Are Australian Tesla’s about to get cheaper?

white tesla

Are Australian Tesla’s about to get cheaper? An encouraging report is suggesting that Australian deliveries for Model 3 and Model Y from Tesla, may be delivered from Giga Shanghai towards the end of 2020 beginning of 2021. 

It has been a major point of contention, that the prices in Australia are too high for the average person. 

The idea of Tesla’s being manufactured and delivered from Giga-shanghai is not a new idea but one that many have requested for a while, my self included.

Australian Prices

If the Model 3 and Y are to be sold as a family car, or as the car for the masses, then the price needs to be more affordable, around the $30,000 – $40,000 dollars mark.

This price would give price parity with the average ICE vehicle and allow for natural competition. Currently in Australia costs of Tesla’s are almost double these amounts.

Now of course, part of these cost are taxes both Luxury Car Tax (LCT) and Import tax and every other person who is involved with the delivery tax. 

breakdown of a tesla

Giga-Shanghai

GIGA Shanghai
Featured Image Credit: WuWa Vision/YouTube

There is a possible change for the delivery of Tesla’s from Giga-Shanghai to the Southern hemisphere, inclusive of Australia, this was reported by Bloomberg and shared by Sawyer Merritt on twitter.

This change in location of manufacturing and delivery increases the chance of a possible price change. That would make the Model 3 and hopefully Model Y see price drops and become more affordable and achievable by the average person in Australia. This would continue to help to support the Tesla Mission. 

The news that it may actually be occurring is exciting for Australians looking to make their next purchase an electric car. 

The Electric Vehicle Council released a report in August 2019 called the State of Electric Vehicles. This report highlights some of the details relating to the possibility that 53% of people either already own or are thinking about purchasing an electric car as their next vehicle.

Model Y ordering

Model Y not an order page
Courtesy of Tesla.com

In Australia the Model Y is yet to be able to be ordered. This is not in line with the Model 3, which was available to be reserved from almost day one of the announcement. 

This delay with ordering could be aligned with the decision to ship cars from Giga Shanghai. Giga Shanghai has a number of buildings being constructed currently which have been rumored to be for the Model Y.

These would need to be completed for deliveries of model Y to Australia to occur.

Based on reports the building are close to being finalised which would in turn align with the timeline suggested for Giga Shanghai deliveries to Australia. 

Prices in Australia

Are Australian Tesla’s about to get cheaper? EV-HQ in February of this year commented on the prices of Tesla’s in Australia on Twitter and Elon Musk responded with this tweet.

This response was an indication that he also believed that prices for Tesla’s are too high, which he reinforced at the recent shareholders meeting held in July 2020, Tesla, Inc. Q2 2020 Financial Results and Q&A Webcast.

Tesla’s mission of transitioning the world to sustainable energy and transport must at its core be able to be flexible in the execution. The possible change to delivering and manufacturing vehicles for the Southern hemisphere and right-hand drive (RHD) countries is another step towards this achievement. 

Opportunities for Fremont

Fremont factory
Image courtesy of CleanTechnica.com

The knock-on effect of a change like this opens the way for reduced reliance on delivering all models of the Tesla fleet globally from Fremont and disperses the deliveries across the network of factories. Thus, building redundancy and stability in manufacturing and deliveries.

It also allows Fremont to start planning for the manufacturing of the Roadster which Elon has mentioned would come out of Fremont factory. 

Are Australian Tesla’s about to get cheaper? It is encouraging to see that possible changes may be coming to the way Tesla is progressing their vision and the positive impact it can have on the average person is a win for the individual, and also for the world as we try to fix the issues that we have caused over the last century. 

Dave 

David McCann
David McCann

EV_HQ founder

DAVE’S Blog posts

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Eco system lock in

world from space
Image by motionstock from Pixabay 

Eco system lock in, Tesla has grown from a small startup car company to a global leader in EV technology.

Are Tesla heading down a road that is predicated on the fact that people need to be in the ecosystem to get the benefits of the companies’ technologies?

Since apple’s recent concern regarding the app store I have been wondering if this is something that Tesla needs to manage as well. 

Apple

Apple products
Photo by Serpstat on Pexels.com

Apple has in recent history been criticized for not being more transparent and open. They pride themselves on privacy, which is good business sense, however it does come with some draw backs. 

When you as the customer buy apple products you are open to the opportunities apple provides. Firstly, you have the ability to create an account, once you have the account the following becomes available to you;

  • Access to the app store 
  • Apple Music
  • Find my family
  • Apple Maps
  • Apple TV, Apple TV+
  • iTunes Store
  • Etc. 

These are mostly software application portals. These days you can get a credit card (USA Only) which locks you into their banking, Apple pay system, where they offer incentives for spending more. 

