Absrtact: a year and four months later, on January 7,2020, Musk took a private jet to China to attend the Model 3 delivery ceremony at Tesla's Shanghai Lingang factory, where he wriggled his fat but flexible body and jumped a striptease, laughing like a 300-pound child.
On September 6,2018,\" Silicon Valley Iron Man \"Musk openly sported whiskey with a marijuana-smoking, uninhibited look that seemed chic but frustrated. At the time, tesla was in the doldrums of stock-debt setbacks and high-level shocks that mr musk often fretted about. The following day, tesla's shares opened more than 7% lower than $253 in intraday trading, and more than 10% fell to a nearly two-year record.
A year and four months later, on January 7,2020, Musk flew on a private jet to China for the Model 3 delivery at Tesla's Shanghai Port Factory, where he wriggled his fat but flexible body and jumped on a strip, laughing like a 300-pound kid. The difference is that the next day Tesla's closing share price jumped by% to $492, refreshing its all-time high.
For more than a year, Musk has also experienced the darkest moments of Tesla's stock price for nearly three years, from failed marijuana-smoking to excited dances. Tesla shares fell to $177 on June 28,2019, the lowest in nearly three years. However, Tesla is now in its best shape since its inception in 2003, aided by third-quarter sales and earnings performance. On january 8th it had a market capitalisation of $88.2 billion, or even more than gm and ford combined.
According to Tesla's report, its third-quarter global delivery reached 10,000 vehicles, with a net profit of $100 million. Tesla sold more than 10,000 vehicles in the fourth quarter of 2019, hitting a record high; the year's cumulative sales reached 10,000, up 50 percent year-on-year, exceeding its set annual sales target of 360,000. Among them, China has become Tesla's second largest market.
But Tesla's big pies in China, by contrast, may be more likely to boost confidence in capital markets. On January 7,2019, Tesla's Shanghai superplant officially broke ground, and a full year later on January 7, Musk was able to deliver the first models to users in person, refreshing Tesla's all-time production speed. Meanwhile, Musk has officially announced the launch of Tesla's second home-made Model Y home-made project, with the official website showing it will start production as soon as 2021.
\"China will be the biggest market for the Model 3,\" and\" Model Y is likely to sell more than Tesla's all other models combined,\" the message delivered by Tesla to the outside world outlined a picture of a Chinese street full of \"T\" logo cars,\" in the future Tesla will become a streetcar.\" A Tesla sales consultant told reporters.
According to Tesla's plan, the total annual capacity of the domestic Model 3 and Model Y in 2021 will be 250,000. For the home-made Model Y, which will start production in 2021, some agencies predict its steady-state sales will exceed 400,000.
The domestic auto industry has used \"catfish\" to describe home-made Teslas, which have soared for a long time, although products have not yet been delivered in large quantities. Of the more than 100 tesla suppliers, chinese companies are taking up half of it, and they will follow tesla's growth and eventually become less expensive to build, heating china's new-energy auto industry in the winter. But others are wary that tesla's \"catfish\" may turn into a \"shark\" to destroy local car companies.
At the event's scene on January 7, Musk, while taking a maverick striptease, also did a \"hard-to-get\" job - giving thanks. Like many other top auto makers, Mr Musk said he was \"very grateful to the Chinese government and consumers for their strong support for Tesla \". But unlike other top auto makers, whose thanks are seen as \"tacky \", Musk's have become a key word for media coverage.
Back in 2008, Mr Musk met with China's science and technology minister, Wan Gang, for the first time. At a time when tesla is still struggling for profits and eager to expand the market, mr maske came to beijing in 2014 to discuss a home-made plan to build a wholly-owned factory without success. Nonetheless, Mr Musk is happy to be able to take a strip in China today, thanks to the government, not only for its policy liberalization, but also for its industrial chain base, financial support, and lower labor costs.
on june 28,2018, the development and reform commission and the ministry of commerce issued the special management measures for foreign investment access (negative list)(2018 edition), adding \"except special vehicles, new energy vehicles\" on the basis of the original regulation \"the ratio of chinese shares in automobile manufacturing is not less than 50%\". The document, which allowed mr maske to build a wholly-owned factory in china, followed the signing of an investment agreement between tesla and shanghai on a purely electric vehicle project in july that year, even cutting off plans for mr wei to build a factory in shanghai.
China's capital markets are also generous. In 2019, Tesla received loans from a number of Chinese banks, accumulating as much as $18.5 billion, even more than the estimated construction costs of its previous Shanghai plant. Shanghai not only gives preferential treatment on the land of the Tesla factory, but also provides support on the staff supporting housing, and it is understood that the rent for the two-bedroom house near the factory is only more than 1000 yuan.
Not only that, the silicon valley \"network red\" enterprise in the talent recruitment market has also set off a wave. On August 2,2018, the \"Tesla recruitment\" WeChat public number first released the recruitment information of the port factory, the reading amount reached Wan, and since then, nearly 60 recruitment related push has been released. With talent flocking to major cities across the country, tesla hr says it has received as many as 700,000 resumes a year, making it difficult to count the \"pass rate \".
