Car Insurance

Top Insurance Coming To Europe Disruptive Investing New Insurance 

Everybody on zack and i’m jessie watching the destructive investing news show arm and this week on the i news i wanted to discuss tesla and vin fast so first a tesla and one of their divisions that i think a lot of people either don’t know about or if they do know about it they quickly forget about it and talking about tesla insurance as the launch tesla insurance in twenty nineteen in california it’s basically auto insurance and for while it didn’t seem to be growing much but then in the last twelve months tesla insurance has really begun expanding into other states yeah currently tesla insurance is available in twelve states in the u s seventeen percent of the eligible customers use it and


Insurance has seen twenty percent growth over the past year so this in and of itself is very important and i know what you might be say how can car insurance be interesting guy’s car insurance is one of the least interesting topics on the planet will hold on yes insurance may not be a fun topic but number one most of us who drive at least have car insurance so it’s a huge market and here in the us it’s a three hundred and thirty billion dollar industry tesla is not only getting into the auto insurance business but they are using their full self driving to create a safety score for tesla customers who use their auto insurance what this does is allow them to change the premium month to month to penn


On how their customers drive so let that sink in for a second right now most of us have auto insurance that uses a bunch of facts about us right our age are driving record where we live in that determines what our premium should be tesla insurance is using something different it saying hey jesse you were driving aggressively last month so we’re going to raise your premium this month because you have a higher chance of getting into an accident than zach over here who was driving more safely so this is disruption using technology to improve service so in this case if tesla insurance was available in my state which it’s not right now i could sign up for it and save money on my premium if i choose to drive safer right now there’s a whole


All discussion that we’re not going to have hear about like whether or not the safety score is good and you know that like night driving shouldn’t be such a negative i’m going to push all that aside it’s just that this is a new disruptive thing and tessa can change it however they want whenever they want you know within the bounds of regulation and i think that that is kind of what we’re talking about here when we’re talking about it being disrupted but the news this week is that it looks like tesla insurance may be jumping across the pond to europe to test his job posting for legal counsel tesla insurance europe arm was just published and it says that the position would be based in london and the successful applicant would help quote build and lead the inhouse legal function of the inch

Turns company to guide through the legal and regulatory landscape of and ensure operating cross border in europe for some context europe’s auto insurance market is estimated at about one hundred and fifty billion dollars in twenty twenty so again this is why we’re talking about auto insurance on disruptive investing tussles ability to use their computer on wheels cars to capture better drive data and set more accurate auto insurance premiums may not be sexy but it is disruptive and i predict it will enable tesla the quickly grow in a market that doesn’t have much innovation now you might be saying i’ve seen those auto insurance commercials with people using their phones while driving to capture their acceleration in speed and share it with their insurance companies for


Or better rates and yes insurance companies are trying that but i would argue that this shows that those insurance companies do want this data is just that phones are not the best way to gather it computers on wheels or tesla was our and so that’s kind of the key here right a tesla can tell you so much more about what the drivers doing then a phone can have phone or just trying to kind of guess at that arm and here tesla can tell you pretty much anything you want to know about the driver and i think to kind of defend tesla and their safety score think that right now it is rather rudimentary but i think that tesla should be able to use all of the information that it can gather to see how good a driver


This person is for instance i was half behind someone the other day and to their credit they had the you know student driver sticker on the car they weren’t like this wasn’t a sanctioned you know student driver course thing but they were driving i believe nineteen miles an hour and a thirty slamming on the brakes every five hundred feet or so gotta learn and get it so they’re learning i get that but i’ve also seen like you know fifty year old just normal looking people doing the same thing sometimes night and it’s leg


Right the insurance company isn’t necessarily going to know that unless your car could tell them that is is something as bother me for a long time were all basically subsidizing bad drivers in so you take a sixteen year old if you look at the data on sixteen year olds on average they’re going to get into one accident like it’s just gonna happen right because they haven’t learned very much that are much experience they also don’t the frontal lobe isn’t developed so all these things they’re going to speed talk to the friend and their premiums are higher but they’re not high enough fortunately higher and so if we could get to the point where people were actually paying what they should be paying then i think the world be a better place now you might be one of the bad drivers know i blew out what i want you to subsidize that i don’t


Want to subsidize if if if i have not been in an accident i don’t think ever and so why should i have to pay for all the people who have been a multiplex and the good news is as we go forward into the future i’m there’s probably going to be the opportunity for people to have cars that drive themselves and by that i mean they don’t own the cars necessarily but that they be able to basically hail a car for cheaper than they would be able to own a car or cheaper than they be able to hail a taxi or an uber now i wanna talk about when you invest in tesla as a stock look we’re not financial advisors don’t take any of our advice here on invest and were long on tesla yes i do your research or biased arm tesla is not just a car company as we talk about often in this is proof of that right they haven’t insurance division and so if you invest in tesla and you’re like yeah but i’ve gotta diversify well yes but tussles already diversifying itself because they’re getting into auto insurance which


It is gonna be a huge market for them so this would be like if you could invest in not only and a disruptive car company but also into a fairly disruptive insurance company and invest into a company that could be building humanoid robots in the near future and investing in a company that is working on for self driving technology for rubber taxis and is working on solar roof systems that don’t look like solar panels they look like and also looks like batteries you know company that works on batteries are that go and people’s houses and the company that makes batteries that connect to the grid and a company that makes the the software that connects the batteries to the grid it intelligently


