Lucid Stock Plunges Over 10% After CEO Unveils Operational Reset Plan

Apichart Leesissaranukul, Chairman of Thai Stanley Electric Public Company Limited, or STANLY, said that the government's plan to consider restructuring import taxes on electric vehicles will be a positive factor for Thailand's automotive industry, as it helps create fair competition between imported cars and cars produced domestically, and supports domestic parts makers and suppliers. Initially, the import car tax structure is expected to be divided into three tiers: a rate above 20%, a middle rate of about 35%, which is the approach proposed by the Ministry of Finance, and a maximum rate of 50% for imported cars with no production base in Thailand. However, the details and clear tax rates still require clarity from the government and a resolution from the Cabinet. Apichart said the policy is likely to encourage Japanese carmakers to accelerate investment and launch more hybrid and EV models in Thailand, since Thailand still has strengths in infrastructure and the automotive supply chain. At present, leading carmakers still use Thailand as a production and export base for markets worldwide, such as Mitsubishi and Toyota. As for STANLY, the company is ready to support the automotive industry's transition, as it can produce parts and products for EVs, hybrids, and motorcycles, because its products share components, or commonality, and use electrical systems as a key element, allowing efficient management of the production process. Apichart added that STANLY is ready to take off immediately if the environment becomes favorable again, especially once financial institutions begin to ease lending and the economy recovers. The company aims to drive sales growth of a further 30%, while continuing to focus on keeping costs low and maintaining a strong financial position, with cash reserves of more than 10 billion to 15 billion baht, and will continue to pay dividends at a satisfactory level to shareholders.

Tesla is planning a more than 538,000-square-foot distribution center near Austin, Texas, according to a filing with the Texas Department of Licensing and Regulation. The project covers 538,720 square feet at the Mustang Ridge Distribution Center I, located at 6925 FM Road 1327 in Mustang Ridge, and carries an estimated construction cost of $1.44 million, with work scheduled to begin Dec. 7 and be completed Dec. 4, 2028. The filing describes the project as a new lease space build-out for Tesla in the existing Office/WHSE building and does not specify what products or materials Tesla will handle there or how many employees will work at the site. The facility adds distribution capacity near Tesla's Austin headquarters and Gigafactory Texas complex, which draw components from an extensive supplier network in Mexico spanning Nuevo León, Coahuila, Tamaulipas, Chihuahua, the Bajío region and the state of Mexico. In a separate development, Danfoss Climate Solutions launched a new production line at its manufacturing complex in Apodaca, Nuevo León, producing oil-free check and block valves for Danfoss Turbocor centrifugal compressors used in chillers and heat pumps, with 12 valve models made for North American original equipment manufacturers and about 80% of finished products ultimately exported, primarily to the U.S.

Tesla has set October 1 as the date for its second-generation Roadster demonstration, the latest in at least five Roadster demo or unveiling timelines floated this year. The car was first shown as a prototype in November 2017 with claims of a 1.9-second 0-60 mph time, a top speed of 250+ mph, and around 620 miles of range from a 200-kWh battery, with production originally scheduled for 2020 and deposits from $50,000 up to $250,000 for the Founders Series. Tesla put "Go for Launch" on X around September 12 with a teaser image marked "10.01," a countdown clock on its Roadster order page, and non-transferable invites to a gathering in Waco, Texas exclusive to reservation holders. The unveiling is expected to focus on the SpaceX package Musk has referenced since 2018, cold-gas thrusters built around hardware borrowed from SpaceX's Falcon 9 program and internally code-named A71, which Musk claims could deliver a 0-60 mph time of around 1.1 seconds; reports indicate the thruster-equipped variation may not be street legal and may be sold as a limited track-only run. Hedge fund holdings of Tesla fell from 123 in the first quarter to 116 in the second, a drop predating the announcement, and the demo follows the disappointing Cybercab launch on September 3.