7 main takeaways from the Tesla shareholders meeting

June 12, 2019 by Matt Pressman

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Originally published on EVANNEX.
By Matt Pressman

Who diverted your attention from this remarkable American success? There are alligators hiding in the FUD. Even Elon acknowledged, "This is the craziest disinformation campaign I have ever seen."

Nevertheless, the truth was revealed last night at Tesla's annual shareholders meeting. Musk presented the company's "state of the union" for 2019. What were the points to remember? Do not focus on frivolous fodder. Yes, Tesla will make vegan ruffles. No, Elon is not 007 (even if he has a submarine). Maybe it's is a mean Bond, though. Anyway, here's what you really have to know …

1. No, the request is not a problem

"I want to be clear: there is no problem of demand," Musk said. In fact, he said Tesla had "a decent blow to a record level at all levels". He said the model 3 outperforms all its high-end sedan competitors – similar models offered by Mercedes, BMW, Audi and Lexus – combined. And the market it pulls is actually far bigger that many thought initially. In fact, 63% of Model 3 trade comes from non-premium cars.

Tesla not only attracts buyers of German luxury brands, but reduces sales of traditional automotive market (Source: You're here)

2. The Tesla pickup will be a Cyberpunk truck

The revelation of the Tesla pickup is expected (later) this summer. Musk noted that the Tesla pickup truck would be "more functional" than a Ford F-150 with better performance than a Porsche 911. "I think it's the coolest car I've ever seen. Have never seen, "said Musk. The truck will look "cyberpunk", as if it came from a "sci-fi movie". He added, "We are trying to create something new and it's not just a copy of the form factor of everything else."

3. Investor's Day Battery and Powertrain Approach

Musk says he plans to hold a day of battery and powerplant investors later this year, potentially this summer. Musk noted that the 3, S and X models outperform all energy efficiency of non Tesla electric vehicles, measured in miles per kWh. Moreover, now in 2019, there is again No other manufacturer can compete with the 100% electric range of the 2012 Tesla S model. And yes, there is even a car the distance of 400 miles from the Silicon Valley automaker.

Tesla battery technology, 7 years old, remains superior to Big Auto's electric vehicles. (Source: You're here)

4. Tesla could enter the mining sector

As Tesla expands its gigafactories in Nevada, China and (soon) Europe, the company could start extracting some of the minerals it needs to expand. "We will do everything in our power to adapt to the fastest pace possible," said Musk. He acknowledged that the two most important things for investors to consider are the company's self-driving efforts and its ability to reduce battery costs.

5. Model Y could be a game changer

Musk says the company's smallest SUV, the Y model, could go into volume production "by the end of next year," and demand could be higher than models 3, S, and X. combined. He also mentioned that (despite the larger form factor of the car), the Y model could actually boast a drag coefficient lower than the model 3.

It turns out that the largest segment of Tesla's auto market is still ahead. (Source: You're here)

6. Tesla makes an "acquisition"

When calling the first quarter results of Tesla, Musk said the company was considering launching a homeowner insurance offer that "will be more compelling than anything else" because of the large amount Tesla collects from his fleet. This internal insurance product may be more attractive (and accurate) than third-party insurance providers. At the shareholder meeting, Musk said Tesla had made a "small acquisition that we had to realize" before launching his own insurance company.

7. Buying a gas car no longer makes sense

Musk noted that countries around the world are setting deadlines to ban gasoline and diesel cars. "If you buy a non-autonomous gas car, it's like riding a horse and using a flip phone," he said. When looking at resale values ​​and looking to the future, "It's fundamentally foolish to buy anything other than an electric car that can move to full autonomy," he added.

Keywords: Elon Musk, Electric Vehicle Sales, Tesla, Tesla Shareholders Annual Meeting, Tesla Model 3, Tesla Model S, Tesla Model X, Tesla Model Y, Tesla Sales, Tesla Shareholders