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Is Tesla racing ahead of rivals?

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Edit Teslas Carbon Credits

Think electric cars and you think of Tesla; the poster child for the industry and the company at the forefront for what is possible with electric vehicles (EVs). If governments fail to install the necessary charging infrastructure then Tesla will do it itself with its shiny charging points and bespoke parking bays. If the rest of the world cannot match the demand for energy rich batteries, Tesla will make its own in Gigafactories. Never mind if the Japanese offerings came first; it is the upmarket Tesla that has become the yardstick against which EVs are measured. One might be forgiven for thinking they can do no wrong in their charge to a greener future.

But look under the hood in their recent financial reports and a little known fact comes to the fore. In their Q4 & Financial Year 2020 Update Tesla reported $104 million in net income. This was good news for shareholders and investors after years of struggling to make a profit. Their biggest revenue growth? The 202% year-on-year increase in regulatory credits to the tune of $401 million. What are these credits that kept Tesla in the black?

In a world of emissions targets and drives for cleaner air, different incentives are appearing everywhere. Whether it be from EU targets on CO2 emissions or Zero-Emission Vehicle (ZEV) Standards in California, car manufacturers find themselves under increasing pressure to deliver ever decreasing tailpipe emissions across their vehicle range. This has prompted strange stories along the way such as the Aston Martin Cygnet: a Toyota Aygo with an Aston Martin badge on it built purely to decrease the average emissions of their vehicle range. Jaguar Land Rover had to end 67 years continuous production and completely relaunch their flagship Defender model to bring the car and its emissions into the 21st century.

All this has played straight into Tesla’s hands and into its pockets. While most manufacturers incur fines as they struggle to meet targets, Tesla has been an all-electric brand from day one. Whether it be a family size SUV or an executive Saloon, there is a Tesla delivering zero tailpipe emissions. But not only does this mean Tesla avoids all fines, it also provides a revenue stream that allows them to profit from other’s shortcomings. 

In the case of the ZEV program in California, manufacturers seeking to sell their cars in the state must deliver a certain proportion of electric, hybrid electric or other ZEVs. If they cannot comply with the regulations – either because they do not yet produce any vehicles that match or do not sell enough to meet the proportions laid out – they are forced to buy credits from a compliant manufacturer. In Tesla’s case, it has credits to burn since it will earn credits from every vehicle line with no non-compliant vehicles to have to offset against. There is nothing for them to do with their credits except sell them. Now consider that, besides California, there are 13 other states with similar regulations and credit systems and this quickly becomes a big deal for Tesla.

This year the EU will be fining manufacturers hundreds of millions of Euros for missing emissions targets. According to a study by Data Force, assessing data from 22 EU countries plus Iceland, Norway and the UK, only seven manufacturers met the brand average 95g/km CO2 target. Three of these produce battery-electric vehicles only, meaning just four manufacturers were able to produce engine powered vehicles and still meet the stringent regulations. This has led to frantic mergers and formations of pools that allow average emissions to be calculated across multiple brands and manufacturers. In the EU, Fiat Chrysler Automobiles (FCA) put €1.1 billion into teaming up with Tesla to bring FCA under target, with Mazda following suit with Toyota, and likewise Ford combining emissions with Volvo and Polestar. For those going it alone, there are huge risks that consumer demand tips the balance away from vehicles that might bring them into line. Every gram over the limit incurs a €95 fine, per car sold. The German giant Volkswagen, for example, announced that even with the launch of the electric ID.3, it still missed emissions targets by 0.5%. That may seem insignificant, but the Financial Times estimated it could face a fine of approximately €150m. The top 13 car manufacturers in Europe were all predicted to miss their 2021 emissions targets as they began 2020 and were set to incur more than €14.5bn in fines.

Pooling emissions is therefore key and will be of more significance as time goes on. This in turn is great news for the likes of Tesla who will continue to be a key ally for other manufacturers. Not only are noncompliant manufacturers losing their own investment potential in fines, but they are required to put this lost investment into Tesla’s projects. Tesla know this is something that is going to expand short term. And it also knows it is going to be a source of diminishing revenue as time goes on and manufacturers bring electric vehicles to market. During a second quarter earnings call, Tesla CFO Zacahary Kirkhorn revealed he expects regulatory credit revenue to exceed $1 billion and increase in future years. This gives Tesla a unique head start – partly funded by the failures of its competitors – to capitalise on a market it has almost to itself. 

