Elon Selfishly Takes First Solar Roof For Himself!


– Hey what’s up everyone,
thanks for joining me here today on Teslanomics Live,
I’m your host Ben Sullins, and what we do here is we take a look at the previous week’s
news related to Tesla, or other things similar to
them, like the solar industry or the EV industry as a whole, and these tend to go a bit
longer than my normal videos, so if you’re watching this
after the fact just be aware this’ll probably be close to an hour, and a lotta that is because at the end, or close to the end of the
video, I do a live Q&A. So I actually received over
50 questions just this morning from all of you and everyone
else on my email list, which you can get on at teslanomics.co, so if you wanna get your
questions in in advance, go there, and then I’ll shoot
you a note in the morning, and then I sift through
’em and parse ’em out for the live stream here. So first and foremost, some
upkeep, some housekeeping items for the show, or for the channel. If you didn’t notice, now I’m
doing three videos per week, so Monday live news,
Wednesday deep dive analysis, like the typical stuff
you’re used to seeing here, and then Friday more fun,
interviews or vlog-style videos, or last week I attempted to be funny, and some of you got
it, some of you didn’t, but I appreciate everyone that commented and liked that video
’cause it was fun to make. Other than that I have one
other housekeeping item, and that is that the referral
program, for me anyways, right now is maxed out, so
those of you that have submitted your info to get the referral code, and you’ve got the email,
I’ve got maybe 10 or so of you that have said, hey, it’s not working, that’s because level one
is currently, I’m sorry, level two is currently not available. You can see, I dunno if I can
see that on the screen there, but basically as soon
as level two opens up I will email all of you
guys that submitted it, and I’ve changed it over
to be a wait list now. So if you’re not on that, or if you’re lookin’ to buy a
Tesla or know somebody that is you can get on that wait
list at teslanomics.co/td, and then what it’ll do is
it’ll just put you in a group that, as soon as I have the
referrals available again, you will be notified immediately so you can get that discount, and then the free
supercharging, of course. If you do have questions
that you want me to answer during this session here,
please hold them until the end, I’ll let you know. I need a bell or something, but I’ll have that close to the end after we get through
all these news segments, so let’s just dive right into it. First and foremost, we
have some news here about, and that is not the right page, we have some news here about
Tesla is looking to offer up 1.5 billion in bonds to fund the Model 3. And the idea here is that
“Tesla intends to use “the net proceeds from this offering “to further strengthen its balance sheet “during this period of rapid scaling “with the launch of the Model 3, “and for general corporate purposes, “the company said in
a prepared statement.” So I like this, I’m
excited about this because I think that this is
gonna really just ensure that things go smoothly with the Model 3, and that we do get our cars on time, which leads to us switching over to a more sustainable form of transport, which also helps grow the EV industry, which obviously I, and many
of you, want to see happen. So all good stuff, we
knew that they didn’t have enough money to do it on their own, and so this is an interesting
development that’s come out, so I’m excited about this,
and hopefully that means that we’re all gonna start
getting and seeing Model 3s all over the road soon. So the next thing is that
the Business Insider wrote this hit piece about people
canceling their orders for their Model 3. And this is true, so
there was an earnings call on August 2, just a few days ago, and on the earnings
call they mentioned that they had, at one point in
time, 518,000 reservations for the Model 3, and that now
currently, as of August 2, they had 455,000, so the
difference there is 63,000, and that seems like a lot. And if you think about it
though, you’d be expecting people to have a higher cancellation rate, I think about 5% is typically
what you would expect for bad debts on most balance sheets, and so here you’re a bit higher than that, but that’s to be expected,
people are gonna be waiting 16, 18 months for a car, it may not have the heads of display, or
whatever the killer feature is that they are interested in,
whatever the case may be. So I think this was kind of a hit piece, I think the reason you
are seeing this is because it’s sensational, it’s very click bait-y, which I am not above that, as
many of you have pointed out. But I did do a response article here, and this is on my LinkedIn page, which you guys are welcome
to follow me there, I haven’t put it up anywhere,
but if you just search for me on LinkedIn you’ll find it there, and I’m actually gonna be posting
video there sometime soon. I dove into the data a little bit, and I like how Elon
framed it, from his quote from the earnings call he said, “It’s like if you were at a restaurant “and serving hamburgers, and there’s “an hour-and-a-half wait for hamburgers, “you really don’t wanna
be encouraging people “to order more hamburgers.” And that’s very true, this happens, you go to Starbucks, or a
restaurant, or whatever, it’s an hour-and-a-half
wait, you go somewhere else. It’s not that, the restaurant is fine, the restaurant is like
look, we can’t even fulfill all the orders we have. Now in a couple years if
their cancellation rate, we’ll say, or the bad debt
ratio, was similar to this, that would be more of a concern. So here’s essentially
what the difference is, I tried to visualize this,
and I love bar charts ’cause they’re simple
and easy to understand. There’s before and after, and you can see there’s really not that
much of a difference. Sure, 63,000 cars is a fair amount, it’s a few quarters’ worth
of current S and X sales, so fine, but overall they
still have this massive backlog that they have to get
through, which is billions, and billions of dollars worth of orders. So here’s the delivery ramp, ’cause I wanted to put
this in perspective again, and this is my estimate for,
even I updated this estimate for this specific article. And here’s what the
