Tesla’s Free Cash Flow Is Still Resoundingly Negative

Stanphyl Capital’s commentary for the month ended March 31, 2022, discussing their brief place in Tesla Inc (NASDAQ:TSLA).

We stay brief the most important bubble in fashionable inventory market historical past, Tesla Inc. (TSLA) which, regardless of a steadily sliding share of the world’s EV market and a share of the general auto market that’s solely round 1.5%, Trevor Scott points out has a market cap roughly equal to the following 20 largest automakers mixed:

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So right here’s why we stay brief Tesla:

• Tesla has no “moat” of any form; i.e., nothing meaningfully proprietary by way of its electrical automobile know-how (which has now been surpassed by quite a few rivals), whereas current automakers—not like Tesla­—have a decades-long “expertise moat” of understanding the right way to mass-produce, distribute and repair high-quality automobiles constantly and profitably.
• Excluding working capital advantages and sunsetting emission credit score gross sales Tesla generates unfavorable free money circulate.
• Progress in sequential unit demand for Tesla’s automobiles is at a crawl relative to expectations.
• Elon Musk is a pathological liar who under the terms of his SEC settlement cannot deny having committed securities fraud.

Tesla’s Q1 Deliveries

Tesla’s Q1 2022 supply quantity (to be reported in early April) will possible solely be barely higher than This autumn 2022’s 308,000, maybe a 20,000 (or fewer) unit achieve that might be a rounding error for an auto firm buying and selling at even one-tenth of Tesla’s valuation. If in any quarter GM or VW or Toyota offered 2.02 million autos as a substitute of two million or 1.98 million, nobody would pay the slightest little bit of consideration to the distinction. Seeing as Tesla remains to be being valued at over seventeen GMs, it’s time to begin taking a look at its comparatively tiny numerical sequential gross sales development, somewhat than Wall Road’s sell-side hype of “share off a small base.” In different phrases, if you wish to be valued at a large a number of of “the massive boys,” you have to be handled as an enormous boy. And sure, Tesla is considerably capability constrained, however so are all its rivals. Let’s see how rapidly “constraint” morphs into “extra capability” when the German and Texas factories are totally on-line!

In the meantime in January Tesla reported outcomes for Q4 2021 and as soon as once more proved that it’s a actually horrible enterprise. Though the corporate claimed to have generated $2.Eight billion in free money circulate for the quarter, that was virtually solely created by massively elevated payables & accrued liabilities, and by stock-based compensation. After adjusting for these elements (and a tiny improve in receivables), Tesla’s free money circulate was simply $119 million, and that undoubtedly included a number of hundred million {dollars} of beforehand earned & billed emission credit score gross sales, a income stream which is able to virtually solely disappear subsequent yr as different automakers start promoting sufficient electrical automobiles of their very own. Thus, regardless of all of the sell-side and media hype, on a sustainable foundation Tesla’s free money circulate remains to be resoundingly unfavorable.

An Vitality Firm

And for these of you who suppose that Tesla is “actually an vitality firm,” in This autumn “Tesla Vitality” had income of $688 million (down 8.5% year-over-year and eight% sequentially) and value of income of $739 million, that means it had a unfavorable gross margin. So if Tesla is “actually an vitality firm,” it’s much more screwed than if it’s only a automobile firm!

In the meantime, maybe the most important cause Tesla has not too long ago been capable of publish marginally growing sequential quarterly deliveries is as a result of rivals’ manufacturing is on the lowest stage in many years due to the massive chip shortage, thereby eliminating various “Tesla options.” But Tesla is having fun with file manufacturing as a result of Musk (a infamous “corner-cutter”) is outwardly prepared to both substitute untested, non-auto-grade chips for the extra sturdy chips he can’t get (please see my Twitter post about this) or just remove whole essential security methods corresponding to back-up steering and crash-avoidance radar.

In the meantime, many Tesla bulls sincerely consider that ten years from now the corporate can be twice the dimensions of Volkswagen or Toyota, thereby promoting round 20 million automobiles a yr (up from the present run-rate of round 1.three million); in actual fact in March Musk himself even raised this as a possibility. For instance how completely absurd that is, going from 1.three million automobiles a yr at present to 20 million in ten years implies that along with a million automobiles a yr of eventual manufacturing from the brand new German and Texas factories, Tesla must add 35 extra model new 500,000 automobile/yr factories with offered out manufacturing; i.e., a brand new manufacturing facility practically each single quarter for ten years! And what then? Properly, then you definitely’d have a automobile firm roughly twice the dimensions of Toyota (present market cap: $249 billion) or Volkswagen (present market cap: $110 billion). If that might make Tesla value, say, $500 billion in 10 years, discounting that again at 15%/yr and permitting for sufficient share dilution to pay for all these factories, Tesla—in that absurdly optimistic situation—could be value simply $100/share at present, down virtually 93% from its present worth.

