Tesla Energy , Shanghai Giga Factory and Model Y; Team Edison (Ford’s 12,000 Electric Stations with Volkswagen’s Electrify America and Amazon’s 35,000 HomeCharge Plugs); Voyage’s Robotaxis and Uber’s Works
Tesla has 880M dollars of deferred revenues and nearly 500M dollars to recognize going forward as additional upside.
Tesla is not a car company. not robotaxis.= it is Tesla Energy and Battery Storages
Tesla, is all set to launch its fleet of robotaxis by 2020. It will initially offer its Model 3 for the robotaxi service. Tesla is also planning to launch Tesla Network, which will allow owners to place their autonomous vehicles as robotaxis.
China’s Model 3 is their big target market. Note that China’s premium sedan sales in 2018 is 500,000 and Elon Musk is confident Chinese people want a Tesla 3
less capex/vehicle = higher gross margins.
extremely efficient capex in shanghai.
The Giga Factory in Shanghai was finished in 10 months. amazing cost controls.
371M dollars in Q3. free cash flows. hanep.
The bright spot was the battery deployments 477M dollars from prior 200M and almost 100M inexistent 3 years ago.. so the Batteries
the new place (energy revenue) — this is where the large growth will be. Delivering electricity not necessarily cars. 400 M dollars here so headed in the right direction
6.3B dollar revs, 200M income, the surprise of the quarter was gross margin. (so average car sold was 75K USd for 80,000 cars)
18.9% gross margin.
they restructured and opex went down to 928M dollars despite delivering more cars so good cost management then.
Watch this too: https://www.youtube.com/watch?v=zMcnhirmcl4
*****
Model Y is ahead of schedule, production beginning in summer 2020
Shanghai Production — efficient
Gross Margins Sequentially Better, GAAP margins Sequentially Better
Emphasis on the Shanghai Factory
China is the world’s largest automarket. China is also the largest EV market. If tesla can launch very well in China, Tesla expects 360,000 deliveries this year.
(15% of Sales come from China with products 20–30% more expensive due to tariffs)
Tesla is making money on solar leasing. the solar roof is also making them profitable. No one time items.
key takeaway: Tesla isn’t selling cars
That’s too misguided
Tesla is an energy company
They are selling energy batteries
So that anyone can collect electricity from the sun and put it in the battery
And Just have solar power
Or electricity for their Tesla cars (or whatever car for this matter)
Given being an electric power company
Is more profitable than just selling cars
Tesla Arcade is pulling the company’s secret video game features out of the shadows and bringing them front and center, starting today. Tesla Arcade is a new video game hub found across its line of electric cars. Earlier this afternoon, Tesla brought a Model 3 to downtown San Francisco to let The Verge try out Arcade and its newest title, developer Vector Unit’s Beach Buggy Racing 2.
- ****(Which are the energy companies we know?) —> All the energy names these days are single digit ratios and provid 5–6% yields which make value investors also look at them.
Exxon Mobil (XOM)294B dollars 5% yield, 17X forward
Chevron (CVX) 224B dollars 4% yield, 16X forward
British Petroleum (BP) 133B dollars , 6% yield. 10X forward
Royal Dutch Shell (RDS) — 237B dollars, 6% yield, 10X forward ratio
(Checking other automakers)
Ford+Volkswagen+Amazon (Team Edison) to build 12,000 Electric Stations and 35,000 Home Charge plugs — Eliminating the Range Anxiety
- ) Ford Motor Co (F.N) said on Thursday it was teaming up with Volkswagen AG (VOWG_p.DE) and Amazon.com (AMZN.O) to give its future electric car customers a range of charging options from highways to homes.
2.) Ford doesn’t currently offer any electric vehicles, but it announced Thursday that, once it does, it will offer the largest North American network of electric vehicle chargers of any automaker — including Tesla.
3.) Unlike Tesla, though, Ford didn’t build this charging network on its own. Working with EV charging companies Greenlots and Electrify America, Ford has created what it calls the FordPass Charging Network. When needed, users will be directed to one of the network’s chargers using an app or in the vehicle’s central touch screen.
4.) While Tesla’s chargers can only be used by Tesla (TSLA) cars, the chargers in the FordPass network will work with most other electric cars. Unlike Tesla’s chargers, which are all run and operated by Tesla, the chargers in the FordPass network will be operated by different companies. The charging network will include fast chargers that can rapidly juice up a vehicle’s battery to about 80% in about 40 minutes, in some cases. While the chargers themselves will work with many different cars, only Ford drivers will be able to use the FordPass app.
5.) Greenlots, a subsidiary of Shell, operates the software behind the app.
Ford: No 2 US carmaker has laid out plans to invest more than $11 billion in electric vehicles and is targeting majority of its sales from them by 2022.
Re Ford ( https://finance.yahoo.com/news/edited-transcript-f-earnings-conference-210309619.html)
American car is going by way of the dinosaur.
Now the only car that Ford will be selling in the near future will be the Mustang, Ford announced in April. It’s not that the Mustang is a bad car, but it’s significant that it’s the only car Ford will sell. Good-bye Focus, Fusion, Taurus and Fiesta.
Goodbye to sedans
****Voyage- Self Driving Robotaxis
- Autonomous ride-sharing startup Voyage has raised about $31 million in the Series B round, according to its press release. Franklin Templeton led the round, followed by Khosla Ventures, InMotion Ventures (Jaguar Land Rover’s venture capital fund), and Chevron Technology Ventures, Chevron’s (CVX) venture capital arm. This round brings Voyage’s total funding to $52 million to date. The company plans to use the funds to expand its fleet size and team.
