All You Need To Know about Tesla Model 2 "Redwood" - Production Plan, Rivals and 3 Hidden Features!

we're very far along on our next Generation lowcost vehicle CEO Elon Musk said at the fourth quarter 2023 earnings conference call last Wednesday and this is really going to be profound not just in the design of the vehicle itself but in the design of the manufacturing system he said Tesla's Next Generation lowcost vehicle is slated to arrive in 2025 but expect at least one USU competitor to already have a next genan look lowcost product on the market will this competitor pose a big challenge to Tesla or become a stepping stone for the resounding success of this new generation car come find out with us on today's episode of Tesla fans but don't forget to press the like share and subscribe button to our Channel we always appreciate your support don't wait any longer let's get started the success of the tesl Law plus 0.3% vehicle often referred to by by analyst says the model 2 hinges on the company's Next Generation manufacturing process call it Tesla 3.0 Tesla 3.0 represents the next phase in Tesla's vehicle development while 1.0 marked the introduction of the low volume high cost model SAA and 2.0 brought the high volume more affordable model 3 and model y 3.0 is envisioned as a stage featuring ultra high volume Next Generation vehicles this ambitious development aims to position Tesla as a surpassing force in production potentially outpacing established automakers such as Mercedes-Benz Honda or Nissan which car is the model 2's direct competitor from General Motors undoubtedly the next gen Chevy bolt is on the horizon General Motors a Pioneer in electric vehicle production predating Tesla by More Than A decade is set to unveil its next Generation Affordable Electric Vehicle the bolt ranking as the third bestselling electric vehicle in the US in 2024 is scheduled to make a comeback utilizing GM's ultium battery platform in 2025 as confirmed by GM CEO Mary Bara in December since its debut in 2016 the bolt has consistently held the title of being the top value electric vehicle in the US starting at approximately $27,000 its cost can drop below $20,000 when factoring in the federal tax credit at the point of sale GM plans to introduce its own affordable competitor a new Chevrolet bolt on the ultium platform in 2025 odds of the bolt will scoop up sales long before Tesla launches the new small crossover Alisa Priddle Detroit editor at motor Tren told me it remains to be seen how wide that gap between the two major growth waves referred to above will be it also means Tesla will have gone many years with virtually no new product the Cyber truck will be be the only new name plate in as many as 4 years and musk has said its cybertruck rollout will be slow Priddle said GM plans to achieve cost savings through the adoption of lithium iron phosphate lfp battery cells instead of the current nickel Cobalt manganese aluminum ncma chemistry used in the Altium battery cells as reported by GM Authority the Strategic shift is driven by the coste effectiveness of lfp batteries and their reduced risk of battery fires lfp batteries present a more economical alternative contributing to GM's efforts to streamline expenses in the development of their electric vehicles General Motors might launch its next Gene affordable bolt ahead of Tesla but there's no certainty that being first to Market will enable it to establish a dominant position while all automakers are working toward also reducing battery cost as a key path to reducing EV cost in general Tesla says it will reduce vehicle cost through radically different manufacturing process processes Stephanie Brinley associate director Auto intelligence SNP Global Mobility told me in an email note that Tesla lowered the cost of its EVS dramatically with the model 3 in 2017 but it never broke the $35,000 barrier at least not on a sustained basis that should change with the next Gene vehicle if Tesla achieves its goal it could create a notable competitive cost Advantage one which might be difficult to replicate quickly that Advantage along with Tesla's reputation and brand image could continue Tesla's dominance Brinley said so what will the specific production plan of Tesla next gen be like the anticipated price range for these vehicles is projected to fall between $25,000 and $30,000 the vehicle will initially be made at the Giga Factory in Texas where the Cyber truck is made and later in Mexico and then other locations around the world musk said back in October during the third quarter earnings conference call musk called the next Gene vehicle more conventional in order to achieve a units per minute level that is unheard of in the Auto industry he also described it as utilitarian we are between two major growth waves viib hav tanija Tesla's Chief Financial Officer said during the earnings call the first one began with the global expansion of model 3 and