One other favourite hype story from Tesla bulls has been “the China market.” However primarily based on the Chinese language home (non-export) gross sales numbers we have now for January and February it seems that Q1 2022 gross sales there barely grew (or could have even contracted)  from This autumn 2021’s. And in This autumn Tesla had solely round 1.5% of the general Chinese language passenger car market and simply 11% of the BEV market.

In the meantime,  as Tesla continues to promote its fraudulent & harmful so-called “Full Self Driving” the pinnacle of that program just took a four-month sabbatical; the final main Tesla govt who did that (Doug Area) never returned. In a sane regulatory setting Tesla, having offered this rubbish software program for over 5 years now…

…could be prosecuted for “client fraud,” and certainly the regulatory tide could lastly be turning, as two U.S. senators continue to question its safety and in October the NHTSA appointed a harsh critic of this lethal product to advise on its regulation. (For all identified Tesla deaths see here.) Are main write-downs and refunds on the way in which, killing the corporate’s slight “claimed profitability”? Keep tuned!

In the meantime, Guidehouse Insights continues to fee Tesla lifeless final amongst autonomous rivals:

One other favourite Tesla hype story has been constructed round so-called “proprietary battery know-how.” The truth is although, Tesla has nothing proprietary there—it doesn’t make them, it buys them from Panasonic, CATL and LG, and it’s the biggest liar in the industry concerning the real-world vary of its automobiles. And if new-format 4680 cells enter the market a while in 2024 (as is now expected), even when Tesla makes a few of its personal,  other manufacturers will gladly sell them to anyone.

Construct High quality

In the meantime, Tesla construct high quality stays terrible (it ranks second-to-last in the latest Consumer Reports reliability survey) whereas the latest survey from British client group Which? discovered it to be one of many least dependable automobiles in existence. And Tesla’s worst-rated Model Y faces present (or imminent) competitors from the a lot better constructed electrical Audi Q4 e-tron, BMW iX3, Mercedes EQB, Volvo XC40 Recharge, Volkswagen ID.4, Ford Mustang Mach E, Nissan Ariya, Hyundai Ioniq 5 and Kia EV6. And Tesla’s Mannequin three now has terrific direct “sedan competitors” from Volvo’s beautiful Polestar 2, the great new BMW i4 and the premium model of Volkswagen’s ID.3 (in Europe), plus a number of native rivals in China.

And within the high-end electrical automobile section worldwide the Audi e-tron (substantially improved for 2022!) and Porsche Taycan outsell the Fashions S & X (and the newly up to date Tesla fashions with their dated exteriors and idiotic shifters & steering wheels gained’t change this), whereas the spectacular new Mercedes EQS, Audi e-Tron GT and Lucid Air make the Tesla Mannequin S seem like a quick Yugo, whereas the extremely well reviewed new BMW iX does the identical to the Mannequin X.

And oh, the joke of a “pickup truck” Tesla previewed in 2019 (and nonetheless hasn’t proven in production-ready type) gained’t be a lot of “development engine” both, as it is going to enter a dogfight of a market; in actual fact, Ford’s terrific 2022 all-electric F-150 Lightning now has over 200,000 retail reservations (plus many extra fleet reservations), GM has launched its improbable 2023 electric Silverado with over 110,000 reservations and Rivian’s pick-up has gotten excellent early reviews.

Concerning security, as famous earlier on this letter, Tesla continues to deceptively sell its hugely dangerous so-called “Autopilot” system, which Client Reviews has completely eviscerated; God solely is aware of what number of more people this monstrosity unleashed on public roads will kill regardless of the NTSB condemning it. Elsewhere in security, the Chinese language authorities forced the recall of tens of 1000’s of Teslas for a harmful suspension defect the corporate spent years trying to cover up, and now Tesla has been hit by a class-action lawsuit in the U.S. for a similar defect. Tesla additionally knowingly sold cars that it knew were a fire hazard and did the same with solar systems, and after initially refusing to take action voluntarily, it was compelled to recall a dangerously defective touchscreen. In different phrases, with regards to the protection of shoppers and harmless bystanders, Tesla is actually one of the vital vile firms on Earth. In the meantime the massive number of lawsuits of all sorts towards the corporate continues to escalate.

