Business
Tesla’s Cybertruck Hits The Market With A Higher Price Tag And Plenty Of Challenges
Tesla CEO Elon Musk presided over the company’s long-awaited Cybertruck delivery, which was first shown four years ago. While there was little new information since the original presentation, Tesla’s website was updated with a new price.
The event had the typical Musk flash, with lofty predictions about “the future” and visuals of Cybertrucks traveling across the ice, but it offered very little new information. Even the price on Tesla’s website, which required a $250 deposit to place an order, did not contain standard car-buying experiences, such as selecting options. There was no mention of practicalities like front trunk capacity or anything beyond the company’s current estimate of a 250-mile range.
However, the website did mention that the top-of-the-line model would be known as the “Cyberbeast.”
The Tesla Cybertruck starts at $60,990 before federal tax credits, over $20,000 more than the base model initially proposed at the vehicle’s introduction in 2019. The business originally stated that the Cybertruck would cost less than $40,000, but a pandemic and subsequent severe inflation prompted the corporation to change its mind.
Even then, it would only be “available in 2025,” according to the Tesla website.
If you want one in 2024, expect to pay about $80,000.
By itself, the Cybertruck enters an electric vehicle market packed with vehicles in the same price range. It’s not only pickups but also SUVs. It’s an issue that’s already dampening sales of some electric vehicles, particularly in the luxury market, as automakers struggle to establish their electric production processes.
He also bragged about the Cybertruck’s “sports-car-like” capability, showing a video of it hauling a Porsche 911 on a trailer while racing a Porsche 911 down a drag strip. Honestly, Porsche 911 sports cars aren’t sold on raw acceleration. Of course, neither is a pickup truck, so it’s unclear how big of a selling point that will be.
Tesla’s Cybertruck Hits The Market With A Higher Price Tag And Plenty Of Challenges
However, Tesla’s website only shows that acceleration figure for the Cyberbeast version of the truck, which costs over $100,000. The truck’s 11,000-pound towing capacity also noted in the presentation, is shown exclusively in the $80,000 or $100,000 all-wheel-drive variants.
According to Brian Moody, executive editor of Kelley Blue Book, the truck’s price range may be fine compared to other high-end trucks on the market. The pricing range that Tesla can provide is limited.
“Because Tesla has basically one version of the truck with some minor modifications, they don’t have the advantage of having a very low-price truck as well as a very high and heavy-duty, super-capable truck,” Moody wrote in an e-mail.
According to Wedbush Securities analyst Dan Ives, who is bullish on Tesla, the business has around 2 million bookings for the Cybertruck. He predicted that just 30% to 40% of those reservations would be turned into sales. The larger issue may be the production issues that Musk says the firm is experiencing as it attempts to ramp up vehicle manufacturing, especially with competition from electric pickups from Ford, GM, and Rivian.
“It’s a Herculean task to ramp production, but Tesla has been here before,” he said, referring to prior product launches such as the Model 3 sedan. However, he warned that “it’s a much more complex market for them to navigate.”
The Cybertruck, which resembled a high-end kitchen appliance when it was initially shown in 2019, looked like nothing else on the road, and it still does. The purpose of its strange, angular all-metal appearance was to stand out: Musk sought to make a statement with something that wasn’t just another large truck.
However, the Cybertruck’s qualities, such as power and range, do not stand out. The market has transformed during Tesla’s development and delays over the last four years. Even before the first one rolls into a customer’s driveway, Tesla’s flashy new pickup is significantly more ordinary beneath its gleaming veneer.
Electric motors can give a lot of towing and hauling power, and the truck’s basic size allows for many batteries and a long range. Tesla is one of many automakers to recognize this opportunity.
Even then, it would only be “available in 2025,” according to the Tesla website.
Ford began selling the F-150 Lightning electric pickup truck four years ago, and Rivian R1T pickups have become familiar sights on American roadways. General Motors just began manufacture of the Chevrolet Silverado EV electric truck. Stellantis’ Ram 1500 Rev electric vehicle will also be available in late 2024.
This isn’t the same setting as it was four years ago, and the Cybertruck’s capabilities don’t look as impressive as they did. Many of these other trucks have capabilities that rival, and in some cases even outperform, Tesla’s.
