Tesla Shares Continue to Decline After Election Rally
Dec 20, 2024
Weekend Round-Up: Highlights from SpaceX, Tesla, and More
This weekend was filled with notable events in the tech and automotive sectors. Elon Musk showcased new advancements at SpaceX, while Tesla Inc. prepared for the launch of a new vehicle. Additionally, General Motors announced a pivotal change to its autonomous vehicle unit, and Lucid Motors revealed exciting range capabilities for its recently unveiled SUV.
SpaceX’s Starship Improvements
Elon Musk disclosed that the next iteration of SpaceX’s Starship spacecraft has undergone significant improvements ahead of its seventh test flight. These upgrades are designed to make the spacecraft “lighter, more straightforward to produce, and better able to withstand high temperatures.” Such enhancements are anticipated to boost the overall performance and manufacturing efficiency of the spacecraft.
Tesla’s New Model Q
In an exciting development, Tesla Inc. is preparing to introduce a new vehicle known as the Model Q in the first half of 2025. This vehicle, which is reported to cost under $30,000 after subsidies, aims to provide a more budget-friendly option for customers. As detailed in a report by Global China EV, the Model Q, codenamed “Redwood,” will be about 15% smaller than the Model 3. The company plans to significantly reduce manufacturing costs with this new model.
General Motors’ Strategy with Cruise
General Motors has announced a significant shift in its approach to its Cruise robotaxi unit. The company will stop providing funding for its development and instead incorporate Cruise into its existing engineering teams. This decision has faced criticism from Kyle Vogt, the co-founder of Cruise, and reflects GM's ongoing efforts to focus on delivering top-notch driving experiences in a competitive market.
Lucid’s Upcoming Gravity SUV
Lucid Motors has reported that its new Gravity SUV has received an official EPA range estimate of up to 450 miles, outdoing the Tesla Model X, which offers a range of 329 miles. Although the new SUV's range is still lower than the 512 miles provided by Lucid’s Air sedan, it positions the Gravity as a formidable contender in the growing electric SUV market.