Tesla's Forty-third Week (24): Stock Surges 22% Due to New Model Y Launch, Musk-Putin Conference, and Supercharger Hub Expansion

Tesla's Forty-third Week (24): Stock Surges 22% Due to New Model Y Launch, Musk-Putin Conference, and Supercharger Hub Expansion

Tesla's Expansion Plans and Controversies

Tesla, the electric vehicle pioneer, is gearing up for an exciting year ahead with several new projects in the pipeline.

According to reports, Tesla is planning to launch a more affordable electric SUV, dubbed the "Tesla Model 2," in the first half of 2025. The company is also working on a larger seven-seater SUV, but it won't be released until the end of the year. Both vehicles will be built on the same platform.

The Model 2 is not the only new addition to Tesla's lineup. The company is also reportedly working on a self-driving vehicle, the Cybercab, which will hit the production lines in 2026. Interestingly, Elon Musk recently announced that the Cybercab will be priced at $25,000, a significant reduction from the $30,000 initially announced.

However, Tesla's plans are not without controversy. Reports suggest that Tesla CEO Elon Musk has been in regular contact with Russian President Vladimir Putin and other high-ranking Russians since the end of 2022. The Kremlin has denied these claims, and Musk has not yet responded. This development comes after Musk faced criticism in the fall of 2022 for proposing that Ukraine should make peace with Russia and give up the occupied Crimean peninsula.

In other news, Tesla's stock gained almost 22 percent on Thursday, the second strongest increase in its history. This surge in value could be due to Tesla's expectations of 20-30 percent higher electric vehicle sales in 2025 compared to this year.

Tesla is also making strides in its infrastructure. The company is planning to build a Supercharger station along the highway between Los Angeles and San Francisco with 168 chargers. This station will be partially powered by a massive photovoltaic installation and batteries. In addition, Tesla plans to install 10 Megapacks, large stationary batteries with a total capacity of 39 megawatt-hours, at the Supercharger station.

Photos have emerged that appear to show several examples of the Model Y, with the alleged codename Juniper, outside the factory. Initial units of the Model Y Juniper are reported to have been produced under strict secrecy.

Meanwhile, SpaceX, Tesla's sister company, has stated that Starlink is not being offered in Taiwan at Putin's request, but because they are not satisfied with the licensing conditions there. Musk's contacts with Putin could be problematic due to his role in geopolitics and the military with his rockets and Starlink service from SpaceX.

In Q3 2024, Tesla reached 72 cents per share or a total of $2.5 billion, about 20 percent more than expected. Despite this success, a Tesla at a more conventional form at $25,000 will not be available for the foreseeable future.

As Tesla continues to push the boundaries of technology and innovation, it remains to be seen how these developments will shape the future of electric vehicles and Tesla's role in the global market.

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