马斯克描绘的新全球战略车型构想是售价2.5万美元的Model 2，突然传出停止开发的消息，背后原因是中国车企的价格竞争力超出预期，利用全球供应链 并象征着自由贸易红利的"全球战略车型"正在消失…… 封面来源｜unsplash 利用全球供应链并象征着自由贸易红利的"全球战略车型"正在消失。美国纯电动汽车（EV）巨头特斯拉已停止开发低价的全球战略车型。"碎片化"世界 正逐渐成为常态，这样的世界不存在引领创新和规则制定的主导权。汽车厂商正被迫重新构建商业模式。 特斯拉"Model 2"夭折 "我们希望把合同延长5年左右"。 进入2025年，与特斯拉存在业务往来关系的美国零部件厂商的高管开始收到特斯拉这样的要求。2020年上市的全球战略车型"Model Y"面临新的全面改 款，但特斯拉似乎已经决定短期内继续销售。 对于特斯拉首席执行官（CEO）埃隆·马斯克而言，这并不是一个积极的决定。特斯拉成立于2003年，之前一直保持稳步增长。原动力是Model Y。该车型 在中国的上海工厂以低成本实现大规模生产，截至2024年，一直稳居全球纯电动汽车销量第一。 作为Model Y的后续车型，马斯克描绘的新全球战略车型构想是售价2 ...

以下文章来源于日经中文网 ，作者日经中文网 日经中文网 . 编制日经指数的《日本经济新闻》的中文版。提供日本、中国、欧美财经金融信息、商务、企业、高科技报道、评论和专栏。 马斯克描绘的新全球战略车型构想是售价2.5万美元的Model 2，突然传出停止开发的消息，背后原因是中国车企的价格竞争力超出预期，利用全球供应链并象征着 自由贸易红利的"全球战略车型"正在消失…… 来源｜ 日经中文网（ID：rijingzhongwenwang） 封面来源 ｜ unsplash 利用全球供应链并象征着自由贸易红利的"全球战略车型"正在消失。美国纯电动汽车（EV）巨头特斯拉已停止开发低价的全球战略车型。"碎片化"世界 正逐渐成为常态，这样的世界不存在引领创新和规则制定的主导权。汽车厂商正被迫重新构建商业模式。 "我们希望把合同延长5年左右"。 进入2025年，与特斯拉存在业务往来关系的美国零部件厂商的高管开始收到特斯拉这样的要求。2020年上市的全球战略车型"Model Y"面临新的全面改 款，但特斯拉似乎已经决定短期内继续销售。 对于特斯拉首席执行官（CEO）埃隆·马斯克而言，这并不是一个积极的决定。特斯拉成立于2003年， ...

Core Viewpoint - Tesla has halted the development of its low-cost global strategic model, the Model 2, due to unexpected price competition from Chinese automakers, indicating a shift away from the concept of a unified global vehicle model [1][5]. Group 1: Tesla's Strategic Shift - Tesla's CEO Elon Musk initially envisioned the Model 2 as a $25,000 electric vehicle (EV) to compete with rising Chinese competitors [5]. - The company has decided to extend the lifecycle of the Model Y, which has been a significant revenue driver, while reassessing its new vehicle development strategy [7][8]. - Tesla's reliance on a global supply chain has been impacted by high tariffs and protectionist policies, which have inadvertently strengthened Chinese companies [7]. Group 2: Competitive Landscape - Chinese automaker BYD is projected to become the world's top EV seller in 2025, with Xiaomi entering the market and offering a vehicle priced lower than the Model Y while providing better range [6]. - The competitive advantage of Chinese companies lies in their ability to control the EV supply chain domestically, which has been bolstered by U.S. tariffs [7]. - The global automotive market is experiencing fragmentation, with a decline in the market share of the top-selling models, indicating a shift in consumer preferences and regulatory environments [8][9]. Group 3: Industry Trends - The automotive industry is moving towards fragmentation, with companies needing to adapt their strategies to local markets rather than relying on a single global model [9]. - The demand for EVs is expected to grow in the long term, but manufacturers must navigate varying environmental regulations across different regions [8]. - Ford is responding to the competitive pressure from Chinese EVs by collaborating with Renault to develop low-cost EVs for the European market while also increasing investments in hybrid and gasoline vehicles in North America [8].

