Highlights From The Tesla Annual Shareholder Meeting

JUN 6 2018 BY DOMENICK YONEY 80

Tesla wrapped its annual shareholder meeting last night and CEO Elon Musk, having faced something of a vote of confidence, is still chairman of its board.

In fact, every issue voted on went the way the company wished, with more than a supermajority of stockholders expressing faith in the leadership of the company.

But, that was just the short business portion of the meeting, what Tesla’s general counsel Todd Maron referred to as the boring part. Things got more interesting during the presentation and lengthy question and answer period.

Now, YouTube channel Teslanomics streamed the entire live presentation, taking questions themselves as they waited for the show to begin, and we’ve embedded it in its entirety below if you have the time or inclination to watch. If not, you’re still in luck, we’ll give a quick rundown of the best nuggets of information that surfaced.

Musk kicked off the non-boring part of the meeting with a presentation that hit predictable notes: Model 3 production ramp up, worker safety, Supercharger expansion, growth of its energy storage, solar roofs, positive GAAP net income and positive cash flow, and future products. Of all of that, a slide hinting at the exterior of the Model Y caught our interest the most.

The questions were plentiful and varied, but here are the ones that most grabbed our attention

  • Speaking to a question about whether Tesla had reached the $100 per kWh cost level of battery cells, Musk stated he thought they would do better than that later this year if commodity prices stay roughly where they are today. Perhaps more interestingly though, he also said that with improvements to the chemistry, more vertical integration at the Gigafactory, including the production of anodes and cathodes, and other factors, they could reach $100 per kWh at the pack level within two years. This would be hugely impressive.
  • Responding to a question about when Gigafactory 1 in Sparks, Nevada will finally be completed — apparently, it’s now only 1/3rd of its eventual size and should be completed in four or five years — Musk, together with executive Robin Ren, said they would be announcing details of a Gigafactory in Shanghai, China as soon as next month and, possibly before the end of the year, another Gigafactory in Europe.
  • Tesla will do another revision of the Semi design it had originally unveiled. Musk says it will have a range beyond what people think is really possible. He mentions also that the single design would work in North America, Europe, China, and the rest of the world.
  • Look for the capability of Tesla’s Autopilot feature to “exponentially” improve over the next six months.
  • Speaking about how Tesla service centers will double over the next year, Musk mentioned that they will be adding Tesla body shop repair locations. These would be attached, mostly, to existing service centers, with the top 10 metro areas in the US getting one by the end of the month. Saying that this would create a huge improvement in both time and cost of body repair claiming, incredibly, that they would be able to achieve same-day repair in a lot of cases.

 

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80 Comments on "Highlights From The Tesla Annual Shareholder Meeting"

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terminaltrip421
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terminaltrip421

not being a Tesla fanatic I oddly dreamt about seeing two Tesla semis in action in person.

“Look for the capability of Tesla’s Autopilot feature to “exponentially” improve over the next six months.” calling BS and don’t care on this one. let me know when it’s attributable to zero deaths or better yet even accidents.

future gigafactories / current gigafactory stuff is interesting.

Model Y “teasing” is about as useful and interesting as every other automaker’s plans to release something in the distant future. I want 2018 and (no later than) 2019 announcements.

Pushmi-Pullyu
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Pushmi-Pullyu

“…let me know when it’s attributable to zero deaths or better yet even accidents.”

What a perfect example of “The perfect driving out the good.” So long as you’ve got masses of steel and glass — and people — being moved at 60+ MPH in close proximity to one another, and in many cases in close proximity to another line of vehicles moving the opposite direction at a similar speed, some times things will go wrong, accidents will occur, and people will get hurt or die. Heck, you can slip and break your neck just getting out of bed. A zero accident rate isn’t achievable in the real world.

Let’s not prevent semi-self-driving tech from saving lives now just because it’s not perfected. Reality check: It’s never going to be perfected. Ever.

“The thing to keep in mind is that self-driving cars don’t have to be perfect to change the world. They just have to be better than human beings.” — Deepak Ahuja, CFO of Tesla Inc.

Ambulator
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Ambulator

Zero deaths is unrealistic, but I also cannot accept stopped police cars as being considered as fine targets to drive through. I don’t care how hard it is, that has to be fixed.

