Tesla News Summary Creating a U.S. Rising Base Amid Interest Rate Cuts

Tesla News Summary Creating a U.S. Rising Base Amid Interest Rate Cuts

1. U.S. (Fed) rate cuts

• The U.S. (Fed) has officially announced that it will cut interest rates by 0.50%.

1. Cybertruck Deliveries In Canada Begins

• Deliveries of Cybertruck in Canada are expected to begin in late October.

1. First Cybertruck Delivery in Mexico

• After a long wait, the first Cybertruck finally began to be delivered from Mexico.

1. Morgan Stanley Announces Notes On Tesla

• Morgan Stanley’s Adam Jonas announced a new Tesla ($TSLA)-related note. He noted that Ford’s purchase of the ZEV credit could support Tesla’s AI data center growth.
  “Think of it like this… Could Ford potentially fund Tesla’s AI data center growth? Ford says it has a firm obligation to purchase approximately $4 billion worth of zero-emission vehicle (ZEV) credits to maintain vehicle compliance with CO2 emissions globally in the coming years. According to our estimates, up to 50% of these credits are likely to be purchased directly from Tesla given Tesla’s share in the market where Ford is involved. Tesla said it had $2.5 billion worth of AI infrastructure in PP&E (a 65% increase from the previous year) as of the end of the second quarter of 2024. We believe Tesla’s distributed energy production (solar) and storage (Powerwall/Megapack) capabilities could play a significant role in the evolution of the U.S. electric grid as computing and data usage grows.” Adam Jonas maintained a price target on Tesla stock at $310 and gave it an “overweight” rating.

1. Tesla’s AGI Startup xAI

• Adam Jonas urged Tesla shareholders to understand Elon Musk’s AGI start-up, xAI, stressing that training and simulation are critical elements for Tesla’s future.

1. PepsiCo Has 89 Tesla Semi Trucks

• PepsiCo said it currently has 89 Tesla semi-trucks among its vehicles.

1. Tesla Semi Achieves 1.2kWh Efficiency per Mile

• Elon Musk said the Tesla Semi could be up to about 1.2 kWh per mile efficiency on average cargo loads.

1. Tesla Semi Demonstrates Successful Mega-Watt Charging

• Tesla Semi Engineering General Manager Dan Priestley said he successfully demonstrated and deployed megawatt-level charging, and PepsiCo succeeded in running 1,050 miles in 24 hours.

1. Tesla Supercharger Network Opens To GM Electric Vehicles

• Tesla’s Supercharger network has officially opened up to GM electric vehicles across the United States and Canada. GM, however, says it charges $225 per adapter, and its warranty is invalid when using a non-GM adapter.

1. Rivian Starts Selling Authorized Used Vehicles

• Rivian is selling authorized used vehicles on its website for a minimum of $62,000. Used vehicles come with a warranty of up to seven years or 175,000 miles for battery packs and drive systems.

1. J.P. Morgan forecasts drop in Viasat earnings

• J.P. Morgan predicts the deal between United Airlines and SpaceX could cost Viasat up to $80 million in annual revenue.

1. United Airlines Introduces Starlink

• United Airlines said it wished it had been able to install Starlink on all aircraft earlier, noting that it is smaller, easier to install and more modular than conventional systems.

1. Regent Seven Seas Cruise Completed Installation of Starlink

• Regent Seven Seas Cruises has completed the installation of SpaceX’s Starlink on all ships in its fleet, providing high-speed, unlimited WiFi to passengers.

1. Texas Congressman Urges Support for SpaceX Project

• Texas Republican Representative Keith Self has written to the FAA urging it to accelerate environmental review of the SpaceX project.

1. Neuralink Acquires Breakthrough Medical Device Designation

• Neuralink’s brain implant chip ‘BlindSight’ has received an innovative medical device designation from the FDA, meaning the device could show a significant improvement over conventional treatments.

1. 𝕏 Payments Acquires New Remittance License

• 𝕏 acquires remittance licenses in California and Oklahoma, which currently holds licenses in a total of 38 states. Additional licensing is required in 12 states.