Nations slow to adopt electric vehicles are likely to end up with a glut of used gasoline cars

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Electric car maker Tesla’s profits took a dive in the third quarter, according to an earnings call on Wednesday in which the company’s chief Elon Musk blamed staff working from home for being “detached from reality”. Tesla’s profits in Q3 of 2023 have plunged by over 40 per cent compared to the gains it made in the same period last year after the company slashed its car prices by around 25 per cent in an attempt to compete with other EV makers. The EV manufacturer reported a net profit of about $1.9bn for the time between July through September, which is a 44 percent drop from the $3.3bn it made in the same three-month period last year. While the company has seen a small increase in overall revenue of about $23bn from the $21bn the same time last year, the figures are still lower than Wall Street expectations. Mr Musk also dampened hopes of the company’s anticipated Cybertruck reviving profits in the near future, announcing that it would take at least 18 months for the truck to become profitable as it could go on sale only by the end of November. “There will be enormous challenges in reaching volume production with Cybertruck and making the Cybertruck cash flow positive,” the Tesla titan told investors and analysts in the earnings call. “The blood, sweat and tears that will be required to achieve that is just staggering,” he added. Over the last year, Tesla has slashed the prices of its cars by quarter to boost sales. Growing competition with the introduction of EVs by other car makers in the US, including BMW, Toyota, Mercedes, GM and Hyundai, has also coincided with Tesla’s share of vehicles in the EV market reducing in the last quarter. In the earnings call, Mr Musk also said staff working from home are taking advantage of those who cannot work from home. “Like... what about all the people that have to come to the factory and build the cars?” he asked. “Why did I sleep in the factory so many times? Because it mattered,” the Tesla chief said. Mr Musk echoed the statements he made in an interview with CNN earlier this year in which he called remote work “morally wrong”, arguing that it is unfair to those who cannot have the option. “Get off the goddamn moral high horse with the work-from-home bullshit,” he said. Tesla also pointed fingers at its reduction in production while it upgraded its factories as one of the factors behind the profit slump. It said it has also been making big investments in AI and “commissioned one of the world’s largest supercomputers.” “We have more than doubled the size of our AI training compute, accommodating for both our growing data set & Optimus, which is currently being trained for simple tasks through AI rather than hardcoded software, while its hardware continues to improve,” Tesla said. But all is not gloomy as the company says the first deliveries of its Cybertruck are scheduled for 30 November and Tesla’s Model Y remains the “best-selling vehicle of any kind” in Europe. Read More X begins charging new users to post as part of trial EU asks Elon Musk to ‘walk the talk’ on X/Twitter disinformation over Hamas attack AOC wants to ‘trade in’ her Tesla for union-made electric vehicle amid historic auto workers strike Amazon to start dropping packages into people’s gardens using drones in the UK Facebook has stopped working Facial recognition firm Clearview AI overturns UK data privacy fine

IQ tests offer a formula that allows you to compare yourself to other people and see how average (or above average) your intelligence is. The Cognitive Reflection Test (CRT) is dubbed the world’s shortest IQ test because it consists of just three questions. It assesses your ability to identify that a simple problem can actually be harder than it first appears. The quicker you do this, the more intelligent you appear to be. Here are the three questions: 1. A bat and a ball cost £1.10 in total. The bat costs £1.00 more than the ball. How much does the ball cost? 2. If it takes five machines five minutes to make five widgets, how long would it take 100 machines to make 100 widgets? 3. In a lake, there is a patch of lily pads. Every day, the patch doubles in size. If it takes 48 days for the patch to cover the entire lake, how long would it take for the patch to cover half of the lake? Sign up to our free Indy100 weekly newsletter Here is what a lot of people guess: 1. 10 pence 2. 100 minutes 3. 24 days These answers would be wrong. When you're ready, scroll down for the correct answers, and how you get to them: 1. The ball would actually cost 5 pence or 0.05 pounds If the ball costs X, and the bat costs £1 more, then it will be: X+£1 Therefore Bat+ball=X + (X+1) =1.1 Thus 2X+1=1.1, and 2X=0.1 X= 0.05 2. It would take 5 minutes to make 100 widgets. Five machines can make five widgets in five minutes; therefore one machine will make one widget in five minutes too. Therefore if we have 100 machines all making widgets, they can make 100 widgets in five minutes. 3. It would take 47 days for the patch to cover half of the lake If the patch doubles in size each day going forward, it would halve in size going backwards. So on day 47, the lake is half full. In a survey of almost 3,500 people, 33 per cent got all three wrong, and 83 per cent missed at least one. While this IQ test has its shortcomings – its brevity, and lack of variation in verbal and non-verbal reasoning - only 48 per cent of MIT students sampled were able to answer all three correctly. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

Snapchat is releasing new app safeguards to protect teen users (aged 13-17) from unknown users