Apple is working to be part of your health management with the apple watch, health app, integration with Medical Record systems like Cerner and aligning with the Mayo Clinic to develop research projects that utilize the customers of the apple products. 

This innovation has a lot of positives that benefit many people and make their lives better. It also helps to keep people locked into their ecosystem.

Let’s Imagine for a second

Let’s Imagine that you have been using and integrating with apple products for 10 years and a new company with the newest and greatest product comes along and you want to change! 

It is at this point that Eco system lock in becomes real. 

Trying to transition all your devices and your information from the last 10 years could prove to be a challenge, not to mention costly.

So why does Tesla need to be cautious?

Tesla is starting to build a singular experience for the amazing technological cars they design and build.

These cars require an account, and they have an inbuilt ecosystem within the vehicles. This is complimented by the phone application that allows you access to your car and account. 

Tesla offers an eco-system that is not beholden to just cars either. Their products include solar panels, solar roof’s and Tesla batteries.

Their mission is to transition the world to sustainable energy and in doing so it would be reasonable to consider that this would include realization of new and innovative products. 

As any new product is introduced it is another way to get locked into the Tesla Ecosystem.

Tesla has the opportunity to avoid ecosystem lock in and look at the ability for the products to integrate with other systems long term. To bring others along for the journey to a sustainable nonpolluting energy production future. 

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This is the start of an ecosystem. 

Tesla Charger
Image by ElasticComputeFarm from Pixabay

Elon Musk is a very smart guy and he has helped to bring some of the brightest minds in the world to Tesla to develop the amazing products we see today. These people have started Tesla down the road of creating an Eco system that is exciting and futuristic. 

One of the most interesting parts that highlights the different thinking that Tesla is bringing in the early days that even apple did in the early days of its resurrection.

They are offering the ability for other car companies which may not have the technical know-how of electric cars to utilize their drive chain and batteries.

This is encouraging to see. I would hope that into the future the software systems may also be integrated.

It shows the thinking that is occurring in Tesla that just may indicate that they hopefully are trying to avoid the issues related with Ecosystem lock in. 

Tesla is aspirational and is looking to grow and develop a fandom and customer base that keeps coming back for more.

The Tesla community are passionate, sometimes to a fault. They are driven to see the world and the Tesla Mission realized. 

This group of passionate people want nothing more than to enjoy their cars, spread the fun and passion they have to the rest of the world and hope that Tesla comes out on top. They profess that once you go electric you will never go back. 

This is extremely true for Tesla because they are so far ahead in technology and performance. 

Tesla’s ecosystem is growing, and the passionate fans are growing with them. The early adopters have been the vocal few for many years and have continued to share their passions with their family and friends and the rest of the world.

Compare

I am an apple fan boy and have been for many years. In my collection of products i own iPhone, iPad, apple TV’s etc. I am a tragic ecosystem lock in having influenced friends and family to buy.

This has been not just because I love their products but also because their operating system just works and is easy to navigate. 

Tesla aligns with similar features, they have products of which I do not own any yet, but when I do, I will want to buy more and share that with family and friends. 

Both companies have a number of similarities;

  • Create an account 
  • App helps to manage that account
  • Applications can be access through the products
  • Software updates bring new functionality
  • New products help to improve your lives

Customers!

At the heart of any company wishing to sell their products Customers are the life blood. Customers are the ones that will make or break you as they will do their talking with their money and their feet. 

In the case of Tesla, the customers are their greatest asset. They do a large amount of promotion across social media and they expect a lot from the product. 

They are passionate and loud, but they do not go into buying a Tesla blindly, they do their research they understand the products and the company well before purchasing. 

CEO influence

Elon Musk is the most vocal CEO of any car company across the globe and with that it allows a unique opportunity for people to engage and influence how the world of Tesla moves forward. 

This unique relationship helps to allow the community voice to guide the future of the car company.

This unique relationship can help to avoid the ecosystem lock in with the customer helping to show the way and have a voice at the table. 

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But ecosystem lock in Is real. 

Eco system lock in is real and once a customer purchases all Tesla Products one could argue that they are locked-in to Tesla’s Ecosystem.  

One of the main reasons that the customer would consider Tesla first if already part of the Ecosystem is the familiarity of the products. 

It is a person’s ability to realize it is easier to connect to an already established eco system than it is to buy new cars, solar panels and batteries. Tesla sells large purchases, it is hard to change your solar panels, car or house battery year to year.  

Tesla stands out, and looks to the future

There is, some positive things to look towards that indicate that Tesla is trying not to have a walled garden completely. Recently, Elon Musk said on twitter that they are open to allowing other car companies to use their components from Tesla for their cars, drive train and batteries. In the future it may even be software.

