Next Gen Tesla models will cut price in half
Good morning! Let us take a moment to honor and recognize the sacrifices and contributions of our nation's Vietnam War veterans. March 29th marks National Vietnam War Veterans Day, a day set aside to honor the more than 3 million Americans who served in the Vietnam War, including those who lost their lives or were listed as missing in action. This day serves as a reminder of the bravery and dedication of these veterans, who served our country with honor and distinction.
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Elon Musk has announced the next generation of Tesla. It will cost half the amount as the current model, though this reveal does not come as a huge surprise. The EV industry is evolving into a war zone with competition only increasing. Musk announced that the new vehicles would be priced as low as $25,000 - likely a nudge at competitor Volkswagen after it announced their new EV will begin at 25,000 euros. The EV market is becoming more and more saturated for many reasons. There is a growing demand for EVs due to concerns about climate change and a desire for more sustainable transportation. As a result, many new players are entering the market to meet this demand, creating more competition.
Check out today's featured article from OilPrice.com to read more about the war between EV retailers and what it could mean for consumers in the future. Will EVs soon be priced more reasonably than gas-powered cars? Will Elon Musk win the mounting price war?
Featured Article:
Tesla Fires First Shot In EV Price War | OilPrice.com
“Early this month, Tesla’s Elon Musk announced the company’s next-generation cars would cost half as much as current models.”
American Politics & Fuel Tech ♻️
Activist Stacey Abrams’ migrates from politics to phase out fossil fuels
Stacey Abrams served in the Georgia House of Representatives from 2007 to 2017 and was the Minority Leader from 2011 to 2017, making her the first woman to lead either party in the Georgia General Assembly. In 2018, she became the Democratic nominee for Governor of Georgia, making her the first African American woman to be a major party's gubernatorial nominee in the United States. Although Abrams narrowly lost the election to Republican Brian Kemp, she gained national attention for her efforts to expand voting rights and combat voter suppression. She founded the organization Fair Fight Action to advocate for fair elections and voter protection, and she has been a prominent advocate for voting rights and democracy reform on the national stage. In 2020, she was nominated for the Nobel Peace Prize for her work to promote democracy and voting rights.
Now, Stacey wants to focus her efforts on transforming America into being less dependent on fossil fuels and curbing the country's greenhouse gas emissions. Her plans to convince American households to switch to cleaner and more renewable energy to power their houses and cars will be promoted through her new position as senior counsel for the non-profit Rewiring America. Rewiring America is a non-profit organization founded in 2019 with a mission to combat climate change and create a clean energy future for the United States. The organization focuses on promoting the transition from fossil fuels to clean energy sources such as wind and solar power, and electric vehicles. The goal of Rewiring America is to achieve 100% clean electricity in the United States by 2035, which they believe can be achieved through electrification and the use of renewable energy sources. They advocate for policies and initiatives that promote electrification and support the growth of clean energy technologies, such as electric vehicles and battery storage.
Artificial Intelligence & Labor Issues 🤖
300 million jobs could be impacted by AI, says Goldman Sachs
Goldman Sachs says that artificial intelligence such as Chat GPT could impact more jobs than previously expected. In a recent study, AI may share around 25-50% of the workload in many occupations. The jobs most impacted would start at administrative support jobs and go all the way to construction. Europe has delivered similar data, they said that 24% of their work could be automated - which is 1% less than what America says will be automated. It is estimated that 18% of work globally could be AI automated on an employment-based basis.
Goldman Sachs also said that there are countries that will be more impacted than others. The places most impacted by AI automation taking over human-operated jobs are Hong Kong, Israel, Japan, Sweden, and The United States. The people least likely to see an impact are Nigeria, Vietnam, Kenya, and China, and the least likely is India. This data does not show exactly what disruptions the AI may cause or how powerful it will become... so there are still many things to work on before it is "too late".
Let’s Get Global 🌎
🇨🇳 Chinas economy turnaround is slower than expected. Maersk has warned that China has had its real estate market crash, and its factories keep shutting down has led to an even slower turn around. Data is showing that profit in China are down almost 25% because Chinese consumer spending is down and most relied on real estate to keep them afloat. As China's economic growth slows down, the demand for goods and commodities may also decrease. This can result in reduced shipping demand, as there may be fewer exports and imports. Additionally, reduced shipping demand may lead to lower freight rates, as shipping companies compete for a smaller pool of customers. This can negatively impact shipping companies' profits.
iLevel With You 🏡
More topics for the average American household to consider…
🚎 The downward spiral of public transit systems. Ever since Covid spun the world "out of control", more and more people have ceased using public transportation. This change is shrinking the agencies' fare revenues and causing ticket fares to become more expensive - a decision that is driving even more people away. Experts claim there may be a way to escape this steep decline and help public transportation agencies receive more revenue.
🚢 The Jones Act makes your commute terrible. The Jones Act is a federal law in the United States that was passed in 1920, also known as the Merchant Marine Act. The law mandates that all goods transported by water between U.S. ports must be carried on ships that are built, owned, operated, and crewed by U.S. citizens or permanent residents. This restrictive shipping system causes major traffic on the Gulf and East coasts due to backlogged ports.
🚴♀️ Walmart wants 10% of its workforce to not drive to work. Walmart has formed a new position in its headquarters: a job titled the “Director of Workplace Mobility”. This person’s appointment is to discern how to convince 10% of the company's workforce to commute to work using anything other than a single occupied car. This move by Walmart is in an attempt to become greener and help employees choose healthier methods of transportation.
Get Smart 🧠
Ramp up that brain power for these advanced topics…
🧨 Walmart fires workers at e-commerce facilities. Walmart has announced that it has cut over 200 workers just in the state of New Jersey alone. Other locations affected include Florida, Pennsylvania, Texas, and California. They have not yet released the reason for these discharges.
📉 FedEx and Amazons shipping volumes decline. New delivery data shows top parcel carriers such as FedEx are cutting prices. Amid a difficult environment, delivery services are scrambling to keep afloat. Both of the largest carriers have seen a steep drop in demand as numbers fall back down to "normal" after the pandemic highs.
🛞 Downcycle of freight rates and volume is nearing an end. The ACT has expressed that the decline of rates and volume in the trucking sector is closer to finishing, but not yet completely over. Professionals believe there should be more stability in 2024. However, the 2023 year will prove challenging for the trucking industry.
The Workday Dash is an aggregation of articles regarding the transportation logistics, trucking, and supply chain industries for November 28, 2024, from iLevel Logistics Inc.