Model Y, China, Tesla Taxi Network, and More Updates from the Shareholder Meeting

Model Y

The demand for Model Y is anticipated to be greater than the S, 3, and X combined. An incredibly low drag co-efficient, potentially lower than Model 3, is also expected which should contribute to class-leading efficiency. The car will feel bigger than it looks on the outside, which Musk attributes to quality vehicle design, and volume production is expected by the end of next year.

China

China is the largest electric car market in the world, making it critical to Tesla’s future success. Local EV incentives are only available when a car is manufactured in China; however, the incentives will no longer be offered by the time the Gigafactory in Shanghai begins production of Model 3. Regardless, Tesla will still save on the cost of import duties and combined with a lower cost to manufacture Model 3 it will make the vehicle more accessible to the Chinese market. Ideally, Tesla would like to have a factory to manufacture its vehicles on every continent.

Tesla Taxi Network

The forthcoming Tesla taxi network, which will allow owners to use their Tesla’s as a robotaxi in the future to collect passive income potentially exceeding $30,000 annually, will begin testing as a ride-share network (like Uber or Lyft). To test the network, Tesla is considering allowing owners to drive their own cars to pick up passengers and collect income. Considering Tesla is only taking a 30% cut, this could be more lucrative with a higher quality of clientele than competitors.

“Combustion”

Musk addressed the media bias over Tesla’s catching fire by sharing statistics regarding internal combustion engine gasoline cars (which quite literally have “combustion in their title): there are 200k gasoline car fires per year in the U.S., which is a far cry from Tesla’s which rarely catch fire and are comparatively less dangerous in the exceedingly uncommon case they do.

Supercharger 3.0

Supercharger 3.0 is being rolled out globally, and allows newer vehicles to be charged at a rate of 75 miles in five minutes.

Interestingly, Tesla’s cost for Supercharger real estate is either free, “cheap to lease,” or the company is paid to install Superchargers in some areas.

Tesla’s Insurance

Tesla is preparing to launch its own in-house insurance, with a “small” unspecified acquisition and improved software needed before it’s ready for release.

More updates from Tesla’s 2019 Shareholder Meeting:

Model 3 Outselling All Competitors Combined, Tesla Beats Range and Efficiency of Competition

Industry Heading Towards Autonomy

Tesla’s Pickup Truck to Be Unveiled Later This Summer


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