,000 vehicle that Musk hinted at in September 2020.

During Tesla's 2023 Annual Shareholder Meeting in May, Musk discussed these two upcoming vehicles. He stated that both their designs and manufacturing techniques were superior to anything currently in the industry. Musk predicted that these two new models could potentially contribute to a production output of over five million units annually. For context, Tesla delivered 1.247 million Model 3/Y in 2022.

Further into the meeting, Musk touched upon cost reductions in material and components. This includes the development of a next-generation, low-cost drive unit (which avoids the use of rare earth materials) and lower battery cell costs.

Additionally, there are rumors about a refresh of the Model 3, tentatively named 'Highland.' Reports from China’s 36kr suggest that this rear-wheel-drive Model 3 may receive a battery upgrade, utilizing CATL’s new M3P lithium iron phosphate (LFP) cells. Musk has previously advocated for LFP battery technology, stating that it will form the backbone of electrification efforts.

The refresh is also expected to incorporate several other upgrades. However, details remain under wraps for the time being.

Given the increasing momentum in Tesla's deliveries and the excitement around these future vehicles, it's an exciting time for Tesla investors and EV enthusiasts.

Harvard Business School professor Ranjay Gulati praises Tesla's revolutionary management approach in his book "Deep Purpose". Unlike many companies who tack on a purpose as an afterthought, Tesla successfully integrates its mission, goals, and workplace into a unified vision.

Here are the key points:

Purpose Integration: Tesla's mission to promote the mass adoption of electric cars for a greener planet is at the core of its operations. By integrating its mission, goals, and workplace, Tesla transcends traditional management practices and creates a strong customer following, attracts top talent, and sparks exponential innovation.

Boldness and Courage: Tesla, under the leadership of CEO Elon Musk, has set audacious goals to challenge established auto-industry giants, develop new technologies, and grow into a global corporation in less than two decades. It's worth noting that in 2020, Tesla's success caused short sellers to collectively lose $38 billion.

Exponential Innovation Through Management: At Tesla, every team member is expected to act as an entrepreneur, with the freedom to allocate budget and solve problems collaboratively. Elon Musk himself sets an example by working 100-hour weeks and solving issues on the production floor.

Promise of AI in Workplace: Tesla uses AI to empower its staff to make intelligent decisions, leading to a flatter and more agile organization. Managers focus on refining information flows and AI algorithms rather than micromanaging.

Agile Management Transformation: Tesla uses AI and algorithms to form impromptu teams, fostering a highly adaptive and agile workforce.

Sense of Urgency: Musk encourages solution-oriented thinking, creating a culture that sees problems as opportunities for improvement.

Modularity Accelerates Innovation: Tesla's modular design approach enables rapid innovation, as individual parts or software modules can be replaced without disrupting the entire system.

Power of 'Less': Musk's obsession with radical simplification leads to faster cycle times and more efficient systems. The focus is always on the necessary, removing anything that doesn't contribute to the overall mission.

Central Role of Design: Tesla's commitment to exceptional design is as crucial to its success as its technological innovations. Their visually stunning vehicles, such as the upcoming CyberTruck with 1.5 million orders already, have created a passionate customer base.

In conclusion, Tesla's purpose-driven management, relentless pursuit of innovation, empowerment of employees, and focus on design make it a unique case study not only in the auto industry but in management practices as a whole. The question remains, will other companies be able to replicate Tesla's successful approach?

Tesla's strong resurgence in China underscores the company's adaptability and the robust demand for electric vehicles (EVs). Amidst easing supply chain concerns and the fading impact of COVID-19, Tesla's deliveries from its Shanghai plant, its first manufacturing hub outside the US, shot up by nearly 20% in June to 93,680 vehicles. This surge testifies to Tesla's growing success in the world's largest EV market, despite earlier disruptions caused by a price war.

Further reflecting this positive shift, China’s Passenger Car Association (PCA) is forecasting a 30% increase for new-energy vehicles in June, even as overall car sales are expected to decline. Tesla is playing a significant role in driving this growth, along with other Chinese EV manufacturers like BYD Co., Li Auto Inc., and Guangzhou Automobile Group Co.’s Aion, who are also seeing record sales numbers.