delivery ramp looks like, it’s that S-curve topping out towards the end of the year around 5,000, and here’s what it looks like afterwards, it’s the exact same. So really, in terms of
what this means to Tesla, it doesn’t mean hardly anything. In fact, they’re getting,
on the same earnings call, Elon said that they’re currently
receiving 1800 new orders, on average, per day. So in about 30 days they’ll
make back all of those 63,000, so to me, the reason we’re seeing this is about this chart here,
and this chart is all about the hype cycle of new technologies. And so what you see is you
have the technology trigger, bam, Model 3, whoo, everyone’s
talkin’ about Model 3, it’s this peak of inflated expectations. And then you start to see a
bunch of negative press come out as maybe some of those
expectations don’t meet what people, all the hype. I believe, after taking
a test ride in a Model 3, and having seeing it up
close, and touching it, and all those, that it’s
actually gonna exceed a lot of expectations, which
is maybe hard to believe. And maybe I’m biased and all
that, just like we all are in one way or another, but point being, I think what we’re seeing
here is the negative press come out after the peak
of our expectations, and then we’re gonna have
this trough of delusionment, and then we’ll have this
slope of enlightenment then plateau of productivity. I think this is essentially
what we’re seeing right now when you see hit pieces about the Model 3, because the Model 3 is a fantastic car, and unless somebody’s ridden in it and actually seen it in person, I would question anybody
that writes about it that hasn’t had those experiences. So that’s I think really
what’s goin’ on there, so anyways, that was my bit on the Model 3 and this kind of thing
that’s happening right now. Now, one of the things I do on the show is I have my long and my short,
and so the long is the thing that I’m betting on,
this is the thing I like, the short is the thing I don’t like, I’m borrowing these terms from the markets when we talk about betting
on or against something. And here we have my short, and my short is Elon is building a Hyperloop. I’ve talked about this before, and the reason I’m shorting
this is, a couple reasons, first off, he is too busy. He needs to stay focused
on Tesla and SpaceX, not to mention The Boring
Company is already here doin’ their thing, so
that’s another company, plus Neuralink, plus
probably a dozen other things that are already in the works
that we don’t even know about. He needs to stay focused, is my opinion, that’s my feedback to him. And so I’m short on it because of that, because I feel like this is
gonna take focus away from Tesla, which is really,
needs his attention right now to succeed, and so there’s that. Then I think that this is bad because it kills competition, and
in fact even in the article, it says that, “A person close to Musk said “his plan is to build the entire thing, “including the Hyperloop system. “Musk also holds a trademark for Hyperloop “through SpaceX, which
could be used to prevent “other companies from using
the term, like Hyperloop One.” So see, this goes basically against what he had previously stated,
that The Boring Company would be digging tunnels, and that he didn’t have enough time, he was too focused on SpaceX and Tesla to focus on any other
company like Hyperloop, even though he loved the technology. So they open source the patents, they encourage other companies to innovate and actually make this product. And there are, Hyperloop
One just completed a really good test, and
a lotta businesses are, investment and everything else,
is coming into this arena, and I think Hyperloop is gonna
be awesome when it’s here, but I don’t like that Elon is saying that I’m going to do all of it, because that’s gonna hurt competition, and I think it goes against
what the initial intent was, and I just don’t think it’s a good move. So I’m shorting this, I
do wanna see Hyperloops, in fact I have a video coming out. It’s funny, I’ve already recorded a video diving into what Hyperloop
is, and how it works, and who’s doing it, and how
it got started, and all this, and I have to keep putting
it on the back burner because these things keep changing. So if I put a video out in two weeks that didn’t include this bit of detail, you guys would be upset, as you should be, so anyways, there’s that as well. So Elon, stop making Hyperloop news so I can put out my damn
video, but that’s an aside, that’s an aside. Okay, so the thing I love this week, and the thing that I’m
super excited about, the thing I’m long on,
is that Elon, well Tesla is actually finishing
their first solar roofs, and this news comes to us, I’m
using Bloomberg’s page here ’cause I think they do a great job, but mostly it came from the earnings call. And so what they said on it is that, “Tesla has completed it’s
first solar roof installations, “the company reported Wednesday “as part of the second
quarter earnings report. “Just like the first Model 3 customers “who took their keys last
week, the first solar roof,” which by the way, there aren’t keys, “the first solar roof
customers are Tesla employees. “By selling to them first,
Tesla says it hopes to work out “any kinks in the sales
and installation process “before taking it to the
wider public audience. “Elon said, ‘I have them at my house, “‘JB has them on his house,'” he’s the chief technology officer. “‘This is version one, I think
the roof is going to look “‘really knockout as we keep iterating.'” So I love that they’re doing
this because it’s expanding into new markets, I think
it’s gonna be a great product, although it’ll take
decades before it becomes really common practice. I was thinking about waiting
on my solar roof, or I’m sorry, on my solar panels for this,
but I decided against it. So here you can kinda see, this is one of the
completed rooftops there, it looks great I think, I
think it looks fantastic. So I’m really excited about this, I think that they’re gonna
be doin’ a great job here. And here’s an interesting one, can you tell which ones have solar cells, aw sorry, it looks a little
bit grainy on mine, so no way. But if you look at the data on this, and I’ve done some analysis in the past before we had details on