Pushmi-Pullyu
Guest
Pushmi-Pullyu
I don’t think the average person has any concept of how limited the ability of current semi-self-driving systems are. Cars are equipped with low-res Doppler radar, and that only detects differences in speeds. That kind of detection doesn’t even attempt to detect stationary obstacles; it’s physically impossible. So Autopilot+AutoSteer cars are at best trying to rely on camera images to “see” stationary obstacles, and that’s never going to be adequate. The disbelief shown in various comments about an Autopilot-equipped car not stopping for a fire truck parked in a lane of traffic really underscores just how very much people are over-estimating the ability of such cars to sense the environment. AutoSteer should be thought of as automated lane-keeping, enhanced with Autopilot’s ability to “read” speed limit signs, and nothing more. Yeah, it can follow the car in front of you, so long as that car is moving, and probably is capable of detecting when that car stops, because coming to a stop is a change in speed. But it simply is not designed to detect stationary obstacles, including fire trucks — or police cars — parked on the road. Nor collapsed safety barriers in front of the end of concrete… Read more »
Dave
Guest
Dave

Cadillac Supercruise works really well, in the areas it allows… truly hands off, and will be on all Cadillacs in 2020 model year, which is just 1 year away…

arne-nl
Guest
arne-nl

“Autopilot+AutoSteer cars are at best trying to rely on camera images to “see” stationary obstacles, and that’s never going to be adequate”

Never? You seem to know a lot. And have a crystal ball. Show me the evidence and I’ll believe you.

We humans use only our 2 eyes and the main reason for accidents is not that our eyes are insufficient. It’s our limited attention span. Or our view being obstructed by pillars/passengers or our neck not being elastic enough. What makes us humans still superior is the vast difference in intelligence. That gap can and will be closed.

You seem to think that the current state of the art in AI is some sort of an endpoint, that no further improvements can be made. The opposite is true. When it comes to AI, we are still in the days of the Altair 8800. There is no logical reason whatsoever that an AI with only camera’s can’t be a 10x or 100x better driver.

Kootenay EV Family
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Kootenay EV Family

There isn’t a cheap camera sensor + lens yet available that I am aware of that has the ability to see as a human eye does. The difference in acuity in low light is tremendous for one. I think there are a lot more challenges in the hardware other then it being just an AI software problem.

Pushmi-Pullyu
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Pushmi-Pullyu

That’s not the problem. The best video camera in the world won’t help when the basic problem is that computer-based optical object recognition systems using camera images cannot reliably recognize objects, especially not within the limits of real-time processing needed for a self-driving car. The limitation there is the software, not the hardware.

Using lidar or a high-res radar array would greatly simplify computer processing and make it much less prone to error, because it would mostly eliminate the need for the software to recognize individual objects. (There would remain a few exceptions such as traffic signs, which need to be read visually.)

Pushmi-Pullyu
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Pushmi-Pullyu
Evidence? The two fatalities which have been documented for Tesla cars under control of Autopilot+ AutoSteer are, unfortunately, very solid evidence of just that. How much more evidence do you need? Do more people need to die for you to grasp the fact that camera-based optical object recognition is never going to be reliable enough for human lives to depend on it? If you really want to know how unreliable and limited camera-based optical object recognition systems and software is, then Google that subject for yourself. Don’t take my word for it! Read up on the subject, and you’ll see that roboticists have been working on that for decades. Some of the problems with that are quite fundamental, and are not going to be solved in the next few years. The goal of autonomous car designers is not to slavishly try to recreate the ability of a human to drive or to see the environment around the car. The goal is to make something that works better, that makes autonomous cars safer drivers than humans are. Why should we limit an autonomous car’s ability to “see” to only well-lit conditions? High-res radar and lidar can “see” just as well in… Read more »
Lurfy
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Lurfy

Every time this topic comes up we get this lesson on Doppler radar that is wrong. Doppler “sees” stationary objects as an area without frequency shifting. It still has the timing information to know that something is there. In that sense it also does not see things moving at right angles to the sensor, the car crossing the intersection in front of you for instance. It only Dopplers things that are moving relatively towards or away from the sensor. But since your Tesla is moving it “Dopplers” the fire engine the same as anything that is moving.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

I don’t think you explained that very well. It “Dopplers” the parked fire engine the same as everything else in the background — as stationary, and therefore it’s ignored just as the rest of the background is ignored.

If we are to get reliable self-driving cars, then the cars need to be able to build up inside the computer a 3D “picture” of the environment, including the background, and including stationary obstacles. In other words, a SLAM system. If I read it right, that’s what Waymo/Google’s advanced self-driving cars do. Tesla’s cars — along with Cadillac’s and all other mass produced cars — don’t, period. This is what so many people, even people posting here, fail to grasp: That no production cars — even those equipped with “lane-keeping” features and automatic emergency braking systems — none of them attempt to “see” everything in the environment, or at least don’t attempt to react to it. They only react to objects perceived as moving relative to the background, plus certain things they specifically “look” for such as lane markings or (in the case of Tesla Autopilot) traffic signs.