Deutsche Bank AG analyst, Edison Yu, suggests this impressive growth in June's EV sales is likely due to some normalization in consumer behavior and a release of pent-up demand following periods of low prices. An increased delivery forecast from the PCA also seems to echo this narrative.

Tesla's commitment to the Chinese market is seen through its continuous efforts to incentivize sales, offering initiatives such as cash subsidies and preferential low interest rates on car loans to customers who choose certain insurance coverages or quick delivery.

Furthermore, Chinese consumers' sentiment towards Tesla seems to be improving, as evidenced by the warm reception of Elon Musk during his visit in May. The company's willingness to expand its business in China, despite past hurdles and criticisms, aligns with China's goal to create a better business environment for multinational companies.

Tesla's Shanghai plant, which produced more than half of the company's global output in 2022, is slated to continue playing a crucial role in the automaker's growth. This resilience, coupled with the extension of consumer tax breaks for clean cars and a campaign to promote EV adoption in rural areas, suggests a promising future for Tesla in China. The company is readying itself to produce a revamped Model 3 sedan, underlining its continuous commitment to innovation and market competition.

Overall, Tesla's rising momentum in China reflects its strategic approach and the rapidly expanding appetite for EVs in the region.

In the video, Sandy and Cory from Munro Live discuss the impact of General Motors (GM) and Ford adopting Tesla’s NACS charging ports. They believe this change will greatly boost electric vehicle (EV) adoption, as it creates a unified charging system and eliminates complications with different chargers.

Sandy and Cory liken Tesla’s charging system to owning the gas stations; all future charging session revenue would go to Tesla, putting other charging infrastructure companies at a disadvantage. They urge other automakers, like Rivian, to also adopt NACS to stay competitive.

They also highlight the practical benefits of this shift. Sandy notes that he’d be willing to buy a GM electric vehicle if it used the Tesla charging system because of the convenience it offers. They argue that adopting a unified charging system will solve problems with EVs, such as the ability to travel long distances without worrying about where to charge.

The duo criticizes other charging systems as unwieldy and impractical, praising the elegance and reliability of Tesla’s system. They suggest that companies like ABB should negotiate licensing agreements with Tesla to produce these chargers, stressing the need for a unified approach to EV charging in the United States.

Finally, they appeal to the public, stating that this shift could help unite the country and promote the wider adoption of electric vehicles.

In an effort to demonstrate the potential of electric vehicle (EV) travel, Californian couple Rick Hall and his wife are travelling across North America with a trailer hitched to their 2018 Tesla Model 3. Having logged nearly 200,000 kilometres already, they plan to continue their journey west across Canada this summer. Hall retired from a career that involved global travel and decided to embark on a North American journey in the most environmentally friendly way possible.

Hall emphasizes that EVs come with many benefits, including less maintenance than a traditional gas vehicle. He notes that costs such as engine tune-ups, timing belts, transmission oil, and engine oil are non-existent for electric cars, which makes them extremely reliable and cost-efficient in the long run.

On his travels, Hall has been particularly impressed with Newfoundland's EV infrastructure, stating that fast-charging stations are readily available about every 100 kilometres on the Trans-Canada Highway. Although Teslas require a special adapter, Hall said this has not been a problem. He's been sharing his journey on Facebook and encourages people to ask questions about his experiences, hoping to promote the use of EVs as a step toward preserving the Earth and slowing down climate change.

A report by the NHTSA claims that instances of sudden unintended acceleration (SUA) in Tesla vehicles are real and not solely driver error, but this should be taken with a healthy amount of skepticism. The document suggests that fluctuations in Tesla's low-voltage system can be misinterpreted as full acceleration commands due to a suspected fault in the vehicle's inverter design. A high current demand from the steering assist system, powered by the 12-volt system, could cause a drop in voltage, which, if coinciding with a recalibration, may result in a faulty calibration equivalent to maximum acceleration. However, this theory has only been substantiated by open-source research on Tesla Model 3's inverter design and deliberate experimentation. Additionally, the researchers' proposed solutions to the issue - adding a second 12-volt supply line or adjusting the calibration routine software - seem overly simplistic and warrant further scrutiny. The report claims this issue affects all Tesla models, yet provides little direct evidence to substantiate this broad claim.

This video explores the condition and longevity of a Tesla Model 3 that has covered 200,000 miles. The owner is an Uber driver, who drives the car extensively, but the vehicle is found to be in very good shape despite its high mileage.