Musk has also frequently stated how tough it is to construct the Cybertruck due to its unconventional design.
The truck is built of unpainted stainless steel, a material not commonly utilized for cars since the durability of the material that Musk has touted makes it difficult to build with and fix. The massive stamping machines commonly employed in auto manufacturing to quickly bend metal into shape struggle with stainless steel.
It also features a unibody construction rather than a separate body and chassis like most large pickups. Unibody structure is common in crossover SUVs and compact, light pickups such as the Ford Maverick. Body-on-frame designs are commonly used for heavy-duty vehicles due to their strength and flexibility for towing huge loads.
“There will be enormous challenges in reaching volume production with the Cybertuck and making the Cybertruck cash flow positive,” Musk remarked recently during an investor call.
Musk has also frequently stated how tough it is to construct the Cybertruck due to its unconventional design.
The Cybertruck’s total size could be an advantage. According to Tesla, the Cybertruck is less than 19 feet long, slightly shorter than conventional full-size trucks. However, Tesla boasts that its cargo bed, at over six feet long, is slightly longer than typical.
However, the Cybertruck may forego front storage in exchange for its small body length. It lacks the extended hood of other pickups, notably electric pickups from Ford and GM. This could imply that the Tesla has less “frunk” – or front trunk – space. Ample functional front room, in particular, has been a major selling factor for the Ford truck.
The wedge shape of the vehicle, where the sides of the cargo bed meet the roof, may also make access to the bed from the sides difficult. Pickup drivers frequently reach over the sides to load and unload objects close to the cab.
The payload capacity of the Cybertruck, or the amount of weight it can carry in its cargo bed, is also slightly higher than competitors currently in production. The Ford F-150 Lightning can tow up to 2,200 pounds. However, the Ram 1500 Rev will be able to haul up to 2,700 pounds, which is more than the Cybertruck.
SOURCE – (BBC)
The location is Cape Canaveral, Florida. On Thursday, the two NASA astronauts designated for Boeing’s inaugural manned space mission arrived at the launch site approximately one week before their planned departure.
Butch Wilmore and Suni Williams have been selected as test pilots for Boeing’s Starliner capsule, marking its inaugural crewed mission following significant delays. On Thursday, they traveled by air from Houston to Kennedy Space Center.
AP – VOR News Image
NASA Astronauts Arrive For Boeing’s First Human Spaceflight
Scheduled for launch on May 6 using an Atlas rocket, the Starliner spacecraft will go to the International Space Station for a week-long test mission. Boeing is endeavoring to close the gap with SpaceX, which has been conducting manned space missions for NASA since 2020.
Boeing’s two earlier Starliner test flights were unmanned. The initial launch in 2019 was unsuccessful in reaching the space station due to software malfunctions and other technical issues. Boeing replicated the demonstration in 2022. In more recent times, the capsule encountered problems with its parachutes and had to address the issue of flammable tape that needed to be eliminated.
Wilmore emphasized that this is a test flight intended to uncover any anomalies.
AP – VOR News Image
NASA Astronauts Arrive For Boeing’s First Human Spaceflight
Do we anticipate flawless execution? “This is the inaugural manned voyage of the spacecraft,” he informed the press. “I am confident that we will discover information.” This is the reason why we engage in this activity.
NASA enlisted the services of SpaceX and Boeing ten years ago, allocating billions of dollars to facilitate the transportation of personnel to and from the space station. Despite the space station’s planned closure by 2030, the space agency remains enthusiastic about procuring capsules from two rival businesses to transport its astronauts.
“That is of utmost importance,” Wilmore remarked.
AP – VOR News Image
NASA Astronauts Arrive For Boeing’s First Human Spaceflight
Wilmore and Williams are set to become the inaugural astronauts to embark aboard an Atlas rocket since NASA’s Project Mercury in the early 1960s.
SOURCE – (AP)
Business
The TikTok Law Kicks Off A New Showdown Between Beijing And Washington. What’s Coming Next?