Y and we believe the next one will be initiated with the Next Generation platform he said going back to Tesla's business situation how has it changed in 2023 and what does Elon Musk have planned for 2024 despite the success of the model y medium SUV which became the bestselling car in Europe and possibly worldwide last year Tesla has experienced a challenging period for its shareholders in recent weeks the situation worsened with a significant decline in the stock price following less than optimistic detail details revealed in Tesla's quarterly earnings report despite plans to increase cybertruck production to 250,000 units per year and introduce a new more affordable passenger model these developments failed to bolster confidence on Wall Street the combination of a year-long strategy of price reductions to counter increasing competition coupled with the impact of inflation and interest rate hikes in major markets led to Tesla falling short of its Financial projections the company also acknowledge that its growth rate is expected to slow down in 2024 not even Tesla's CEO Alon musk's hyperbole about the Brand's new entry-level model unofficially dubbed model 2 that is scheduled to enter production in the second half of 2025 could provide a parachute for a stock price that is now declined for six consecutive weeks and is now trading at lows not seen since last April still Tesla's us 574 billion valuation far outstrips that of the world's biggest by volume Toyota which has a market capitalization of used 38.4 B is estimated to have sold 11 million cars in 2023 Tesla says it delivered 1.8 million Vehicles last year Mr musk described Tesla as between two major growth waves and that there was a lot to look forward to in 2024 we're very far along on our next Generation lowcost vehicle he added this is really going to be profound not just in the design of the vehicle itself but in the design of the manufacturing system far more advanced than any other Automotive manufacturing system in the world by a significant margin in an unusual move Tesla refrained from providing specific targets for 20124 perhaps influenced by the fact that its sales volume growth of 38% though impressive by typical Automotive standards fell short of the previously indicated 50% guidance from company executives the impact of price reductions which have been affecting profit margins reflected in the fourth quarter figures for 2023 amounting to $25.2 billion earnings per share came in at 071 slightly below Expectations by a few cents nevertheless Tesla's energy storage business experienced significant growth installing 14.7 gwatt hours G of capacity in 2023 mark a notable 125% increase initial assessments by Automotive data firm J Dynamics have recognized the model y as the world's best-selling car a designation also confirmed in Tesla's quarterly report which stated the delivery of 1.23 million units in the previous year if J's approximation of 1.7 million Toyota RAV4s sold in 2023 holds true the model y could become the first battery electric model to claim the the title of the world's most popular car in Europe the model why not only secured the position of the first battery electric vehicle at the top of the continent sales charts but also achieved the distinction of being the first from a non-european brand to do so in decades while Tesla's upcoming model 2 might replicate this success in a market favoring smaller Vehicles Elon Musk mentioned that it would initially commence production at the Austin plant in Texas during the earnings call musk and other Executives emphasized that the model 2 production would be perfected in Austin before expanding to other facilities the planned Mexican plants development would only proceed once Tesla is satisfied with the new production method we want to First demonstrate success with the Next Generation platform in Austin before we start construction said an unnamed executive on the earnings call therefore we have started the long lead work to get the basics ready and plan to follow our recipe from the three y ramp with Shanghai where we started with learnings from Fremont and ramp really quickly it's true the pace of EV growth has slowed CEO Mary Bara said which has created some uncertainty General Motors posted robust quarterly earnings for Q4 2023 surpassing Revenue estimates with $42.98 billion compared to the consensus estimate of $ 3953 billion furthermore the company's earnings per share stood at r a24 outperforming the estimated ton6 despite these positive Financial results electric vehicle enthusiasts may find disappointment in GM's outlook for its EV business the company acknowledged a Slowdown in its electric vehicle initiatives expressing uncertainty about the future trajectory of this segment so how will GM make 2024 no longer a hellish year General Motors to turn a profit by the second half of 2024 these forecasts rely on the existing expectations for electric