it, you can be guaranteed I’m gonna be doing a lot
more analysis on this once we have more detail, but right now there aren’t a ton of details out there, so here’s what’s going on with this. If you look at the Tesla solar
roof as a complete package, meaning a person would
be buying a similar roof, with similar materials, plus
conventional solar panels, that’s what this chart represents, that’s what the big blue is there. So the Tesla solar tiles come
out to be the cheapest option compared to all the others here, if you also were to get
solar panels on them. So that’s great news, but I will say, when I went in to look at it for my house, it was something like $70,000 and I live in a 1,000 square foot home, so it’s a small place. Whereas my Tesla, I’m sorry,
whereas my solar panels I got were $20,000 before the
incentives and all that stuff, so it’s gonna come out to
be about $14,000 for me. So yeah, I mean sure, it may be cheaper, but you’re still talking
about a major upgrade to even a small home, so
the adoption, I believe, is gonna be pretty slow. But this is my long for the week, I’m really excited about this because they’ve talked about it and now it’s here, and if you haven’t looked into this, I would definitely go check
out on the Tesla website, you can see the unveiling of it and all those kinda things,
so that’s kinda fun. Alright, so in some other news, this is actually very recent,
and this is the reason why I do this show live, is
because things happen with Tesla so quick. So today Moody’s announced
that they are assigning, they’re changing the
rating, it’s a B2 corporate family rating to Tesla,
and issue a stable outlook following the company’s
issuance of new notes that sit in a junior
position to the 1.9 billion secured credit facilities,
those are the bonds. “The rating agency also
set a speculative grade “quality rating of SGL-3.” Moody’s wrote, “As a
result of the rapid ramp-up “of the Model 3 production,
and the significant increase “in capital expenditures required
under the production plan, “we expect that Tesla will
remain free cashflow negative “into 2019. “Given this free cashflow outlook, “the uncertainties
associated with the launch “of the Model 3, and the
potential cash requirements “necessary to cover the maturities
of its convertible debt, “Tesla will face large cash
requirements through 2018. “The liquidity resources
available to the company “provide moderately adequate coverage “of these cash requirements. “This is reflected in the
SGL-3 liquidity rating. “Tesla’s principle
liquidity sources include “the company’s 3 billion in cash, “proceeds from the proposed note offering, “and 900 million available
under its 1.9 billion “secured revolver. “Without the proceeds
from the note offering, “Tesla’s liquidity position
would be stressed.” So yeah, lots of detail
there, but this is good news. Moody’s is giving them
a good, stable outlook, so that’s something that I think, if you’re paying attention
to this side as an investor, this is good news for you. So anyways, there’s lots more detail here, and the link to this
is in the description, along with links to everything
you’ve seen here today, as well as of course things
like my website and all that so you can get on the email list. Now, I wanted to give you
guys one little teaser of something I’m working on, I hope to have this out
next week, and from there you guys can figure
out what to do with it. But what this is, this
is sort of a configurator that I’m building, and what I have here is essentially a way to guess
what the final cost will be. The way this is gonna work is you choose your delivery quarter,
and the final version won’t look like this, it’ll
have a lot more little bits of information to
tell you what’s goin’ on, but the delivery quarter here is, I’m suggesting you use
Tesla’s delivery estimate that they’re giving Model
3 reservation holders now, which if you don’t know how to get that, go to the Tesla website,
tesla.com, and click on Model 3, and then there’ll be a link
there, it says something like check your reservation
delivery date, or something. Use what they give you, and
of those spanned quarters, pick which one you hope for,
and from there you choose that, so for me that would be 2017
Q4, you choose the region, and essentially all this is,
for me is, if you’re in the USA what I’m gonna do is use
the forecast model I built to see when I believe
Tesla will hit 200,000 cars sold in the U.S., and then that
will change what tax credit I show on the following
page, the final printout that you get. Then you choose your upgrades, whichever ones you want there, and all of these have
prices associated with them, which I’m not listing here,
but will be on the final page, then you choose whichever
color and wheel type. So if you want blue with the aero wheel you can change there. If you guys are wondering, me and my wife, I’m not a fan of the aero wheels at all, but our plan is to get the solid black with the aero wheels, and then my hope is to put my 19-inch turbines from my Model S onto the Model 3, so I won’t
actually have the aero wheels, but I’m not gonna pay 1500
bucks extra for the sport wheels when I could just put
my turbines on there. The reason I’ll be doing that
is because I should be getting the 21-inch Arachnids for
my Model S sometime soon. So anyways, this is a little teaser, and the final results here
will be you’ll click Show Me and then it’ll be a
really nice printable page with a breakdown of the cost, including, really, the major bit, it’s funny that it’s just
one line on the result, but it took me two-and-a-half
days of working on the forecast model to come up with, what I believe will be, your tax credit if you live in the U.S. So there’s that, stay tuned
for that coming out next week, and if you’re on my email
list, I’ll probably send this to you in advance of the video
and everything coming out, so make sure to go get on
that at teslanomics.co, you can click the Join button
or one of the pop-ups there will probably ask you for your info. Cool, so that’s all I
have for the News segment, it’s time to move onto
the Q&A, and the Q&A, we’ll get started with
a question from Carl. Carl asks, “I reserved before the Model 3 “was shown on stage, I’m
guessing I was among the first “70,000 or so to reserve. “I only make 60,000 a year and
