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  • Uber boss casts doubt on Tesla’s Robotaxi vision

    Uber boss casts doubt on Tesla’s Robotaxi vision

    The Chief Executive Officer of the established ridesharing company Uber stimulated some buzz when he questioned the viability of Tesla’s Robotaxi plans in a popular talk show on Friday.

    Tesla’s Robotaxi business model

    Tesla plans to establish its own autonomous vehicle fleet with its Robotaxi, which CEO Elon Musk calls “Cybercab.”

    CEO Musk explained that the business model combines the concept of rental accommodations company Airbnb and ride-hailing service Uber.

    “Tesla will be some combination of Airbnb and Uber. At any time, they can have the car come back to them, like Airbnb for cars.”

    Tesla CEO Elon Musk

    It will basically allow owners to “add or subtract their cars from the fleet whenever they want.” They can also decide who can book their Tesla cars, such as friends, families, 5-star users, or anyone.

    CEO Musk claims that Tesla owners could earn up to $30,000 a year from this business, excluding Tesla’s 25%-30% cut from those rides.

    The company plans to integrate the ride-hailing service into the Tesla app.

    Tesla’s Robotaxi plans under scrutiny as Uber CEO expresses doubts

    Uber CEO Dara Khosrowshahi guested on the Logan Bartlett Show on YouTube on Friday, with the episode revolving around autonomous vehicles.

    Intriguingly, the Uber boss shared his doubts about Tesla’s Robotaxi plans. CEO Khosrowshahi asserted it “wasn’t clear” to him that Tesla owners would want their cars “be ridden in by a complete stranger.”

    CEO Khosrowshahi also noted that peak ride-sharing times will likely overlap with the times Tesla owners need to use their cars.

    “Probably the times at which you’re going to want your Tesla are probably going to be the same times that ridership is going to be at a peak.”

    Uber CEO Dara Khosrowshahi

    In comparison, Khosrowshahi explained that Uber can easily increase the number of part-time drivers to adhere to demand, especially during rush hours.

    The Uber boss also expressed doubts about the people’s readiness to adopt self-driving vehicles.

    “Logic would dictate that if robots are twice as good a driver or three times as good as drivers as humans, that’s good for society going forward, but I honestly don’t know if society’s ready to accept that.”

    Uber CEO Dara Khosrowshahi

    In addition, CEO Khosrowshahi pointed out that Elon Musk might be underrating a crucial part of the ridesharing business. He emphasized the significant difference between launching a ridesharing fleet and a carmaking business.

    “It’s a really, really different business you know, as well as talking about hardware, to build a $20,000 or $50,000 piece of hardware from driving over 30 million transactions every day that on a revenue basis you make $2 off of. It’s just a very, very different business.”

    Uber CEO Dara Khosrowshahi

    CEO Khosrowshahi also outlined the additional platforms that aspiring companies need to develop to prepare for worst-case scenarios in a ridesharing vehicle.

    After outlining his numerous apprehensions about Tesla’s Robotaxi plans, CEO Khosrowshahi hinted at Uber’s interest in partnering with the electric vehicle giant to bypass the major challenges he mentioned.

    “It’s taken us 15 years. It’s taken us tens of billions of dollars of capital, and we can provide that instantly to a partner. Hopefully, Tesla will be one of those partners.”

    Uber CEO Dara Khosrowshahi

    Tesla Robotaxi debut

    Tesla originally planned to debut its Robotaxi on August 8, 2024. However, CEO Musk delayed the unveiling event to October 10, 2024.

    According to the Teska boss’ announcement, the delay would enable the company to “make some important changes” to further refine the highly anticipated Robotaxi and “show off a few other things.” CEO Musk also specified that he requested several front design changes.

    It would be interesting to see if Tesla would take CEO Khosrowshahi’s suggestion to partner instead of establishing its own ridesharing platform, potentially enabling it to bypass major challenges that Uber already encountered and solved.

    Presented below is the full interview with Uber CEO Dara Khosrowshahi:

  • Tesla secures direct sales license in Kentucky

    Tesla secures direct sales license in Kentucky

    Electric vehicle giant Tesla has finally received the necessary direct sales license from Kentucky authorities, eliminating previous constraints in its local operations.