The competition will be fast approaching and has Tesla firmly in their sights. Jaguar, for example, recently announced an all-new 100% electric product portfolio to be launched from 2025. Ford have electrified their most iconic car lines in the Mustang and the F150. Tesla knows it will not be alone in the luxury electric space for long. For consumers, this means an accelerated rate of change over the next decade to kickstart the electric revolution, and for legislators, manufacturers and the planet it cannot come soon enough.

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Daily Brief

SumOfUs’s Researcher’s Avatar Sexually Assaulted in Horizon World’s Game

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Brelyon metaverse desk scaled
  • In Meta’s virtual reality platform, Horizon Worlds, the avatar of a 21-year old SumOfUs researcher was sexually assaulted. 
  • Meta confirms that it has set up safety tools in Horizon Worlds in order to prevent negative experiences, especially since there were earlier reports of virtual assaults and inappropriate behavior in February. 
  • One of the safeguards introduced was Personal Boundary, which prevents any avatars from coming within a set distance of 4 feet of each other in order to respect the avatar’s personal space. The company also offers other ways in order to block and report users as well.
  • Nevertheless, SumOfUS reported that the researcher was “encouraged” to disable the Personal Boundary feature, and was approached by 2 male avatars in a room, one of whom was observing and the other got fairly close to her. She also witnessed lewd comments, homophobic slurs, and virtual gun violence. 
  • SumOfUs has filed a resolution with some of the shareholders, requesting a risk assessment of the human rights impacts in the metaverse. A shareholder meeting is set to be held on Wednesday. 
  • SumOfUs’s campaigns director Vicky Wyatt stated, “Let’s not repeat and replicate [real-world issues] in the metaverse. We need a better plan here on how to mitigate online harms in the metaverse”.

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Politics

Digital Authoritarianism – A Growing Challenge to The World Press Freedom

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Digital authoritarianism – a growing challenge to the world press freedom

Press and electronic media have been an active source of propagation of the discourse be it political, social, or religious. They make it easier for a piece of information to reach the common masses and thus it is crucial for the governments to control them to keep insuring the creation of “us” and “them” division in the society.  But this control has become a challenge for a free and independent press. Digital authoritarianism, cyber surveillance, and monitoring of political and social activities of people through media have made it difficult for the people of the present age and time to have freely expressed their opinion and easier for the governments to control the information.

While China has been controlling the influx of information and the regulation of ideologies in the country through a great fire, Other countries are joining in too with their measure to increase cyber-surveillance. Internet shutdowns are one of the tools for asserting digital authoritarianism and according to a survey conducted by a non-profit digital rights organization Access now, the year 2021 experienced 182 events of Internet shutdowns around the world.

The shutdowns measures were taken to contribute to the growing political tensions in the respective regions for example, during the coup in Maynmar, and to influence the geopolitical situation in Eastern Europe, specifically Russia. Similarly, while Africa experienced an epidemic of coups in the year 2021, the number of internet shutdowns reached 19.

 India which claims to be the “world’s largest democracy” imposed an internet shutdown more than a hundred times in the year 2021 and more than half of them were on the already repressed people of Jammu and Kashmir.

While Russia became the only country in Europe to impose an internet shutdown in 2021, in the year 2022, the Russia and Ukraine war has forced other EU countries to ban the access to Russia Today, Sputnik other information sites regulated by Russia calling it a measure against “the war propaganda.” Similarly, since the beginning of the conflict, Russia has imposed new internet laws in the country to monitor the spread of news restricting the use of global applications like Instagram and Facebook.  

The more recent rerouting of the internet traffic of occupied Ukrainian regions to be redirected through Russian cyber routes. Netblocks, an internet observatory, noted that: “Connectivity on the network has been routed via Russia’s internet instead of Ukrainian telecoms infrastructure and is hence likely now subject to Russian internet regulations, surveillance, and censorship.”