This glimmer of positivity to open the Tesla ecosystem to others is important and should be pursued.  It is a positive step towards improving the ability for other companies and products to interface and avoid the eco system lock-in that other companies have become accustomed to. 

Tesla has a mission that is greater than the parts of Tesla itself and that shows the true human factor behind why they want to change the world for the better. 

If there is to be an ecosystem lock-in then lock in to the ecosystem we live in and help the environment we live in.

Ecosystem
Image by enriquelopezgarre from Pixabay

People at the end of the day have a choice, they have a chance to decide for themselves. 

Eco system lock in is something that could happen to Tesla and the customers. The question is will it? That is yet to be decided. 

I hope that the future they wish to achieve, based upon their mission, is the one that we all focus on and use of the technology they produce to help achieve this goal is open for everyone to enjoy. 

I would think that the ecosystem supports the goal not the other way around. 

Through the roof

Tesla Model 3 driving down dark road
Photo by Dylan Calluy on Unsplash

Through the roof, what a week. 

This week has seen one of the most thrilling weeks in the Tesla stock price I can remember since taking an interest a number of years ago. 

Stock Price

I am a small investor as I don’t have a lot of money to throw at Tesla, but I am an avid fan. This week I have watched in awe at the original people who got on board of the Tesla Train back when the share price was around the $150 mark.

They bought what they could and when they could for many years hoping that one day the vision that Elon Musk kept talking about would come true. 

Well this week was that week for many. Most of the people who posted on twitter were just simple average people who put money in and now they find themselves with bigger than expected outcomes. 

Some have cashed in and made their lives easier. Other have decided to keep ongoing on the Tesla train and most have taken some and kept some. 

I too have had a small amount that has grown with them and in a small way I have enjoyed the ride. Would I have liked to have more invested? Yes of course but like I have said before I am an average guy. 

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The word Future with man Creating it

Tesla Future

The reality of what Tesla can achieve is always going to be one of my passions not just because of the Stock price but for the amazing technology they produce. 

Tesla is just about the split their stock so that the price is lower so that more “retail “investors can get on board. I will take advantage at that time as well and grow my footprint of how much stock I own. 

I am truly excited for what is coming down the pipeline and for Tesla going through the roof.

  • Possible inclusion in S&P
  • Tesla Battery and Investor day 
  • Release of Model Y to the rest of the Globe including Right Hand drive Countries. 
  • Cyber truck release
  • Semi Release
  • Cyber Quad (if this ever happens)
  • Roadster

These are just some of what is yet to be realized with Tesla. 

I have no doubt that Tesla will continue to innovate and grow their ideas and footprint globally. That is why I am a fan and someone who is loving the ride. 

I will in the future own a Tesla so I can share my passion for the cars and brand. 

Tesla will continue to be a company that leads the way into the future that as a kid I was always promised. 

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I cannot wait to see what the stock price does next and how others are rewarded for their passion and support of Tesla. I hope that it goes through the roof.

Dave 

David McCann
David McCann

EV_HQ founder

DAVE’S Blog posts

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Tesla Stock Split – Part 5

(Dave’s Journey to owning a Tesla) 

tesla bespoke wheel
Photo by Tommy van Kessel 🤙 on Unsplash

Tesla Stock Split- Part 5 is the next part of the Dave’s Journey to owning a Tesla. 

Disclaimer – This information is my own opinion. I am not a financial advisor or affiliated with any financial institution. 

Part 3 – The Entrepreneur, and Part 4 – Taking my own advice, discussed the ability to grow your income through innovation of thought and applying fresh ideas to already existing problems and finding a way to monetize that approach. 

Let’s talk about the stock split!

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Stock Split

In the last week we have had a significant pivot in the way Tesla is looking at their future growth. The news which was reported by Tesla themselves outlined the Tesla Stock Split of 1:5

This stock split is not unprecedented in the world of stocks but for the average person who has not been a shareholder or involved in any company that they held shares for, this is an interesting thing to do.

The BareFoot Investor as part of their strategy, also talk’s about investing to grow wealth over time. 

The Tesla stock split is interesting by the fact that it allows those of us who are average people with little ability to spent thousands of dollars on stocks and investing, we now have the opportunity to invest just a couple of hundred dollars and become part of something we have a passion for.

For a lot of people investing in a company that aligns with their values, to help improve the environment and increase the ability for the world to transition to renewables is now reachable. 

So, what does 1:5 share split mean? 

If you as a shareholder currently with Tesla and you have a full share, then as of the 28th August you will end up owning 5 shares on the 31st August. 

The total of those 5 shares will be the same as the original share. For example, if your original share was $1500 before the stock split. After the split you will have 5 shares valued at $300 each, $1500 in total. 

