 Hi, this is MXUX. In this presentation, I'm going to try to contrast and compare the Tesla Tau, the 25K Tesla, the details we have from Investor Day, with the Foxconn Georgetown Motors MIH project, which has not been identified yet, but I am going to work with the assumption that this is going to be Project X, and let's just call this a thought exercise at this point, comparing the Tesla Tau to the MIH Project X. Now, the Tesla Tau is a 25K Tesla, assumed to be, I have a picture down of a concept two-door hatchback. The MIH Project X looks like a cube. It's a utilitarian, in my mind, appears to be a robotaxi. So, we're going to assume, since the Project X is the most recently announced project by MIH, which is supposed to go into prototype this year and into production next year, we're going to assume that these are the two competing projects. And I just want to go over this, again, as a thought exercise, but this very well could come to fruition, to show you that, you know, Tesla is not as advanced as people assume it to be when you, and LMX and Foxconn and MIH are right up there. As I say continually, the main competitor of Tesla is Foxconn and the Foxconn conglomerate, LMX and MIH. I think they're competitive projects. I'm going to go over some features. On the left side is Tesla. On the right side is MIH, Foxconn, LMX. So that's the MIH Project X. And on the left side is the Tesla Tau. Now, I've got some spelling errors here and some other things, but I'm just going to power through this. I don't care. Let's see here if we can get going. Tesla Tau, MIH Project X. So Tesla made a big deal of the Ethernet wire harness, drive-by-wire, and the Bluetooth and so forth. They said class A subcompact, which is below a compact car. Likely, they're going to have the digital privacy, which anonymizes, makes anonymous all of the data coming from the car. So again, Tesla made a big deal of the Ethernet harness, the Bluetooth, subcontact. Okay, MIH, Ethernet harness, EEA, no problem. It's going to be a subcompact MIH. It's going to be a three-seater, a five-seater, and a nine-seater, and it's going to have the same digital privacy. So as you can see, this is a total match-up as far as the technology. Everybody thinks Tesla invented this tech. They did not invent this technology. These concepts are out in the wild and Tesla is applying them. Anyway, I think the main difference here, and again, the MIH Project X is going to be a modular vehicle. It's going to be a three or a five or a nine-seat vehicle. So the point being, they're going to have one model of Tesla Tile. They're going to have three models of Project X on the same platform. Now, as far as this being a three-seater, the Project X, there has to be an airbag for the center seat. If not, it will be turned into a console for the US market and the world market will have the center seat. Let's just move on to the next box here. We'll employ cast body structure. Again, I had mentioned this before. Foxconn actually makes a gigapress, at least one, which is in use for VW right now, making battery trays that hold battery assemblies. The MIH platform also uses castings, front and rear, like Tesla, presently. So likely, Project X will also have castings. So again, the cast body structure, and I think a lot of other OEMs are implementing this as well, is nothing new to Foxconn. And it doesn't go to EDRA, at least for one style of a gigapress because they manufacture Foxconn-Honheim manufacturers a gigapress. So we have by-wire controls. Now, the Tesla Tile is going to have brake, steering, gas by-wire. The project X also is going to have brake, steering, gas by-wire. Again, this is not new technology. You think Tesla invented it? They didn't. Tesla has invented a new AC pin-wire motor. It's going to employ in this model. It's unknown what the drive system is going to be in the Project X. I am suspecting hub motors, which is also a new technology, which would have, you know, two or three-factor fewer parts than the AC motor deployed by Tesla. The Tesla Tile is intended for the world market. The Project X also intended for the world market. OTA, you know, over-the-air updates, infotainment, fleet stats, Project X, OTA infotainment, fleet stats, same thing. Okay? Now, the Tesla Tile is going to have self-driving. That's on the left of Tesla Tile. On the right, MIH working group on self-driving. You know, in China, they have a number of self-driving services, car services. They're geofenced and mapped. MIH has an entire group that has been working, and during technology day, they went to private sessions on how they are handling self-driving. So, is it likely that the Project X will at least have the hardware for self-driving? Likely will it have a comparable system to Tesla? We have to wait and see, but there's a very good chance that this could happen. Let me just say this about self-driving. Tesla's gone to a pure vision self-driving system for a reason. It's because the other sensor suites, you know, the LiDAR and radar and infrared, the sensors are too expensive to implement, and they drain too much battery power. This is why Tesla's gone to a pure vision-based system. MIH likely would go to a pure vision system as well, unless they develop a new sensor suite. But I do believe that MIH is absolutely going to have a near comparable self-driving. 