Shulou(Shulou.com)11/24 Report--

Tesla's 2023 annual shareholders' meeting was held at the company's plant in Austin, Texas, on Tuesday, local time.

Elon Musk, the company's chief executive, answered a number of shareholders' questions on the spot, including Cybertruck mass production delivery, FSD development progress, new model development, humanoid robot Optimus and Twitter. Musk expects the next 12 months to be challenging, and Tesla cannot avoid the impact of the global economic environment.

The following is a summary of Tesla's 2023 AGM: Martin Weicha (Martin Viecha), Tesla's vice president of investor relations, kicked off the annual meeting amid cheers from the audience. He first introduced that the shareholder meeting would consist of two parts: a vote on several proposals and a dialogue with Elon Musk, chief executive of Tesla.

Vicha then invited Tesla chairman Robin Dan Holm (Robyn Denholm) to speak, who highlighted the progress made at the Texas plant over the past year. She said Tesla was preparing to mass-produce its first electric pickup truck, Cybertruck, and highlighted Tesla's achievements in production capacity. The Tesla chairman also praised the company's leadership for helping Tesla be in a good position to advance his ambitious mission.

Dan Holm highlighted Tesla's environmental milestones over the past year. She reiterated some of the key points in Tesla's 2022 impact report, such as the sustainability of the super charger network and the company's efforts in battery-related areas.

Electric cars will be cheaper in the future, and then Tesla CEO Musk stepped onto the stage amid cheers from the audience. He said he loved Tesla's shareholders very much and praised Tesla's team for their remarkable achievements over the past year.

Musk mentioned the third part of the master plan, saying that Tesla firmly believes that the path of sustainable development exists and can be accelerated. He mentioned some of the most prominent points in the third part of the master plan, such as Tesla's calculation that a shift to sustainable development would actually save the world money.

Mr Musk pointed out that Tesla would conduct a third-party audit of his battery supply chain and even install cameras in the mine. He also stressed that the nickel battery used by Tesla contains almost no cobalt, while the iron battery uses no cobalt at all. But Musk points out that even the small amount of cobalt used by Tesla, the company will conduct a rigorous audit.

Musk invited critics to comment on the third part of the master plan. He said that most of the feedback on this section was positive, suggesting that Tesla's hypothesis may be quite accurate.

Musk promised that electric cars would one day be cheaper than gasoline-powered cars. "We will try to make electric cars cheaper than fuel cars," he said. " He also pointed out that Tesla's factory is one of the safest in the industry, and Tesla is also one of the most popular workplaces. "the two most popular companies on earth for engineers are SpaceX and Tesla. Where will the smartest and most motivated people work? this company will win," he said.

Musk revealed many of Tesla's new innovations, such as the company's new powertrain, which is more affordable, as well as a shift to 48V architecture, which will save a lot of copper.

Musk also pointed out that "fully autonomous driving" (FSD Beta) is growing at a "super-exponential" rate. He reiterated his previous views on FSD Beta and pointed out that the system will bring a significant increase in value for Tesla team. "it's not that the FSD is safer than human driving, it's much better," Musk said.

Model Y will become the world's best-selling car this year, according to Musk. Tesla is the world's largest carmaker and the most profitable carmaker in the world. "our electric car business is already profitable and no other company has achieved that goal," the chief executive said.

But Musk warned: "Tesla is not immune from the global economic environment." He pointed out that the next 12 months will be challenging and some companies may go bankrupt. But after this period of time, Tesla will be in a very favorable position.

Musk paid special tribute to Tesla's software team. He also pointed out that Tesla is confident that the Model Y will become the best-selling electric car in the world this year. Today, this model has become the best-selling electric car in Europe and has performed very well in China. "everything is going well."

Musk highlighted Tesla's commitment to safety and pointed out that the company is focused on making cars completely avoid accidents. Even if there is an accident, Tesla will pay special attention to protecting the people in the car.

Musk also said that Tesla's car overheat protection (an underestimated function) played an important role. "in Tesla's history, no child or pet has ever died in Tesla's car," he said. "

Mr Musk points out that Tesla sees a lot of demand for his Megapack. "Tesla's Megapack is now more competitive than natural gas power plants," he said. " As he has predicted in the past, Tesla's fixed battery storage business is indeed growing faster than the company's electric car business. "the demand here is almost unlimited," Musk added.

Musk reiterated Tesla's goal of producing 20 million cars a year when mass production versions of the CyberTruck began this year. He also pointed out that the production of CyberTruck is very difficult and it will still be based on the exoskeleton.

Mr Musk said the mass-production version of CyberTruck, which will begin delivery this year, could be better than expected. He added: "the CyberTruck is a car I drive every day and I think this product is better than expected."