So right here is Tesla’s competitors in automobiles…

(word: these hyperlinks are recurrently up to date)

• Porsche Taycan
• Porsche Taycan Cross Turismo
• Porsche Macan Electric SUV Officially Coming in 2023
• Volkswagen ID.3
• Volkswagen ID.4 Electric SUV
• Volkswagen unveils ID.6 SUV EV in China
• Volkswagen ID.Buzz electric van
• Volkswagen ID Vizzion confirmed – answer to the Tesla Model 3
• VW’s Cupra brand counts on performance for Born EV
• Cupra, VW brand to get entry-level battery-powered cars
• Volkswagen unveils $7.1B commitment to boost product line-up, R&D, mfg in N. America
• Audi e-tron
• Audi e-tron Sportback
• Audi E-tron GT
• Audi Q4 e-tron
• Audi Q6 e-tron confirmed for 2022 launch
• 2022 Audi A6 e-tron set to take on Tesla
• Audi will expand EV lineup with electric A6 wagon
• Audi TT to be axed in 2023 for ’emotional’, electric replacement
• Hyundai Ioniq 5
• Hyundai Ioniq 6 Will Be a Slick-Looking EV Sedan
• Hyundai Kona Electric
• Genesis reveals their first EV on the E-GMP platform, the electric GV60 crossover
• Genesis Electrified GV70 Revealed With 483 Horsepower And AWD
• Kia Niro Electric: 239-mile range & $39,000 before subsidies
• Kia EV6: Charging towards the future
• Kia EV4 on course to grow electric SUV range
• Jaguar’s All-Electric i-Pace
• Jaguar to become all-electric brand; Land Rover to Get 6 electric models
• Daimler will invest more than $47B in EVs and be all-electric ready by 2030
• Mercedes EQS: the first electric vehicle in the luxury class
• 2023 Mercedes-Benz EQS SUV Interior Unveiled With Up To Seven Seats
• Mercedes-Benz unveils EQE electric sedan with impressive 400-mile range
• Mercedes EQE SUV to rival BMW iX and Tesla Model X
• Mercedes EQC electric SUV available now in Europe & China
• Mercedes-Benz Launches the EQV, its First Fully-Electric Passenger Van
• Mercedes-Benz EQB Makes Its European Debut, US Sales Confirmed
• Mercedes-Benz unveils EQA electric SUV with 265 miles of range and ~$46,000 price
• Ford Mustang Mach-E Available Now
• Ford F-150 Lightning electric pick-up available 2022
• Ford set to launch ‘mini Mustang Mach-E’ electric SUV in 2023
• Ford to launch 7 EVs in Europe in big electric push
• Ford’s Lincoln brand to launch full slate of electric SUVs by 2026
• Volvo Polestar 2
• Polestar 3 will hit U.S. market in Q1 2023
• Volvo XC40 Recharge
• Volvo C40 electric sedan to challenge Tesla Model 3, VW ID3
• Polestar 3 will be an electric SUV that shares its all-new platform with next Volvo XC90
• Chevrolet Bolt sedan, 259-mile range starting at $31,000
• Chevrolet Bolt EUV electric crossover
• Cadillac All-Electric Lyriq Available Spring 2022
• GMC 2022 ALL-ELECTRIC SUPERTRUCK HUMMER EV
• GM’s 2023 electric Silverado pickup truck
• GMC to launch electric Hummer SUV in 2023
• GM announces electric versions of the 2023 Chevy Equinox & Blazer SUVs starting @ $30,000
• GM Launches BrightDrop to Electrify the Delivery of Goods and Services
• BMW leads off EV offensive with iX3
• BMW expands EV offerings with iX tech flagship and i4 sedan
• BMW i7 EV, with 600 hp, will be most powerful variant of new 7 Series flagship
• 2022 BMW iX1 electric SUV spied
• Renault-Nissan alliance plows $26B into EV blitz- will jointly launch 35 new EVs
• Nissan vows to hop back on EV podium with Ariya
• Nissan LEAF e+ with 226-mile range is available now
• Nissan Unveils $18 Billion Electric-Vehicle Strategy
• Renault upgrades Zoe electric car as competition intensifies
• Renault Dacia Spring Electric SUV
• Renault to boost low-volume Alpine brand with 3 EVs
• Renault’s electric Megane will debut new digital cockpit
• Stellantis promises ‘heart-of-the-market SUV’ from new, 8-vehicle EV platform
• Chrysler to go all-EV by 2028
• Alfa Romeo’s First Electric Car Will Arrive in 2024
• Peugeot e-208
• PEUGEOT E-2008: THE ELECTRIC AND VERSATILE SUV
• Peugeot 308 will get full-electric version
• Subaru shows off its first electric vehicle, the Solterra SUV
• Citroen compact EV challenges VW ID3 on price
• Rivian R1T Is the Most Remarkable Pickup We’ve Ever Driven
• Maserati going fully electric by 2030 -all vehicles will offer a BEV version by 2025
• Mini Cooper SE Electric
• Toyota’s Electric bZ4X Goes On Sale in Spring 2022
• Toyota will have lineup of 30 full EVs by 2030; Lexus will be all-electric brand
• Honda and Sony to build, sell EVs by 2025
• Opel sees electric Corsa as key EV entry
• 2021 Vauxhall Mokka revealed as EV with sharp looks, massive changes
• Skoda Enyaq iV electric SUV offers range of power, battery sizes
• Electric Skoda Enyaq coupe to muscle-in on Tesla Model 3
• Skoda plans small EV, cheaper variants to take on French, Korean rivals
• Nio to launch in five more European countries after Norway
• BYD will launch electric SUV in Europe
• The Lucid Air Achieves an Estimated EPA Range of 517 Miles on a Single Charge
• Bentley will start output of first full EV in 2025
• All-electric Rolls-Royce Spectre to launch in 2023 – firm to be EV-only by 2030
• Aston Martin will build electric vehicles in UK from 2025
• Meet the Canoo, a Subscription-Only EV Pod Coming in 2021
• Two new electric cars from Mahindra in India; Global Tesla rival e-car soon
• Former Saab factory gets new life building solar-powered Sono Sion electric cars
• Foxconn aims for 10% of electric car platform market by 2025

