Landmark OEM Ventures, Tesla Diverts Complaints, From Barbie to GAP

Show Notes with links:

Seven major automakers are teaming up in a landmark venture to bring 30k chargers to a nationwide charging network.

• General Motors, Stellantis, Hyundai, Kia, Honda, BMW, and Mercedes Benz, announced the formation of a new company.
• Tesla, which accounted for more than 60% of U.S. EV sales last year, currently has the largest network of fast-chargers with almost 18,000 Superchargers in the U.S. Tesla announced earlier this year that it would open part of its charging network to rival brands to be eligible for a share of the $7.5 billion in federal subsidies available for expanding EV use.
• The CEOs of the seven auto brands believe that a charging network built out like gas stations, complete with restrooms, food service, and retail operations, would support a faster rollout of EVs. They expect EVs to account for over 50% of U.S. sales by 2030.
• This is all in an effort to be a part of the Biden administration’s goal of 500k chargers by 2030.
  
  

Is it deceptive or leveraging the system? Tesla faces scrutiny as it emerges that the company has been canceling service appointments related to battery range complaints, while also allegedly exaggerating the driving range of its electric vehicles, raising questions about the company's transparency with its customers

• The company created a "Diversion Team" to cancel as many range-related service appointments as possible, claiming that the vehicles did not need repair. This was done to ease the pressure on service centers and save costs.
• The company's exaggerated range estimates were a result of software algorithms that showed optimistic projections of driving distance on a full battery. These estimates were particularly high when the battery was fully charged and became more realistic as the battery level dropped below 50%. This strategy was reportedly directed by Tesla CEO Elon Musk

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Trying to ride the Barbie wave of success, Gap has tapped Richard Dickson, Mattel’s president, to rejuvenate the struggling clothing retailer.

• Mattel is having a blockbuster week thanks to the success of the “Barbie” movie, that grossed $155 million domestically over the weekend.
• Dickson is currently Mattel’s president and COO, and has been with the company a collective 20 years.
• Gap has been struggling for years after finding success in the mall boom of the 80’s and 90’s. The decline in malls has led the clothing retailer to close 30% of Gap and Banana Republic in North America by next year.

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