    Tesla expands direct sales model reach with Kentucky being the latest state

    Tesla has secured a direct sales license in Kentucky after state authorities banned it from certain sales, according to Tesla Owners of Kentucky.

    At the time, Kentucky regulators contended that the Musk-led company’s direct-to-consumer model violates particular legislation that mandates vehicle sales to occur only in a franchised dealership.

    The renewed list of automotive dealers Kentucky released on Friday backed the claims that Tesla has finally received a sales license in the state. As you can see in the document, Tesla is located at 11701 Gateworth Way in Louisville. It would not be surprising if Tesla decided to build an actual store and service hub in Kentucky soon.

    Tesla breaks down dealer barriers

    Kentucky officials previously limited Tesla’s operations in the state despite allowing it to sell its vehicles directly to customers.

    For instance, the electric automaker faced constraints on vehicle leasing and certain service operations.

    The restriction basically deterred the Musk-led company from leasing its electric vehicle models to customers. It also prevented Tesla from conducting service operations in the state, forcing owners to go to other states to get the service they needed.

    With the attainment of an official direct sales license, Tesla has broken down these barriers that used to impede its sales in the state.

    Hiring underway

    As you can see in the Tesla Owners of Kentucky’s X post, Tesla has also been conducting recruitment in Louisville.

    Open positions include the following:

    • Tesla Sales Advisors
    • Vehicle Readiness Specialists
    • Sales Managers
    • Service Technicians

    Tesla outlined in the job advertisement that successful candidates for the Tesla Sales Advisor position will be responsible for “consistently delivering an educational, immersive, and exciting experience to both current and potential customers.”

    Tesla’s attainment of a direct sales license in Kentucky is undoubtedly a significant feat, potentially enabling the brand to further expand its footprint in the state. Tesla may launch physical stores and service hubs in the state soon, bringing its products closer to local customers. With hiring underway for various positions, Tesla is indeed capitalizing on this new opportunity.

  • Archer Aviation to launch eVTOL air mobility network in Los Angeles

    Archer Aviation to launch eVTOL air mobility network in Los Angeles

    American electric aircraft developer Archer Aviation has just declared plans to launch an electric vertical take-off and landing (eVTOL) air mobility network in Los Angeles, California.

    Archer Aviation’s electric air taxi service to arrive in LA

    On Thursday, Archer Aviation announced it will introduce a groundbreaking air mobility network to replace “one-to-two-hour drives with 10-20 minute” eVTOL aircraft flights.

    According to the press release, the proposed air mobility network includes vertical take-off and landing locations (vertiports) at strategic areas like the following:

    • Los Angeles International Airport (LAX)
    • Orange County
    • Santa Monica
    • Hollywood Burbank
    • Long Beach
    • Van Nuys
    • University of California (USC)

    Archer also revealed ongoing negotiations with the Los Angeles Rams for proposed exclusive vertiports at Woodland Hills and Hollywood Park, an almost 300-acre district centered around the SoFi Stadium.

    “We are excited about the opportunity to bring Archer’s game-changing technology to Hollywood Park. This underscores our commitment to enhancing the guest experience as we continue to build this transformative global destination for sports and entertainment.”

    Los Angeles Rams President Kevin Demoff

    In addition,  Archer will also collaborate with USC to convert the school’s existing heliports for Midnight and other eVTOL aircraft.

    “This is a big moment for Archer. Establishing our LA network ahead of the global events that are coming to the region over the next four years is a milestone that will put Midnight on display for the whole world to see. LA is known for its horrendous traffic—our goal is to offer a safer, faster and sustainable alternative travel option.”

    Adam Goldstein, CEO of Archer

    About Midnight eVTOL aircraft

    Archer Aviation’s Midnight is a four-passenger electric eVTOL aircraft, which promises to deliver “sustainable, low-noise, and safe alternative” transportation to passengers.

    It boasts a top speed of 150 miles per hour, making hour-long ground transportation into just several minutes in the skies.