And in China…

• How VW Group plans to dominate China’s EV market
• VW Goes Head-to-Head With Tesla in China With New ID.4 Crozz Electric SUV
• Volkswagen’s ID.3 EV to be produced by JVs with SAIC, FAW in 2021
• 2022 VW ID.6 Revealed With Room For Seven And Two Electric Motors
• China-built Audi e-tron rolls off production line in Changchun
• Audi Q2L e-tron debuts at Auto Shanghai
• Audi will build Q4 e-tron in China
• Audi Q5 e-tron Confirmed For China
• Audi in cooperation company for local electric car production with FAW
• FAW Hongqi starts selling electric SUV with 400km range for $32,000
• FAW (Hongqi) to roll out 15 electric models by 2025
• BYD goes after market left open by Tesla with four cheaper models for budget-conscious buyers
• BYD said to launch premium NEV brand ‘Dolphin’ in 2022
• Top of Form
• Bottom of Form
• Daimler & BYD launch DENZA electric vehicle for the Chinese market
• Geely announces premium EV brand Zeekr
• Geely, Mercedes-Benz launch $780 million JV to make electric smart-branded cars
• Mercedes styled Denza X 7-seat electric SUV to hit market
• Mercedes ‘makes mark’ with China-built EQC
• BMW, Great Wall to build new China plant for electric cars
• BAIC Goes Electric, & Establishes Itself as a Force in China’s New Energy Vehicle Future
• BAIC BJEV, Magna ready to pour RMB2 bln in all-electric PV manufacturing JV
• Toyota partners with BYD to build affordable $30,000 electric car
• Ford MUSTANG MACH-E ROLLS OFF ASSEMBLY LINE IN CHINA FOR LOCAL CUSTOMERS
• Lexus to launch EV in China taking on VW and Tesla
• GAC Aion about to start volume production of 1,000-km range AION LX
• GAC Toyota to ramp up annual capacity by 400,000 NEVs
• GAC kicks off delivery of HYCAN 007 all-electric SUV
• Nio – Ready For Tomorrow
• Nio steps up plans for mass-market brand to compete with VW, Toyota
• Xpeng Motors sells multiple EV models
• SAIC-GM to build Ultium EV platform in Wuhan
• Chevrolet Menlo Electric Vehicle Launched in China
• Buick Introduces New VELITE 6 EV with Extended Range
• Buick Velite 7 EV And Velite 6 PHEV Launch In China
• Dongfeng launches the all-electric Voyah 
• PSA to accelerate rollout of electrified vehicles in China
• SAIC, Alibaba-backed EV brand IM begins presale of first model L7
• Hyundai Motor Transforming Chongqing Factory into Electric Vehicle Plant
• Polestar said to plan China showroom expansion to compete with Tesla
• Jaguar Land Rover’s Chinese arm invests £800m in EV production
• Renault reveals series urban e-SUV K-ZE for China
• Renault & Brilliance detail electric van lineup for China
• Renault forms China electric vehicle venture with JMCG
• Honda plans China EV plant to expand lineup
• GAC Honda launches pure electric car brand ‘e:NP’
• Geely launches new electric car brand ‘Geometry’ – will launch 10 EVs by 2025
• Geely, Foxconn form partnership to build cars for other automakers
• Fiat Chrysler, Foxconn Team Up for Electric Vehicles
• Baidu to create an intelligent EV company with automaker Geely
• Leapmotor starts presale of C11 electric SUV on Jan. 1 2021
• Changan forms subsidiary Avatar Technology to develop smart EVs with Huawei, CATL
• WM Motors/Weltmeister
• Chery
• Seres
• Enovate
• China’s cute Ora R1 electric hatch offers a huge range for less than US$9,000
• Singulato
• JAC Motors releases new product planning, including many NEVs
• Seat to make purely electric cars with JAC VW in China
• Iconiq Motors
• Hozon
• Aiways
• Skyworth Auto
• Youxia
• CHJ Automotive begins to accept orders of Leading Ideal ONE
• Infiniti to launch Chinese-built EV in 2022
• Human Horizons
• Chinese smartphone giant Xiaomi to launch electric car business with $10 billion investment
• Lifan Technology to roll out three EV models with swappable batteries in 2021

