Lords of the Fallen developer Hexworks has announced the release of update 1.5, its “final milestone” for the PC, PlayStation 5, and Xbox Series X and S soulslike, as publisher CI Games turns its attention to future games in the franchise.
05.04.2024 - 16:49 / wccftech.com / Morgan Stanley / Rohail Saleem
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Tesla (NASDAQ: TSLA) seems to have surrendered in front of a veritable onslaught of competition from China, eviscerating a major plank of its medium-term bullish thesis. Now, the EV giant's FSD capabilities and the attendant licensing deals, as well as the lucrative cash stream from the still-non-existent robotaxis, might be the only salvation on the proverbial horizon.
We reported in January that Tesla was working to launch an entry-level $25,000 EV, dubbed "Redwood" internally and widely known as the Model 2, by June 2025, with the EV giant going so far as to send requests for price quotes to certain suppliers of key components based on a volume production level of 10,000 units per week, equating to around 520,000 units per year.
Redwood was to be an affordable compact crossover, with Tesla engineers expending quite a lot of effort to unlock economies of scale, including tearing down a "Honda Civic to study how to make cheap cars," as per a Reuters report.
Now, however, Reuters has come up with a scoop that Tesla has scrapped its plans for a $25,000 EV, instead choosing to try to develop robotaxis on Redwood's platform. This means that the Model 3, which starts at around $39,000 in the US, will remain Tesla's cheapest model for the foreseeable future.
We noted earlier this week that Tesla has now recorded its first quarter with negative year-over-year growth in deliveries since the apex of the pandemic-induced mayhem in Q2 2020.
With price cuts no longer working to stave off a precipitous plunge in demand, Tesla is now offering to buy back its vehicles in China at 45 percent of the invoice price in three years to support resale values. Moreover, it is also offering zero-interest car financing for the buyers of Model 3 and Model Y in China.
Yet, there appears to be ample demand in China for newer, flashy EVs. Case in point: Xiaomi's newly unveiled ~$30,000 SU7 electric vehicle - which borrows heavily from Porsche's styling elements - is now sold out for the entire year, and that too within the span of just 24 hours! For context, Xiaomi is planning to produce 90,000 units of the SU7 this year.
Against this backdrop, Tesla bulls are increasingly looking toward the auto giant's FSD capability as their ultimate salvation. Consider the fact that Morgan Stanley's Adam Jonas, a Tesla perma-bull by any definition, has pegged a value of just $62 per share on the company's core auto business!
Lords of the Fallen developer Hexworks has announced the release of update 1.5, its “final milestone” for the PC, PlayStation 5, and Xbox Series X and S soulslike, as publisher CI Games turns its attention to future games in the franchise.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Warning: Fallout season one spoilers ahead!
The Movie Critic will no longer be Quentin Tarantino's tenth and final movie, according to The Hollywood Reporter, with the director returning to the drawing board for his last feature film.
Tech billionaire Elon Musk is set to visit India as his businesses seek new markets in the world's most populous nation, with electric carmaker Tesla -- suffering a sales downturn in the United States -- reportedly scouting factory locations.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Over the past couple of months, a streamer known as Silithur has somehow been beating Elden Ring with nothing but a single button and Morse code, adding his run to the ever-growing list of strange and wonderful items the game has been completed with. He garnered attention back in February, by rather comprehensively beating Margit, and he's been gaining fans on his long and arduous trek to the Elden Beast.
Dead Boy Detectives showrunners Steve Yockey and Beth Schwartz have plans for not just a potential season 2 of the upcoming Netflix show, but a season 3 and beyond.
Every time Elden Ring challenge runs seem to have reached their peak, someone comes along to set the bar even higher. For streamer Silithur, who recently beat the RPG using nothing more than a Morse Code input, however, beating the Elden Beast was just one part of an immensely cathartic double whammy involving none other than Elon Musk.
The Invincible IP has seen roaring success with its comic books and the Amazon Prime animated series, and it looks like Skybound Entertainment now has its sights set on video games. The company has announced a crowdfunding campaign that will raise partial funds for the development of a AAA Invincible game.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Elon Musk's AI venture, xAI, has recently introduced an upgraded version of its Grok 1.5 model – the Grok 1.5 Vision. This new model integrates computer vision capabilities, allowing it to interpret visual content and respond to questions about images. This development comes shortly after OpenAI presented its GPT-4 model, which also boasts computer vision features.