25k price target on the Tesla town. Again, you know, the 40k Cybertruck doesn't exist anymore. So, we're going to see on the 25k price target, but the MIH Project X, similar. Same price target area. I'm going to go over price targets in another section of this presentation. Tesla has great depth in software, you know, their infotainment, their operating system. MIH, extreme depth in software as well. The MIH operating group of companies that Jack Chang has put together, they've all been working together now for a couple of years. And you know that a electric vehicle is a lot like a cell phone, at least the operating interface. And certainly Foxconn has a lot of experience developing cell phones. Tesla has 128,000 employees. So, that's the total number of employees at Tesla. And I'm trying to get an idea of the size here. MIH, which is this consortium of tier one, tier two, tier three suppliers, has 2,500 member companies. To have the same number of employees, each MIH member would need 51 employees, which is highly likely. What I'm saying here is brain power to brain power or employee to employee, MIH is a comparable organization. So, I do not believe Tesla has an advantage when you look at this raw size component. Let's go more deeply into this. The size of Tesla's engineering, I don't have a comment in that apostrophe in that. Tesla's engineering staff is not public. Okay. If each MIH member had one engineer, it would be 2,500 engineers. Two likely would be 5,003. It would be 7,500. If they had four engineers each, that would be 10,000 engineers working on this project. I think that's pretty likely out of 51 employees to have 10% be engineers, even more than that. If they had five, let's say 10% of the engineers, I'm sorry I have a slider in that number four, but if they had five engineers at each company, that would be 7,500. I think I have those numbers transposed. Anyway, if they had 10 engineers at each company in MIH, that would be 25,000 engineers, as compared to 128, so about one fifth of Tesla. If they had 20 engineers at each MIH member, that would be 50,000. Now, I've settled on a figure here of half of the employees at each of these MIH companies are administrative and so forth and computer tech. I'm saying that the engineers in MIH companies, the 2,500 companies, 25 engineers for MIH. Remember, that's 62,500 engineers working on this program in the background. This MIH number is 49% of Tesla employees, so we're saying half of Tesla employees are engineers and half of MIH employees are engineers. This is a really long road to go down. What I'm saying here is I do believe there's a comparable number of engineers addressing the problems at the MIH consortium as there are at Tesla. Okay, that is the point we're making here. Tesla has a market cap of $620 billion. This is something you can look at. It boggled my mind. $620 billion, a 2.6x times the size of Foxconn. Foxconn's market cap is $238 billion in US dollars. Tesla's market cap is three times the size of Foxconn. Foxconn is a giant company in its own right, let alone with this MIH consortium association, but you can see the difference in market cap here. They're buying the potential, discounted future cash flows of Tesla, and that's garnered a three times valuation over Foxconn. So that's a big difference there. I think this is the impotence for Foxconn, of course, getting into battery electric vehicles. And I'll go through the battery electric vehicle market, my analysis of it in a section that follows. Now, just moving on, Tesla makes chips. They're making a big deal about how they design their own chips. A lot of their chips on their boards are generic chips, but they also make and design their own chips. I don't think they fab them. They probably send them out to TSMC. Foxconn also makes chips and screens and electronics and basically everything that could go into an electric car could be made by Foxconn. Now, the MIH consortium is set up to supply the components that Foxconn does not make. So by association, Foxconn is going to make everything that goes into these cars. But again, Tesla makes chips. Foxconn has been making IC chips forever. So that is another equivalency. Of course, Tesla has more operational experience integrating these things and so forth, but still the same capability. Now, and just getting into the component level here, nearly every component of the iPhone is made by Foxconn. People don't realize this. It's like 90% of the components. Some are supplied by third parties, but so this is how Foxconn does things. Tesla is a walled garden iOS. It's kind of like the iOS, the Apple operating system. MIH is open source. It is open. It's like Android. And in one of my previous videos, I showed a chart of how the Apple walled garden has stagnated and the number of apps and other things that have been developed for the Android system being an open with open APIs and open source is so much greater. This is one of the powers that Foxconn is trying to capture with the MIH, having all these varied inputs and filtering them all down into a set of apps and components and stuff. The idea being, what's that old saw? You have a giant jar full of beans at the county fair and everybody guesses how many beans are in the jar. And after you get enough, you get all these people guessing, they usually get