So why is this Part 6 Tesla stock split part of the Dave’s journey to owning a Tesla? 

The share market is a way to grow wealth so long as you listen to professional advice, and based on your assessment of your own financial position and risks, you proceed with caution while being well informed. 

As I have said I am no financial wiz, but this is one-way I can grow wealth to achieve my goals while staying true to my values.

This is an opportunity if you like Tesla( https://www.tesla.com/en_au/ add link ) and you wish to be part of the retail investor environment, want to back a company that aligns with your values on the environment and own a cool car and technological products then look at this opportunity. 

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If you don’t have the money, then don’t do it! 

If you have financial difficulty this will not get you out of trouble. 

Look for opportunities that you are happy to accept the risk (loss) on. 

Investing is risky and can be fraught with peril if you don’t do your homework. 

But for me this is something I have long been working towards and I am going to try and take advantage of the opportunity before me. 

passion led us here, looking down at the words and shoes
Photo by Ian Schneider on Unsplash

I believe Tesla has a long way to go and has road map that doesn’t end with the cyber truck.

I am looking to the future and seeing that I have an opportunity to get one step closer to the end goal of owning a Tesla and helping to assist the world to transition to sustainable energy and transport. That is the ultimate goal.

Dave 

David McCann
David McCann

EV_HQ founder

DAVE’S Blog posts

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Part 4 – Taking my own advice

(Dave’s Journey to owning a Tesla)

Red model 3
Photo by Vlad Tchompalov on Unsplash

Welcome to Part 4 – Taking my own advice, just like parts 1-3 of Dave’s Journey to Owning a Tesla we have discussed the ins and outs of why I want to own a Tesla.

I offered up some good tips and ideas on how we can find ways to earn more money to grow our fund for Tesla. 

In Part 4 Taking my own advice, I start to explain some of the ways I have started to accumulate the funds that can help to grow my Tesla fund. 

Of course, like any discussion that starts when you are wanting to prepare to change the way your money is divided up watch fortnight or month depending on when you are paid, you have to discuss it with your partner. 

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Share the passion

In my case I sat down with my wife like we do regularly and worked through how we might put money aside to start the ability to grow our saving for a car. 

This conversation focused on finding flexibility in our budget to allow for a separate amount of money focused on delivering a car down the track. 

Barefoot process helps

As I have mentioned before we follow the Barefoot investor formula. One of the benefits to this is we have a very clear picture of where our money is distributed and where we might be able to make subtle changes to allow for this money. 

We found an amount that both of us were comfortable with and we started to plan ahead. 

But of course, this was never going to get a Tesla in the next couple of years. So, I started to think like an Entrepreneur as I outlined in Part 3. 

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Think like an Entrepreneur

As you are well aware, I have created over the last 18 months a website and following on Twitter of people with like-minded ideas. We are passionate about Tesla and the electric vehicle future that is now in full transition. 

So, I thought how can I share this passion and generate small financial benefit in doing this. I had recently noticed a couple of people I follow had started their own merchandise store. 

So, I decided to do the same. 

Merchandise

It took me a number of weeks looking for the right way to create the merchandise shop. 

Many hours were spent putting together my store and the imagery of the store. But what took the longest was the selection of using the Spreadshirt site. 

There are literally hundreds of these stores online and of course not all are equal. I chose spreadshirt based upon a recommendation. So far, they have been a simple yet effective way of planning my store. 

The other key part was to allow it become part of my website not just another link but embedded. 

Spreadshirt does all of this with Word press which my website is hosted by and allows it to be a store on a page. 

It was always my plan to give a good choice of products for people to access. I will continue to review and update this store over time. I hope it will allow others to enjoy and share with me and my passion for electric vehicles. 

Dave 

David McCann
David McCann

EV_HQ founder

DAVE’S Blog posts

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The EV industry is evolving

Image by Tayeb MEZAHDIA from Pixabay 

The EV industry is evolving. Electric vehicles have started to become more mainstream. This has been much more apparent in recent weeks with the introduction of the new electric vehicles from car manufacturers. 

Nissan showed the world their new vehicle the ariya. This is a SUV cross over vehicle designed to compete with the likes of the Model Y.

Nissan Ariya
Image courtesy of Nissan.com/Twitter

It is fair to say that they have the best opportunity to step up as they have had previous success with the original Nissan leaf and more recently with the New Nissan leaf.

China has also been rolling out new products to the market in the last couple of weeks Lucid motors, Xpeng and a flurry of others have all introduced vehicles to the market. 

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Why now?

The EV industry is evolving which is why 2020 was always going to be the year of the electric vehicle. 

In 2018 there were a number of car companies that introduced their idea of what the electric vehicle could be.  The concept electric vehicles were futuristic and feature rich.

