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Tesla teases new vehicle in latest earnings report

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Tesla teases new vehicle in latest earnings report


Tesla’s next generation vehicle will be made in Austin, the company announced Wednesday.

The Austin-based company, which shared its fourth quarter 2023 earnings report Wednesday, teased that it would be making its next vehicle platform in Austin, but gave little detail beyond that.

The company listed the vehicle as “in development” in the earnings report but disclosed no real details on the vehicle itself, including what the price points, name or vehicle type would be. Tesla also did not mention a timeline for its launch.

“We are focused on bringing the next generation platform to market as quickly as we can, with the plan to start production at Gigafactory Texas,” Tesla said in the report. “This platform will revolutionize how vehicles are manufactured.”

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On a call with investors Wednesday, CEO Elon Musk said more details on the platform will come later.

“Perhaps the most important competitive characteristic for Tesla in the future will be manufacturing technology and you will really see that come to bear with our next gen vehicle,” Musk said. “The first manufacturing location for this will be at our gigafactory and headquarters in Austin, Texas and then we will follow that up with other locations around the world.”

Tesla also warned that its growth rate “may be notably lower” in 2024 as it works towards launching the vehicle. In the report Tesla noted it is “currently between two major growth waves,” saying the next wave could be driven by its next-generation vehicle platform.

The warning came as competition in the electric vehicle market heats up. Chinese automaker BYD was the world’s largest seller of electric vehicles in the fourth quarter, unseating Tesla for the first time, according to a report by Reuters. During the fourth quarter BYD sold 526,000 vehicles compared to Tesla’s 485,000. However, Tesla still made the most electric vehicles overall in 2023.

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The company also listed its second-generation Roadster sports car as “in development” on its earnings report. The new version, a successor to a limited production vehicle originally made from 2008 to 2012, has delayed production multiple times, but is available to reserve on Tesla’s website for an initial $50,000 reservation.

The new platform announcement follows a Wednesday morning report from Reuters that said Tesla was working on producing a new mass market electric vehicle codenamed “Redwood” in mid-2025. The report, which cited sources familiar with the matter, said the vehicle could be a compact crossover and production could begin in July 2025.

Musk has previously promised the company would work on more affordable electric vehicles, including a sub-$25,000 vehicle and self-driving robotaxis, which have yet to come to fruition.

Musk confirmed on the investor call the company expects to start production in the second half of 2025, but noted he is typically optimistic about timelines and it would include a lot of new “revolutionary” manufacturing technology.

Musk added that he wants the vehicles to start production in Austin because it “will be a challenging ramp,” and likely will have engineers sleeping and “living” on the production line to make it possible. 

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“We really need engineers to be living on the line,” Musk said. “This is not the sort of ‘off the shelf, just works’ sort of thing. I am confident that once it is going it will be head and shoulders above any other manufacturing technology that exists in the world.” 

The company most recently released a new vehicle late last year when it delivered its first handful of its long-anticipated Cybertrucks. In its earnings report Tesla said it has ramped up capacity to build over 125,000 Cybertrucks a year in Austin.

The company noted in the earnings report it expects the production ramp up to be longer than other vehicles because of Cybertrucks’ “manufacturing complexity.” CEO Elon Musk has repeatedly warned of difficulties scaling up production for the vehicle and the company has not said how many it initially delivered nor how many it expects to in 2024.

Tesla also produces Model Y vehicles and batteries at its Austin gigafactory, Giga Texas. In the report Tesla said in now has capacity to produce 375,000 Model Y SUVs a year in Austin.

Tesla shares fell about 3% after hours as the company missed Wall Street expectations with the company reporting revenue of $25.17 billion in the fourth quarter, compared to the $25.6 billion expected by FactSet analysts. The revenue was a 3% increase overall from the same time last year.

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The company had already released its fourth quarter and full year delivery and production numbers earlier this month, reporting that it delivered 1.8 million vehicles in 2023 including 485,000 in the fourth quarter. Deliveries are Tesla’s closest approximation to vehicle sales.