    Archer Aviation also boasts that Midnight can support back-to-back flights of 20-50 miles with only minimal charges in between. Moreover, it is apparently a hundredfold quieter than a helicopter at cruising altitudes.

    Midnight can carry up to four passengers and a pilot, excluding carry-on luggage.

    The Midnight eVTOL aircraft has already secured a Part 135 certification from the FAA en route to bonafide commercial flight operations.

    Governor Gavin Newsom expressed his delight with Archer Aviation’s initiative, emphasizing California’s potential for technological innovations.

     “California is showing the world what’s possible when you embrace innovation, entrepreneurship and clean energy to help solve your biggest challenges. Homegrown companies like Archer Aviation are pioneering the next generation of zero-emission transportation that will help California cut pollution, clean our air and reduce traffic.”

    Governor Gavin Newsom

    Archer aims to kick off the electric air taxi service operation in Los Angeles as early as 2026, ahead of the surge of visitors across the world for the 2028 Olympic Games.

  • Dodge unveils official pricing for its first EV: 2024 Charger Daytona to start at $59,595

    Dodge unveils official pricing for its first EV: 2024 Charger Daytona to start at $59,595

    Stellantis‘ American brand Dodge has finally revealed the official pricing of its first electric vehicle model, the 2024 Charger Daytona, which is an astounding $59,595.

    Official pricing

    The iconic American automaker outlined the official prices of its all-new 2024 Charger Daytona EV in a press release on Wednesday.

    The next-gen Dodge muscle car offers two high-performance options: the R/T and the Scat Pack.

    The Dodge Charger Daytona R/T starts at the manufacturer’s suggested retail price (MSRP) of $59,595. This trim comes with a standard Direct Connection Stage 1 upgrade straight from the factory, offering a wide range of innovative features, such as a sports suspension to improve the driving experience.

    On the other hand, the 2024 Dodge Charger Daytona EV Scat Pack starts at an MSRP of $73,190. It boasts the Direct Connection Stage 2 upgrade straight from the factory, enabling it to remain the “world’s quickest and most powerful muscle car.” It also supports multiple drive mode options like Track, Drag, and Custom. Drivers can also choose from various race options, such as launch control and donut mode, among others. In addition, it comes with a standard “Track Package,” offering adaptive dampers, Brembo fixed-piston brakes, upgraded seats, and a video data logger for drag-strip runs and road-course.

    It must be noted that all prices mentioned above exclude the $1,995 destination fee. Therefore, the final price for the two trims after the destination charge would be as follows:

    • Dodge Charger Daytona R/T – $61,990
    • Dodge Charger Daytona Scat Pack – $75,185

    Available extras for the 2024 Dodge Charger Daytona are as follows:

    OptionsFeatures
    Plus Group ($4,995)Leatherette low back bucket seats with ventilation (R/T) Leather high-back bucket seats with ventilation (Scat Pack) Optional Demonic Red seat color ($495) Premium IP and door trim panels 16-inch color driver display (R/T, standard on Scat Pack) Deluxe security alarm (R/T, standard on Scat Pack) Power hatch Attitude Adjustment lighting Head-up Display (R/T, standard on Scat Pack) 360-degree surround view camera Frunk Wireless charging pad Premium LED headlamps Exterior mirrors with Dodge logo puddle lamp 20-by-9-inch aluminum wheels (on R/T) Much more additional content  
    Blacktop – R/T ($1,095)Dark exterior badges 20-by-9-inch Dark Aluminum wheels with 255/45R20XL Nexen tires 20-by-10-inch Dark Aluminum wheels with 275/40ZR20XL Goodyear Eagle Sport All-Season tires (with Plus Package)  
    Sun & Sound ($2,495)Full glass roof 18-speaker Alpine PRO audio system with subwoofer  
    Carbon & Suede – Scat Pack ($2,995)Leather/suede high-back performance seats Door panel with carbon-fiber insert Instrument panel with carbon fiber and suede Suede headliner and A-pillars Carbon-fiber exterior mirrors Dark exterior badging 20-by-11-inch Dark Aluminum wheels Much more additional content  
    3-Season Tires $695 (Scat Pack)305/35ZR20XL Goodyear Eagle F1 Supercar 3 – front tires 325/35ZR20 Goodyear Eagle F1 Supercar 3 – rear tires  

    It is also worth noting that both trims are eligible for the full $7,500 federal tax credit under the US Inflation Reduction Act when leased.