It was the beginning of the evolution of the motor vehicle and a push into the future of transportation. 

A pivitol change year for the car industry. 

As it turns out it was to be a change year for more than the car industry. However the rise of the corona virus ( COVID_19 ) put a fly in the ointment. 

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2020, Not what we expected

With the isolation and social distancing that occurred a lot of people and products were put on the back burner.

Some companies have been able to release their products and adapt to the changing environment whilst others have been delayed.

Suppliers were not able to supply the key components of the new cars as they too were impacted.

It is difficult to build a car when you are reliant on other manufacturers to deliver components for your cars. 

One of the car manufacturers that has not been as challenged has been Tesla. Yes, they had to shut down and Yes, they had to abide by social distancing rules but they have adapted and risen to the challenge. 

One key part of their success has been their use of robotics and also good management of the environment their staff were returning to. 

Tesla Return to work playbook https://www.tesla.com/sites/default/files/blog_attachments/Tesla-Return-to-Work-Playbook.pdf?redirect=no

The factory has continued to deliver cars over the second quarter of the year which surprised everyone as the outcomes of deliveries where larger than expected. 

Even though we as a global society have had to change how we think, live and work in the last 6 months I believe this is only going to make us more resilient, resourceful and conscious of the outcomes, of our actions and our ability to see the possibilities in what we can do to make our lives and the future a better place to be. 

Dave 

David McCann
David McCann

EV_HQ founder

DAVE’S Blog posts

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PART 3 – The Entrepreneur

Dave’s Journey to owning Tesla

man looking at a wall with ideas
Image by Pexels from Pixabay 

Welcome back to Part 3 – The Entrepreneur, Daves Journey to owning a Tesla.

Part 1 and Part 2 we have discussed strategies about money management and the beginning of the journey, now let’s talk about the Part 3 – The Entrepeneur.

Part 3 – The Entrepreneur- Elon musk is by his own admission an entrepreneur. His beginnings with his company X (PAYPAL) and continued with Tesla, SpaceX, Neurolink, The Boring Company and beyond. 

This passion to discover new and exciting things has driven his ability to create industry leading companies out of nothing. He has had great people who have supported him along the way to achieve his current status. 

This thinking can allow us to work towards generating enough capital to purchase a Tesla.

We need to think like an Entrepreneur. 

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Holidays help you think!

man looking out to a lake
Image by Free-Photos from Pixabay 

I recently went on holidays and whilst there I met a young man who had started his own business. He looked at a simple skill that was taught to him by his aunt and found a way to make money from that simple idea. 

During this time he explained that he has also developed new skills that have helped to grow his understanding of the opportunities that before where unknown.

It helped him grow his confidence, passion for running a business.

This simple conversation allowed me to think about opportunities that may be present to assist with owning a Tesla sooner. 

Think like an Entrepreneur

To think like an entrepreneur means to look at the world differently. To take stock of what you believe as the norm and see if there are ways to put a different spin on it. It is to find solutions to issues that already exist. Review what you do and see if you can find a simpler way to execute on it. 

Part 3 – The entrepreneur is looking to help to determine what simple principles are in this thinking.  

  • Look for opportunity – new and fresh ideas
  • Think outside of the box
  • Try to find a new way to do old things
  • Review what you do and see if you can find a simpler way to execute on it. 
  • Follow your passions

How to execute on these above ideas. 

Look for opportunities – new and fresh ideas
  • Like the young man, he saw an opportunity by being taught how to create candles that his aunt showed him, he then took that and turned it into a business. 
    • Teach yourself new things 
    • Identify if there is a need for this new skill in the world around you 
    • Speak to people around you to see if your idea makes sense and has merit. 
    • Write it down 
    • Break it down into cost versus, output and return. 
Think outside the box
  • Sometimes we do daily tasks that take no attention to complete. These have been things we have learned or picked up along the way. 
    • Pay attention to your daily tasks. 
    • Think about what you are doing and see if there is a better way. 
    • Don’t be afraid to experiment
    • Failing is ok as this lets us learn and find another way. 
Try to find a new way to do old things
  • The old saying that “we have always done it that way”, is exactly what you want to find with this one. 
    • When you think about that statement it’s time to review what you are doing. 
    • Break down the process, step by step, and find fresh ways to manage the situation 
    • Look to technology and see if technology can help the issue at hand
    • Look to other processes and find comparisons that allow for simplified ways of managing the issues.
Review what you do and see if you can find a simpler way to execute on it. 
  • Keep it simple Stupid or the KISS principle has been a corner stone of my thinking for a while. This is the type of thinking that may find opportunities for you to execute upon. 
    • Every day we do things regularly both at home at work and beyond. These are the areas you can look for opportunity.
    • Pay attention to what you are doing
      • driving and the things you do in those transitional stages between events 
      • walking 
      • cleaning the house 
      • Etc. 
Follow your passions
  • Last, but far from least it is imperative to follow your passions. To follow your passion allows you to stay focused when times get tough or obstacles get in the way. By thinking like an entrepreneur gives you the courage to find solutions to issues and problems and continually move forward.  
    • Look to your hobbies
    • Review the things that you enjoy watching on social media
    • Look at your Pinterest and see what you have saved 
    • Review your twitter feed to see who you like and follow 
    • Talk with friends and family and ask what they see as your passions
    • Be true to yourself because if you aren’t driven by it you will not enjoy the rewards
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tesla model 3
Image courtesy of Tesla