vehicle demand and production expansion however GM remains Vigilant emphasizing the need to reassess the situation as the year unfolds we won't get to load a single digigit profitability until 2025 CFO Paul Jacobson said about ebit EV margins GM expects to sell at least 250,000 EES this year ditching the goal of building 400,000 units by mid 2024 GM appears to adopt a flexible approach adjusting its strategy as the year unfolds Bara mentioned that GM has the capability to adapt production and be particularly flexible with alternative powertrains especially hybrids if the need arises the specific segments expected to incorporate hybrids are currently unclear and these statements preced gms's scheduled launch of six new electric vehicles this year spanning across the Chev relet Cadillac and GMC Brands our forward plans include bringing our plug-in hybrid technology to select vehicles in North America barah said let me be clear GM remains committed to eliminating tailpipe emissions from our light duty Vehicles by 2035 but in the interim deploying plug-in technology and strategic segments will deliver some of the environmental benefits of EVS as the nation continues to build its charging infrastructure bar hinted at the standards proposed by the Environmental Protection Agency which would necessitate an annual fleetwide emissions reduction of 13% for vehicles up to the 2032 model year additionally there is a requirement for a 56% decrease in average emission levels starting with the 2026 model year we are going to be bringing hybrids in at a time where we need them from a compliance perspective Bara added during the call if enacted these rules would mean e would need to account for 2third of new vehicle sales in the U by 2032 the hybrid launches are expected to help GM comply with the more stringent fuel economy and tailpipe emission standards that are being proposed according to barah and we plan to deliver the program in a capital and cost-efficient way because the technology is already in production in other markets the remarks precede GM's scheduled launch of six fully electric EVS this year as well as the recent announcement of the 2024 Chevy Corvette r-ray a non plugin hybrid previously GM had offered the Chevy Volt pH from 2010 to 2019 and the Cadillac ELR from 2014 to 2016 going back to the cruise incident will Mary Bara kill that plan in the financial results for Q4 2023 and the full year 2023 GM reported a loss of nearly $2.7 billion before taxes from Cruise with approximately $1.9 billion in cash spent during the same period however for 2024 GM anticipates reducing Cruise spending by about $1 billion as part of its efforts to refocus and relaunch the self-driving startup at Cruz we are committed to earning back the trust of regulators and the public through our commitments and our actions wrote GM CEO Mary barah in the automaker's letter to shareholders last week we released the results of the the third party reviews and we've already begun to implement significant changes because of these reviews despite facing federal and state investigations into its technology Cruz has Enlisted the legal services of Quinn Emanuel to assess the startup's response to an October accident in this incident one of Cruz's robot taxist dragged and pinned a pedestrian who had been initially struck by another vehicle with a human driver the results of the investigation conducted by the legal firm were shared last week the findings highlighted that internet connectivity issues might have hindered Cruz's ability to transmit video footage to Regulators this comes in response to claims from the California Department of Motor Vehicles asserting that Cruz had omitted and misrepresented certain details in its reports to Regulators regarding the accident Cruz is set to appear in a hearing before the California Public Utilities Commission on February 6 along with cutting its funding for crws GM predicted Capital spending between 10.5 billion to 11.5 billion in 2024 it appears that despite a setback with the incident GM has not abandon the development of self-driving technology in fact it is now working on an even more significant project the company has decided to discontinue its Ultra Cruise driver assistance program a technology that had been considered a potential competitor to Tesla's full self-driving beta sources indicate that GM will cease the ultra Cruise program and shift its focus towards advancing the super Cruise system this decision aims to consolidate efforts into the development of a single Advanced Driver assistance system a Das eliminating the use of two different systems with distinct naming conventions while not explicitly confirmed this shift was seemingly emphasized by a GM executive in response to the initial report GM continues to expand access to and increase the capability of super Crews our Advanced Driver assistance technology said darl Harrison Jr GM's VP of Global