Right here’s Tesla’s competitors in autonomous driving…

• Waymo ranked top & Tesla last in Guidehouse leaderboard on automated driving systems
• Tesla has a self-driving strategy other companies abandoned years ago
• Fiat Chrysler, Waymo expand self-driving partnership for passenger, delivery vehicles
• Waymo and Lyft partner to scale self-driving robotaxi service in Phoenix
• Jaguar and Waymo announce an electric, fully autonomous car
• Renault, Nissan partner with Waymo for self-driving vehicles
• Geely’s Zeekr, Waymo partner on autonomous ride-hailing vehicle for the U.S. market
• Volvo, Waymo partner to build self-driving vehicles
• Volvo Cars’ unsupervised autonomous driving feature Ride Pilot to debut in California
• Cruise and GM Team Up with Microsoft to Commercialize Self-Driving Vehicles
• Cadillac Super Cruise™ Sets the Standard for Hands-Free Highway Driving
• Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle
• Honda launching Level 3 autonomous cars
• Volkswagen moves ahead with Autonomous Driving R&D for Mobility as a Service
• VW, Bosch partner to develop autonomous driving systems
• Volkswagen teams up with Microsoft to accelerate the development of automated driving
• VW taps Baidu’s Apollo platform to develop self-driving cars in China
• Ford “Blue Cruise”
• ARGO AI AND FORD TO LAUNCH SELF-DRIVING VEHICLES ON LYFT NETWORK
• Hyundai and Kia Invest in Aurora
• Toyota, Denso form robotaxi partnership with Aurora
• Aptiv and Hyundai Motor Group complete formation of autonomous driving joint venture
• Amazon’s Zoox unveils electric robotaxi that can travel up to 75 mph
• Nvidia and Mercedes Team Up to Make Next-Gen Vehicles
• Daimler’s heavy trucks start self-driving some of the way
• SoftBank, Toyota’s self-driving car venture adds Mazda, Suzuki, Subaru Corp, Isuzu Daihatsu 
• Continental & NVIDIA Partner to Enable Production of Artificial Intelligence Self-Driving Cars
• Mobileye and Geely to Offer Most Robust Driver Assistance Features
• Mobileye Starts Testing Self-Driving Vehicles in Germany
• Mobileye and NIO Partner to Bring Level 4 Autonomous Vehicles to Consumers
• Lucid Chooses Mobileye as Partner for Autonomous Vehicle Technology
• Alibaba-backed AutoX unveils first driverless RoboTaxi production line in China
• Nissan gives Japan version of Infiniti Q50 hands-free highway driving
• Hyundai to start autonomous ride-sharing service in Calif.
• Pony.ai Receives Approval for Paid Autonomous Robotaxi Services in Beijing
• Baidu Apollo’s autonomous driving service is now inclusive to all the megacities in China
• Toyota to join Baidu’s open-source self-driving platform
• Baidu, WM Motor announce strategic partnership for L3, L4 autonomous driving solutions
• Volvo will provide cars for Didi’s self-driving test fleet
• BMW and Tencent to develop self-driving car technology together
• BMW, NavInfo bolster partnership in HD map service for autonomous cars in China
• GM Invests $300 M in Momenta to deliver self-driving technologies in China
• FAW Hongqi readies electric SUV offering Level 4 autonomous driving
• Tencent, Changan Auto Announce Autonomous-Vehicle Joint Venture
• Huawei teams up with BAIC BJEV, Changan, GAC to co-launch self-driving car brands
• GAC Aion, DiDi Autonomous Driving to co-develop driverless NEV model
• BYD partners with Huawei for autonomous driving
• Lyft, Magna in Deal to Develop Hardware, Software for Self-Driving Cars
• Xpeng releases autonomous features for highway driving
• Nuro Becomes First Driverless Car Delivery Service in California
• Deutsche Post to Deploy Test Fleet Of Fully Autonomous Delivery Trucks
• ZF autonomous EV venture names first customer
• Magna’s new MAX4 self-driving platform offers autonomy up to Level 4
• Groupe PSA’s safe and intuitive autonomous car tested by the general public
• Mitsubishi Electric to Exhibit Autonomous-driving Technologies in New xAUTO Test Vehicle
• Apple acquires self-driving startup Drive.ai
• Motional to start robotaxi testing with Hyundai Ioniq 5 in Los Angeles
• JD.com Delivers on Self-Driving Electric Trucks
• NAVYA Unveils First Fully Autonomous Taxi
• Fujitsu and HERE to partner on advanced mobility services and autonomous driving
• Great Wall’s autonomous driving arm Haomo.ai receives investment from Meituan
• Plus.ai, Iveco to start L4 autonomous heavy-duty truck test in Europe, China
• T3 Mobility, IDRIVERPLUS to pilot Robotaxi operation in Suzhou with autonomous+manual model