The earning’s report also comes as Musk demanded more control of Tesla this month if the company is to be a leader in AI or robotics. The CEO, who already has a number of other companies including SpaceX, xAI, Neuralink and The Boring Company, said he would rather focus on building products at another company if he doesn’t get his way.



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Austin, TX

Flesh-eating screwworm may be moving closer to Texas on its own, ag commissioner says

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Flesh-eating screwworm may be moving closer to Texas on its own, ag commissioner says


A Texas agency is concerned that the flesh-eating New World screwworm could be getting closer to Texas without commercial livestock movement.

Texas Agriculture Commissioner Sid Miller is sounding the alarm again for livestock owners to remain vigilant in watching for signs of the parasite in their animals.

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Screwworm sighting near Texas

The latest:

Miller said in a Thursday release that a screwworm had been detected in a cow in González, Tamaulipas, a little more than 200 miles from the southern Texas border. 

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According to the commissioner, the cow had no reported history of movement outside Tamaulipas, and is the third active case reported there. 

Officials in Mexico have not reported a known population of the worm in Tamaulipas. They’re working with U.S. authorities to investigate further into the new case. 

What they’re saying:

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“The screwworm now may be moving closer on its own, with no apparent link to commercial animal movement,” Commissioner Miller said. “Texas producers must act now—stay informed, stay vigilant, and prepare immediately. We cannot drop our guard for even a moment.”

Inspect livestock for screwworm

What you can do:

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Miller urged immediate action from ranchers along the Texas border.

“Inspect your animals daily,” Miller said. “Check every open wound. If anything looks suspicious, report it right away. Better a false alarm than a delayed response—early detection and rapid reporting are our strongest defenses against this devastating pest.”

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U.S. plan to fight screwworm in Texas

Big picture view:

The threat to cattle has been deemed so potentially devastating to the U.S. food supply that the federal government is committing $850 million to fight it.

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Most of that money will be spent on building a sterile male fly production facility near the border.

The facility will produce 300 million sterile male flies a week to be dropped into target areas where the screwworm is now. Those male flies help to reduce the population size through mating without reproducing.

A much smaller portion of the funding will be used for screwworm detection technology.

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In addition, the federal government has already spent $21 million on a sterile fly production facility in Mexico.

What are New World screwworms?

Dig deeper:

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The insect gets its name because it’s only found in the Americas. 

It lays its eggs in the open wounds of animals, and its larvae become parasites, threatening livestock, domestic animals, and even people.

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The screwworm was mostly eradicated in Texas and the rest of the United States in the 60s. But now, it’s moving north up from Panama and has a known presence a little over 300 miles south of the Texas-Mexico border.

The Source: Information in this article comes from Sid Miller.

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Austin, TX

LD Systems expands Texas Footprint with Austin Location and welcomes ILIOS Productions — TPi

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LD Systems expands Texas Footprint with Austin Location and welcomes ILIOS Productions — TPi


For over two decades, ILIOS Productions has been a key part of the live events community in Austin, TX, transforming spaces and audience experiences with a vast range of lighting and video design, as well as event production services across a diverse client portfolio. Now, with the backing of parent company Clair Global, LD Systems, a Houston-based premier provider of audio, video, and lighting for event production and installed technology solutions, is welcoming ILIOS Productions to the team, marking the group’s fourth location in Texas. ILIOS Productions will now operate under the LD Systems brand. 

LD Systems will further resource ILIOS’ existing Austin operation to include additional services such as audio and rigging for live events, as well as integration solutions and services. This addition helps round out LD Systems’ ability to locally serve major metropolitan areas across Texas, including Houston, San Antonio, Dallas-Fort Worth, and Austin and reflects Clair Global’s continued focus on offering global resources while maintaining strong local-market expertise and responsiveness.

