INSIDE TESLA’S WALLET
Tesla’s recent decision to stop using ultrasonic sensors (USS) in its cars will reportedly save the electric automaker roughly US$114 per vehicle, said Mike Lane, an analyst from Munro & Associates. While the figures have not been verified by Tesla, Lane said each Tesla comes equipped with about a dozen USS, at US$8 each. That brings the cost of sensors to US$96, said Lane. The automaker also spends on eight heat-staked brackets at $0.15 apiece; installation and labour add another US$1.80 per car. Each vehicle requires two wire harnesses for the fascia at US$2.20 each: two wiring connectors for the dash, costing US$0.40 and two integrated circuits at US$5 each. Tesla plans to build more than two million cars next year, potentially saving more than US$200 million in 2023 alone.
Your Model 3 includes the following components that actively monitor the surrounding area:
1. A camera is mounted above the rear license plate.
2. Ultrasonic senors (if equipped) are located in the front and rear bumpers.
3. A camera is mounted in each door pillar.
4. Three cameras are mounted to the windshield above the rear view mirror.
5. A camera is mounted to each front fender.
6. Radar (if equipped) is mounted behind the front bumper.
A strategic investment from General Motors into Quebec-based Lithion Recycling will see the companies partner to build a circular supply chain for key battery materials. The partnership reportedly seeks to validate Lithion’s recovered battery materials for the production of new batteries in addition to developing a recycling process for EV batteries. Lithion says its technology allows up to 95 percent of battery components to be recovered, treated and reused again by OEMs. The process has the potential to “reduce greenhouse gas emissions by over 75 percent and water usage by over 90 percent compared to mining battery materials,” said the company, citing third-party lifecycle analyses.
AkzoNobel has released its Q3 2022 financial results, reporting strong revenue gains thanks to price hikes outpacing expected losses from lower volume, higher material costs and global inflation. Specifically, the company increased revenue by 19 percent by increasing prices by 13 percent, justified by similar increases in raw material expenses and other variable costs. Additionally, volume was lowered by five percent due to weaker demand for decorative and performance coatings in Europe and lower market demand in China. Ultimately, the company saw returns on sales of 6.4 percent, which AkzoNobel says comes “from lower volumes and higher raw material and freight costs, as well as inflation on operating expenses.”
RELEASE THE CHARGE
Canada’s largest pension fund, in terms of assets, has significantly reduced its holdings in electric vehicle companies in recent months—namely in Tesla and Chinese automakers NIO, Xpeng and Li Auto. As of June 30, the Canadian pension fund held 230,061 Tesla shares; which increased to 690,183 shares following the company’s three-for-one stock split in late August. But, according to a regulatory filing from Sept. 30, the Canadian pension fund held 368,867 Tesla shares—dropping nearly half of its stake in Tesla in Q3. A report from TheStreet.com claims the Canadian pension plan dropped “virtually all its stake” in Chinese EV makers NIO, Xpeng and Li Auto during Q3, but did not specify the number of shares still held in each.
An ES8 model from Chinese automaker Nio. A report from TheStreet.com suggests that Canada’s largest
pension fund by assets has dropped “virtually all its stake” in Nio and other international EV startups.