Core Viewpoint - Tesla has halted the development of its low-cost global strategic model, the Model 2, due to unexpected price competition from Chinese automakers, indicating a shift away from the concept of a unified global vehicle model in favor of localized strategies [2][6][12]. Group 1: Tesla's Strategic Shift - Tesla's CEO Elon Musk initially envisioned the Model 2 as a $25,000 electric vehicle (EV) to compete with rising Chinese competitors, but has now acknowledged the project's cessation, stating that owning such a vehicle is meaningless [6][11]. - The company plans to extend the lifecycle of the Model Y, which has been a significant driver of sales, while re-evaluating its new vehicle development direction [11][12]. - Tesla's reliance on a global supply chain has been challenged by rising tariffs and protectionist policies, which have inadvertently strengthened the position of Chinese manufacturers [7][12]. Group 2: Competitive Landscape - Chinese automaker BYD is projected to become the world's top EV seller by 2025, with Xiaomi entering the market and offering competitive pricing and superior range compared to Tesla's Model Y [7][9]. - The competitive advantage of Chinese companies lies in their ability to control the EV supply chain domestically, allowing them to offer better price-performance ratios [7][12]. - The automotive industry is experiencing fragmentation, with a decline in the market share of the top-selling models, indicating a shift towards more localized and diverse vehicle offerings [12][13]. Group 3: Industry Trends - The automotive sector is moving towards a fragmented model, where companies must adapt to varying regulations and consumer preferences across different regions [13]. - The trend of global strategic vehicles is diminishing, as manufacturers are increasingly required to develop multiple powertrain options to meet diverse market demands [12][13]. - The ongoing transition to EVs is being influenced by geopolitical factors, with companies like Ford navigating complex market dynamics by balancing investments in both EVs and traditional vehicles [12].

Core Viewpoint - Tesla's recent quarterly report showed mediocre results, but CEO Elon Musk successfully turned the narrative around during the earnings call by emphasizing performance guidance and the upcoming Model 2, leading to a significant stock price increase [5][22]. Group 1: Tesla's Shift in Focus - Since 2022, Musk has been actively redefining Tesla's identity from merely an "automaker" to a company focused on "artificial intelligence," frequently mentioning AI in earnings calls [5][9]. - The frequency of AI-related terms in earnings calls has surged, with Musk mentioning "AI" 28 times in a single call, indicating a strategic pivot towards AI and software [6][9]. - Musk's vision for Tesla includes a transformation strategy that leverages the strengths of the U.S. industry to rebuild Tesla's competitive edge [10]. Group 2: Shanghai Factory's Impact - The Shanghai Gigafactory, Tesla's first overseas plant, achieved remarkable efficiency, completing construction and production in the same year, which significantly boosted Tesla's production capacity [12]. - By 2020, the Shanghai factory accounted for 14.9 million vehicles delivered, representing 29.8% of Tesla's total production capacity, a figure that has since never dropped below 50% [12]. - The factory's efficiency has been a critical factor in Tesla's success, contrasting with the slower ramp-up of its factories in Fremont and Berlin [15]. Group 3: Competitive Landscape and Supply Chain - The Chinese electric vehicle (EV) market has seen rapid growth, with 278 out of 398 vehicle manufacturers having established new energy production lines by the end of 2023 [15]. - The production capabilities of Chinese manufacturers are often mischaracterized as merely low-cost advantages; instead, they reflect a complex and evolving supply chain that has adapted to the demands of electric vehicles [15][20]. - The local supply chain's responsiveness and strength are crucial for the automotive industry, as seen in the case of Fuyao Glass, which built a factory in the U.S. to be close to assembly plants [16]. Group 4: Tesla's Valuation and Market Perception - Tesla's market valuation has reached approximately $1.4 trillion, accounting for nearly half of the global automotive manufacturing market, surpassing the combined market cap of 29 other automakers [22]. - The capital market has gradually accepted Tesla as not just an automaker but also a software and AI company, with analysts like Cathie Wood proposing that Tesla operates as a "Mobility as a Service" (MaaS) company [25][26]. - The company's focus on AI and software is seen as a necessary shift, as its manufacturing capabilities alone are no longer sufficient to maintain a competitive advantage [29]. Group 5: Future Prospects and Innovations - Tesla's ambitious plans include the development of the 4680 battery and a $25,000 vehicle, which are critical for reducing costs and expanding market reach [29][32]. - The introduction of AI-driven technologies and the potential for robotaxi services are central to Tesla's future strategy, aiming to create a comprehensive AI ecosystem [34][37]. - The establishment of xAI and its data centers is expected to enhance Tesla's AI capabilities, further solidifying its position in the market [36][39].

