Tesla Annual Shareholder Meeting 2020: Key Takeaways from Elon’s Company Update

Sep 22, 2020   

Tesla followed the Annual Shareholder Meeting with a company update from Tesla CEO Elon Musk:

Tesla’s Shanghai Gigafactory went from a “dirt pile” to volume production within 15 months, expected to one day produce a million vehicles per year.

Model Y’s journey to volume production was “the smoothest launch” Tesla has ever had.

Tesla is the first automaker in over a hundred years to develop production vehicles and become profitable.

Tesla introduced the lowest-cost Solar Roof on the market, which will become a “major product in the future.”

Four consecutive quarters of GAAP profitability.

Factor in the value of autonomy when valuing TSLA.

50% worldwide vehicle delivery growth in 2019.

Tesla published an extended impact report.

Tesla’s factories are safer than the industry average.

Autopilot functionality continues to improve: with Autopilot engaged, average collisions drop to 0.3/million miles as opposed to the industry average of 2.1/million miles.

3 new Gigafactories: Shanghai, Austin, Berlin.

Battery Day coverage forthcoming, with “truly revolutionary” technology that’s fundamental to Tesla’s goal of a sustainable future. (Tesla is taking a short break prior to starting the presentation.)

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