However, while countries around the world are being exposed to exerting digital dominance, and being accused to collect user data for their own benefit, it is becoming a challenge for them to create “democracy-affirming technologies” to combat the digital authoritarianism that has been challenging the world’s press freedom around the world.

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Society

Sexualized Child Images “Meet Community Guidelines” on Instagram

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Instagram Face

Instagram has come under a lot of heat, and rightly so, for not removing accounts that showed pictures of children in swimwear or partial clothing attracting loads of sexualized comments even after such accounts were reported via the in-app reporting tool. 

The above-mentioned tool allows users to flag accounts that have suspicious activity which is then reviewed by the system’s automated moderation technology, which in this case ruled such concerning accounts as “acceptable” and conforming to “community guidelines” resulting in such accounts remaining live.

An independent researcher challenged this and reported one such concerning account to Instagram using the in-app reporting tool, only to be met with a response tagged with a phrase many of us a too familiar with i.e., “due to the high volume of reports” submitted it can not view the report but the “(automated) technology has found that this account probably doesn’t go against our community guidelines”. The said account, with more than 33,000 followers remained live the whole day.

All this while Instagram’s parent company, Meta, as do other social media companies claims an approach that has zero tolerance towards child exploitation – claims that remain unsubstantiated by their actions/policies.

Instagram is not alone in failing to effectively handle this issue. Twitter has many similar accounts often known as “tribute pages”. This is evident from the example of this one account which was ruled not to be breaking twitter’s rules after being reported through the in-app reporting tool despite posting pictures of a man performing sexual acts with images of a 14-year-old TikTok underage influencer. Other tweets from the same account reading “looking to trade some younger stuff” were also seemingly not concerning enough, until it was publicly called out by a campaign group ‘Collective Shout’ at which point the account was taken down.

Should such accounts suspicious of illegal activity and clearly harmful be allowed to remain live only because they do not meet a criminal threshold, yet?

Are “Zero tolerance” claims consistent with companies allowing the content that is a threat to children to remain live despite being reported, let alone proactively moderate content?

Should the social media companies be relying on automated detections for preventing the serious risk of sexualization, harassment and exploitation of our children when such technologies have been known to have failed miserably for even keeping up with simple hate speech?

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Health

Tired of Carrying a Wallet? Have Your Credit Card Microchipped Under Your Skin

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Dr Mark Gasson has an RFID microchip implanted in his left hand by a surgeon March 16 2009 1 scaled

Walletmor, a British-Polish startup, claims to have created the first implantable microchip that can be used at any contactless payment machine around the world. Walletmor has sold over 500 microchips that are slightly bigger than a grain of rice and weigh less than one gram. Each microchip goes for £199 and can be sewn in by professionals at any aesthetics clinic. 

Walletmor claims that the microchip is entirely safe and has received regulatory approval. Once implanted, the microchip is ready to use and will not shift from its place. The microchip requires no batteries or an external power source to function. The implantable capsule is made of biocompatible material and consists of a microprocessor for storing encrypted payment data and a proximity antenna to connect to nearby payment terminals. 

The founder of Walletmor, Wojciech Paprota claims that the microchips are impossible to hack stating, “our payment implant cannot be forgotten or lost. This means that, unlike a standard payment card, it cannot end up in the wrong hands. It will not fall out of our wallet, and no one will take it from there. The implant cannot be scanned, photographed or hacked.” 

At the moment, the microchip connects to a mobile app called ICard, where a user can refill funds for contactless payments. 

Paprota believes that credit card implants will one day be as popular as regular payment cards and that Walletmor’s long-term goal is to provide more functionalities to their chip such as identification and key card access capabilities. 

But before microchip implants can be widely accepted, Paprota and other emerging microchip-based companies must first assure citizens of their safety. Though implanted microchips are convenient for day-to-day tasks, many fear that as technology continues to advance, a person’s data and specific location can potentially be hacked causing safety concerns. 

Nada Kakabadse, a Professor of Ethics at Reading University questioned the ethics behind getting microchips implanted. Kakabadse stated, “there is a dark side to the technology that has a potential for abuse…to those with no love of individual freedom, it opens up seductive new vistas for control, manipulation and oppression.. And who owns the data? Who has access to the data? And, is it ethical to chip people like we do pets?”

So the question arises, how much are we willing to risk for the sake of convenience?