I could go on there are a few more even appease the i’m not gonna i’m not going to buggy with that but that’s kind of the interesting part about tesla and in at least one of the things that dumb i think that we used to justify having probably too much tesla in our portfolio portfolios that welsh technically i think about it like that darkly will now shift our focus to vin fast that’s the vietnamese even maker founded in twenty seventeen you know that zack and i love eve ease and we want to accelerate the transition to sustainable transportation but this is disruptive investing and been fast as talking about an upcoming i p o so we want to know if this new edi maker is being disruptive or hitting roadblocks so i was pretty excited that the


Fast had already shipped nine hundred and ninety nine vf eights those are they’re fully electric s u v from vietnam to california back in december it seemed lightning fast break into the us auto market i mean many competitors like neo an ex pang of taken much longer but well we just learned that those nearly one thousand vf eight are still sitting in parking lot it’s in california they have not been delivered to customers yet because of software issues so when fast mr twenty twenty two deadline yeah so those deliveries they now say will take place later this month this is worrying to me because with cars that are computers on wheels software becomes very important and if it takes your software team weeks or months to get the off


For even to the point where you can deliver your cars then i think you’re exposing your weak link so we’ve talked about this on tesla time news oh and by the way you can watch every tuesday on are now you know channel tesla time news our weekly show that we’ve done for over three hundred episodes now that been fast as released the vf eight and had the range tested by the eap yea it’s well a lame yeah so one hundred and seventy nine miles of each p a rated range even though of in fast claimed it would have two hundred and ninety two miles when they introduced it never infested say that the new software update would increase the range to two hundred seven miles or three hundred and thirty three kilometers but that’s the same software that delayed the deliveries


So it’s not really good luck right i mean i think they were trying to get the range numbers up and in doing so it took them longer than expected and am i think there was also because a lot of buyers were probably saying know they probably reserve the carbon based on the original numbers and them when they went down to pick it up or like i’m not taking delivery that so there’s another batch of in fast if he is coming in to the u s in queue to but we just heard from reuters that vin fast is cutting it’s workforce in the us and canada their consolidating their entity here from two to one in the calling it vin fast north america they currently have been hundred and fifty employees in north america and the last two points about been fast on talk about i was originally thinking that their pricing was kind of cool


Or they’re doing this thing called bass or battery as a service where basically by the car and then you do a subscription to the battery and that’s cool rikers then if you’re worried that battery were out or that the be new technology someday you don’t own the battery just leasing it but now that the details of come out it’s pretty expensive so the car as a ninety kilowatt hour battery starting price for this city addition is forty two thousand dollars the eco addition is fifty five thousand and the plus addition is fifty seven thousand but you then have to either by your battery for twenty thousand dollars more or pay a hundred sixty nine dollars a month for this battery as subscription and i mean we talked about the cards pretty cool it’s got four hundred to horse power four hundred fifty so


Pound of torque so it’s you know it’s a gonna be a probably pepe car haven’t driven a yet but it won’t qualify for the seventy five hundred dollar federal tax credit because it’s main vietnam i think this prices just kind of too high and then the last question here is and i’m not trying to make fun of the country but it’s a new car company from vietnam and so


I don’t think anyone here in the us has experience with that it reminds me of the eighties when japanese cars came and around like japan can make a car and it took the many years to build up bomb you know kind of customer by in some i thought here is like that’s not gonna be an easy sell a vietnamese car company brand new at mickey views it’s any v they don’t have a charging network or other than the public charging network at the moment they don’t qualify for the federal tax credit they had this weird battery is a subscription thing their range is lower than they said it would be like animal that a lot of tougher rose to hold and then they just had a weird software thing where they couldn’t deliver the cars and it’s like at you know what i want them to push the cars


Out the door with bad software know i’m so i i mean i’m glad that they you know didn’t deliver the cars with with big problems it’s just like having having a two month wait on software is a little concern but here’s my question let’s say by the lowest addition the city addition for forty two thousand you do the one sixty nine am on for the battery you’re getting what they say is two hundred seven miles of you period range we haven’t seen that tested yet that is way lower than a tesla model why with two hundred fifty nine miles if you get their cheapest version i’m note in the model why would probably cost less because you’re probably gonna get the taxes exactly as my point and then you get to use the test supercharging network you get to you


Autopilot all is fun things so i’m just like how are they gonna compete since as we’ve said but many times before you are competing with tesla and that doesn’t seem to be that much disruptive about vin fast and i think that a lot of people find it really hard to just pick a winner like tesla and then say that won’t be any other winners and and i agree with that i don’t think that that’s necessarily the case is just we haven’t really seen that many other winning car ramming we’re were on the lookout for yeah i mean i’m totally on the lookout i think that hundred i would probably be the first you know ones that come to mind but they don’t have the on charger


Network and i’m not saying that they need to go build out a giant charge network i’m just saying i do their reliance on electrify america right now and as we’ve seen so many so many so many times it’s not a reliable charging network and you wouldn’t drive a gas car if you showed up to the gas stations all the time they weren’t you they didn’t have any gas and them yeah i mean i just think been fast as looking to this ip oh coming up soon and i’ll be very wary of that if i’m an


Investor because they’re just didn’t seem to be much to attract me to it yeah it’s it’s like the market conditions right now are pretty bad i mean maybe the price is gonna be a little bit lower because those marking additions to the ipo isn’t going to be is higher you’re going to get a better deal or something they with us less money for the company i i’m rest the comment on below what your thoughts are and been fast i’m really interested to get behind the wheel of one because mean a



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