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Home / Business / Elon Musk: Really, really believes that Teslas will gain in value, God bless him

Elon Musk: Really, really believes that Teslas will gain in value, God bless him



The morning shift. All your daily car news in one convenient place. Is your time not important?

Congratulations to Chevy for his emoji application for pickups. Other news indicates that Chile's chance of becoming a leading manufacturer of lithium-ion batteries is huge, that European car sales are very bad, and that there are alliances, so many alliances. All this and more in The Morning Shift for Wednesday, July 17, 2019.

1. Gang: Musk really believes that Tesla appreciates assets?

Already in April, Elon Musk made the fake argument that Tesla's great investments are because they'll be worth more in the future if they're able to control themselves, which he claims is only accomplished with a software update can be.

Yesterday, Musk doubled that argument in a Twitter conversation with a customer who bought a $ 3 million model 3 eight months ago, when exactly the same car can now be bought for a hair over $ 60,000 :

With the exception of classics and collectors, cars are an example of depreciation. The Model 3 is not and remains such a car, since Tesla currently produces about 60,000 cars per quarter.

Musk does not seem to understand why cars lose value at all. It has nothing to do with how often you drive them. Cars lose their value as soon as you leave the parking lot because the seller knows what the car has gone through. the buyer is not. It is the literal case of information asymmetry used by economists around the world to explain the concept.

Musk's hypothesis ignores that in this fantasy world, where everyone becomes a capable Robotaxi, Tesla is likely to be capable of autonomous driving. However, it is highly unlikely – and the height of hubris – to assume that Tesla will be the only company able to drive independently for a significant amount of time.

In general, his appreciative argument ignores the enormous, almost unpredictable effects that fully self-driving cars would have on vehicle demand. He predicted a possible outcome and assumed that this would be the only change that determines the value of a vehicle. That's gross, basically wrong. If anything, the information asymmetry associated with used car sales is even more extreme in Musk's Robotaxi fever dream, precisely because such extreme usage rates make some used Tesla even less desirable. Anyway, less than an hour later Musk announced a $ 1,000 auto pilot price increase . But hey, autopilot will be worth $ 18,000 by 2021, so you would be stupid not to buy it .

. 2 Gang: sales are also fueling in Europe

We've been watching sales decline in the US for a while, but a friendly reminder: it's not just a US thing. Here's Reuters on developments in Europe:

European car sales fell 7.9% in June, led by stronger declines at Nissan (7201.T), Volvo and Fiat Chrysler (FCA) (FCHA.MI) on the Published Wednesday.

Registrations declined from 1.62 million in the previous year in the European Union and the EFTA countries to 1.49 million vehicles last month, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, adding to the decline.

You know the business by now: cars are more expensive and sales are falling, which is more or less okay right now because the two are balancing, but the next recession is coming, if people do not want to buy expensive cars, it will

. 3 Gear: Toyota enters into partnership with Chinese energy company

Toyota, an early leader in hybrids, has sluggishly focused on full electrification. That seemed to change finally last month when it started in 2019, declaring that half of its revenue would be electric by 2025.

In an important step towards this goal, it has signed a contract with the Chinese energy company CATL for battery supply. By Reuters:

Toyota Motor Corp. (7203.T) has agreed with China's Contemporary Amperex Technology Co.Ltd. (CAT) (300750.SZ) to supply and develop batteries for new energy vehicles.

The Japanese automaker announced Wednesday that companies have also entered into discussions on a number of areas, including the development of new technologies and the reuse and recycling of batteries.

CATL is also a supplier to Honda and Volvo, and Toyota also had a procurement contract with BYD, another Chinese company.

. 4 Gear: Alliance for you, Alliance for you, Alliance for you

We are We are proud to present another edition of this week's Alliances with Renault and Jiangling. Here's Reuters with more:

Renault (RENA.PA) has closed a joint venture partnership with the Jiangling Motors Corporation Group (JMCG) to serve the Chinese market for electric vehicles (EV)% stake in the new company ,

Renault announced that it would raise its share capital by around RMB 1 billion, or around € 128.5 million (US $ 144 million), to acquire its 50% stake in the new company.

Again, you probably know the deal: EVs and AVs require a lot of capital for research and development, and most automakers do not have their own resources, and even those who do not particularly want to pay the bill themselves. Hence all partnerships and alliances.

. 5 Gang: Keep an eye on Chile

One of the biggest questions facing the auto industry is how the global lithium supply chain meets the demand for batteries. China is currently in a survey.

However, Chile has the world's largest lithium reserves. The problem is that they do not take advantage of this huge advantage. From a Deep Reuters Dive:

The Chilean government has failed to deliver the promising, low-cost lithium in a rapidly changing market, such as a Reuters review of regulatory filings and government-developed internal documents revealed agency.

Chilean chemical company Molymet, which had planned the construction of one of the battery parts factories, announced last week that it is discarding these efforts. it declined to say why. This follows a similar defect of the South Korean POSCO. The steelmaker announced in June that it had withdrawn from a joint venture to build a Chilean plant with Samsung's battery pack, and was worried about the lithium supply. Samsung told Reuters that it is currently testing the project.

China's Sichuan Fulin Transportation Group Co has not yet put the planned Chilean factory into operation. Fulin did not respond to requests for comments.

The whole article is worth reading, but here is the monetary quote:

"It's a Great Reality Exam," [Emily Hersh, a managing partner with the Washington, D.C.-based consultancy DCDB group] said. "Chile is a powerhouse in the production of battery chemicals. If they can not do that, everyone has to pay attention and find out why. "

I just assume that everyone finds out, because there is too much money on the table.

Reverse: Not one but two aircraft disasters

Malaysia Airlines Flight 17 shot down over the Ukrainian-Russian border

On July 17, midway a flight from Amsterdam to Malaysia, became a passenger plane shot down …

Read more Read more Flight 800 explodes over Long Island

Shortly after take-off from Kennedy International Airport in New York, a TWA Boeing 747 jetliner was launched …

Read more Read more [19659045] Neutral: Any chance that Musk is right?

Did you hurry to "invest" in a Tesla?


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