it right. And this is what MIH is counting on, having these varied sources, being able to pick and choose between these very sources and the chance of them being right. Tesla is doing the same thing, although they have a different system, but they do have a walled garden and they do have groupthink there. So we can compare those two. I like the MIH model, although Tesla has produced great results. I think one of the reasons Tesla is such a walled garden and Lordstown Motors faced this when they had to buy frames for their trucks. When they were first building them, no one would sell them to them because of the ice company's pressure on them. So they had to bring their frame business in-house. This was a great expense to Lordstown Motors. Tesla, I'm sure, faced the same backlash when it first started and also a lot of these components weren't available on the market. So they had to institute a walled garden because they had to make this stuff themselves and so forth and other companies wouldn't sell to them. Now we have components available and so forth. So the open source model is more doable. Now, again, I mentioned here the new Tesla DC motor. Again, unknown motor at this time for this MIH program. We think it's a hub motor. Now the 4680 structural battery pack the latest will not be used in this BEV. So they mentioned that it's a 3, 3680 so far. They're not in other words a 4680 at least at this point is not going to be used in this new Tesla. Foxconn now implemented battery to frame. So in this Project X, they've eliminated the battery pack. The battery pack is part of the frame. I think this is exciting. So there's no pack. So they've gone from a structural pack to no pack. Also this Project X is also going to be able to swap batteries. So battery swap is going to be an option with this vehicle and that would address the lack of charging. I have a clip here which I think I'm going to record separately and edit in here where they mentioned on AutoLine talking about the Foxconn battery to frame. The new concept and Foxconn is likely to use a cast frame. And so there's going to be no battery pack. This is new and this is a change in the way they build BEVs just as Tesla is implementing a change in the way they build EVs. I'm going to play this clip later and edit it in but I think this is very interesting. No 4680 structural battery pack. Now we're going to have in the Project X battery to frame. No pack or swappable battery which I think could be a plus for a robotaxi, a total robotaxi fleet in some remote areas of a city or whatever where charging wasn't available to have the swapping ability, have the thing auto drive in and swap with I think would be great. US operations of Tesla, the IRA Act and you know US operations at Foxconn, LMX, the IRA Act so they're both going to get the same tax credits and so forth. Tesla has six models of BEVs including the Tau. Foxconn has six models plus Project X plus the Fisker pair at 25k plus the Lordstown endurance. So actually Foxconn has a larger portfolio of products. I just want to mention that the latest word is that they are tooling up at the Lordstown plan for Fisker pair production. They have started the tooling there Foxconn has. So that is going to be a 25k competitor to Tesla as well again to be built by Foxconn. Now the Fisker pair is a consumer vehicle not a fleet vehicle though and the LMX endurance at this point is designated as a fleet vehicle. Tesla has 12 years ahead of ice competitors, 10 years ahead of BEV competitors. So Tesla is generations ahead of other people. Now Foxconn has no legacy ice or BEV business. So they are starting with a clean sheet. They had made every iPhone made. They are the largest electronics manufacturer on the planet. They are committed to pivot the corporation to the BEV market and as I said MIH was founded in 2020. So they've been at this for several years now. This has been working behind the scenes. So I guess the point I'm making here is you know Foxconn is where Tesla was and Foxconn has a clean sheet to work with and they're they're moving ahead with their own approach to business and their own approach to industrialization and they're modeling and on the cell phone segment and you know in many ways a battery electric vehicle is connected to a cell network. It is got an operating system like a cell phone and it is like a cell phone on wheels. So I am confident that you know they are going to apply some tried and true business model components to this battery electric manufacturing. I think Foxconn is a very interesting company and you know you certainly have to take it seriously. I mean as I said in previous videos you hear very little from Foxconn. If you don't follow the Asian press you may not hear anything but this is all going to come on the scene at one time and it's just going to explode all of these activities and this includes Lordstown Motors. Although you know Lordstown Motors is a high-risk investment but this association I think and as the CEO said they are pivoting to this new program with Foxconn, pivoting the focus. I think it's all very exciting. Now this is the Tesla top picture we have, 25k passenger cart, proposed fleet vehicle covered by a tarp. This is the MIH project at X platform. I do believe that stack chain there. I do believe the bottom half of that is one