WASHINGTON – TikTok is preparing to engage in a legal battle against a U.S. legislation that would compel the social media platform to sever its connections with its China-based parent company. Chinese authorities likely support this action, as the intense rivalry between the United States and China jeopardizes the future of a highly popular online platform for young Americans to connect.
Beijing has indicated that TikTok should resist what it perceives as a “robbers” move by U.S. politicians who aim to seize all the valuable assets possessed by others. If a judicial challenge is unsuccessful, experts believe that Chinese authorities are unlikely to permit a sale, as this may be interpreted as yielding to Washington.
AP – VOR News Image
The TikTok Law Kicks Off A New Showdown Between Beijing And Washington. What’s Coming Next?
Alex Capri, a senior lecturer at the National University of Singapore and research fellow at Hinrich Foundation, suggests that Beijing is concerned about the negative implications that the U.S. action against the popular short-form video platform could have, as it may establish an undesirable precedent. “If Beijing surrenders to the United States, what will be the ultimate outcome?”
Parent firm ByteDance issued its first formal comment on the new rule in a post on Toutiao, a Chinese news app owned by the company. The statement explicitly mentioned that ByteDance has no intention of selling TikTok. In response to media reports, the firm based in Beijing addressed the speculation around exploring potential possibilities for selling TikTok’s U.S. business.
The legislation that U.S. President Joe Biden signed this week may allow Washington to extend its reach to target other China-related apps, such as the well-known e-commerce platform Temu, according to Hu Xijin, a former editor-in-chief for the party-run newspaper Global Times. Furthermore, it could encourage U.S. allies to take similar actions.
According to Hu, a political commentator, TikTok, with its 170 million American users, should display more courage and determination by refusing to give up and fighting until the very end.
TikTok has pledged to contest the recently enacted U.S. legislation that mandates ByteDance to sell off its ownership interests within a one-year timeframe in order to prevent a ban. The corporation has described the regulation as a violation of the freedom of expression of its users, the majority of whom utilize the program for amusement purposes.
The company expressed confidence in its position, stating that it firmly thinks the facts and the law support its case, and they are confident in its ultimate victory.
The dispute around TikTok has escalated the tensions between the United States and China, as both countries have pledged to safeguard their economic and national security concerns. U.S. legislators are apprehensive about the Chinese ownership of the application, as it may potentially enable Beijing to exercise undesirable influence on the United States, particularly on the impressionable minds of young individuals.
Washington has achieved a series of triumphs in reducing the influence of Chinese corporations through bans, export controls, and forced divestitures. This has led to protests from Beijing, who believe that the U.S. is intentionally trying to suppress China’s economic growth through coercion.
AP – VOR News Image
The TikTok Law Kicks Off A New Showdown Between Beijing And Washington. What’s Coming Next?
The United States has previously compelled Chinese corporations to sell off their assets. For instance, in 2020, Beijing Kunlun, a Chinese mobile video game company, agreed to divest itself of the gay dating app Grindr following a directive from the federal government. However, TikTok, which was developed by a Chinese corporation exclusively for the international market, serves as a prominent example of China’s technological prowess on a worldwide scale. Beijing is determined not to relinquish control over this influential platform.
Gabriel Wildau, managing director of Teneo, a consultancy and advisory firm based in New York, stated that national dignity is at risk and may be prioritized over the financial interests of ByteDance investors, especially global investors with a 60% stake in the company.
The corporation is anticipated to mount a legal battle that will heavily rely on First Amendment considerations and has the potential to be protracted for several years. Analysts assert that Beijing is relying on a favorable legal outcome.
The course of action to be taken if TikTok fails to succeed is currently under discussion with the Chinese authorities, according to Dominic Chiu, an analyst with Eurasia Group. Chiu stated that President Xi Jinping, who has the authority to approve or disallow the transaction, has likely yet to make the definitive choice.
Fortunately for Xi, Beijing does not face any immediate pressure to decide, according to Sun Yun, the director of the China program at the Stimson Center in Washington. “There is a possibility for numerous alterations,” she stated.
If lawmakers’ desire for a sale of TikTok is fulfilled, the procedure is expected to be complicated for the company. TikTok would need to separate its activities in the United States from all other aspects of its business.