I am passionate about Tesla and the possibilities that Electric vehicles and non-polluting renewable energies can provide. 

I will be taking my own advice and looking for opportunities in what and how I do things to find the idea that just might help to grow my ability to step into my own Tesla. 

Part 3 – The Entrepreneur, Don’t lose your ability to have new and fresh ideas, don’t ever feel that an idea is not good enough. Remember the old saying one person’s trash is another person’s treasure. This is the quintessential entrepreneur thinking. 

Dave.  

David McCann
David McCann

EV_HQ founder

DAVE’S Blog posts

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Part 2 – The Tesla Saving Strategy

Dave’s Journey to owning a Tesla

Welcome back to Part 2 – The Saving Strategy , Dave’s Journey to Owning a Tesla.

endless road - Part 2 - The Tesla Saving Strategy
Photo by Simon Migaj on Pexels.com

Last time in Part 1 – Lets Begin I wrote about the path forward, looking at how I can gain enough capital to make the loan amount for my Tesla much more palatable. 

Over the years I have been the typical Aussie, looking for a quick win to make a few bucks. 

But as most people when you’re young you’re not really any good at finances. The misconception is that it’s easy. 

I tried to save in jam jars, I tried to work two jobs, I tried working more shifts, I even went to financial experts (so called) for advice on investing which ultimately lead to more debt and harder times ahead. 

On the upside I have a house, a job and a current gas car, so all is not lost. 

In recent years I have become more interested in the concept of making my money work for me, not I for it. In this vein I started to look at different strategies on how to minimize my costs and improve my capital. 

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Why a Tesla?

I have been a fan of Tesla now for many years as some of you already know. In that time I have bored my family to death about the possibilities the car and mission provide. I have spoken at length about Elon Musk and the Tesla products. I have written many blog posts about the same. So why do I want to own one of the most expensive electric cars in the world and not just settle for something cheaper. 

Simple, I am a tech nut, I love gizmos and gadget, I love to pull things apart to better understand how they work and then try and put them back together, not that I would do that to my Tesla. 

I am an early adopter of new tech and love to see what the next frontier looks like. With this in mind Tesla ticked all the boxes that drive my curiosity and passions. They are a tech company first and foremost. They strive to do better for the environment, and they do it with one sole purpose to transition the world to sustainable energy and transport. 

It is because of this that I am a Tesla fan. No doubt. So, when making the decision to start my journey to owning a Tesla it was not a hard decision. 

I want to share what I have learned in the hope that others may find a way to do the same. 

In Australia owning a Tesla is not a cheap experience. We do not have the luxury of being able to buy a Tesla for $40000 dollars as they do in USA. So, we have to plan and strategize to be able to afford them. It can take years. This is why I am writing down my ideas and processes so others can come along with me. 

Different ideas!!!

I came across a strategy online about how you use a credit card and then at the end of every month you pay that down so on and so forth. This was my first attempt at getting ahead. That failed. All it did was increase my debt and caused more tight times ahead. So, I started to read and search for ways to maximise my saving s by cutting costs and reducing incendiary expenses. That’s when I found a book that would start my family on the road to better financial independence. 

Bare Foot Investor……

man in field sunrise- Part 2 - The Tesla Saving Strategy
Image by Pexels from Pixabay 

Scott Pape is an aussie finance guy. But unlike the stiff upper lip and suited up bank guys he is a guy who lives on a farm with his family and dog. He talks about investing and money management in simple easy to follow terms, and that’s right up my alley. 

He is an aussie through and through. “The Barefoot Investor” book is one of the most practical money management books that I have read in years. It outlines simple to follow, step by step instructions to set yourself up for better financial times ahead. 

His advice is not hard to follow, or difficult to comprehend, it is straight talking simple information and steps out how to help get your finances in order. 

Not only that he gives tangible instructions on how to manage your money now and into the future. 

