In a striking turn of events, Tesla's Supercharger network — the globe's sole fast-charging infrastructure for electric vehicles — has been appraised by industry analysts to exceed $100 billion potentially. This evaluation, by one of the top Tesla experts, sends ripples across the EV charging business, marking a critical point for Tesla and the wider industry.
Initially, Tesla's Supercharger network was meant as a perk for Tesla car owners, not a profit center. However, a fully developed EV charging market didn't materialize as expected, particularly in North America. Thus, automakers like GM and Ford have jumped on board, adopting Tesla’s NACS connector to provide their EV buyers access to Tesla’s Supercharger network. This is set to consolidate Tesla's position in the EV charging business, particularly in North America. Ev Chargers Supplier
Adam Jonas, a highly regarded Tesla analyst at Morgan Stanley who also recently downplayed the Cybertruck, has extrapolated the potential value of the Supercharger business to Tesla. Jonas's team envisages a future where Tesla produces and stores its solar electricity to power Superchargers. By crunching the numbers, including assumed percentages of US electric vehicle miles in 2030, Supercharger market share, miles per kWh efficiency, and kWh revenue, several future scenarios emerged.
An important element in these scenarios is the Net Operating Profit After Tax (NOPAT) concept. NOPAT is a company's potential profit after taking out the costs of goods sold and operating expenses before deducting interest and taxes. It's used to gauge operating efficiency and profitability without considering the effects of the company's capital structure or debt.
To break it down, Jonas presents four unique cases:
Given Tesla's massive number of shares, surpassing 3 billion, the Supercharger network's valuation crosses $100 billion at a per-share price of $33.
This hefty valuation of Tesla's Supercharger network underscores the substantial profit potential waiting to be unlocked in the EV charging infrastructure. It also signifies the unyielding lead Tesla has carved out in the EV market, not just with their electric vehicles but also their charging network. As more automakers pivot towards Tesla's charging standard, this $100 billion valuation may indicate more seismic shifts in the EV industry.
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Tesla's vehicles have long been a playground for tech enthusiasts. Through reverse engineering, developers have accessed Tesla's APIs for years, giving birth to third-party services that track vehicle metrics, deliver notifications and even help manage whole fleets of Teslas. However, this free-for-all is nearing its end, as Tesla has unveiled official API documents, signaling a more structured future.
APIs, or Application Programming Interfaces, serve as communication bridges between software applications. Think of an API as a waiter taking your order and bringing food to your table; it fetches data from one application and serves it to another. Developers leverage APIs to create applications and services that interact with platforms like Tesla or X, providing enriched or unique user experiences.
Tesla is being a bit cryptic. While all specifics aren't out, they're offering a Free Trial, with APIs being "temporarily free" during this period. The primary tier introduced is the "Discovery" tier. The current Discovery tier presents challenges for third-party services. Why? Because the Discovery tier allows one data request per car every 5 minutes. Many services pull data far more frequently, making this a potential bottleneck for context.
Moreover, Tesla has indicated that the Discovery tier is just a stepping stone and will evolve in 2024, but there's no word on limits or pricing of other tiers.
While more prominent third-party services may adjust, like Uber, smaller projects often set up by Tesla owners using open-source software, like TeslaMate — may bear the brunt. The new official API versions appear more restrictive than Tesla's existing ones and could introduce charges, making it hard for smaller services to operate in their current form.
This move mirrors another of Elon Musk's ventures: X. After acquiring Twitter, before renaming it X, Musk revamped the API access to boost revenue for a social media platform that was headed for bankruptcy. Twitter's straightforward free access system was transformed to include tiered charges — some costing thousands a month. Developers, a bedrock of Twitter's ecosystem, were in a frenzy. Some had to shut down their projects, while others passed the added costs to users.
While it's still early for Tesla's API shift, it signals a broader trend in Musk-led ventures. Both Tesla and X's decisions underscore the business tug-of-war between enhancing profits and nurturing a community. While official APIs will introduce some benefits, such as users gaining more control over their data. Developers, the unsung heroes behind numerous tools and services, now find themselves on this tightrope, with end-users possibly facing the fallout of reduced features or higher charges.
Tesla has been sporting some creative wraps on its Cybertruck. In July, we speculated that perhaps Tesla was considering getting into the wrap business. Now we have our answer. Tesla has launched premium color wraps for the Model 3 and Model Y. Although Tesla may not stop there.
Before we get the Cybertruck angle, the wrap itself is a story. It is available exclusively through Tesla. These wraps allow for a splash of personal style and offer protection. The self-healing, urethane-based film (PPF) shields the vehicle's original paint from potential damage like chips, scratches, and even the dreaded paint swirl.
Customers can choose from a range of seven vibrant and exclusive colors. Those interested in the subtler spectrum can opt for Satin Stealth Black or Slip Grey, priced at $7,500. However, for those wishing to make a more vivid statement, Glacier Blue, Satin Rose Gold, Forest Green, Satin Ceramic White, and Crimson Red are available at a premium of $8,000. Although these wraps come at a premium, they offer more protection than a standard wrap.
Furthermore, for individuals looking to maintain their original car color while enjoying the protective benefits, the Model 3/Y Clear Wrap option is available for $5,000. Installations are currently being managed at two primary Tesla Service Centers in West Covina and Carlsbad, California. Right now these wraps are also limited to 2023 model years of the 3 and Y.
From a camouflage design to the surprising Ford F-150 mockup, Cybertruck sightings with unique wraps make sense. Given the Cybertruck's single-tone stainless steel design, such customizations would allow owners to differentiate their vehicles on the roads.
In previous statements, Elon Musk hinted at the possibility of Cybertruck owners wrapping their vehicles in "any color or pattern." Could the introduction of the Model 3 and Model Y wrap service, be just the first step? Given the Cybertruck's unique design, which we previously likened to a blank canvas, there's a vast playground for potential customizations.
Tesla's move in the US mirrors its initiatives in China, where the company has a wrapping service to provide their vehicles with a rejuvenated appearance, offsetting their limited paint options.
This strategic move could address the critique regarding the monotony of Tesla's vehicle color schemes. Beyond production efficiencies, introducing wraps could offer Tesla owners a bespoke vehicle experience, showcasing their individual flair. As we anticipate the launch of Cybertruck, incorporating customizable wraps might signal a redefining moment in EV personalization.
Tesla's venture into vehicle wraps for Model 3 and Model Y could be a prelude to a more expansive customization offering, potentially for the eagerly-awaited Cybertruck. As Tesla was born and raised in California, incorporating the wrap business in that state will give the company a good idea of customer demand, even before the Cybertruck.
See all the features included in Tesla's latest update, version 2023.38.1.
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See all the features included in Tesla's latest update, version 2023.38.1.
Take a look at features that Elon Musk has said will be coming soon.
10% off Tesla accessories at Tesmanian with promo code: TeslaSoftwareUpdates
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