ILIOS Productions’ experience spans the concert and festival sector, corporate and activations, and high-end private, philanthropic and charitable events. The company’s commitment to critical event delivery has established trust with major brands including Lollapalooza, SXSW, Austin City Limits, Google, YouTube, the University of Texas System and many more.

Founder, President & Sr Ops Manager of ILIOS Productions, Bryan Azar, said: “After many years of working alongside LD Systems in Austin and beyond, we are delighted to be joining their world-class organisation. This is an exciting new chapter for a bolder future together.”

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Zach Boswell, General Manager, ILIOS Productions, added: “We are passionate about the work we do, and the community and business culture found at LD Systems is the ideal next step for our dedicated employees to progress as a united workforce.“

LD Systems co-founder and President, Rob McKinley commented: “We are delighted to amplify our service offerings in Austin with the addition of Bryan and his exceptional team of technology professionals. They have made a significant difference to many Texans with the work they undertake, and LD Systems is proud to welcome both their talent and ethos to the company.”

Building on this momentum, LD Systems also announced plans to expand its San Antonio facility into a new location in January 2026. Together with the addition of ILIOS Productions in Austin, this investment reinforces the organisation’s long-term investment in Texas and its dedication to meeting growing client demand with enhanced capacity and infrastructure.

www.ldsystems.com

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Austin airport one step closer to major expansion that will add 32 new gates

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Austin airport one step closer to major expansion that will add 32 new gates


AUSTIN, Texas — Austin-Bergstrom International Airport is one step closer to getting a major makeover after finalizing lease agreements with airlines that will support future renovations, including the addition of 32 new gates.

The airport on Wednesday announced the completion of Airline Use and Lease Agreements and Signatory Cargo Agreements with several major airlines and cargo companies, including Southwest Airlines, Delta Air Lines, United Airlines, American Airlines, Alaska Airlines, FedEx and UPS.

According to a press release from the airport, the use-and-lease agreements allow companies to commit funding to the project through rent and fees “generated under the agreements’ cost-recovery structure, supporting the airport’s ability to deliver projects that expand capacity, strengthen resiliency, and improve the passenger experience.”

The agreements will support the following projects at Austin-Bergstrom over the next 10 years:

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  • The addition of Concourse B, which will add 26 new gates, including 18 for Southwest Airlines and five with United Airlines.
  • Concourse M, adding six new gates, a bus to transport travelers to and from the Barbara Jordan Terminal, new concessions, restrooms and passenger amenities.
  • Enhanced seating and amenities, increased space and modernized concessions in Concourse A (home to all international flights). Delta Air Lines will have 15 gates, American Airlines will have nine, Alaska Airlines will have one and there will be eight common-use gates.
  • Updates to HVAC systems, electrical system, IT and telecommunications, storm drainage, water quality and de-icing infrastructure.

In a statement, District 2 Councilmember Vanessa Fuentes applauded the future job creation that’s to come out of the project. 

“This expansion program represents a tremendous economic opportunity for Austin—not only through the trades and construction jobs created during the buildout, but also through long-term jobs in concessions, airport operations, and airline services after the program is complete,” Fuentes said.

“This agreement reflects years of partnership, thoughtful negotiations, and shared vision with our airline partners. Their commitment provides the financial foundation we need to modernize our facilities, transform customer experience, and build the infrastructure needed to support Central Texas’ continued growth for generations to come. AUS would not be where it is today without the collaboration and investment of our airlines, and we are deeply grateful for their trust and partnership as we shape the future of air travel in Central Texas,” said Ghizlane Badawi, CEO of Austin-Bergstrom International Airport.

The final cost of the project is still under development, but is anticipated to grow from an estimated $4 billion to $5 billion. According to the airport, funding sources include airport cash reserves, airport revenues, bond proceeds and grants from the Federal Aviation Administration. 

“No local Austin taxpayer dollars are used to fund the airport’s expansion program,” the release said.



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