    “The future of the Dodge brand launches with a two-model 2024 Dodge Charger Daytona two-door lineup that looks, drives, sounds and feels like a Dodge, outperforming the legendary models they replace and delivering the experience the Dodge Brotherhood of Muscle expects.”

    Matt McAlear, Dodge brand chief executive officer – Stellantis

    About the 2024 Dodge Charger Daytona EV

    One of the special features of the 2024 Dodge Charger Daytona EV is its new “Fratzonic Chambered Exhaust,” simulating the sound and feel of a V8 engine.

    The new electric muscle car utilizes an all-electric 400-volt dual motor system with a standard all-wheel-drive configuration. It rides on Stellantis’ STLA Large platform. Standard features also include one pedal pedal driving and three-level regenerative braking. It also offers a wide range of standard safety features like automatic emergency braking, active blind spot with lane management system, and active lane management system, among others.

    Presented below are the key details of the 2024 Dodge Charger Daytona EV trims:

    2024 Dodge Charger Daytona EV trimHorsepower0 to 60 mph timeStarting price
    Dodge Charger Daytona R/T496 hp4.7 seconds$59,995
    Dodge Charger Daytona Scat Pack670 hp3.3 seconds$73,190

    Production plans

    Dodge plans to start producing the two-door coupe version of the 2024 Dodge Charger Daytona Scat Pack and  R/T EV trims in the summer of 2024.

    The production of the four-door version of the EV will follow in the first half of 2025. Dodge will produce its new offering at the existing Windsor (Ontario) Assembly Plant.

    Dodge expects to start shipping the all-electric 2024 Dodge Charger Daytona EVs to dealerships by the fourth quarter of 2024. It would be interesting to see how Dodge’s first EV will compete in the electric vehicle market amid customers’ growing preference for lower-cost models.

  • Electric vehicle battery costs plummet 90% from 2008 to 2023

    Electric vehicle battery costs plummet 90% from 2008 to 2023

    Li-ion battery pack prices for light-duty vehicles declined by an astounding 90% from 2008 to 2023 on average, according to the Department of Energy’s (DOE’s) Vehicle Technologies Office’s estimates.

    Notably, the DOE used 2023 constant dollars to signify purchasing power (adjustment for inflation).

    EV battery pack prices have fallen 90% since 2008

    Electric vehicle battery pack prices for a light-duty vehicle in 2008 declined by a whopping 90% in 2023, per the DOE’s estimates.

    To be specific, a kilowatt-hour of usable EV battery capacity cost approximately $139 last year. This amount indicates a notable drop from $1,415/kWh in 2008. According to the report, the DOE based this calculation on a “usable-energy basis for production at scale of at least 100,000 units per year.”

    The significant drop in li-ion battery pack prices managed to outpace inflation (refer to the “current dollars” in the chart below):

    Industry breakthroughs lead to cheaper batteries

    The astounding 90% slide in li-ion battery pack prices for light-duty vehicles is primarily due to major innovations in battery technologies and chemistries.

    In addition, breakthroughs in battery manufacturing and increased production volume also played a crucial role in the substantial price decline of li-ion battery packs.

    Declining battery prices to accelerate EV market growth

    Considering a price of $139/kWh of usable battery capacity, a brand new 100 kWh pack would total $13,900. Meanwhile, the more prominent 80 kWh battery pack should cost $11,120.

    Therefore, the battery pack remains a significant portion of the overall cost if the electric vehicle is in the price range of $35,000-$40,000.

    Nonetheless, the 90% decline in battery pack prices from 2008 to 2023 is still a significant progress in the electric vehicle industry.

    It would be interesting to see whether EV battery prices will continue to decline in the following years. Upcoming new battery technologies and potential increases in production will undoubtedly play a significant role in sustaining the downward trend in EV battery prices.

    Recycling may also help battery makers in reducing material and production costs, thus making their products less expensive.