So, I dived into his book and read it cover to cover in a short time. When reading it with my wife and I speaking at length about the strategies and the practical steps he suggests. They all made much more sense than anything I had read before. 

So, we decided to do it.

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My Path

It has been 2 years since that decision. 

The last couple of years have thrown a couple of curve balls at my family and we have kept our heads above water with the support of the Bare foot investor process. Do we still have debt? Yes. Do we still have a mortgage to pay? Of course. Do we have a way forward to paying down the debt? Absolutely, because we have an understanding of what to do now, whereas before we never had a strategy that worked?

And that’s the trick. It is not all about making money in 5 mins, it’s about being flexible to anything life throws at you. 

One of the cores to his strategy is the idea that talking about money regularly allows for better understanding of the process and also allows for deeper knowledge of what you are doing with and for your situation. 

He introduces bare foot dinner date nights every week at the beginning and then monthly. During the date nights you read a chapter of the book which outlines a specific process, and work through the steps.  

Now I know what you’re thinking, that this sounds like smoke and mirrors, but I am telling you as someone who needed financial guidance and who used this process to effect, it works. 

But with all things you have to be disciplined to make it work. 

Buckets and accounts

piles of coins and a jam jar - Part 2 - The Tesla Saving Strategy
Image by Nattanan Kanchanaprat from Pixabay

Part 2 – The Tesla Saving Strategy

He talks about different buckets for your money, 

  • Blow
    • Your money, pay to pay, to do with what you want. 
  • Grow
    • Savings that allow you to save for retirement and big events. 
  • Mojo
    • Emergency back up money to replace your credit card bill. 

Reference “The bare foot investor” 2018, Scott Pape.

He then talks about setting up different bank accounts including:

  • Smile – (10 % of wage after expenses accounted for)
    • Saving for big things like holidays and cars. 
  • Splurge- (10 % of wage after expenses accounted for)
    • Money to enjoy between pays, everyone needs some flash money. 
  • Fire Extinguisher (20% 0f wage after expenses accounted for)
    • Increase your ability to pay down debt

Reference “The bare foot investor” 2018, Scott Pape.

Like I said his strategy is simple yet effective. 

So, with this strategy I am confident that within the next couple of years I might just be able to get enough money in my Smile account to be able to afford a Tesla. 

Scott Pape also looks at Superannuation, Investing and saving money on bank accounts and the like. This book has helped not only me, but many others get financially stable and work towards a better financial future. 

Beginning the journey

As I start part 2 – the Tesla Saving strategy, I know I will ebb and flow with the tide to get a big enough deposit to make it work. 

Life is tumultuous, dynamic and stressful but ultimately if you can stay the course, manage what you have, the best you know how and look at the goals you want to reach anything is possible. 

Thanks to the barefoot investor, Scott Pape, for writing the book and allowing me to grow my understanding of simple money management. 

I know somewhere in the coming years I will be driving my Tesla and knowing that my family and I have worked hard to make a dream a reality. It will also mean I can enjoy doing my part to help the environment and the future of our children. 

Dave

Disclaimer

Hope you enjoyed the ideas and within the Part 2 – The Tesla Saving Strategy and hope that this helps to give some ideas on how it is possible. All information within this blog relating to Scott Cape is my own thought sea feelings. I have referenced his book and have not been sponsored in any way.

David McCann
David McCann

EV_HQ founder

DAVE’S Blog posts

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Part 1 -Dave’s Journey to owning a Tesla

Lets’ Begin

Dirt road and the word start
Image by Gerd Altmann from Pixabay 

Part 1 -Dave’s Journey to owning a Tesla, I started this Website and Blog as a way to be part of something greater than myself.

What I found was a group of people just as passionate. Passionate about improving the environment and enjoying the cars whilst they do it. 

I have written this blog for over 18 months now. During that time I have had a second goal that I want to achieve. Owning my own Tesla. 

Tesla 

tesla model 3
Image courtesy of Tesla.com

Tesla Mission is the transition, of the world, to sustainable energy and transport. This mission aligns with my passion for all things electric cars and improving the future for our kids and generations beyond. 

But as many would know owning a Tesla in Australia is not so easy. The cost alone is high and there are too few incentives provided by the government. 

However, I am not swayed!

My passion to own a car that does not pollute when driven, has safety and technology at the core and can drive for over 500 km’s on a single charge just inspires me to begin the journey to ownership.

It is truly the iPhone of the motor vehicle world. 

Dave’s Journey to owning a Tesla

road with words follow your passion

So, my original plan was to get solar panels, then, a battery, followed by the Tesla. I have so far had solar installed a number of years ago and have not quite had the opportunity to get the battery installed. 

But if I am to own a Tesla, I need to start to put the pennies away.  

So, I am writing this new series to outline my process of getting there. 

