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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