  • Neuralink expands human trials with second brain chip implant

    Neuralink expands human trials with second brain chip implant

    American brain-computer interface company Neuralink has finally implanted its innovative brain chip into its second human patient, Founder Elon Musk revealed in a recent podcast.

    https://twitter.com/global_voters/status/1820312581841760498

    For context, the implanted device enables paralyzed patients to utilize digital devices by thinking alone.

    Second patient receives implanted brain chip

    Neuralink Founder Elon Musk announced during a podcast episode with Lex Fridman on Friday that the neurotechnology startup has successfully implanted a second trial human patient with its brain chip.

    The podcast lasted approximately 8.5 hours, with Fridman noting that it was the longest episode he had ever done. He went on to describe the conversation as “fascinating, super technical, and wide-ranging.”

    Intriguingly, Musk implied that the second implant was successful so far. He revealed that 400 of the 1,024 electrodes on the Neuralink implant are functioning so far in the second patient’s brain.

    “I don’t want to jinx it, but it seems to have gone extremely well with the second implant. So there’s a lot of signal, a lot of electrodes. It’s working very well.”

    Neuralink Founder Elon Musk

    The second patient also suffers from a spinal cord injury like the first patient who received the brain chip. The injury reportedly stemmed from a diving accident.

    First patient’s experience so far

    Neuralink’s first patient, Noland Arbaugh, was also present on the podcast on Friday.

    For context, Arbaugh received his brain chip implant in January 2024. Before the surgery, he relied on a tablet stylus to control digital devices. His caregiver would place the stylus into his mouth, requiring him to sit upright. However, this practice apparently caused discomfort, pressure sores, and muscle fatigue. It also reportedly adversely affected Arbaugh’s speech.

    Now, Arbaugh shared that he can already control the computer by mere thoughts. Specifically, he can now play video games, browse the internet, use social media platforms, and control a cursor on his laptop.

    Arbaugh has reached a new world record for the speed at which he can control a cursor with his thoughts alone,” with only roughly 10, 15% of the electrodes working.”

    With this significant advancement, he acknowledged that the implant had given him more freedom and lessened his dependence on caregivers.

    The brain chip implant is part of  Neuralink’s ongoing Precise Robotically Implanted Brain-Computer Interface (PRIME) Study.

    It conducts clinical trials with the implant technology on human patients suffering from quadriplegia due to either spinal cord injury or amyotrophic lateral sclerosis (ALC).

    The study aims to enable patients to control an external device like a computer mouse by mere thoughts.

    Musk omitted to share when Neuralink conducted the second patient’s brain implant. Nonetheless, he disclosed that he expects the company to complete brain chip implants for eight more human patients in 2024 alone as part of its ongoing clinical trials. Last month, the American billionaire also declared plans to include more than 1,000 human patients in the PRIME Study by 2026.

    You can watch the full podcast episode with Elon Musk, Neuralink executives, and Noland Arbaugh below:

  • Tesla Model 3 proves EV endurance: 200K miles, minimal battery degradation

    Tesla Model 3 proves EV endurance: 200K miles, minimal battery degradation

    A Tesla Model 3 owner has just recorded 200,000 miles on his electric sedan’s original battery pack and motors in less than six years. Despite this, the EV only showed minimal range loss.

    Minimal battery degradation after 200K miles

    A 2018 Tesla Model 3 Performance owner named Lawrence has clocked 200,000 miles on the original 75 kWh battery pack in almost six years with a 244 Wh/miles efficiency, according to YouTube content creator Tesla Joy.

    Despite reaching high mileage, Lawrence reported a net loss in range of just approximately 9-10%.

    Impressively, Lawrence emphasized that this battery degradation rate has no longer increased since his Tesla Model 3 reached 100,000 miles. The initial battery capacity decline was reportedly more apparent in the first 50,000-70,000 miles.

    The owner further noted that he often utilizes supercharging technologies for his Tesla Model 3, claiming that the charging rate can still hit up to 250 kW with appropriate preconditioning. This result implies that supercharging did not significantly damage the electric sedan’s battery.

