Toyota Pushes Hydrogen, Not Enough EV Buyers, 100M On Threads

Kyle Mountsier: 0:26Oh man, it's troublemaking Tuesday. Today we got Cirilo back again, we're covering Toyotas ramp up with hydrogen fuel cells. The trouble with Eevee supply in the booming rise. The people really want to know who is and who IV they stopped to stay with a booming rise of threads booming similar to Michael Cyrillus voice. Ooh,one of these days. It's going to be a thing. Everybody's gonna welcome you as the voice of automotive Michael Cirillo,

‍Michael Cirillo: 0:56

we're gonna make it a thing. We're gonna make it a thing. Do you ever getting like, I get anxiety for you on that front bumper?Because I'm like, he's got to cram all these words in.

Kyle Mountsier: 1:06

It's a hard thing. And look, Paul's got it down. Right because he does it more often than I do. Right. So he kind of has the like, there's a rhythm to it. There's a there's kind of a Pentameter that you got to hit. You know,when the rise drops? It's a thing man, you got to it's full swing. Like I'm glad we don't edit.

Unknown: 1:25

hobble bobble Buble

Kyle Mountsier: 1:30

will die we'll do. Oh, man. Hey, speaking of Papadopoulou I think that's the only way to describe this video that we caught. I don't know if you've seen it, Cirilo. But these people in California are mad about their autonomous vehicles. You got, we gotta roll the video real quick. This isn't a full story. But they're throwing cones. On the top of video of cars. Look at this. If you haven't seen it, you gotta go check it out. They're called the safe street rebels. And the reason they're throwing parking cones on the top of these cars is it literally disables them?Because they're mad about autonomous vehicles driving around their presses, streets,

Michael Cirillo: 2:15

the autonomous vehicle vigilantes. They're just going there on the streets of San Francisco. Where is where we're tracking down these vehicles. Oh, man, it's

Kyle Mountsier: 2:30

unbelievable.Like the things that are happening these days. We've got apps called threads that look like Twitter. We'll talk about that in a second. We got people putting cones on top of cars to stop them, man, maybe we can get to something normal. Hey, if you haven't registered for the associate edge webinar on tomorrow, Wednesday, you're gonna want to do that go to a so do.com you can scroll down just a little bit. We'll be working with upstart to talk about revolutionising the car business and talking to a dealer that has really changed in the game there. And make sure and grab your tickets to a soda con. It is heating up check out our socials throughout this week as we start to announce speakers.Let's get into it. What do you say sir? Let's

Michael Cirillo: 3:16

go. Alright.

Kyle Mountsier: 3:18

So Toyota, who we've been talking a lot about,has been taking this very measured approach to the future of automobiles and is now investing in hydrogen fuel cell systems. In the US. Beginning in December, Toyota will start producing hydrogen fuel cell drive trains for the first time,right here in near actually near me in Georgetown, Kentucky. The plant will get a dedicated line producing fuel cell models for heavy duty trucks with a goal of200,000 commercial and passenger vehicles by when Cirilo the year2030 And I don't even have the trigger pad on my bed. So what they're saying is trucking could be a breakthrough for hydrogen because trucks run on pre established routes, making it easier to set up the cost of the hydrogen stations. But that kind of starts to build the future network for passenger vehicles.Basically, Toyota has partnered with Daimler truck to create the truck unit for these hydrogen fuel cells. 10,000 units a month is what they need to produce to break even. According to Chief Technology Officer, Hiroki Nakajima, he also said once we hit a tipping point, there will be explosive expansion. I hope that explosive expansion isn't some like misnomer for what's going to happen to the hydrogen.

Michael Cirillo: 4:49

Hey, but you know what it is refreshing to hear an automaker actually announced their plans. Yeah, and then follow through with them you know, like they're not they're not trying to hide anything, right, like I remember a few months ago. Whenever one was like Evie, what do we get?Evie? This, Evie that. And Toyota was like, may or may not end the way we think. And we're also investing in hydrogen like great. Yeah, right.

Kyle Mountsier: 5:10

So yeah, they've been talking about this for a while. And now to say like, Hey,this plant is actually going to come online and actually, and what's interesting is the system that they're putting in these trucks that by 2026, will actually be scalable into all vehicles. So it's it's across,you know, the drive train will be available in different vehicles. And it's funny, I was actually, I had a friend that came over to the house as we were moving this week. That is an older gentleman and he says,Man, I've been waiting for these hydrogen vehicles for 20 years,are they actually going to happen and then this storage option might happen? There you go, might actually happen. Well,speaking of something actually happening, segue. Nothing's actually happening to a lot of EVs, meaning they're not getting sold. Even though automakers have been scaling that Evie output to try and challenge Tesla. There's a little problem.There's not enough buyers.According to Cox, automotive,the nationwide supply of EVs in stock has swelled nearly 350%This year, we're roughly three months worth of supply. This is a second article that's come out about this, but we wanted to give a little bit more data from what we showed last week. So here's some notable brands with some of the higher inventories.Genesis sold 18 of its GE ad sedans in June with 200 in stock, meaning they have a staggering 350 day supply. Yeah,watch out his q4 and QA and the GMC Hummer EV all have inventories above 100 days. The trick there is they're not eligible for the federal tax credit. There's also some important models like Kia,Hyundai and Nissan, that are stacking up inventories because they're not available, they don't have the tax credit available. Also, the Mk II has once was extremely hot, low day supply is now at 117 day supply.So you look at these and it's like, hey, a lot of these EVs are seeing as high if not higher day supplies than we saw on ice vehicles pre pandemic. It's an that's got to be a nerve wracking thing for automakers at this point.