It will be my mission to update you with my strategies, ideas, and outcomes, regarding how I am going with saving for a Tesla. 

By saving some money, over time it will allow me to grow a big enough deposit that the loan amount and repayments are manageable. Then we can look at the best loans.

To own the car sooner rather than later would be ideal, so I will try different strategies of maximising money. Any opportunity that i can earn more money through being thrifty or odd jobs I will write about here.

The goal is to show, and explain, how it is possible by showing others that it is, possible to own a car that could and has changed the future. 

My Starting Balance 

My starting balance is zero ($0) dollars which means that I am starting where most people start, at the beginning of a journey not knowing what’s to come, not sure where it will take me but excited by the possibilities that I have before me. 

A few months ago I had a response from Elon Musk around the prices in Australia. Since then a lot in the world has changed. So I have decided to work towards my goal.

I know the car I want, it is a Model 3 Long range, Red with Full Self Driving. It totals currently at AUD $113,000 drive away. 

break down of price for Long range model 3
Courtesy of Tesla.com

The performance model 3 was considered but due to price and the fact that I live in Australia and distance is king, I decided that the long range still has all the bells and whistles I need. 

Of course, I do like the base model with no bells and whistles that costs $88,000 drive away and most likely will be the one I end up with as the price hopefully will be more manageable. 

(insert image)

breakdown of price model 3 standard range plus
Courtesy of Tesla.com

But ultimately, I want a Tesla, sure there are other electric cars I could choose, and they are priced similar or a little lower than the Tesla however I have looked at them all and my heart is still set on a Tesla. 

So, I hope you find my blogs interesting, inspiring, practical and helpful. This is a journey we can share and I hope you follow along.

Part 1 – Dave’s Journey to owning a Tesla is my ideas and thoughts, I am not providing any financial advice or making any suggestion that I am an expert, I am just sharing my experience and passion for working towards a goal of mine.

So, thanks for sticking with me so far. The best is yet to come. 

Back to the beginning of where all good ideas start, an idea, a promise of what’s to come with savings, our passion and our love for Tesla and electric vehicles together we can achieve great things.  

Dave 

David McCann
David McCann

EV_HQ founder

Tesla share price hit $1000 let’s not forget the Mission

Tesla share price hit $1000, let’s not forget the Mission. In the world of today money makes the cogs turn and grind. We are in an unprecedented time when the world of electrification is at a pivotal point. History is knocking at the door and we as a society are starting to look and hear what that means. 

Share price rise

The COVID-19 pandemic has given the world a wakeup call to the importance of looking after the environment. One of the first helpful step is to transition gas cars to electric cars. 

Tesla Share Price

This week we saw money truly take hold with the share price of Tesla hit $1000 a share. This milestone for Tesla is important as it allowed them to become the most valuable car company across the globe. 

The significance of this milestone is profound, Tesla’s mission is all about transitioning to a sustainable future. Electrification is the method to alleviate the issues with climate change.

Tesla has made it very clear that the products they supply can and will allow for clean production, storage and use of energy. 

The share price rise is one indicator that people are starting to see that what Tesla offers and has in the new development stage is quite compelling. 

The possibilities that the Tesla vehicles possess are far ahead of any competitor. This head start is what makes TMesla a valuable asset to hold. 

Australia

Tesla Giga battery in australia
Image courtesy of Tesla

Recently in Australia there has been a shifting of the sands towards investigating the possibilities for electric vehicles. More car companies are starting to deliver new electric cars to the market for example, Kia, Ford and Hyundai.

The government still continues to be slow in their approach towards climate change and by extension electrification of motor vehicles. This apathy will lead to Australia falling behind the rest of the world with moving to a sustainable future. 

Tesla is just one of many companies working to bring cars to the market. They, however, differ greatly from other car manufacturers as they believe themselves to be a technology company not a Car company. 

This distinction is what allows them to be progressive and motivated to develop and grow new and compelling ideas. It is this fresh thinking that gives rise to new means of transportation, new ways of capturing and utilizing energy and unseen new ideas yet to be discovered. 

To follow the old handbook is to be left behind wondering where everyone went. It’s time to look at a new approach.

Like tesla with their dedicated mission and diversity of products it’s time to realize that helping the environment is not a one trick pony but a wholistic vision that encompasses more than just one product.

Sun cresting the Earth

To deliver a mission that encompasses many products to achieve an overall outcome seems to be the best way forward as Tesla has demonstrated. So, its important that Tesla share price hit $1000 let’s not forget the Mission that they are heading towards.

Tesla has proved that this is the way forward. I hope that when people support Tesla by buying their shares they are doing so because they want to see the mission moving forward. 

Dave 

David McCann
David McCann

EV_HQ founder


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