Austin, TX
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.”
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.
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 The new version, a successor to a limited production vehicle originally made from 2008 to 2012, has delayed production multiple times, but is available to reserve on Tesla’s website for an initial $50,000 reservation.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.
“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.
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.
Austin, TX
Long TSA lines return at Austin airport as shutdown drags on, pay order offers hope
AUSTIN, Texas — Long security lines returned to Austin-Bergstrom International Airport on Sunday as the partial government shutdown continued, prompting some travelers to arrive hours early and still worry they might miss their flights.
Some travelers said they showed up four hours ahead of departure to try to avoid problems at the checkpoint. Inside the terminal, security lines stretched across the building, testing patience as passengers waited to be screened.
“This has been insane. Hopefully they get it figured out,” traveler John Wittle said. Another traveler, Juliana Sombrano, said, “We arrived four hours earlier today because they said the lines were going to be really long today.”
Airport officials said they were expecting about 32,000 travelers Sunday. The airport typically considers anything over 30,000 to be a busy travel day.
The congestion contributed to travel disruptions for some passengers. “American cancelled our flight. Didn’t tell us anything about what to do. Our bags are in a completely different city right now,” traveler Michael Vosicky said.
The extended TSA lines have also affected other Texas airports, including Bush Intercontinental Airport in Houston. TSA agents have not been paid in more than 40 days as the partial shutdown has continued, leaving some travelers sympathetic to workers.
“Obviously feel sorry for the staff who are going through everything,” traveler Michael Radomir said.
ALSO: One person critically injured after vehicle collides with motorcycle in NW Austin
On Friday, President Donald Trump signed an executive order authorizing TSA agents to be paid with Department of Homeland Security funds, while blaming Democrats for the airport controversy. “Some of them are needing money because the Democrats cut off their money. I blame the Democrats more than anything else,” Trump said.
The order came as House Republicans rejected a bipartisan Senate bill that would have fully funded the TSA and several other agencies.
At Austin-Bergstrom, travelers said they hope paying TSA workers will help speed up screening lines. “Hopefully it does nothing but continue to improve everything, everything that we’re seeing here,” traveler Mark Lupkey said.
TSA said agents could begin getting paid as early as Monday. The agency did not confirm how many agents have not been working in Austin since the partial shutdown began.
Austin, TX
Austin church to use 3D printing for new campus
AUSTIN, Texas — The housing market has cooled, with J.P. Morgan predicting house prices in the U.S. will stall. Despite the stagnate home price analysis, one Texas-based tech company is developing an unconventional way to build. An Austin church is tapping into ICON’s 3D printing technology to rebuild its church campus.
St. Mark’s Episcopal Church has been on its 8-acre property since the late 1950s.
“We’ve long been in this kind of predicament here as a congregation that we have these really deep-level structural problems with our buildings, and we’ve really never been able to imagine being able to pay for it,” said Father Zac Koons, the leader of the church.
He said costly quotas to repair aging infrastructure is one big reason they partnered with ICON to develop a whole new church campus.
“It’s not only a less expensive or a more affordable way to build, it’s also a more environmentally friendly way to build,” Koons said.
ICON’s “Titan” construction system will be used for this project, bringing the world’s first 3D-printed church to Austin.
“I think this will be a famous building,” said Jason Ballard, the CEO and co-founder of ICON. “I think it will stand for hundreds of years, and I think they’re just so pleased with what they’re able to get on their budget out of this building.”
The company says its concrete mixture can save future homeowners and businesses roughly 40% compared to conventional wood and metal frameworks.
“For the past two years, we have been working on a second generation of printer technology that is multi-story, easier to set up, easier to operate, even lower cost, even faster,” Ballard said.
Had it not been for the partnership with ICON, Koons said his church would not have been able to afford such a large-scale project.
“We wouldn’t have been able to do something as ambitious as we’re talking about doing without ICON, for sure,” Koons said.
He said they’ll break ground in about a year, with hopes to finish the first building by the summer of 2028.
Austin, TX
Goodwill Central Texas launches “Swap Your Shop” Challenge
Austin, TX — If you’re looking for an easy way to make a difference this Earth Day, Goodwill Central Texas has a simple challenge for you.
It’s called “Swap Your Shop,” and the idea is straightforward. Instead of buying something new, try picking up one secondhand item. That one small switch can help cut down on waste and reduce your environmental impact.
According to a 2023 report, if every U.S. shopper made that choice just once this year, it could reduce carbon emissions by more than 2 billion pounds. That’s like taking 76 million cars off the road for a day. It could also save more than 20 billion gallons of water and keep hundreds of millions of pounds of waste out of landfills.
And it doesn’t have to be a big commitment. Even buying one thrifted clothing item instead of a new one could prevent about 450 million pounds of waste each year.
So whether you already love thrifting or have never tried it, this is a good time to start. Swap out one purchase, give something pre-owned a second life, and see the difference it can make.
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If you do take part, you can even share your find on social media and tag @austingoodwill.
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