Elon Musk is manufacturing batteries, computer chips and many vehicle components in-house. Photo by ... [+]
Tesla CEO Elon Musk, who has spent more than a decade trying to reshape the traditional auto industry, is sounding more and more like one of the industry’s greatest pioneers, Henry Ford.
Inside his strategy of creating affordable electric cars for the masses, Musk is starting to implement many ideas pioneered by Ford, including vertical supply chains and manufacturing efficiency. Over a century ago, these processes helped to popularize the American automobile by reducing the cost of its signature Model T.
The man who wants to put a Fitbit in your skull to summon your Tesla, Musk is manufacturing batteries, computer chips and many vehicle components in-house, and securing the necessary supplies of raw materials by challenging accepted industry trends that favor outsourcing to lower-cost global supply chains. According to Musk, in-house is the way to go.
In the same way as Ford was ridiculed in the early 20th Century, Musk was frowned upon at first. Today however, Tesla doubters have been forced to eat their words as the company redefines EV design, manufacturing capability and efficiency. He was able to do that because Tesla made good-looking, unique EVs with acceptable range, an innovative interior, easily downloadable updates, great on-road dynamics and a dedicated charging network. The build quality, according to one expert however, needed significant tweaking.
Sandy Munro knows a thing or two about automotive construction. The former Ford engineer whose consulting firm, Munro & Associates, specializes in reverse-engineering and competitive analysis for the auto industry, disassembled a Tesla and was surprised by what he found.
“Two years ago, after taking apart a Model 3, I couldn't believe how bad the body was put together. Everything else, including the powertrain however, blew me away,” says Munro.
Now, after poring over every inch of a disassembled Model Y, its newest product, Munro says Tesla's improvement is remarkable. "They're going to go from worst to first in a short time,” he insists.
Tesla still has work to do on paint quality and fitting body panels together, but several engineering innovations stood out, says Munro.
Designed in-house to one day enable full self-driving capability, Tesla’s new proprietary computer chip is manufactured in Texas by South Korea’s Samsung. Munro also praised the “mega-casting” of the Model Y’s body. The entire rear of car is shaped from a single aluminum casting, rather than hundreds of pieces of steel welded together. That translates into better quality, less weight and easier assembly. And by inventing its own unique aluminum alloy, Tesla eliminated multiple steps in the body manufacturing process.
Tesla CEO Elon Musk unveils the new Tesla Model Y at its debut in Hawthorne, California on March 14, ... [+]
Last year, I drove the Model 3, after piloting the Model S and Model X, and was suitably impressed by the massive advances in the 3’s refinement, ride quality and handling. According to what Munro says, the Model Y is a revelation.
With Tesla possessing factory capacity in the U.S., China and Germany, and from next year in Texas, and competitors like Nikola and Rivian entering the EV space, demand for batteries is rapidly rising, making raw material procurement a top priority. Last month, on a call with investors and analysts, Musk spoke about the possibility of a “giant contract for a long period of time” to nickel miners that can boost production.
Analysts also speculate that Tesla will invest in its own lithium mine, a crucial raw material for producing batteries. If he achieves that goal, then according to Munro, Musk will be able to make a battery 30% cheaper because he will control the materials. With his bent to buck automotive norms, create a unique product and boasting a history of anti-union behavior, you could say that Musk is the Ford of the 21st Century.
As of June, Tesla is now the world’s most valuable automaker after its valuation shot up by 375% to $183 billion in the last year, surpassing Toyota’s $176b. Thanks to the popularity of the Model 3, Tesla sold more cars in 2019 than it did in the previous two years. The EV firm might be the highest valued automaker at present, but to reach that all-important No 1 spot in terms of desirability and prestige, Tesla will have to focus on creating a bigger range of zero emission trucks, like the Cybertruck and Semi truck, to cater to major brands looking to expand their EV inventory and hit their ESG targets as emissions regulations become progressively more stringent.
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