Right here’s the place Tesla’s competitors will get its battery cells…

Right here’s Tesla’s competitors in charging networks…

• Infrastructure Bill: $7.5 billion Towards Nationwide Network of 500,000 EV Chargers
• Electrify America
• EVgo
• Chargepoint
• Ionity Europe
• Shell Plans To Deploy Around 500,000 Charging Points Globally By 2025
• 51 U.S. electric companies commit to build nationwide EV fast charging network by end of 2023
• GM to distribute up to 10 chargers to each of its dealerships starting early 2022
• Circle K Owner Plans Electric-Car Charging Push in U.S., Canada
• 191 U.S. Porsche dealers are installing 350kw chargers
• ChargePoint to equip Daimler dealers with electric car chargers
• Ford introduces 12,000 station charging network, teams with Amazon on home installation
• Petro-Canada Introduces Coast-to-Coast Canadian Charging Network
• Volta is rolling out a free charging network
• E.ON and Virta launch one of the largest intelligent EV charging networks in Europe
• Volkswagen plans 36,000 charging points for electric cars throughout Europe
• Smatric has over 400 charging points in Austria
• Allego has hundreds of chargers in Europe
• PodPoint UK charging stations
• BP Will Invest £1 Billion In UK Charging Infrastructure
• Instavolt is rolling out a UK charging network
• Fastned building 150kw-350kw chargers in Europe
• Aral To Install Over 100 Ultra-Fast Chargers In Germany
• Deutsche Telekom launches installation of charging network for e-cars
• Total to build 1,000 high-powered charging points at 300 European service-stations
• NIO teams up with China’s State Grid to build battery charging, swapping stations
• BYD, Shell to build joint venture for EV charging network development in China
• Volkswagen-based CAMS launches supercharging stations in China
• Volkswagen, FAW Group, JAC Motors, Star Charge formally announce new EV charging JV
• BMW to Build 360,000 Charging Points in China to Juice Electric Car Sales
• BP, Didi Jump on Electric-Vehicle Charging Bandwagon
• Evie rolls out ultrafast charging network in Australia
• Evie Networks To Install 42 Ultra-Fast Charging Sites In Australia

And right here’s Tesla’s competitors in storage batteries…

Thanks,

Mark Spiegel

Up to date on Apr 1, 2022, 11:00 am