really need the $7500 credit, “I really want the dual motor Model 3, “does this mean I miss out on the credit?” So thanks for the question
Carl, and I can’t answer this specifically because I
don’t know where you live, and a couple of the other
bits like if you have any, I assume you don’t currently have a Tesla, but if you live outside the
U.S., or if you live in the U.S. and those kinda things,
so it’s gonna be hard to really know. But I will say that if you are, guaranteed you need that $7500 credit, there are two things to consider. One is I probably wouldn’t
go with all-wheel drive unless you absolutely need it, like you live in a snowy
place or things like that where it’s really gonna
add a lot of value. Like me, I live in Southern
California, I don’t care, I’m happy with rear-wheel
drive, I want my car now. But second off, the fact that
you only make 60K a year, and I don’t mean to say only
60K like it’s a bad thing, but your tax liability,
meaning how much taxes you actually owe based on your income, may not qualify you for
the $7500 credit entirely, so you probably should
talk to a tax professional about that, whoever does your taxes, and see how much you
owe, because I don’t know what kind of exemptions
you have, and deductions, and things like that. But in the end if you
don’t owe $7500 in taxes, then you aren’t gonna get the credit, or not the full credit,
you’ll get whatever the amount the difference is, but they’re
not gonna write you a check for the difference. So know that, that when you order the car, when you go to actually buy
it, it’s not like, hey here’s, let’s say the final price is 45,000, they’re not gonna say, okay cool, and we’ll take that 7500 off,
it doesn’t work that way. You’re gonna pay the 45,000 and then you’re gonna not pay
that 7500 in on your taxes. So you should talk to a
tax professional for sure, and make sure, they
understand how it works, and they can look it up,
the IRS has good guidance and all these kind of things, a lots of people are doin’ it. So yeah, thanks for the question, and let me know if you find out actually, shoot me a note on my website, or on Twitter is probably
the better place. Angel asks, “I currently
only have the option “of charging with a normal
120V outlet at home, “and sometimes at work. “I drive about 110 miles per
day, is this set up doable, “or should I just hold off
on ordering the Model 3 “until I can set myself up “with a better charging situation?” So, I don’t know where you live Angel, but yeah, you’re gonna want
something more than that, especially if you’re driving that much. 110 miles per day really isn’t, you have to worry about your range, but charging overnight
with 120 volt outlet, I don’t know if you’ll get
that all back, what is it, it’s three miles per hour
or something like that? So yeah, I don’t think
that’ll be enough for you. Yeah, so there’s that, so be aware, and you may be able to use a supercharger, which you’ll have to
pay for with a Model 3, but will be reasonably
cheap, so there’s that, or yeah, if you can find
a different place to live, or something like that
where you can charge. And some other places
too, I have a YMCA by me, which is a gym, and
there they actually have free EV charging, there’s solar panels, it’s community kind of stuff, so yeah, I would probably look for
a different situation, but I wouldn’t wait on
ordering your Model 3 if you want one anytime soon. Thanks for the question. Daniel asks, and I’m
gonna do my pregnant pause drink of water as I read it, “Can I transfer a second Model
3 reservation to my uncle? “Will he be able to utilize
the $7500 Fed credit “assuming I take delivery early 2018?” So here’s the thing, no you cannot, and I actually have a video
coming out this Wednesday where I interviewed a lawyer, and we looked at the terms of service, and we talked in good detail about what the situation is, ’cause
I’ve got this question a lot. You can’t transfer it to him unless you had written
permission from Tesla, which I doubt they would give you, and only the person that takes, that is the actual purchaser of the car is the one eligible for the $7500 credit, so if you have two, that
means you’d be getting $15,000 in credit, but then again, it goes to how much money
do you make per year and can you actually use that full credit. So yeah, there’s some
things to consider there, again, talk to a tax
professional for sure about that. But the sum of it is, in the end, there’s nothing that
wouldn’t let your uncle pay the car payments or whatever, and have it your name
or something like that, or you could technically sell it to him immediately after taking
delivery, however, that $7500 credit is still
only available to you, and if you actually did sell it to him the IRS may not honor that because they could look at it and say that the point of you
purchasing it was to resell it. So yeah, there’s a lot to consider there, but yeah, stay tuned for this Wednesday, we’ll have an interview with a lawyer and we get into the
details about that stuff. Thanks for the question. Clement asks, “Keep up
the great work Ben,” whoo hoo, alright, will do, thanks. “This is a question from last week, “do you think the standard
and long range Model 3 “have physically different battery packs “and not software upgradable? “I saw a report that the
weights of the two versions “may be different.” I think they will all have the same, and be software upgradable, but I don’t have any details on that. The logic I had is that it’ll
be simpler to manufacture, and then you’ll be able to
make more money down the road. So I think, if I were Tesla, and I guess I’m not a manufacturing guy,
so someone could totally explain this to me as I’m wrong, but it sounds like that
would make sense, so yeah. Kevin asks, “I’m not sure if
I should get a new Model 3 “or a used 2014 Model S. “Can you explain the difference “and which is better and why?” Yes, I have a video on
this, if you go look under my comparisons,
I have a whole series about Tesla comparisons, and
you can go check that out, where I go into detail, but
that was before the Model 3 details were out. But here’s what it comes down to for me; do you want autopilot, and what is the storage
that you need for your car? If you’re happier with the
smaller car with less storage, then the Model 3 is great,