Domestic suppliers are also looking forward to working with Tesla. The Tesla index closed up% on January 8 and has risen as much as 35% since December, far more than the rest of the period, according to WIND data. According to the statistics of relevant institutions, Tesla industry chain design power battery assembly, electric drive system, high voltage system and other direct and indirect suppliers accumulated more than 130, of which more than half of the Chinese enterprises.
As tesla's domestic production accelerates, both its main business orders and capital market opportunities will rise. According to Shen Wan Hongyuan Securities, assuming Tesla achieves 300,000 production in 2021, the bicycle is worth 300,000 yuan, and it is expected that batteries, materials, high voltage DC relays, heat management systems and other links are expected to bring more than 40 billion yuan of market space.
Recently, Xusheng shares, which mainly provide Tesla with parts such as drive unit housing, radiator housing and so on, said that so far Tesla is its first major customer, and as of the first half of 2019, the company's sales revenue to Tesla accounted for% of the main business revenue.
At a time of tesla's revelry, the domestic market for new-energy cars has plunged into winter. Since July 2019, new energy vehicles have ended their previous years of high growth growth and started falling in succession.
On January 8, the day after Tesla opened its bulk delivery, BYD reported its 2019 total sales of 10,000 vehicles, of which new energy vehicles sold 10,000, down% year-on-year, and the hat of the global new energy car sales champion for several years was first taken away by Tesla. In addition, BAIC's new energy sales in 2019 were 10,000, down% from a year earlier.
The industry blamed a continuing decline in new-energy car sales on a further fall in subsidies in 2019. On the one hand, car-buying demand was released early before the first half of the subsidy retreat; on the other hand, the B-terminal market, which emerged on the basis of subsidies in previous years, began to become rational from madness. Great Wall Securities predicts that in the previous market sales direction, the unit purchase quantity of 2B end is higher, but the private purchase quantity of 2C end is actually increasing gradually, and the consumer's identity to electric vehicle is increasing.
The big increase in sales of new-energy vehicles is due to the fact that costs remain difficult to match with traditional fuel vehicles, as well as problems such as endurance, charging facilities and safety risks. Tesla's domestic is regarded as a fire in the cold winter of Chinese cars, and several research institutions believe that Tesla's domestic is a landmark event, combined with the promotion of the platform of new energy vehicles in other car companies, the market for new energy vehicles in 2020 will usher in an inflection point.
on the one hand, tesla will enhance consumer recognition of electric vehicles; on the other hand, the supply chain scale will reduce the cost of the entire industrial chain. Soochow Securities said Tesla industry chain opportunities would be expected to replicate Apple's golden decade. It is also seen as the fundamental purpose of the Chinese government's active introduction of Tesla. At present, Tesla Model 3 has a 30% localization rate, and Musk expects to reach 100% by the end of the year.
However, after the \"fat\" Tesla, the Chinese car companies will be bitten back? Thanks to the experience and efficiency gained in the design of the Shanghai superplant, Tesla expects that the capital expenditure per unit of production capacity will be about 50 percent lower than the current Model 3 production system in the United States. It also led Tesla to enter the Chinese market and even the global market with lower product prices to grab market share of competing models.
Mr Musk said at the event on January 7 that electric vehicles would be designed in China in the future. Tesla homemade the most direct impact, will be the new car manufacturers. Long before tesla made its home,\" to mark tesla \"became their propaganda slogan. Wei even publicly compared its ES6, ES8, and EC6 to Tesla Model 3, Model X, and Model Y in the circle of friends. In addition, the domestic Model 3 will compete directly with luxury brands such as ABB, as well as high-end brand electric models from local car companies such as BYD and Geely.
At the 2019 Guangzhou Motor Show, a new car maker employee who has yet to achieve bulk delivery of the product sat in the co-pilot seat of a domestic Model 3 on the Tesla booth, repeatedly looking at the interior while looking stony. \"You'll definitely feel the pressure. for tesla home-made, he said. At the launch of his new car next door, shen hui, weima's founder, chairman and ceo, said,\" tesla isn't terrible, it's popular, and it's good to make the market bigger.\"
\"Tesla will be under pressure to enter the Chinese market, and I can see from the user's point of view that it is not much pressure. SAIC passenger car company deputy general manager Yu Jingmin said. At present, domestic Model 3 has just begun delivery, product quality cannot be measured. But only from the management model, Tesla does face pressure. There are Tesla employees in China who complain that they can't stand changing and working with high intensity and describe it as a \"siege \".
\"We don't look at Tesla's long-term prospects, especially as time goes on, we think Tesla will become more and more like a traditional carmaker.\" Morgan Stanley analyst Jonas noted in December that Tesla's current share price was too high for a carmaker. Earlier, the agency pre-stated that Tesla would not be able to capture a large share of China's electric car market, but that lower production costs would help make profits.
\"You're the second consumer I've met to see a home-made Model 3. A Tesla sales consultant told reporters that consumers of the domestic Model 3 were more price-conscious than those who bought other Tesla models. But with the official listing of Tesla's domestic models and the pull down of prices, when the attention of Chinese car owners returns to the cost-effective and quality of the vehicle itself, can Tesla's technology aura still create a tolerant space for it not to hide its flaws?