China, Tesla, Hyundai discussed on Tesla Daily: Tesla News & Analysis


Sometimes not always, but definitely seems to have some sort of access to information. Anyway, this account posted on Twitter today, quote, such a big surprise, see you Friday. End quote. Now remember this account only ever posts about China domestic sales, so I would assume they're excited about a big number specifically for that and for context we have to look back at what domestic sales have been in previous months rather than looking at total production. And the peak for domestic sales for any one month was back in September at the end of Q three at right around 52,000 vehicles. So I would assume this implies a better number than that for December. Still, though, because this is the last month of the quarter, the export number might be small, even though Tesla says that they're trying to unwind the delivery wave. Old habits die hard, so I wouldn't expect a huge export number in December. So even a really strong domestic delivery number might not be quite as encouraging as it might seem at first. Me personally, I would be very happy with any number above 60,000. That's sort of in the ballpark of what I expect for production for Giga Shanghai for December. The other news that we have for China is that it is being reported that four 2022, China will lift the foreign investment restrictions, which require for an automakers to operate under joint ventures in China. That will be lifted, and now they can own 100% of their Chinese operations. Now, of course, for Tesla, that doesn't change anything because Tesla was granted an exception to that and does already have 100% ownership of their operations in China, but still, that will level the playing field for others to now do the same. All right, last item for today is on Hyundai the Korea economic daily is reporting that Hyundai is closing the engine development division at their R and D center in South Korea to instead focus on development of electric powertrains and an email they acquired from the R and D chief, reads quote, now it is inevitable to convert into electrification, our own engine development is a great achievement, but we must change the system to create future innovation based on the great asset from the past. So I think definitely encouraging to see that smart move by Hyundai in my opinion and this continues to put the writing on the wall, which I think we have all seen for a long time, but again, kind of like we talked about in that interview with Alex botter the more decisions like this that are made, the clear the message is to supply chains and other stakeholders as well. On where things are heading and how quickly. So that is it for today then, as always, thank you for listening. Make sure you subscribe and sign up for notifications. You can also find me on Twitter at Tesla podcast. And we'll see you tomorrow for the Wednesday December 29th episode of Tesla daily. Thank you..

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