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Tesla Daily: Tesla News & Analysis
Volkswagen EV Orders Below Target, Cybertruck Details, Tesla Merch (10.13.23)
Oct 13, 2023
Discussion on Volkswagen's below-target EV orders, Kia's EV concepts and app release, Tesla's production of 4680 batteries, updates on the Cybertruck and Tesla Semi, weight capacity of EVs and performance of the Tesla Semi, updates on Tesla's referral program and Model X arson case, progress of the CATL Shanghai plant, and updates on SpaceX's recent launches and a mission to an asteroid.
14:39
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Quick takeaways
- Volkswagen's EV orders fell short of their targets in Q3, indicating a potential plateau in EV market growth.
- Kia's EV day introduced new concept vehicles, including an EV sedan and compact SUV, potentially competing with Tesla's offerings.
Deep dives
Volkswagen's EV orders miss targets, but overall EV sales show growth
Volkswagen's new orders for electric vehicles (EVs) did not meet their ambitious targets in Q3, citing lower than expected overall market trends. However, they did experience a significant growth in their EV business, with a 41% increase in EV sales year over year, reaching around 210,000 sales. While Europe remains their strongest market, their EV growth in China has been minimal. This update suggests that EV makers like Volkswagen may be reaching a plateau in terms of growth, making it challenging to meet ambitious targets.
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