That’s a long, long way from an operational SLAM system!

Dave
Guest
Dave

The Model S turned into the parked police car… This situation is totally different then the autopilot vs firetruck incidents. Autopilot is dangerous… IMO

kbm3
Guest
kbm3

Luckily there’s this thing called Science that renders opinions like yours moot.

Since autosteer implementation, airbag deployment has been reduced by 40%.

Dave
Guest
Dave

Show me that data? and I want to see the data when Autosteer is active? NHTSA refutes what you are saying… and Model S is not the most expensive car to insure… so show me the data?

Dave
Guest
Dave

Model S is NOW the most expensive car to insure.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

Well since you said so, we know it’s more FUD lies. The only question is which lie you’re telling this time.

Only the highest-performance level Model S, specifically the Model S P100D, is “the most expensive” to insure. Not the Model S in general.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

“NHTSA refutes what you are saying…”

The NHTSA confirms that Tesla cars with Autopilot + Autosteer have a 40% lower accident rate than those without that set of features, despite what’s claimed in a few scurrilous articles that fail to apply logic or critical thinking.

But nobody claimed that the accident rate is only 40% lower when AutoSteer is actually activated. Since the overall accident rate is 40% lower, we know — by applying simple logic — that the accident rate must be lowered by more than 40%, because that figure includes cars in which it’s installed but not activated!

Apparently such elementary reasoning is beyond the capacity of a troll such as yourself. Fortunately, most readers here are not gullible enough to be taken in by your FUD.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

“The Model S turned into the parked police car… Autopilot is dangerous… IMO”

Actual evidence and common sense would indicate otherwise — would indicate the car was traveling at a speed too low for Autopilot to be engaged — but of course facts and logic won’t deter you from claiming that every single Tesla accident reported in the news is the fault of Autopilot, because you don’t care about truth or facts or logic. You only care about trying to tear down the good name of Tesla, Mr. Troll.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

“It’s important to emphasize [Tesla Autopilot] will never be perfect. Nothing in the real world is perfect. But I do think that long term, it can reduce accidents by a factor of ten. So there are [9 out of] ten fewer fatalities and tragedies and serious injuries. And that’s a really huge difference.” — Elon Musk, April 16, 2018

SansIce
Guest
SansIce

I find the whole “zero deaths” comment interesting. I heard Chevy is coming out with their enhanced , hands off of the wheel, cruise control soon. I wonder if they will be spared the scrutiny of Tesla like Volvo was with the death of a pedestrian in the Arizona autonomous death of a pedestrian? Zero deaths isn’t going to happen. How about a deaths/injuries per miles driven autopilot, autonomous vehicles vs. non assisted vehicles. You can guess the results without even making the study – that is a meaningful analysis – just the facts please.

Hauer
Guest
Hauer

Volvo has NOTHING to do with that Arizona death. The Volvo automatic emergency braking was deactivated by the Uber software.

Nix
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Nix

I’m still waiting for zero deaths attributable to seatbelts or airbags. But the reality is that decades after their invention, there are still freak deaths attributable to both seatbelts and airbags. According to NHTSA, airbags still kill some people, even while saving may more lives:

“(NHTSA) estimates that airbags installed in automobiles have saved some 10,000 lives….NHTSA recorded 238 deaths due to airbags”

Now some dumb people use that info to say airbags are bad because there aren’t zero deaths attributable to airbags. You wouldn’t want to be like those dumb people, do you?

ffbj
Guest
ffbj

Investors are applauding Tesla today.
https://finance.yahoo.com/quote/TSLA?p=TSLA

gagaga
Guest
gagaga

“Look for the capability of Tesla’s Autopilot feature to “exponentially” improve over the next six months.”

Wonder what mathematical function the APs improvement has been following up to now.

Also wonder, how long the narrative of reaching full autonomy based on the current hardware can be kept alive.

When does the cross country trip take place?

Pushmi-Pullyu
Guest
Pushmi-Pullyu

Reality takes awhile to seep thru Elon’s skull. 😉 He’s finally realized that his dream of high-speed touchless, fully automated auto assembly lines is impractical. Sooner or later, he’s going to have to admit that significant advances in autonomous driving will require either lidar or a high-res radar array to be installed in the car. If he really wants to stay with radar in favor of lidar that’s understandable, but the low-res radar units currently found in Tesla cars are hopelessly inadequate for fully autonomous driving. They don’t even try to detect stationary obstacles!

Note that Tesla’s advancements in autonomous driving have essentially stalled, with nothing more than tweaks to what’s already there over the past year or so.

