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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 The new version, a successor to a limited production vehicle originally made from 2008 to 2012, has delayed production multiple times, but is available to reserve on Tesla’s website for an initial $50,000 reservation.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

Storms dump small hail throughout Austin area Saturday

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Storms dump small hail throughout Austin area Saturday


AUSTIN (KXAN) — Small hail peppered the Austin area as strong thunderstorms moved through Saturday.

A few of the storms dropped rain and up to pea-sized hail in San Marcos, Dripping Springs and the Austin metro area.

A Severe Thunderstorm Warning was issued for Williamson County around 8:15 p.m., and then canceled shortly after. However, it was enough for the Two Step Inn music festival in Georgetown to cancel shows for the rest of the evening. Event organizers say the festival will run as planned Sunday.

KXAN’s First Warning Weather team is monitoring the storms. We will update this post as the evening continues.

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Abbott unveils monument dedicated to Texas Revolutionary War soldiers

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Abbott unveils monument dedicated to Texas Revolutionary War soldiers


AUSTIN (KXAN) — Governor Greg Abbott and the Texas Society Sons of the American Revolution unveiled a new monument at the Texas State Cemetery on Saturday, dedicated to Texas Revolutionary War soldiers.

“We must educate every generation about why it is that America grew from a tenuous 13 colonies into the most powerful country in the history of the world,” said Governor Abbott. “This monument here is an enduring testament to the heroes who fought for the freedom that is unique to America.”

The monument was dedicated to 69 soldiers who fought in the American Revolutionary War and later settled in Texas, according to a press release.

Among those that were honored, Abbott recognized:

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  • José Santiago Seguín, grandfather of Texas Revolutionary hero Juan Seguín.
  • Peter Sides, who fought in the 2nd Battalion of the North Carolina Regiment of the Colonial Army, and was later killed in the 1813 Battle of Medina, fighting for Mexican independence against Spain.
  • Antonio Gil Y’Barbo, the founder of Nacogdoches.
  • William Sparks, who fought as a mounted rifleman in the American Revolution and later settled in Texas. He had two sons and two grandsons who fought in the Texas Revolution.

“This year marks the 250th anniversary of the American Revolution, which not only gave freedom to the British colonies of North America, but inspired movements for freedom and liberty all over the world,” said TSSAR President Mel Oller. “Texans played a role in the war too, and it’s important to recognize them, and the sacrifices they made for our freedom.”

At the monument unveiling, Abbott was also inducted into the Sons of the American Revolution and received its Silver Good Citizenship Medal.



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Trinket trade boxes on the rise across Austin

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Trinket trade boxes on the rise across Austin


AUSTIN, Texas — Inside a green wooden box mounted to a steel fence, a treasure trove of trinkets awaits. Just a few miles north is another goodie box, this time covered in leopard print and inside a craft studio. Farther east, a simple white trinket box sits mounted on a wooden pole, decorated with stars and a crow saying, “Thanks for visiting!”

These boxes, filled to the brim with stickers, keychains, jewelry, collectibles and more, are known as trinket trade boxes. Austin has seen a sudden surge in these boxes over the last few months, and despite their varying locations, one sentiment ties them all together: trinket trading is a fun way to bring a bit of joy to the community.

“Little things that bring people joy is so important right now, which I think a lot of us can agree with, and I’ve seen all sorts of people use the box so far,” said Anna Arocha, whose trinket box is in The Triangle neighborhood downtown. “Little kids and all the way up to people in their 50s and 60s, I’ve seen stop by.”

Trinket trading operates on a simple system of take something, leave something. People can swap a toy car for a lanyard, a bracelet for a Sonny Angel, or a Pokémon card for a rubber duck.

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“There was somebody who was just walking by with their kid in the stroller, and there was a finger puppet inside of the box, and I saw her swap something out and walk away with the little finger puppet,” Arocha said. “And it was just such a cute moment to see a mom and a kid enjoy something like that.”

Arocha put her crafting skills to work and made her green wooden box in just one day using craft wood and a wine crate last month. Amy Elms opted for a small, white junction box to ensure it could withstand harsh Texas weather. Ani’s Day & Night on East Riverside, which has a large outdoor space for picnic tables and food trucks, gave Elms permission to place her trinket box on their property in January.

Ally Chavez used her own property, Create! Studio ATX on West Anderson Lane, for her leopard-print box that opened in March.

“There wasn’t a ton up here in the north area, so we just kind of wanted to put it together and put it up for the studio just as a way to connect with the community in a way that no one has to spend money,” Chavez said.

Since their debuts, all three trinket boxes have garnered thousands of interactions on social media. When Arocha posted about the opening of her box in March, she racked up 100,000 views on TikTok. But with the excited comments came a bit of negative attention, and her cameras caught a thief trying to take all the trinkets. Arocha now locks the box at night.

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“If somebody wants to do that, so be it,” Arocha said. “We can start over, and if the joy that it brings outweighs that every time, I think it’s worth doing.”

Arocha, Elms and Chavez’s boxes are now registered on a website called Worldwide Sidewalk Joy, alongside all the others in Austin and across the globe, as trinket trading grows to become a kind of new, modern geocaching.

“Honestly, it’s been I think even better than I expected so far,” Elms said. “I’ve had people… visiting Austin from out of town, and they’re making it a stop during their visit. I’ve also had multiple people reach out to me to ask how they can start their own trinket trade box, too, which I really love.”





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