Tesla profit soars. And also craters

The benefit of those newest batteries is their lower cost, right? Perhaps with some improved performance over existing battery tech as well.

One should always take financial (and other) information coming out of China with more than just a grain of salt. They have a habit of … ummm … tweaking the numbers to put the Chinese government in a good light. Or to cause foreign companies to make decisions favorable to the Chinese economy. Like cutting the price on their goods sold in China.

Of course, the numbers aren’t necessarily fudged. But without some outside corroboration, I don’t fully believe them, either.

–Peter

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It’s good to be skeptical.

FYI, the CATL battery in question recently won a prestigious tech award from an international panel. First battery and Chinese company to win in the over 20 years of this award for cutting edge auto tech.

The battery also performs well in cold weather. The battery has the potential to bring fast-charging capabilities (80% charge in 10 min) to lower priced EVs.

I’m guessing the next advance in EV batteries will be with Silicon chemistry. Tesla’s battery partner, Panasonic, is pushing this tech. Point is that battery tech is moving forward very rapidly, lowering costs while improving performance.

That’s a very positive spin for the OEMs. Given that GM and Ford are still incapable of producing EVs that people want at break even prices (let alone profits), their shift from EVs was not really a choice.

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Elon Musk has burned a lot of bridges.

F and GM not far behind.

The excitement of getting any car from the clowns is mixed. Glad they love themselves.