Firstly, the cost of acquiring TikTok’s U.S. operations, although undisclosed, is anticipated to be substantial enough to significantly restrict the number of potential investors and companies capable of affording it. Several investors, including former Treasury Secretary Steve Mnuchin, have already positioned themselves as potential purchasers of a U.S. iteration of TikTok. According to market tracker Pitchbook, ByteDance, a privately held company, has a valuation of $220 billion.
There is now a lack of clarity on the fate of the TikTok algorithm, which is the secret formula responsible for delivering personalized short videos to users depending on their preferences. This algorithm has played a significant role in establishing TikTok as a dominant force in popular culture.
ByteDance would be prohibited from having control over the algorithm of a U.S. subsidiary of TikTok. According to many experts, Chinese authorities are likely to prohibit the sale of the technology that appears in people’s TikTok feeds, based on the amended export regulations of 2020. After the federal courts blocked former President Donald Trump’s attempt to outlaw TikTok through an executive order, this revision took place.
AP- VOR News Image
The TikTok Law Kicks Off A New Showdown Between Beijing And Washington. What’s Coming Next?
According to certain individuals, including Mnuchin, it is necessary to reconstruct TikTok in the United States by employing novel technology. However, it is uncertain how this will manifest or how effectively it will replicate the kind of video suggestions that viewers have become accustomed to.
According to Robin Burke, a professor of information science at the University of Colorado Boulder, certain elements of the algorithm might potentially be duplicated by individuals within the company. However, he also observed that TikTok has certain areas where it outperforms its competition, making it difficult to replicate.
“TikTok possesses extensive experience and a wealth of data,” Burke stated. “I believe it is improbable for a U.S. company, without inheriting the technology from its parent company, to construct something of equal caliber.” Definitely not immediately.
SOURCE – (AP)
The backslash character – escapes special characters in programming languages and other contexts. The following information is from a news article published by the Associated Press: Due to a settlement with Amazon-owned Ring, the Federal Trade Commission is giving consumers over $5.6 million in reimbursements. Ring was accused of neglecting to safeguard private video data against unauthorized access.
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FTC Sends $5.6 Million In Refunds To Ring Customers As Part Of Video Privacy Settlement
The FTC complained in 2023, alleging that the doorbell camera and home security provider permitted its employees and contractors to gain access to consumers’ confidential videos. Ring purportedly utilized this film for algorithmic training without obtaining authorization, among other objectives.
Ring was additionally accused of neglecting to install crucial security measures, thereby allowing hackers to get control over customers’ accounts, cameras, and footage. The FTC observed that this resulted in severe breaches of users’ privacy.
The final settlement necessitated Ring to remove unlawfully acquired content, implement enhanced security measures, and pay a substantial penalty. The FTC is currently utilizing a significant portion of the funds to provide refunds to qualifying Ring customers.
reviewed – VOR News Image
FTC Sends $5.6 Million In Refunds To Ring Customers As Part Of Video Privacy Settlement
As per a notice issued on Tuesday, the FTC will be delivering 117,044 PayPal payments to consumers who were affected and owned specific types of Ring devices, such as interior cameras, during the periods when unlawful access is claimed to have occurred.
Customers who meet the requirements must claim these payouts within 30 days, as stated by the FTC. The FTC also mentioned that consumers can reach out to Rust Consulting, the refund administrator for this case, or refer to the FTC’s FAQ page on refunds for further details regarding the procedure.
Ring has stated that unauthorized individuals used stolen email addresses and passwords from other companies to gain unlawful access to certain customers’ Ring accounts in 2019. This occurred because these customers used the same login credentials on multiple websites. Upon discovering this breach, Ring promptly notified the affected customers and took measures to safeguard their accounts.
Ring did not promptly respond to the FTC’s accusations regarding employees and contractors inappropriately viewing footage.
Wired – VOR News Image
FTC Sends $5.6 Million In Refunds To Ring Customers As Part Of Video Privacy Settlement
In a recent announcement, the California-based company confirmed that it will no longer accept requests from police agencies to access doorbell camera footage from its users. This decision effectively terminates a controversial function that had faced scrutiny from privacy advocates.
SOURCE – (AP)
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