    In addition, the electric sedan only needed minimal upkeep. Lawrence outlined that his Tesla Model 3 still maintains its original brake pads. Aside from a minor control arm issue, the electric sedan has not encountered significant mechanical problems. A supercharger circuit did require a fix before the car hit 155,000 miles, primarily due to its age rather than excessive use. As expected, Lawrence has replaced the tires multiple times, mostly due to punctures from nails instead of general wear and tear.

    Tesla’s after-sales support

    While the 2018 Tesla Model 3 Performance in question impressed with its remarkable battery durability and low maintenance cost, Lawrence’s ownership has not really been smooth sailing.

    He shared his dismay with Tesla’s after-sales support system regarding his electric sedan’s persistent seat sensor issue. This malfunction reportedly needed a high-cost out-of-warranty repair.

    EV longevity concerns sidelined as Tesla Model 3’s battery and motors endure

    Electric vehicles have long been associated with longevity and battery degradation issues. However, ongoing advancements in battery technologies continue to address most of these apprehensions.

    Lawrence’s 6-year ownership experience with his 2018 Tesla Model 3 Performance demonstrates its remarkable longevity and low maintenance cost.

    EVs are indeed cheaper to maintain than their ICE counterparts due to their lesser moving parts. In addition, it also proves that EV batteries really last a significant amount of time, contradicting critics’ claims that owners “have to get a new battery every 75,000 miles.”

    You can watch the Tesla Joy’s full YouTube content below:

  • Lucid Chief drives first pre-production Gravity electric SUV off assembly line in Arizona 

    Lucid Chief drives first pre-production Gravity electric SUV off assembly line in Arizona 

    American electric vehicle startup Lucid is making strides in its efforts to expand its current product portfolio. On Wednesday, Chief Executive Peter Rawlinson drove the first pre-production Gravity electric SUV off the assembly line at its Casa Grande, Arizona plant.

    First pre-production Gravity SUV leaves production line in Arizona

    Lucid CEO Peter Rawlinson shared the historic occasion on the social media platform LinkedIn, indicating a brief heartwarming caption and a video clip.

    As you can observe in the video (reposted by @LucidOasis), numerous Lucid employees in the Arizona plant cheered for the significant milestone as the Lucid boss briefly drove the Jubilee electric SUV.

    “I feel so honored to have just driven the very first pre-production Lucid Gravity fresh off the production line at our Arizona factory. Accompanied in the vehicle with some of our hard working Arizona associates, with so many more gathered together to share this special moment in time, Lucid Gravity moves another step closer to customer’s hands. Not all EVs are born equal.”

    Lucid CEO Peter Rawlinson stated in the post

    Lucid Gravity nears customer model production

    The release of the first pre-production Lucid Gravity SUV makes the electric luxury SUV one step closer to customer model production.

    Lucid plans to start building production models later this year ahead of customer deliveries.

    About Lucid Gravity

    Lucid’s highly awaited Gravity electric SUV boasts a luxurious interior with a three-row configuration, offering enough space for seven adults and their things. In addition, it will reportedly deliver a driving range of 440 miles.

    According to CEO Rawlinson, the model “represents a significant leap forward for Lucid’s world-leading technology and design.” It also taps into the company’s next-gen tech, an exciting development from the award-winning Air luxury electric sedan.

    https://twitter.com/realAliTurk/status/1811847797026746387

    The Gravity will serve as the brand’s first electric SUV model and second offering after the Air. It is expected to cost at least sub-$80,000, competing with the likes of the Rivian R1S and the Tesla Model X.

    After Gravity’s market launch, Lucid aims to penetrate the mass market segment with its new midsize electric SUV to challenge the Tesla Model Y in late 2026.

  • Hertz plans massive Tesla EV sell-off after disappointing quarter

    Hertz plans massive Tesla EV sell-off after disappointing quarter

    Car rental giant Hertz is gearing up to accelerate sales of its remaining Tesla electric vehicles after reporting lackluster second-quarter results on August 1, 2024.