Michael Cirillo: 7:30

I don't want to be that guy. But like, I'm at a conference in February of this year. One of the one of the speakers presenters is this woman and her name escapes my mind. I'll have to find it. And we'll get into the shownotes.But she heads up an investment firm that only invests in futures, whether it's robotics or, you know, AI or these things. She talked about, oh,can I say it controversial? I don't know how she met with Mary Barra and basically said, You're never going to catch up to Tesla. Oh.

Kyle Mountsier: 8:11

That's nice.It's really

Michael Cirillo: 8:13

and here we are just a few months later, seeing all the announcements that I've been learning about through troublemaker, people changing their Eevee connector, making the Tesla Supercharger network available to other EVs. And her main thing was they have superior battery technology. And that's actually what Elon was doing. So if we want to think of Elon as this, you know,mastermind, he was like, It's not about the vehicle, the vehicle is just the vehicle to produce our battery, superior battery technology. So that's where she's invested and encourages all these people. So I know controversial, we love our automakers and we love you know, we're here to support them and all those sorts of things.But it's interesting to watch this plan unfold

Kyle Mountsier: 8:54

you watch you see this future world where like, hey, if they're owning the connector, what if what's where's the world where like,they own the battery that all of these platforms sit on as well,you know, you see all like GM trying to come out with their Altium platform. What happens when Tesla's just the battery platform that standardized, you know, across like, you look at you look at phones right now,the, the, the reality is, is like, you've got phones with that are being the batteries and the components in them across Apple, Samsung Google, right,the componentry underneath the skin is is everywhere, right?And so like, as, as we've been talking about autos, matching phones a lot more in lifecycle and productization in the way that they're sold with software subscription model. You see,like this potential symmetry with everybody kind of getting the core from similar places.and then wrapping that core with a new skin, maybe a critical little features or something like that and how that they use the hardware on top of the software. But really, really interesting, kind of new moves out there and and just to see this high day supply, still a question mark. Now back to Toyota watch this. Hybrids actually have a lower inventory inventory in industry wide hybrids are at a 44 day supply,the Toyota Prius and rav4 under30 days, so look at Toyota taking a measured approach,keeping things low.

Michael Cirillo: 10:38

What a novel idea in a world where everyone becomes a fanatic about the next latest newest thing. They're like, watch this movie before we're just gonna, we're gonna sit back and take a measured approach.

Kyle Mountsier: 10:52

There you go.Well, speaking of a fanatic of the latest newest thing, segway there's at least 100 million people that are a fanatic about metas newest thing. Instagrams New Thread app threads app has reached 100 million users as of yesterday, even though it's only been out for less than a week.It came out Wednesday last week.Mark Zuckerberg said the launch team has had the launch has been way beyond our expectations.It's mostly organic demand. And they haven't even turned on promotions yet. The the team behind threads was credited by Instagram had Adam mosseri. He said, We know this is a race to the starting line. They say make it work, make it great, make it grow. We certainly did things out of order. But I promise we'll make this thing. Great. So as of last Thursday, the platform had 95 million posts and 190 million likes. So in comparison, open API's chat GPT,which was the fastest 200million users took two months to get there. And as of last November, Twitter had about 260million monetizable active users. So threads, which is basically like Twitter right now has almost half of their users in in just about a week. Wow.

Michael Cirillo: 12:21

Threads.Threads is like I was telling Nathan this before the show this morning. Threads is like when I FaceTime Kobe Joiner.

Kyle Mountsier: 12:34

Like seeing yourself in them? Yeah, it's

Michael Cirillo: 12:36

like at some point during the conversation,we forget who's who. Right.Yeah,

Kyle Mountsier: 12:42

you're like,Wait, am I on threads on Twitter? I'm not sure where I'm at Patrick.

Michael Cirillo: 12:46

But David was like, all right. Twitter versus threads. Which one do you guys prefer? And I commented, wait,which 1am? I on right now?

Kyle Mountsier: 12:53

Right? Same exact look and feel exactly. I think, for me, for auto like for dealers, if I'm thinking, what am I paying attention to here.And this is something that Gary Vee says all the time is like with 100 million active users,it's clear that threads is probably going to stay active,there's a really strong chance that those 100 million aren't just going to exit right away.Right. And the opportunity for businesses when ads haven't entered the platform yet, is you can over index on market share of like the visible audience. So it is a place like for dealers that maybe you have a marketing team that can start to execute on a new platform quickly. There is an opportunity here to go hey, there's there's easy market share to grab in, like just attention and eyeballs,potentially, in a new platform.So even though I haven't downloaded it personally, and I am like, I am against Twitter with everything that I have in just like personal use, because I just like it just as a time suck like crazy. If I downloaded on my on my phone. I know for businesses obtaining new market share and an over indexing on attention is always quicker. The early The earlier you are as a mover on a new app. So just Just A Thought there. Yeah,

Michael Cirillo: 14:23

I mean, it's well it's like you said Gary Vee said he, he said this a zillion times from stage. I day trade attention. So which maps to everything you're saying there?And I get what you're saying about Twitter. I mean, I love vacuums that clean my floors,but not necessarily vacuums for ideas. Yeah. And positions.There you go.

Kyle Mountsier: 14:48

Well, hey, look,if you have vacuums for ideas,go find those ideas, dig them out, and don't try and put them in threads actually put them to use because that's what's going to move business Is today not this crazy stuff

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