Musk also joked that Tesla is currently producing two new products that will far surpass their competitors. "my guess is that these two products alone will produce more than 5 million vehicles a year," Musk said. "

A new video of Tesla's robot (Optimus) has also been shared, showing a humanoid robot performing more complex tasks. Musk reiterated that Optimus will use the same FSD system as the company's electric vehicles.

Musk predicts that the number of Optimus will far exceed that of Tesla cars. With this in mind, it wouldn't be surprising if Tesla's future business is based on his humanoid robot. "most of Tesla's long-term value will be Optimus. I am very confident in this prediction," Musk said.

At the shareholders' meeting on May 16, Tesla showed the latest development of humanoid robots ~ (source: you're crazy)

A shareholder of Tesla, dressed in Optimus, asked: does Tesla plan to build an RV? up to 500000 CyberTruck a year. Musk replied that Tesla has no plans to launch a special RV at present, but electric pickups will be equipped with some equipment, which are very suitable for camping. Tesla even added "additional points" to CyberTruck so that third-party companies can add other things to pickups.

One shareholder asked about CyberTruck's target production and whether Mr Musk planned to resign as chief executive. Musk refuted rumors that he had resigned as chief executive. As for CyberTruck production, Musk said that production will follow the S-curve. "We will see what the demand is," he explained. " He hinted that Tesla could produce 250000 to 500000 CyberTruck vehicles a year. He also pointed out that Tesla should not only increase production, the company should also be able to optimize its production efficiency.

One shareholder asked about the next-generation sports car Roadster. Musk pointed out that we expect to complete the engineering and design of the next generation sports car this year, and hope to start production next year. Musk added that Roadster is not only the icing on the cake, but also the icing on the cake.

One shareholder asked Tesla about the "guest mode" of the car and the Plaid version of Model X. Musk pointed out that Tesla will launch a Plaid version for his flagship SUV.

Gary Black, a future fund analyst who is bullish on Tesla, asked Tesla about Tesla's future pricing strategy for Model Y. Musk pointed out that Tesla focused on demand and adjusted pricing to meet demand. Car companies have been making adjustments, so Tesla is no exception.

The software team focused on fully autonomous driving. One shareholder asked Tesla if he was developing new features for third parties to develop games for cars. Musk points out that this makes sense in the future, but for now, Tesla's software team is focused on fully autopilot. "once we have fully autonomous driving, there will be a lot of opportunities for apps and things like that," he said. "

One shareholder asked Tesla about the potential of software services and the company's peak profit margins. Mr Musk points out that this is a highly speculative area, but if the customer owns a car with the same price but a profit margin of 20 per cent and 25 per cent, and the FSD appears, then a profit margin of about 80 per cent will be possible. Of course, this is highly speculative.

One shareholder asked Tesla about his career opportunities and diversified and inclusive efforts. Musk points out that in all Tesla's super factories, the company is working with schools to train talent for its facilities, although Tesla is already very good at automation.

One shareholder asked Tesla if there was a timetable for launching FSD to the public. Musk reiterated that everything about FSD is all about ensuring safety.

One shareholder asked about cyber security and what measures Tesla is taking to protect himself and his products. The shareholder also asked Tesla if he could make some navigation improvements. Musk pointed out that Tesla is making a lot of efforts to ensure that his car is protected from cyber attacks. "We attach great importance to information security," Musk said.

Will Optimus be deployed on Mars? One shareholder asked whether Optimus would be deployed on Mars. Musk pointed out that the Optimus is not so far-reaching thinking, but Tesla is emphasizing the safety of the humanoid robot.

A long-term retail investor asked Tesla about his plans to ensure lithium supplies. Musk pointed out that he believes that the constraint of lithium is refining, which is why Tesla built a refinery in South Texas. "the limiting factor is not how fast you can mine, but how much you can refine," he said. "

A shareholder asked Tesla about the launch of insurance business in more states such as Florida. Zachary Kirkhorn, Tesla's chief financial officer, confirmed off-camera that Tesla will launch an insurance business in Florida this year. Musk said that the insurance business approval process is very complicated.

Tesla will try to advertise a Tesla shareholder asked the company how to encourage customers to accept energy products. Musk pointed out that Tesla has made progress on many projects.

One shareholder asked Musk how he was doing. The CEO pointed out that the constant negative media coverage of him is not very interesting, but he is optimistic. "sometimes the pain of work is very excruciating," Musk said. " He also mentioned that he believes the new CEO of Twitter may make the platform run smoothly.

One shareholder asked Tesla if he was willing to extend the financing terms for his car. Mr Musk said it was the banks that decided the terms of their car financing. "what they are willing to do is really the choice of the banks".

One shareholder believes that Tesla needs advertising to at least let people know what Tesla is amazing and people don't know. In fact, Musk agrees. "We will try to do some advertising and see how it works," he said. " The audience cheered. Mr Musk joked that he had taken the subtle hints of shareholders.

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