Rivian has launched a second-generation version of its R1S electric SUV, offering significant updates to design, tech, performance, and range. This article details the key changes, including a new tri-motor variant with 850 horsepower, enhanced autonomous driving capabilities, and a refined interior. While the price has increased, the R1S remains a top contender in the luxury electric SUV segment.
Hyundai Mobis, a leading automotive supplier, recently hosted its third annual ‘Mobility Day’ event, organized by its North American open innovation investment hub, Mobis Ventures Silicon Valley (MVSV). The event, held in Silicon Valley, brought together global startups, academia, and investors to discuss the latest trends and opportunities in the mobility sector, with a focus on software, autonomous driving, and infotainment technologies.
Waymo, the autonomous vehicle subsidiary of Alphabet, has reached a significant milestone with its robotaxis completing over 50,000 paid trips monthly in San Francisco, Phoenix, and Los Angeles. This achievement reflects the increasing adoption of autonomous technology in the mobility sector, as passengers embrace the convenience and safety of driverless transportation.
Tesla is partnering with Chinese search giant Baidu for mapping and navigation services, and may soon roll out its advanced assisted-driving software in China. By partnering with Baidu, Tesla can leverage its mapping capabilities and ease concerns over data security in China.
Tesla CEO Elon Musk has arrived in Beijing for a meeting with senior Chinese officials at the State Council. Musk is expected to discuss the potential introduction of Tesla’s autonomous driving technology in China’s rapidly expanding electric vehicle (EV) market. Musk’s visit also coincides with the 2024 Beijing Auto Show, providing an opportunity for discussions with Chinese officials about the rollout of Tesla’s Full-Self Driving (FSD) software. Additionally, Musk’s trip comes amid ongoing speculation about the company’s investment plans in India, although a previously scheduled visit to meet Prime Minister Narendra Modi has been postponed.
Tesla’s Full Self-Driving (FSD) software has faced renewed scrutiny following shocking claims made by Dustin Moskovitz, co-founder of Meta (formerly Facebook). Moskovitz has raised concerns about misleading data, consumer fraud, and questionable progress in FSD development.
In a recent earnings call, Tesla CEO Elon Musk unveiled his vision for the company’s future, which includes the introduction of robotaxis and new, affordable electric vehicles. The robotaxi fleet will allow Tesla owners to rent out their cars through a ride-hailing program, generating additional income while reducing idle time. The affordable EVs, slated for production in 2025, will be built on existing manufacturing lines, reducing costs and expanding Tesla’s market reach. These initiatives are part of Musk’s broader vision for Tesla as a leader in artificial intelligence and robotics, with the humanoid robot Optimus expected to be available for sale by 2025.
Tesla’s recent Q1 earnings call presented a mix of news, including a decline in net income and plans for cheaper electric cars. Notably, Elon Musk showcased screenshots of a self-driving ride-hailing app, hinting at Tesla’s ambitions to compete with Uber and Waymo. The app features include temperature control, music selection, and seating adjustments, suggesting an intuitive user experience. However, it’s important to note that Tesla has yet to achieve fully unsupervised self-driving, making these screenshots a proof of concept for now.
Despite a 55% decline in net income for the first quarter, Tesla’s stock price surged during after-hours trading on Tuesday following the company’s announcement of plans to expedite production of new, more cost-effective vehicles. The Austin, Texas-based company reported earnings of $1.13 billion from January through March, a decrease from $2.51 billion in the corresponding period the previous year. Investors and analysts were looking for some sign that Tesla will take steps to stem its stock’s slide this year and grow sales. The company did that in a letter to investors Tuesday, saying that production of smaller, more affordable models will start ahead of previous guidance. The company also appears to be counting on a vehicle built to be a fully autonomous robotaxi as the catalyst for future earnings growth.
Tesla’s net income fell by 55% in the first quarter of 2023, but the company’s stock price rose after announcing plans to accelerate production of smaller, more affordable vehicles. The company aims to start production of these new models in the second half of the year or late this year, without the need for additional factories or massive new production lines. Tesla also anticipates selling more vehicles in 2023 compared to the previous year’s 1.8 million units and sees its fully autonomous robotaxi as a catalyst for future growth. Despite a 9% revenue decline due to increased competition and slowing electric vehicle demand, analysts believe that the company’s revised guidance about its future has helped alleviate investor concerns about production delays and growth potential.