- Voyage’s robotaxi foray
Voyage, which started its journey in 2017, aims at providing a robotaxi service to commuters. Currently, it’s operating in retirement zones in California and Florida. It has a multiyear exclusive license to operate self-driving ride-sharing vehicles in The Villages in Florida. The Villages is the largest retirement community in the world. It’s spread over 32 square miles and is home to about 78 villages housing around 100–1,550 homes. - Autonomous ride-sharing startup Voyage has raised about $31 million in the Series B round, according to its press release. Franklin Templeton led the round, followed by Khosla Ventures, InMotion Ventures (Jaguar Land Rover’s venture capital fund), and Chevron Technology Ventures, Chevron’s (CVX) venture capital arm. This round brings Voyage’s total funding to $52 million to date. The company plans to use the funds to expand its fleet size and team.
Voyage is doing well. They did the right thing. Bring grandpa and grandma where they need to be.
****
Most Self Driving Cars Has NVDA inside.
- **Uber
57B dollar marketcap, red ink losses
Uber is trying to figure things out
Because they know ride hailing won’t make them profitable
So they need to diversify thru
Uber works
Uber taxis
Uber freight trucks
Uber eats
Uber kitchens
******
Ghost kitchens and Uber Works and Uber Freights
A ghost kitchen is essentially a commissary for any chef who pays rental to Uber every month instead of spending a million on opening her own restaurant. And everything she sells is only thru Uber eats
A ghost kitchen is a professional kitchen set up for the preparation of delivery-only meals. Also known as a commissary kitchen, dark kitchen, or cloud kitchen, a ghost kitchen contains the kitchen equipment and facilities needed for the preparation of restaurant meals but has no dining area for walk-in customers.
Uber is following a major trend. The global workforce has been shifting away from “permanence” toward short-term, temporary positions. This has led venture capitalists to back countless platforms that are catering to this new mobile, smartphone-toting workforce, such as Deputy, which helps companies manage their hourly paid workers; Shiftgig, which connect employers with short-term workers; and Jitjatjo, which matches service and hospitality businesses with temps.
Uber Works
https://www.bbc.com/news/amp/business-49917762
It had been rumored for a while, but Uber officially confirmed today that it is expanding beyond on-demand transport and into on-demand staffing for the recruitment industry.
The move represents a natural evolution both for Uber and the modern day workforce, which has pushed steadily toward temporary, part-time, and shift-based employment
Uber Works is far from the first online platform to match gig workers with temporary work. Platforms such as Fiverr, TaskRabbit and Mechanical Turk provide comparable services, with the latter owned by Amazon and geared towards jobs involving s0-called ‘human intelligence tasks.’
The project, called ‘Uber Works,’ is set to launch in Chicago on Friday. The firm has quietly worked on the project for the past year in the Windy City.
In a blog post on its website, Uber explained that it has partnered with local businesses in Chicago to offer would-be workers roles in six job categories: back-of-house, front-of-house, warehouse, cleaning, customer service and general labor. Jobs taken might include bartending, assembly-line work, or prep cooking.
- ) Not everybody wants to drive a car around all day, and not everybody wants to be driven around — but everyone needs a job, and every company needs people working for them. By expanding into the wider workforce, Uber has a much bigger pool of people to monetize, which can only work wonders for its bottom line.
- On Uber works -> staffing and recruitment industry in the U.S. alone is a $153 billion industry, significantly more than the ride-hail industry.
- Uber wants to be the blue collar work app.The ultimate gig economy app
- Uber already claims around 4 million drivers globally, and it doesn’t take a great deal of imagination to see how Uber could leverage its existing shift-working user base in the future. “Finished your shift moonlighting as a driver? Get a few hours sleep, and then begin your day shift as a waiter!,” is one possible scenario here.
5.) Blue collar
Similar to its core ride-hail service, Uber is quick to point out, Uber Works merely provides a platform for recruiters to find workers. Uber doesn’t want to be seen as the recruiter itself. Indeed, the company has partnered with staffing agencies such as TrueBlue, which take care of all the recruitment side of things — this includes managing pay and benefits. Similarly, Uber is also partnering with a number of education and training companies to “deliver services that support skill up-leveling and promote work re-entry,” according to the company, similar to what some of the Uber drivers receive.
TrueBlue is best known as an agency focused on the on-demand, temporary “blue collar” workforce, and as such that is exactly who Uber is targeting through its new app: laborers, warehouse workers, cooks, cleaners, customer service staff, waiters, bartenders, and more. Shift-workers, in other words.
Sidenote: Billions Creator will make an Uber TV show
Pivoting on Travis Kalanick, Uber’s hard-charging CEO who was ultimately ousted in a boardroom coup, the Showtime limited series will depict the roller-coaster ride of the upstart transportation company, embodying the highs and lows of Silicon Valley
(Secret and Not So Secret Caveat: Alphabet has a secret weapon
Alphabet owns Waymo which owns Waze which owns several driverless cars
In fact waymo is more advanced than any self driving cars out there)
***More news
Free is great → HBO Max with T Mobile; Disney with Verizon
Verizon is offering its customers a free year of Disney’s upcoming streaming service, Disney Plus. … The offer is available to new and existing Verizon Wireless customers, new Fios Home Internet customers, and new 5G Home Internet customers. Disney Plus launches on November 12 for $6.99 a month or $69.99 a year.
50% off is desperate ->Apple at 4.99/month
No discounts is “I’m not cheap. Pay for my value” -> Netflix
- So the real loser is television sets
- Netflix will have 130 seasons of non English language shows next year
Intended for the international market - They intend to serve the 190 countries, Not just USA