    Hertz to offload Tesla EVs

    Hertz outlined an even bolder plan to offload the remaining Tesla electric cars in its fleet after suffering another worse-than-expected loss in Q2 2024. This initiative is apparently due to depreciation and mismanagement of the company’s electrification plans.

    In hindsight, Hertz announced plans to add 100,000 Tesla EVs to its fleet three years ago. This particular announcement pushed its stock upward, enabling it to hit a $1 trillion market cap.

    However, Hertz apparently failed to manage the acquisition or the maintenance of these luxury EVs. Tesla also imposed aggressive price cuts on the Model 3 and Model Y, causing the resale value to decline sharply. In effect, Hertz’s bet on Tesla EVs caused significant losses that continue to hurt its financials up until now.

    Now, Hertz is planning to sell “tens of thousands” Tesla EVs this year alone, according to Bloomberg.

    “Hertz has said it will sell tens of thousands of Tesla electric vehicles this year. The company said Thursday that it expects the fleet overhaul to be substantially done by the end of 2025, by which point monthly depreciation will normalize in the low $300s per unit.”

    Bloomberg

    For reference, Hertz is currently facing a per-unit monthly depreciation of $600.

    Q2 2024 loss

    As per Hertz’s Q2 2024 Financial Report, the car rental company lost an adjusted $1.44 a share ($440 million adjusted net loss). It represents a worse-than-expected result compared to industry analysts’ average estimate of a $1.17 deficit.

    Hertz explained that its fleet refreshment initiatives pushed drove per-unit depreciation to $600/month, an over threefold increase from a year ago, as it sells off EVs faster than it initially planned.

    Reevaluating EV strategy

    Hertz’s new Chief Executive, Gil West, contends that more adequate management of the vehicle fleet and more efficient business practices can still reverse the downward trend in the company’s financials.

    Considering the new plan to sell tens of thousands of Tesla EVs this year, Hertz expects to complete the fleet overhaul by the end of 2025.

    The misfortune seems to be largely due to the increasing interest rates and slower economics, which prompted customers to delay purchase plans. In response, Tesla had to cut the prices of its EVs to maintain the demand-supply balance.

    So far this year, Hertz shares are down 60%.

  • Tesla Model Y “Juniper”: Leaked photos hint at major design overhaul

    Tesla Model Y “Juniper”: Leaked photos hint at major design overhaul

    Photos of an apparent Tesla Model Y “Juniper” refresh recently emerged in the online community, stimulating significant buzz among electric vehicle and Tesla enthusiasts.

    While Tesla Chief Executive Elon Musk has already clarified that no Tesla Model Y update will arrive this year, it does not mean the company is not testing prototypes yet.

    Tesla’s bestseller gets a refresh

    Reddit user Abomb1997 leaked the photos of an apparent Tesla Model Y on the social media platform, revealing the tailgate of the electric crossover with Tesla lettering. The circulated photos also unveiled details from the cabin, including the unit’s ventilated seats and ambient lighting.

    Interestingly, the author deleted the photos in question soon after they reached the r/teslamotors sub-Reddit. The sudden deletion gave more weight to the speculation that the photos were actually of a Tesla Model Y Juniper. The photographer’s face on the bumper implies he might have taken a professional risk for this activity.

    Leaked photos details

    As you can observe in the first leaked image, the top-selling Tesla Model Y electric crossover will likely receive a full-width red LED light bar at the rear. This addition could light the white stripe that comprises the Tesla lettering.

    The second photo revealed the refreshed Tesla Model Y’s cabin, featuring perforated leather seats like the updated Model 3 Highland. It also has the widely demanded ambient lighting setup and a dark gray dash rather than the model’s current wood trim, as the photo showed.

    Launch date

    Tesla has no plans yet to launch the Model Y “Juniper” in 2024. Nonetheless, it is already testing the electric crossover’s camouflaged prototypes.

    Tesla seems to be aiming to squeeze more juice from the current model for the upcoming refresh, considering it dominated the global car market in 2023.

    The front design of the refreshed Tesla Tesla Model Y remains a mystery. It is also important to note that these leaked photos are unofficial. In the meantime, we can refer to several digital artists’ impressions of the highly awaited Tesla Model Y refresh based on the leaked photos.