Tech Communications in a statement to CNBC though he declined to comment on Ultra Cruise our Focus remains on safely deploying this technology across GM Brands and more vehicle categories while expanding to even more roads Ultra Cruise distinct from GM's more limited super Cruise system was designed for premium Vehicles while super Cruise was intended for economy level products Ultra Cruise aimed to provide hands-free driving and a broader range of areas where the Advanced Driver assistance system could be utilized the ultimate goal for Ultra Cru was to achieve the capability to drive the car independently in 95% of cases in terms of Technology Ultra Cruise was set to employ a combination of long range cameras and short range sensors along with a higher level of computing power compared to Super crws the system also emphasized the use of realtime data for vehicle control drawing comparisons to Tesla's full self-driving beta GM had previously announced plans to introduce Ultra Cruise in its Cadillac celestic EV as outlined in a press release last year following the initial software announcement in 2021 Ultra Cruise will cover more than 2 million miles of roads at launch in the United States and Canada with the capacity to grow up to more than 3.4 million miles wrote in its original announcement of the product customers will be able to travel truly handsfree with ultra Crews across nearly every road including city streets subdivision streets and paved rural roads in addition to highways ahead of the General Motors earnings call this week the automaker has new Union contracts and is expected to report around $10 billion in earnings however challenges remain for GM including electric vehicle production constraints and the ongoing effects of an accident involving one of it self-driving subsidiary cruises robot taxes in October GM is in a serious and continuing crisis with seemingly no end in sight so how will GM face these challenges in 2024 what will Mary Bara do next to prevent a crisis what are GM's biggest production constraints GM has faced challenges in increasing the production of its ULM platform primarily due to difficulties with an automation equipment supplier causing a significant delay in assembling battery modules in the previous month the automaker had to Halt sales of the Blazer EV due to software quality issues Chevy has acknowledged the software problems and mentioned that its Engineers are actively working on finding Solutions these issues Encompass glitches in the Blazer ev's infotainment system and in some instances problems with public DC fast charging functionality launched in the summer of last year with high expectations the Blazer priced around $6,250 for its RS trim aimed to compete with the Tesla Model Y and the Ford Mustang machette nevertheless the Chevy Blazer EV has received criticism from Automotive reviewers Edmunds an automotive review firm reported 23 separate issues with the Blazer EV it added to its long-term Fleet the vehicle had been in the dealership for several weeks to address what Edmunds described as the single long longest list of major faults we at Edmunds have ever seen on a new car additionally inside thees highlighted a problematic experience with the Blazer EV during a week-long test one of its writers encountered malfunctions in the car just 28 hours into the journey while making a routine stop at an Electrify America station ultimately leaving the rider stranded furthermore in November 2023 barah acknowledged the challenges in production stating that GM didn't execute well this year as it relates to demonstrating our EV capability looking ahead to 2024 bar expressed optimism anticipating a significantly higher production GM is gearing up to commence production of its upcoming Equinox EV later in the year positioned as a mass Market vehicle with an estimated price of around $35,000 including shipping commenting on the Equinox EV launch Wiston emphasized the importance of a Flawless debut stating that needs to to be a Flawless launch there's a space of affordable ease that Tesla is not in yet and you don't want Tesla to be first not stopping there how did GM destroy its future with cruise in addition to the production challenges faced by GM its autonomous vehicle subsidiary Cruz has encountered significant setbacks since one of its driverless Vehicles was involved in an incident where it dragged and pinned a pedestrian in October following the incident the California Department of Motor Vehicles DMV promptly revoked Cruz's license to operate self-driving Vehicles the DMV accused the company of misrepresenting and omitting critical details about the accident in its subsequent communication with the state the incident on October 2 involved a woman initially being struck by a human driven car and subsequently run over by one of Cruz's self-driving Vehicles causing serious injuries to The Pedestrian following the incident Cruise Executives