if you want a bigger car, like a family car, you need
to put more stuff in it, Model S is your better option. If you look at the actual
prices of a used Model S compared to a new Model 3, they’re really on par price point-wise, so price shouldn’t
really be a factor here, you should be able to get both of them for about the same price. So besides the space and
storage requirements of the car, the next big thing would be autopilot, because you may not be
able to get a used Model S with autopilot for a similar price that you’d get a new Model 3. If you drive far and often,
that may be something that you would wanna consider, but if you don’t care that much, if you’ve never had it, for
example, like I haven’t, then you kinda don’t
know what you’re missin’, so it might not be a bad choice. Howard asks, “The Model 3
has a weight of 3800 pounds “and the distribution is about 50/50, “how will it run in
Chicago weather with snow “and assuming that I get snow tires? “Or should I wait and get the dual motor “all-wheel drive version? “Thanks, love the show and videos.” So thanks for watching Howard,
thanks for your question. So I’ll put a disclaimer
that I’ve not driven a Tesla in snow, but my friends in Utah that have say that the rear-wheel
drive is extremely dangerous, even with good snow tires. There’re probably other folks out there that live in colder climates
that could attest more to this I’m sure, maybe on Tesla Motors Club or any of the other forums you can probably find threads about it. I would probably, I would advise getting the all-wheel drive
version, just because, from my friends that
have had rear-wheel drive versus all-wheel drive Model
S’es, it’s a big difference. But I’ve also heard from
other folks that really tires are the winners there, so I would maybe do a bit more research there,
but my idea would be to go with all-wheel drive. Thanks for the question. Ryan asks, “With the Model
3 officially being released “when can we expect to see
an official walk-through “of what the configurator looks like?” Well, there are some leaks from employees that actually have it online,
and the one I’m working on is gonna be strikingly similar to that, but yeah, I guess once
you actually get an invite is when you can walk through it. But a few other people have created them, and I’m working on one,
mine is kind of different because I’m trying to estimate the tax credit that you’ll get, but yeah, stay tuned for
that in the coming weeks. And if you’re on my email list, again, you’ll be getting early access to that. Bob asks, “Is the frunk on
the Model 3 large enough “to hold a donut spare tire?” No, I do not believe so. If you take a look at
my vlog from the event, I got a really good
clean shot of the frunk, and I don’t believe you could
fit a spare tire in there. But actually this is a good question, I don’t know if you get
free roadside assistance with the Model 3, you do with an S, so anytime you have an
issue you call them, and I’ve had to do it a couple times, and they’re on point,
they’re there really quickly. So thanks for the question. Jeff asks, “If I just want a large battery “and rear-wheel drive and
the 5 grand interior package, “live in Florida, when is the
approximate delivery date? “Also approximately how many reservations “are actually from the U.S.?” Yeah, great questions. I can’t speak to the how many
reservations are from the U.S. But I would say for your
delivery date, yeah, go to the Tesla website,
tesla.com, click on Model 3, and there’s a thing down there
where you can click on it and get your estimated delivery date, so go check that out. Clinton asks, “I’m 6’5” and I
barely fit into the Model S, “will I fit into the Model 3? “I can’t find the
measurements for the Model 3.” If you go to, I believe Tesla
has them on their website, on tesla.com, under Model 3. If not, you can go to
tesla.com/presskit, all one word, and they have very
detailed specs, as well as I think I posted them on
one of my videos last week, so go check that out. But yeah, being 6’5″ it seems
like it’s gonna be harder, pretty hard to fit in there. But I believe that the
headroom, maybe I’m wrong, but someone told me that it’s
actually more than the S, so you may be okay, I dunno. I do know some folks at
the event in Fremont, and we got to do the test rides recently, they were pretty tall and it was fine. In fact, another YouTuber,
MKBHD did a thing about it, he’s a pretty tall guy, so
you can go check his video out where he talks a little
bit about that as well. Thanks for the question. Andy asks, “Any word
on leasing the Model 3, “because the technology
is changing so rapidly.” Yeah, it’s a great point. The ones I’ve seen so far,
the pictures, or the images of the configurator did
not have a leasing option, but it would seem unlikely
if they didn’t offer a lease once they start offering it to the public. So yeah, I assume it’ll be
coming, and hopefully soon, yeah, I’ll probably lease it as well. “Do you think that it is worth
it to suggest your local town “to install supercharger stations, “or let Tesla decide
best location instead?” Thanks Eric, so there was more to this, and I couldn’t fit it
all on the screen Eric, so thanks for your question and your support again and again. So yeah, I think this is
not a horrible thing to do, but I do believe, I
forget who told me this, but you can contact Tesla and
ask about destination chargers and if you get a business
that wants to install one, I believe Tesla will provide
the equipment for free. And I don’t know exactly
who pays for what, but Tesla is really trying to build up a destination charger network. So whether or not you
can get a supercharger is a different story, but I do know that there is some way to contact Tesla to get them to install
a destination charger. So if you could talk to a
business owner that wants one, like a hotel, or maybe a
restaurant, or something like that, that actually would be a
good way to go I think. So yeah, let me know how
that goes, by the way. Lewis asks, “Are the orders
for the larger Model 3 battery “being filled first?” Yes, “If so, is it
possible that you could be “in a better position to get a full rebate “by taking the larger battery?” Yes. “My delivery date currently shows May 2018 “and I’m in Dallas, Texas.” Yeah, May 2018 not too bad, you outta get the full credit still. So yeah, absolutely,