casting where the wheels are. I do believe it's going to have hub motors. I think that's a very simplified way to make a car. Again battery tray is going to be cast into that lower casting and it looks like the body panels are going to be glued on the outside of that possibly and then the greenhouse superstructure there is going to be made of another material who knows what perhaps pressed carbon fiber, stamped carbon fiber is one thing that may come to mind and so forth but as you can see a totally different concept from Tesla and that's the MIH. Now let me just get it. Right now Tesla has indicated that this will be a fleet vehicle, a robo taxi. They didn't say it was going to be, they're going to Osborn effect themselves if they put a 25k model out and I have a piece coming out. I think it's going to be in this video on my analysis of the BEV market but in a fleet vehicle at this price point makes perfect sense. Lord Samoes also says that this project, MIH project that they are developing will be a fleet vehicle as well addressing a different segment than the light duty endurance pickup truck. So by deduction robo taxi, delivery taxi, delivery bought, small delivery van so forth and now they said they're not going to use the 4680 battery will the 4680 battery be perfected by the time production starts on this car and they're saying 20, I think 2025. The project X, the prototype is 23, production is 25 or 24. Will and Foxconn is working on a solid state battery. These battery configurations are confusing. The idea of a solid state battery is that it can charge faster, it is more energy dense. There are many multiple advantages to a solid state battery. Foxconn has been working on a battery, a solid state battery in the background. They say they're very close to launching it. I would add that in my understanding of the two technologies, the 4680 battery is pretty close to a solid state battery although it doesn't have the charging and the energy density advantages as a pure solid state battery. A solid state battery is more like view it as being made out of ceramic. It doesn't have a wet state, although some of them have gel in them and so forth and I just watched the presentation on a peak energy channel that I watch on YouTube and a professor from Oxford was on and she said that they solid state batteries are here now and they're not in production yet. So we're going to see the big battery wars. Of course, if Foxconn can stick a solid state battery in this vehicle, that would be really something but I think if you read the tea leaves and look at what's going on in the background, that's their plan and we never know and I just want to show you there's a close-up of the that MIH bottom section which again I believe is a casting. I mean the top could be a casting as well, could be stamped carbon fiber, we don't know and again this Project X right now is envisioned as a world car made for the Asian market. I think for it to meet US crash standards and so forth it's going to have to be engineered a little differently if this is in fact and I am assuming this is the project Lord Simon Motors is working on or some derivation of this project. I think you know one thing they can do is produce one model for the rest of the world and one model for the North American market or they could produce what's called a world car which would work everywhere and that's the idea of homologation but that's what I think we're going for here is this speculation on my part and that is the Project X and that is a skeletal view of it and again with the hub motors there's no drive I mean basically you're going to be a battery battery which is part of the frame so there isn't going to be a structural battery pack there's going to be no battery pack the battery is going to be part of the frame solid state battery with hub motors that is going to reduce the electronics to nothing in this car as far as the drivetrain goes and this is an artist conception this is a vehicle where all the fenders are the same shape the front and the back are the same shape and we have this little screen on there which having seen many ubers hailed I think having that little screen on the back when you're calling it let's say you're calling a robo taxi and you're waiting to see which robo taxi is yours and you have that little screen on there and it says hi mary or whatever whoever's called the taxi I think that's genius pure genius that solves looking for license plate numbers that solves the confusion of getting in a robo taxi I don't know if tesla's going to implement that but they have screens front and back on this car or at least they propose to great idea I think that's a really cute car I think it's a perfect robo taxi and then we go down this is the artist conception so far and based on that tarp covered item of the tesla tau this is a two two door hatchback aerodynamic hatchback certainly a much different looking vehicle and I don't know between the two I see a lot of people getting in these robo time I think this is a lot easier to get in and out of okay and this is a lot looks a lot more like a tesla looks a lot more like a consumer tesla but we'll have to wait and see all right so that's my presentation on this this is mxu x and let me move on I have other sections planned for this let's move on to the next section