The video examines various aspects of the car's condition. The Tesla's interior is in excellent condition, including the original seats, which show no signs of wear. The software and systems all function as they should, including the automatic seat sensor, which had to be replaced once due to a fault. There are minor exterior damages, including paint peel on the wheel arches and a damaged side mirror, which are not covered under the warranty. The host also notes some usual wear and tear, including a clicking noise in the door hinge.

The car's battery health is at 88.1%, even after almost 200,000 miles. The host calculates that if the battery continues to degrade at its current rate, it would still have around 76% capacity at 400,000 miles.

In terms of maintenance, the car has required replacement of some parts like anti-roll bar drop links and top control arms, but the total cost, excluding tires, has been £808. The host also changed an amplifier for the subwoofer, which cost £120.

Despite the high mileage, the car drives as expected of a Tesla Model 3. It is a performance model and maintains its quick acceleration and speed. Additionally, the owner has saved on fuel costs, reducing CO2 emissions by six tons compared to a conventional internal combustion car.

The host concludes by stating that he would not hesitate to buy this car at the estimated cost of £15,000, given its condition, performance, and savings in fuel and maintenance. He highlights how owning such a car can save costs and minimize the need for frequent replacements associated with conventional vehicles, particularly at higher mileages.

Electrify America, a leader in electric vehicle (EV) charging infrastructure, has announced that it will add the North American Charging Standard (NACS) connector to its charging networks, while continuing to support the Combined Charging System (CCS-1) plug standard. This move is in response to increasing acceptance of Tesla's NACS by leading automakers like General Motors, Ford, Rivian, and Volvo. Electrify America aims to offer the NACS connector at existing and future charging stations by 2025, as part of the company's commitment to increase vehicle interoperability and streamline public charging.

Meanwhile, SAE International, a professional association and standards organization, is actively working on making Tesla's charging connector an industry standard configuration. This is expected to take six months or less, and will involve discussions with Tesla, Ford, GM, and other automakers, as well as the federal government. The US government's approach to CCS and NACS connectors aims to create a more interoperable and accessible set of chargers across the country.

The inclusion of the NACS connector in the Electrify America's network will further support the growth of the EV industry by providing more charging options for EV drivers. As EV adoption accelerates, Electrify America, with its vast network of more than 850 charging stations with about 4,000 individual chargers, is prepared to meet the changing needs of customers.

This comes in the context of Tesla's charging technology being fast-tracked to become a North American standard, a move supported by multiple automakers. The switch from the CCS1 to the NACS connector may also lead to the elimination of the J1772 AC plug, a separate AC charging plug.

Tesla continues to lead in the luxury brand category in the U.S. with a brand loyalty rate of 68 percent, according to the S&P Global Mobility study. This figure is 18.8 points higher than BMW, the second-place brand, and a 1.1 point increase from the previous year. In addition, Tesla is unique in being the only brand that retains more customers than it loses.

Significantly, Tesla has seen a growth in customer base due to migration from Toyota, with an increase of 2.1 points to 5 percent of Toyota customers making the switch year over year.

In another strategic development for Tesla, starting next year, vehicles made by Ford, General Motors, Rivian, and Volvo will have access to Tesla’s Supercharger network of DC fast chargers across the United States and Canada. Initially, this will be facilitated by a CCS1 to NACS adapter, but starting 2025, these manufacturers will integrate the NACS inlet into their vehicles during assembly.

Numerous automakers are integrating Tesla's well-respected charging technology, however, Lucid CEO, Peter Rawlinson, remains unconvinced. Rawlinson has likened Tesla's charger to either a screw cap or a cork on a bottle, suggesting that the focus should be on the quality of the "wine" (electric vehicle technology) rather than the charger. While companies like Ford, GM, Volvo, and Rivian plan to offer compatibility with Tesla's North American Charging Standard (NACS), Lucid will continue using the Combined Charging System (CCS). Even though Rawlinson acknowledges Tesla's Supercharger network's reliability, he is cautious about adopting the Tesla plug before it becomes standardized. His reluctance is also based on concerns about a single company owning extensive charging data. Despite having been involved in the creation of the NACS connector while he was the chief engineer of the Model S at Tesla, Rawlinson prefers to uphold his company's tech advancement and avoid unnecessary risks.