so that’s the strategy, so when you go to the website,
you can go to tesla.com, and you find the Model 3 page, you’ll see, after you’ve logged in and you have your reservation in there, it’ll show you your different options, and so the first
production ones are 49,000, that’s the larger battery
plus the premium package. So that’s 44,000 for the battery, or the larger version with the battery, and then 5,000 for the premium package, so yeah, that’s exactly how it is going. And yes, that would
give you a better chance because you’ll get your car earlier. Thanks for the question. Eric asks, “What you think
will gone have for those “who make their first
reservations march 31, 2016, “free supercharging or something else?” Oh okay, what is the gift,
what is the special something that Elon said. I still think it’s gonna
be free supercharging, others have said a free
all-glass roof, I dunno, I think some of those things
are bit harder to price out, but supercharging, believe it or not, more than 90% of the
time people do not charge at the supercharger. So, and this is from an
outsider’s perspective, I don’t have data from them on this, but I’d love to see that,
what is the actual cost of giving a person free supercharging? My guess is that it’s incremental, that it’s a tiny, tiny amount,
because 90+% of the time they’re not going to using it. So that’s my guess, that’s
why I think supercharging will be the free thing,
but I don’t think we have an official word yet,
unless maybe Elon tweeted it during the session. Okay Rick asks, “I’m
new to the Tesla thing, “made my deposit in March last year “and I have never heard
anything from Tesla itself “about when we could expect a
change to order our Model 3.” Yeah, so Rick, you should
have a confirmation letter from them, an email, and I don’t know if you have to log in
to your Tesla account, or what the deal is, but
yeah, go to tesla.com, click on Model 3, and there’s a link there to see your estimated delivery date. So once it becomes your turn, and that’s based on the date
you ordered and location, then you will be invited to configure, so yeah, you should be hearing
something sometime soon if you placed it early last year, but you can go to the Tesla website and figure that out from there. Okay, whew, that was 15 questions, I got many, many more, but a
lot of ’em were very similar, so thank you everyone
for submitting those. Now what I’m gonna do is I’m
gonna go to the chat there, and if you have a question
you’ve been holding onto, go ahead and ask it now. See I need a bell or something, I need a ding, ding, ding, ding, ding, it’s time for questions. So yeah, go ‘head and leave those there, and if you wanna make sure
that I answer your question use the Super Chat feature, there’s a little dollar sign there, you can use a buck or two and put that in, and I’ll make sure to see that. So let’s take a look here. “What is the current price
of the Tesla Model 3, “and will the cost change
when ordering from Europe?” So the current price is
35,000 for the standard, 44,000 for the long range,
and there’s a couple hosts of options that you can get, and so that will be converted
over to Euros I assume, and depending on what’s goin’
on with the currency markets, yeah, the cost may change. It may be cheaper for you, it may be more expensive for ya. And then, okay here we go, “What color Model 3 will you choose, “and do you recommend?” So I’m gonna go with black, this is really my wife’s decision, and I support it because we
have a white Model S right now, and black, it’s a beautiful color, this black metallic they have, and also, that’s the
color that’s included. Down the road if I want
I could get a wrap, or get a paint, or something else. So yeah, I’m gonna go with black, and I am gonna go with
the aero wheels for now, just because I want to put
my Model S wheels on there once I get the new Arachnids, even though I hate the aero wheels. Thanks for the question. Andy Mack, “When would
we see a new overhaul “or new design of the Model 3? 2021?” I think it’ll be awhile, I mean, the Model S, besides the
front fascia changing, it really hasn’t changed at
all from a design standpoint, and so that’s goin’ on
nine-plus years I believe, last time I talked to Franz about it. So yeah, I think it’ll be awhile. Yeah, and thanks for the support. Hey King’s Throne, thank
you so much for the support, and thanks for watching. If you have a question or anything make sure to leave it down there. Oscar Braz asks, “What
about supercharging V3, “M3 support with 2170 cells?” So yes, I believe the Model
3 is doing the 2170 cells, there was somewhere,
someone confirmed that, and I saw it on Teslarati,
or a few of those. And then, “What about
the supercharger V3?” Yeah, I’m hoping that’s coming, I really am hoping that’s
coming, because right now supercharging can take quite awhile, and I would love for it
to be something that was 50 times faster, or whatever. Yeah, good question, thanks. Johann Kle-pan asks, “Does
the Model 3 have the same app “like the Model S and X
with all the cool features “like pre-heat and pre-cool, or summon?” Yes, I believe it will because that’s how you actually unlock the
car, is with your phone. There is something else there that is, a keycard you’ll get to open
it, but that’s a backup, the phone will be your primary way of getting in and out of the car, so guaranteed it will be in the app. I obviously don’t have
it, but yeah, I assume, and as soon as that is available, as soon as I get mine I will certainly, I was seein’ if the second level of the referral program is ready yet. They keep telling me very soon, very soon. Let’s see, who else, who else? Oh man, too many questions,
I can’t follow along. “Is the 6.1% import duty
tariff from NAFTA going away?” That’s a great question, I don’t know. “Do you think the government
is going to change “the way we get taxed for roads?” So Scott, I assume you’re in
the U.S. with that question, yes, I do think this will change. So for example, in California
there is now a $100, or I’m sorry, after 2020 all
EVs will have a $100 a year fee which goes straight to the
Transportation Department to work on roads, and that kind of thing, because yeah, gas tax has basically been, and emissions tax and things like that, have been a big way that
