00:00 Speaker A
Well, Tesla slipping shares while it stops taking orders in China for two models imported from the US. The EV -Maker feels the sting of the rates on China. The PRAS Subramanian from Yahoo Finance that now comes to us to discuss. So pras, of course we have seen a large wrinkle effect of what is going on and this UH the latest example of Tesla.
00:25 Tap
Yes, you know that you saw these retribution rates in China, 125% rates for American import that China arrive, which means they are not competitive, right? So for Tesla here their higher models, the EVs of Model X and Model S EVs, both in California, were taken from the Chinese market per Tesla's website. These cars cost around $ 100,000 US dollars or equivalent in China and it would be that it would cost double the amount if the rate was placed on them, so what is untenable at that time. So you know that Tesla sold around 2,000 of these vehicles last year, so it is not a large mover for them, but it emphasizes a kind of precarious situation that Tesla and other car manufacturers are now in this post -trade war world.
01:34 Josh Lipton
And Pras, new cheaper cyber truck, my friend, is out. What are the details there, Pras, and could it help demand?
01:45 Tap
You know, Josh, I know that you look at a pick -up yourself, but don't say that this truck would work for you, but the long -distance variant is out. This is actually a truck that costs $ 69,000, about $ 10,000 less than the current cheapest version of four -wheel drive. In short, you get, you get a real -wheel drive, no four -wheel drive. 350 miles of reach is not bad, but you get less towing capacity, you get fabric seats and no retractable Tonneau coverage, they call it, that is about the back. And not handy, the outputs, the outputs in the back, in the bed, have disappeared. So that doesn't happen either. So, you know, is it enough to move the needle? With the tax credit you are at around $ 62,000, which is fairly competitive, but you are against the Rivian R1T and F150 lightning, which are very capable trucks that do not have the luggage of Musk and Tesla if you want. So hard to say whether this cheaper truck will help them, which according to Cox Automotive Sales was halved from the cyber truck in Q1 compared to Q4. So a long way to go there for them.
3:21 AM Speaker A
Pras, thank you. Josh, are you looking at a pick -up?
3:28 AM Josh Lipton
I am. I spoke with PRAS. Well, I hope Pras maybe, you know, he knows some people. He is a well -connected man. That's why I spoke.
3:35 AM Speaker A
Give you some opinions about which to get. Now I can't wait until I can't wait to see pictures of Josh Lipton in his new pick -up.