Group 1 - Tesla's board chairman, Robyn Denholm, confirmed that several new vehicles are set to be launched, sparking renewed interest in Tesla's vehicle plans [1] - The recently launched "standard versions" of Model 3 and Model Y, which have simplified features compared to the "premium versions," may be part of the new vehicle lineup [1] Group 2 - The highly anticipated entry-level model, referred to as "Model 2," is expected to be priced around $25,000, targeting consumers who cannot afford Tesla's higher-end models [3] - There is speculation regarding the timing of the Model 2 release, especially after the recent launch of the standard versions of Model 3 and Model Y [3] - Tesla's "Cybercab" project, aimed at the same price range as Model 2, may progress faster due to the company's focus on autonomous driving technology [3] Group 3 - There is significant demand for a full-size SUV from Tesla to compete with models like the Ford Expedition and Chevrolet Tahoe, as the current Model X does not meet the needs for larger capacity and storage [4] - A recent promotional video hinted at the development of a "Cyber SUV," and Tesla's chief designer has indicated that the company is considering launching a Cyber-style SUV or a more traditional small electric pickup [4]

Core Insights - Tesla reported mixed results for Q3, with revenue of $28.1 billion, a 12% year-over-year increase, and deliveries of 497,000 vehicles, up 7.4%, both hitting historical highs. However, net profit fell to $1.37 billion, a 37% decline year-over-year, and adjusted net profit dropped 29%, significantly below market expectations [1][17] - The company is facing challenges with its pricing strategy, as it has resorted to price cuts to boost sales, which has led to a decline in vehicle margins and consumer perception of quality [3][6][9] Financial Performance - Q3 revenue reached $28.1 billion, a 12% increase from the previous year, while net profit was $1.37 billion, down 37% year-over-year [1] - The average selling price of Tesla vehicles decreased from approximately $55,000 in 2022 to $41,800 in Q3 2023, reflecting a significant drop in vehicle margins [3][8] - The automotive gross margin fell to 15.4%, with per vehicle gross profit estimated at $6,400, a reduction of over 50% compared to previous years [8][9] Pricing Strategy - Tesla introduced lower-priced models, such as the Model Y Standard and Model 3 Standard, but faced criticism for reducing features, leading to negative consumer feedback [2][6] - The company has been using financial promotions and subsidies to manage inventory, but the effectiveness of these strategies is in question as consumer trust appears to be eroding [3][6] Innovation and Future Outlook - Tesla's future growth narrative relies heavily on advancements in autonomous driving, robotics, and AI, with Musk emphasizing these areas during earnings calls [10][15] - Despite the focus on new technologies, the company has faced delays in the rollout of its robotics business, with significant technical challenges reported [13][15] - The energy generation and storage business saw a 44% revenue increase to $3.42 billion, but this segment remains a small part of Tesla's overall business [15] Leadership and Governance - A new ten-year compensation plan for Musk has sparked controversy, with critics arguing that it is excessive and questioning Musk's focus on Tesla amid his other ventures [17][18] - Musk's potential departure raises concerns about Tesla's future direction, as he has shown more interest in AI and robotics than in traditional automotive operations [19][20]

Core Insights - Tesla Inc. is considering a fundamental design change for the upcoming Cybercab, potentially including traditional vehicle controls like a steering wheel and pedals [2][3]. Group 1: Design Changes - Tesla's Board Chair Robyn Denholm indicated that the Cybercab could feature a steering wheel and pedals if necessary, suggesting flexibility in its design [2]. - The Cybercab may serve as Tesla's Model 2, positioned as a more affordable option below the Model 3 in the company's electric vehicle lineup [2]. Group 2: Market Reactions - Ross Gerber, co-founder of Gerber Kawasaki, previously suggested adding a steering wheel and pedals to the Cybercab to enhance its marketability as an affordable model [3]. - Following Denholm's comments, Gerber expressed optimism on social media, indicating that Tesla is aligning with market realities to ensure the Cybercab's success [4]. Group 3: Testing and Development - The Cybercab has been observed undergoing testing at Tesla's Gigafactory in Texas and the Fremont facility, indicating progress in its development [5]. Group 4: Robotaxi Updates - CEO Elon Musk mentioned during a recent earnings call that Tesla aims to deploy driverless Robotaxis in 8-10 major U.S. cities by the end of the year, revising earlier expectations of broader service coverage [6]. Group 5: Performance Metrics - Tesla is noted for strong momentum and quality metrics, satisfactory growth, but poor value, with a favorable price trend across short, medium, and long-term perspectives [7].

Core Viewpoint - The investment strategy focuses on a balanced portfolio between low-cost funds and individual stocks, emphasizing long-term holding and understanding market dynamics beyond mere financial metrics [1] Investment Strategy - The portfolio is approximately 50% in low-cost funds and 50% in single stocks, reflecting a balanced investment approach [1] - The investment philosophy prioritizes holding stocks for at least 10 years, avoiding market timing [1] Market Understanding - The market is viewed as a meeting point of demand and supply, with a focus on predicting human behavior rather than solely relying on financial ratios like P/E [1] - There is an emphasis on understanding what the market perceives in a stock beyond numerical data, which includes analyzing sectors, industries, and long-term growth trends [1] Current Investment Outlook - The company is currently bullish on specific stocks including AMD, PLTR, TSLA, as well as broad US equities and Bitcoin [1]

Tesla could sure use a Model 2 right about now https://t.co/L86AZLkrls ...