they’ve generated revenue, and so without that then
yeah, they need something. So yeah, there’s that. “Have you supercharged your car yet?” Absolutely, yep. “What was your experience like?” It was awesome, I actually
have videos about it. Yeah, supercharging
works great, you pop in, you plug in, and you go. And now the app, so if you’re on a trip, this is something that people, it’s funny, someone was like, you need to make an app with the superchargers on it. Well, the car has that already,
and so the way it works, maybe I should do a basic video like this for people that don’t have a Tesla, and so they know what to expect, but the way it works it’s like let’s say I wanted to drive to Boston. I could get in my car,
click Navigate to Boston, and it will plan my route
using superchargers, and then each one, it actually
lists how long I’ll spend at that supercharger before
I can continue on my trip. And then the way it works is
you get to the supercharger, you plug in, and you go off
and get a coffee, or eat, or something like that, and
then it pops up on your phone a notification like, hey,
your car is ready to go, you can now take off. And then if you go fully,
if you charge fully and you leave your car there, that’s when they start
dinging you saying, hey, you have five minutes
to get back to your car, otherwise we’re gonna start charging you something like 40 cents a
minute, I forget what it is. But yeah, so that’s how that
works, and it works well. “Will the Model 3 come
with the Summon feature?” I’m guessing yes, I haven’t
seen that anywhere though. “Any idea about import
taxes into countries “outside the U.S.?” I do not know actually, so yeah. “Why doesn’t the Tesla screen support “Car Player Android Auto?” Yeah, that’s a great
question, I kinda wish it did. I wish at least, that the
voice commands would work into my phone, like I could
have Siri do something for me from there, so yeah, there’s that. Alright, Graham Frazier, sorry
if I’m mispronouncing that, has a great question here,
and thanks for the support, “Cost of Tesla solar
tile roof on a new house “versus just a tile roof with no solar, “and no taking into account
money generated from solar?” Yeah, so in my video
where I broke this down, and I’ll probably be doing
one again sometime soon, that’s kind of the thing, right? So let’s say you got a new
roof and you did not get solar, well you’re gonna be
paying for electricity, and so you can have that electricity factored into the overall
cost, and do that comparison, and that’s what I did. And in a lotta cases, or
at least the cases here in the U.S., it still comes
out to be a smokin’ deal, because electricity,
depending on where you live, can be pretty expensive here. So there’s a lotta
factors that go into it, but I do plan on doing some analysis, a deeper dive into that soon,
I just need more details from Tesla about the panels, or I’m sorry, about the solar roof, and the efficiency, and how much of it, and
that kind of a thing. So once we get there, once
we have more info about it, is when I’ll really start to dig into it. So thanks for the
question and the support. Let’s take a look, what else? John Turner, “Why do you
think they will update “the Model S interior?” Oh… Lost it, sorry. When do I think they will
update the Model S interior, I think was the question, I
totally lost it, my apologies. I don’t know, I think
that the Model S interior is pretty clean. Maybe they’re gonna go
through one in a year or two, which I don’t know how
great that would be, but it’ll be, there are
some things about the UI I wish they could change. For example, a lotta
the way that the icons and those thing look, the UI
itself could update tomorrow, I think the rest of the
car is pretty great, but there are some kinda
thick bevels and things, that it could be cleaner and nicer. So yeah, there you go. Suzanne Lee asks, “What’s the tax credit “for the Model 3, 7500?” Yes, that’s correct. I believe so, it should be. The IRS does list it, but yeah, it’s based on the size
of the battery I believe, so yeah, there you go. “Can Volvo compete with Tesla?” Yeah, absolutely. I think Volvo, if they
really, and they’ve stated they want to go full throttle here, could seriously compete
with Tesla, so there you go. Chris Currin, “Yeah, so I agree with you, “Tesla will likely sell
their 200,000th car “in January 2018.” You know, it’s, I’m actually very, so the model I have has them at 201,000 by the end of the year, literally
the second-to-last week, or the second-to-last week of the year. So they may do something to
where they just start creating different cars for
Europe, or not delivering in those past two weeks,
or something like that, so that way they can blow
it out in Q1 of next year, that’s my estimate, and I think that’ll be the smart way to go. I actually posted my model on Twitter, if you guys are interested in that. Ben, “Great channel,
keep up the good work,” whoo hoo, thanks. “Is it possible to do a Tesla
motor tuning on Model 3?” I’m not sure what that would
be like, so yeah, I dunno. “How does one go about
tuning the carburetor?” They do not. “Do you think the Tesla Model 3 “versus the Volvo crash test was legit?” That’s a good question,
it wasn’t, I assume so, I don’t think that was their footage, I don’t think they made that
up or doctored it in any way. But yeah, that was pretty
crazy footage, wasn’t it? Let’s see, “Do you think
ordering the Model 3 today “would still get the tax credit?” No, definitely not, ’cause
you’re waiting at least a year, or I think, what is it,
16 months or something? Yeah, I don’t think so. “Is the black color really metallic “or is it standard gloss black?” You know, I don’t know, they don’t list it as black metallic, but to me
that’s kinda what it looks like when I saw it in person. It was nighttime though,
so I could be wrong. “I hope for a nice, big
HUD in the Model 3 soon.” I would go buy a Navdy
or one of the others, I don’t think it’s gonna come in the 3, it’s just too simple
of a car, maybe the S. “Have you seen the new
EPA docs which suggest “the long range battery
is 80 kilowatt hours? “If so, what could the