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Born and raised in the Bay Area, California, Faiza is a mother of two with a degree in Psychology and Paralegal Studies. She is passionate about lending her voice to those who are disadvantaged.

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Tech

Elon Musk is now the largest shareholder in Twitter

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Screenshot 2022 04 05 at 23.09.00
Heisenberg Media via Wikimedia Commons

Tesla founder Elon Musk has become the largest shareholder in Twitter. His shares are four times greater than that of Twitter founder Jack Dorsey.

Elon Musk has purchased 9.2% shares equating 73.5 million shares in the social network. His shares are a passive stake but news that he has become the largest shareholder in the company caused a surge in Twitter share price. His stake is now worth more than $3bn.

Parag Agrawal, CEO of Twitter, tweeted on Tuesday “I’m excited to share that we’re appointing @elonmusk to our board! Through conversations with Elon in recent weeks, it became clear to us that he would bring great value to our Board.”

Elon is running a poll on twitter about the edit button, which will be helpful for twitter users to edit mistakes but some, including Jack Dorsey, have rejected the idea because people can change the meaning of what they have said, after they have shared it. 

Dan Ives, from analyst firm Wedbush said that Elon will soon go for an active role in company management. 

He said, “We would expect this passive stake as just the start of broader conversations with the Twitter board/management that could ultimately lead to an active stake and a potential more aggressive ownership role of Twitter,”.

This is supported by the reports of the Wall Street Journal that his application to Securities and Exchange Commission (SEC), which should have a line saying he doesn’t intend to influence the company, had a ‘Not Applicable’ mark.

There is an issue reported about his investment in twitter. He filed his investment on 14th of March and after filing and before it became public knowledge, he asked users whether they believed that free speech was essential to a functioning democracy and whether Twitter adheres to this principle.

Cornell University’s assistant professor Alexandra Cirone considers this as an evidence he may “try to influence Twitter practices” and have a “more active play in the social media eco-system”.

On the other hand, Howard Fischer, partner at law firm Moses & Singer, said that considering he had bought the share already, “I do suspect the SEC is going to look long and hard into whether they can bring manipulation charges”. 

Elon Musk is a regular user of twitter, whether he uses his influence to establish free speech or market manipulation, twitter users will find out soon. 

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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Society

Is Technology Making Children Grow Up Faster?

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Technology
  • Research has found that children’s exposure to technology may allow for them to be more intellectually savvy at a younger age, however it is seen to also push ‘maturity’ milestones to an older age.
  • Despite this supposed maturity, the younger generations seem to delay many adult milestones such as dating, drinking, engaging in intimate relations, and driving unlike previous generations.
  • With all things kept in mind, studies find that children are not growing up faster in terms of society, culture, or biology. 

Research has found that children’s exposure to technology may allow for them to be more intellectually savvy at a younger age, however it is seen to also push ‘maturity’ milestones to an older age. The advent of smartphones, tablets, and other such electronics has put the world’s knowledge into the palms of children at a younger age than ever seen before. With most parents buying their child a smartphone at age 10, it is no question that the newer generation has practically unlimited access to news, social media, games, and the like.

Marketing geared towards kids is not new and the concept of “kids getting older younger” (KGOY) is one used by companies constantly to raise revenues. Games such as Roblox have capitalized on such ideas and the effects are clear. Speaking to strangers and having open access to the internet is pulling children towards emotional maturity. 

Despite this supposed maturity, the younger generation seems to delay in many adult milestones such as dating, drinking, engaging in intimate relations, and driving, unlike previous generations. any experts argue that this view is skewed, including senior Vice President and Director of the Center for Children and Technology, Shelley Pasnik. Pasnik stated “The basic stages of children’s development aren’t changing…what has changed is [kids’] exposure to information.” 

Experts in sociology also warn that technology alone is not shaping children and their maturity. Confounding variables found in much more intensive parenting styles will also reflect on the youth. With all things kept in mind studies find that children are not growing up faster in terms of society, culture, or biology. Rather a view of what constitutes a ‘grown-up’ may be skewed in society. 

All views expressed in this editorial are solely that of the author, and are not expressed on behalf of The Analyst, its affiliates, or staff.

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