On April 28th, the China Association of Automobile Manufacturers (CAAM) officially released a notice on the inspection of four safety requirements for automotive data processing (first batch). Among them, 76 models from six companies, BYD, Ideal, Lotus, Hezhong New Energy (Nezha Automobile), Tesla, and NIO, meet the four compliance requirements for automotive data safety.
From a specific vehicle model perspective, Tesla's domestically produced Model 3 and Model Y both meet automotive data security compliance requirements, making it the only foreign-funded enterprise among them to meet compliance requirements.
According to First Financial, Tesla has announced that various regions have gradually lifted restrictions on the operation and parking of intelligent connected vehicles such as Tesla.
According to CCTV Finance, Musk stated in this week's financial report that "autonomous driving" is now Tesla's top priority, and he strongly stated that if you don't believe Tesla will solve the problem of autonomous driving, don't be their investor. In addition, regarding low-cost models, Musk stated that they are still in the planning phase and are expected to be released early next year or by the end of this year. With the support of both, Tesla's stock price rose by 12% and its market value returned to above $500 billion. Musk once again surpassed Zuckerberg to become the third richest person in the world.
CCTV News: At the invitation of the China Council for the Promotion of International Trade, Elon Musk, CEO of Tesla, arrived in Beijing this afternoon (28th). Ren Hongbin, President of the China Council for the Promotion of International Trade, met with Musk to discuss topics such as future cooperation. According to Yu Yuan Tan Tian, when Musk arrived in Beijing, he said: "I am glad to see progress in electric vehicles in China, and in the future, all cars will be electric.".
CCTV News
Musk: Tesla FSD functionality will soon be implemented in China
According to First Financial, Tesla has not responded to Musk's specific itinerary for this visit to China. However, based on Musk's previous statements on social media, it is expected that his visit will promote the implementation of fully automated driving (FSD) software in China, as well as issues such as cross-border transmission licenses for autonomous driving data.
Tesla CEO Elon Musk stated on April 20th that Tesla may soon provide fully autonomous driving software with FSD functionality to Chinese customers. Musk replied to a user on social media platform X asking when Tesla will launch FSD in China, saying, "It may happen soon."
Tesla launched the FSD feature four years ago, but it has not yet been launched in China. Chinese car manufacturers such as NIO, Xiaopeng, and Wenjie have been seeking to gain advantages in electric vehicles by launching autonomous driving software.
Currently, Tesla is facing a growth dilemma. Now Tesla hopes to get rid of the low ebb with more affordable models, full auto drive system (hereinafter referred to as FSD) and driverless taxi Robotaxi.
FSD: Expected to reach a qualitative milestone of 6 billion miles within a year, with annual revenue expected to reach billions of dollars in the future
According to a previous report by the Daily Economic News, Tesla's FSD has entered the V12.3 phase. In March, Tesla pushed FSDV version 12.3.1 to North American car owners, introducing end-to-end neural network technology. This technology uses deep learning of driving data from over a million vehicles and artificial intelligence technology to influence vehicle control, such as operating steering wheel pedals, turn signals, etc., rather than hard coding every driving behavior, marking another leap for Tesla in the field of autonomous driving.
Musk once stated that 6 billion miles traveled was an important milestone in achieving qualitative change in the FSD system. In the first quarter of 2024, the total actual road mileage of Tesla's FSD system reached 1.25 billion miles (approximately 2 billion kilometers). Tesla expects that at current speeds, the cumulative mileage of FSD is expected to reach 2 billion miles by the end of May and 6 billion miles within a year.
Tesla Q1 2024 Financial Report
In order to promote the coverage of FSD, Tesla has recently lowered the monthly subscription price and package purchase price of FSD in the United States: the FSD subscription price has decreased from $199 per month to $99, a decrease of 50.25%; The purchase price of the FSD package has been reduced by 33% from $12000 to $8000.
Tesla stated at its financial report meeting that FSD is only "one step away" from full commercial use, and once implemented, this technology will become Tesla's "cash cow", bringing it substantial profits.
A report by Goldman Sachs analyst Mark Delaney's team in November last year stated that although FSD is still in the testing phase, its annual revenue has reached $1-3 billion. The team believes that from a favorable perspective, with the growth of Tesla electric vehicles worldwide, "we believe that by 2030, Tesla's software related revenue will reach billions of dollars annually (mainly from FSD)."
However, Daniel Ives, Managing Director and Senior Stock Analyst at Wedbush, stated in an email to a reporter from The Daily Economic News that "FSD and autonomous driving are a key long-term strategy for Tesla. Although the prospects are promising, they also bring a series of regulatory and technical challenges that Tesla must gradually overcome in the coming years to achieve Musk's strategic vision." He also mentioned that accelerating unit growth in the next year is Tesla's focus.