battery range really be?” Yeah, that’s a good question, I haven’t, actually was it you or someone else actually just messaged me though, and they said that the long range Model 3 gets something like 450 miles on a charge, and that was kinda nuts, do I dunno. It would be crazy if were an
80 kilowatt battery I think, because that’s super heavy,
and really, in a car like that you need it to not be that heavy. And why not offer it
up, I don’t understand why you would keep that
a secret or something. So yeah, there you go. “Does the Model 3 get free supercharging “when using your code?” No it does not, I apologize, the code is only good
for Model S or Model X, not for the Model 3. Yeah, so there’s that. “Is it still interesting
to buy Tesla stock now?” You know, I would, I can’t
really say about that because I’m not a financial advisor, but I would say that
if you’re long on them, then yeah, talk to your financial
advisor and look at that. Hey thanks, good, it looks
like YouTube likes me, so yeah, I’m glad you’re here, Sam’s Alam’s a B–, Sam’s Alabama Games. Let me see, “Don’t you
get the black Model 3, “if you get the black Model 3 it means “the car will heat up a lot “and you’ll use air conditioning more, “which will lower the range.” You know not exactly, so
this is Zoh-ar S’Vard-love? “Ben, don’t get the black Model 3, “if you get the black Model 3 that means “the car will heat up a lot.” You know, I don’t use, so the
A/C doesn’t use the battery like that, or I’m sorry, the engine, so it doesn’t really mess
with the range too much, so it should be fine. And where I live it doesn’t
really get that hot, it’ll get around 85, 90
degrees in the summer, and in the winter maybe 55 to 60 degrees, so yeah, not a big deal. Yeah, so there we go. I’m gonna take about two more
questions, so here we go. “Are there any images of
standard Model 3 interior?” Yes, I believe so. Did I, I think I showed those
in my livestream last week, and I’m not sure if I put a link to ’em. But if you hit me up on
Twitter, @teslanomicsco I can find the link, and there you go. Yeah Tom, “What did Franz
think of your tiny house idea?” Actually go check out Like Tesla, they had their vlog, which I
was prominently featured in, because Kim was actually
not there, so anyways, yeah, and they got that whole conversation on, and you know, I look I think
less drunk than I actually was, so I feel good about it. Yeah, so go watch the Like
Tesla most recent video, and you can see me pitching the whole Tesla tiny house idea to Franz, and yeah, he said he was in. I think he said he was
in as soon as I said, we’ll put a bunch of crazy,
attractive people in it and make a reality show,
that’s when he was in, so I’m not sure what’s goin’ on there. What kind of camera am I using, yeah, I’m using a Canon,
I’m sorry, this is a Logitech C920 Webcam, which
I use for live streaming because it’s hard to do other things. I have a Canon 80D for my normal stuff, and I have a Sony A6000
for my other stuff. Hey Trevor, thanks for the support, I got your Super Chat here, “What do you think about
the Dell-looking screen edge “instead of a sleek iPad-looking screen “on the animation of the interior?” You know, it’s hard to say. In person I was super
impressed with the screen, the contrast and everything was fantastic, and the positioning really was beautiful. I was concerned that it
would be just too close, or it just wouldn’t be proper, but I sat in the front
seat on my test ride, and it was fantastic, it was great. So yeah, I don’t think
it’s that bad of a thing. I do think that the rendering
isn’t exactly the same as the actual thing, so I
know when I got to sit in it and go through it, it was
a different experience. But yeah, I think you’ll
be pleased with it, so thanks for the
question and the support. Let’s see, man, we got
two more questions here, I need to let you guys get back to work. “Will the new Tesla Roadster
get a higher top speed?” Yes, I believe so. “3000 kilometers per hour or more?” I don’t know, Elon did
tweet that it should get, and I know these aren’t the same things, but that it could get 0 to
60 in under 2.3 seconds, or whatever the fastest Model
S is right now, so yeah. But they were saying that would have to be a production one. And honestly, I thought
it was kind of a joke, but the way the referral program is going, I’m lookin’ forward to it,
I’m hopin’ I’ll actually get a Next Gen Roadster from
that, that would be unreal. I don’t know what I would do with it other than make a ton of
videos and show you guys what it’s all about, and then
maybe sell it or something, but yeah, it looks amazing. So yeah, there you go, that’s
my thoughts on the Roadster. So yeah, there we go. “Does the Tesla spokesperson “endorse the Model 3
autopilot?” I don’t know. “What do you think about the air vents?” Yeah, it’s a good question. The air vents were interesting,
so if you aren’t familiar, the air vents in the Model 3, they have, it’s just one strip that,
so you have the screen, and then you just have a flat surface, and then there’s a little ledge there, and then that little, little tiny strip, I mean it’s maybe this big, that is where the air comes from, and to control where
the air goes in and out, you actually, it’s on the
touchscreen, you adjust it. And so I’m a little weird on that because if I’m driving right now I can just reach my hand
out and grab the vent and move it where I want, this
I have to look at the screen. Granted I know we’re trying
to get into the realm of self-driving, and not
having to worry about it, but it just seemed a little
odd for me at the beginning, so yeah, there you go. Alright, well hey, thank you everyone for joining me today, I think
this was a good session, I got more questions than
I could possibly answer. Stay tuned for my video this Wednesday where I talk about, where I look at whether or not you can actually sell your Model 3 reservation,
and I have a lawyer friend who also is a YouTuber,
and we dig into that. And then Friday we’re gonna
have another vlog video, and all those things, if
you wanna keep up-to-date, make sure to subscribe
down below if you’re not, click on the bell to make
sure that you get notified, or even better, just get on our email list at teslanomics.co. So thank you, thank you, thank
you again for joining me, and I will see you guys
back here on Wednesday. Peace out.

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