🍗 Tesla is Building a 'Megapack' Factory in Shanghai. Why?
Welcome to Morning Tendies. We’re like Jon Rahm’s putter: Faithful, Consistent, and We Show Out When It’s Time.
It’s Monday. We’re ready to go. Let’s roll:
Gigafactory on Gigafactory for Tesla 🚘
Upcoming Economic Events and Earnings Reports 💰
Tendie Time 🍗
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Okay. Now let’s roll:
Gigafactory on Gigafactory for Tesla 🚘
Yesterday, Tesla announced construction for a new ‘Megapack’ factory will begin later this year. The factory will be located in Shanghai and is said to be done sometime before the second half of 2024. I know what you’re asking yourself:
What in the world is a Megapack?
In my opinion, it looks like high school lockers, but apparently, Megapacks are: Large-scale energy storage.
A single Megapack has 3 megawatt hours of storage and 1.5 MW of inverter capacity. Using Megapack’s, Tesla can deploy an emissions 250 MW, 1 GWh power plant in less than three months on a three-acre footprint - four times faster than a traditional fossil duel power plant of that size.
Blah Blah Bah- Nobody knows what that means. I’m writing it and I’m not even sure.
Think of it like this: The Megapack saves money.
Neoen, the owner of the massive Tesla battery system in South Australia, released a report for the first full year of operation and revealed that the Megapack saved about $40 million over the last 12 months.
Each Megapack is able to power an average of 3,600 homes for one hour, or 150 homes for 24 hours.
The factory will be capable of producing 10,000 Megapacks annually.
One thing i’ve learned: Tesla’s always got something going on. Whether it’s price cuts, EV delivery numbers, or a new Megapack factory in Shanghai… They’re never boring.
What’s Happening This Week? 🔮
🏛 Upcoming Economic Data this Week:
Bare with me. There’s a lot.
Wednesday, April 12th:
8:30 AM - March CPI Inflation Data
CPI, Consumer Price Index, measures the average change over time in consumer prices based on a representative basket of consumer goods and services.
The CPI is one of the most widely used gauges to measure inflation.
Previous was 6.0%
Expectation is 5.2%
2:00 PM - Fed Minutes
The Fed Minutes are released three weeks after each FOMC meeting, and it provides a summary of the discussion during the FOMC meeting and the decisions taken at the meeting.
Thursday, April 13th :
8:30 AM - March PPI Inflation Data
PPI, Producer Price Index, measures the average change over time in the selling prices received by domestic producers for their output.
The PPI is a measure of wholesale inflation.
Previous was 4.6%
Expectation (as of 4/09/2023) is 3.1%
8:30 AM - Jobless Claims
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week.
Previous was 228k
Expectation is 205k
Friday, April 14th:
8:30 AM - Retail Sales Data
Retail Sales measures the change in the total value of sales at the retail level.
Retail Sales is the foremost indicator of consumer spending.
Previous was -0.4%
Expectation is -0.4%
10:00 AM - Consumer Sentiment
The University of Michigan Consumer Sentiment Index is a measure of the overall health of the economy as determined by consumers opinions. The survey is compiled from 500 consumers.
Previous was 62
Expectation is 63.2
As you can see this week is absolutely PACKED with economic data. It’s an extremely important because it will determine what the Fed does next. Pay close attention to the numbers we get from these measures this week.
💰 Upcoming Earnings Reports this Week:
BlackRock, Citigroup, JPMorgan Chase, Wells Fargo, are just a few of the heavy hitters reporting earnings this week…
Click here to see the full list of companies reporting earnings in the stock market this week.
Our Team will be covering the earnings and economic events every morning in our daily email, so if you haven’t already…
Subscribe to Morning Tendies ↓
Tendie Time 🍗
The Best Roundup of Random Stuff from Around the Web:
🍄 Box Office Breakers: “The Super Mario Bros. Movie” racked up $146 million in its opening weekend. It took in $377 million over its first five days, giving it the record of: The biggest opening weekend ever for an animated title.
⛳️ Let’s Get Active: Jon Rahm wins the green jacket. Rahm collects his first career Masters win, adding the second of four majors to his career victories. Rahm finished 12-under
Quote of the Day:
“In my whole life, I have known no wise people (over a broad subject matter are) who didn’t read all the time - none, zero. You’d be amazed at how much Warren reads”
Meme Refresher 😹
That pretty much wraps it up for today!!
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research