met with officials from the California Department of Motor Vehicles to discuss the matter during this meeting the executives presented footage recorded by the robot taxis cameras showing The Pedestrian falling from the hood of a human driven car and ending up in the path of the robot taxi which unfortunately came to a stop on top of the woman however according to a report from Automotive news DMV officials have alleged that Cruz omitted crucial details from its presentation in two suspension orders issued on Tuesday it was revealed that the robot taxi continued to travel an additional 20 ft at a speed of 7 amp after running over The Pedestrian attempting to pull over this meant that The Pedestrian was dragged on the street after being run over potentially leading to additional injuries for the woman Cruz described the event in a recent post the AV biased rightward before breaking aggressively but still made contact with The Pedestrian the AV detected a collision bringing the vehicle to a stop then attempted to pull over to avoid causing further road safety issues pulling the individual forward approximately 20 ft Cruz wrote interestingly Cruz did not disclose the immediate actions of the robot taxi following the incident when it ran over The Pedestrian this lack of disclosure was observed both in the video provided by the GM self-driving unit to Media outlets and to the California Department of Motor Vehicles according to DMV officials they became aware of the robot Taxi's subsequent actions only after discussions with another government agency crw eventually supplied the complete video of the incident to the DMV on October 13 but this was in response to the agency's specific request the DMV highlighted that the robot Taxi's performance during the incident combined with Cruz's omission and misrepresentation of the events formed the basis for the suspension of testing permits for the driverless robot taxi service Bernard Sorano a deputy director at the DMV emphasized that the actions of the robot taxi after running over The Pedestrian indicated a need for additional safety optimizations in autonomous vehicles the subsequent maneuvering of the vehicle indicates that cruises Vehicles May lack the ability to respond in a safe and appropriate manner during incidents involving a pedestrian cruises emission hinders the ability of the department to effectively And Timely evaluate the safe operation of Crews vehicles and puts the safety of the public at risk the DMV deputy director noted since then the company Founders have resigned along with several Executives and the GM subsidiary has laid off almost a quarter of its Workforce following an independent review of the accident from GM hired Law Firm Quinn Emanuel the results of which were shared last week it was discovered that a lack of internet connectivity may have exacerbated the incident Cruis is set to appear before the California Public Utilities Commission CPU in a hearing on February 6th how is the GM situation affected by these incidents and what is Mary Bar's reaction GM is set to announce its Q4 and fiscal year 2023 earnings on Tuesday with expectations of nearly $10 billion in earnings for the year despite approximately $1.1 billion lost during a historic 6we strike by the United Auto Workers Union analysts will closely examine how GM plans to address the upcoming launch of the Equinox EV considering past production challenges additionally attention will be on how the company manages its autonomous vehicle unit Cruise Morning Star US Auto Equity analyst David Wiston is interested in the tone set by CEO Mary Bara and CFO Paul Jacobson for 2024 during the earnings call along with the company's Financial expectations given recent events Wiston believes that this year should be at least a solid year for them if not better however other analysts such as those at Bank of America anticipate a more significant impact from the UA W strikes on GM's 2023 numbers the note from Bank of America highlighted the potential challenges faced by GM and Ford due to pressures from the UAW strike particularly in impaired production the focus is expected to shift towards electric vehicle EV expectations with sentiment on electrification having recently soured in November GM also announced A10 billion share buyback plan as a move to boost Wall Street confidence following the knew you a double you labor agreement and with that last bit of news concludes today's episode if you have any interesting topics you want us to dive deeper in let us know in the comments and if you enjoyed today's episode as much as I did please leave a like share the video subscribe to the channel and ring that Bell so you won't miss out on the next exciting episode of Tesla fans once again thank you so much from all of us here we will see you next time until then have a good one and safe [Music] travels [Music] d [Music] a [Music] [Music] t [Music] [Music] oh [Music]