Tesla is gonna demonstrate a radically simplified self-driving (or semi-self-driving) system in just a few months? Well, I’m certainly interested to see what they demonstrate, but I’m highly skeptical of any significant advancement towards full self-driving using the hardware in current Tesla cars.

Dave
Guest
Dave

“Reality takes awhile to seep thru Elon’s skull. 😉 He’s finally realized that his dream of high-speed touchless, fully automated auto assembly lines is impractical. Sooner or later, he’s going to have to admit that significant advances in autonomous driving will require either lidar or a high-res radar array to be installed in the car. If he really wants to stay with radar in favor of lidar that’s understandable, but the low-res radar units currently found in Tesla cars are hopelessly inadequate for fully autonomous driving. They don’t even try to detect stationary obstacles!”

What about the hundreds of thousands of cars Elon sold telling people it will eventually have full self driving capability? Huge Class Action time?

Pushmi-Pullyu
Guest
Pushmi-Pullyu

A class action lawsuit would only arise if Tesla does not adequately address the problem. If I’m right, Tesla will have to offer a lot current Tesla car owners either a refund or a free hardware upgrade.

If I’m right, then either way, it’s gonna be expensive for Tesla. For the Model S or X, it’s $5k for ‘Enhanced Autopilot’ and $3k for ‘Full Self-Driving Capability’ if bought when the car is ordered, or $6k and $4k if added later. I dunno what the price is for the Model 3, but presumably not much if any cheaper.

Dave
Guest
Dave

You might be correct, but I could argue that I bought the car based on those claims… I think “Material to purchase decision” could be proven in this case… Either way, it would be hugely embarrassing to Tesla and Elon Musk.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

You seem to be implying that some people would want to return the car rather than keep it, disappointed that Tesla had promised something it couldn’t deliver.

I suppose that will happen with a very small percentage of Tesla owners. (Since Tesla gets the highest ratings for customer satisfaction every year in Consumer Reports‘ survey, it’s not likely to be a high percentage!) I don’t see that as a negative for Tesla’s business; Tesla can make them a fair offer on the value as a used car, and resell it thru Tesla’s CPO program. The only way that would be likely to develop into a legal battle is if the people who want Tesla to buy back the car want to be offered more than the fair market value as a used car.

Caveat: That’s all just my opinion, and I am not a lawyer.

gagaga
Guest
gagaga

@PP:
“Tesla will have to offer a lot current Tesla car owners either a refund or a free hardware upgrade”.
As far as I am informed, thats virtually impossible (e.g. Lidar would have to be integrated somehow in the body…).
Agree, that a refund would be possible. That was the outcome of the last small class action lawsuit in the matter (I think, the amount of refund was not disclosed).

David
Guest
David

It is a bit unfair to say two year without progress. Losing Mobile eye meant that they had to start from scratch- matching mobile eye, that sold itself for billions, took much of that two year period. Just matching Mobile eye in that timeframe was pretty dam impressive- and if they can easily exceed that theshhold by the end of the year, then that would be the only real test of the validity of going in house. Time will tell, but if the fleet neural learning proves it self – well then all these complaints will become moot.

Finally having Tesla being the only company capable of linking itself to low orbit proprietary satellites- well that could spell the ultimate doom fit their competitors.

Dave
Guest
Dave

Elon said yesterday the satellite connection not going to happen anytime in the next decade and he does not want to put pizza size antennas on the cars… Another Myth debunked…

Tesla does not deploy satellites for those paying attention, they can hardly pay their light bill at this moment in time…

Pushmi-Pullyu
Guest
Pushmi-Pullyu

“It is a bit unfair to say two year without progress.”

I didn’t say that. I said “a year or so”. But checking my facts, I see the date on the last significant improvement in semi-self-driving tech demonstrated by Tesla in one of their test cars — tech still not seen in production vehicles — was in November 2016.

https://insideevs.com/tesla-releases-self-driving-demonstration-with-recognition-feed-video/

Incidentally, the slowed-down video in the article also rather glaringly underscores just how very unreliable optical object recognition software is. If you look at the side view “windows”, you see literally hundreds of objects being falsely identified as “in path” objects, even when they are stationary and well off to the side of the road! Not a one of those trees is likely to jump out in front of the car, especially not after the car has already passed them. 🙁

xcat
Guest
xcat

It’s interesting to see Tesla expand their ecosystem… specialty insurance rates and now body shops attached to their service centers. Wow!

xcat
Guest
xcat

What? No mention of the vegan leather steering wheel???

Dav8or
Guest
Dav8or

I’m more concerned about the lack of a vegan gear shift knob. When will they fix this??!!!

Will
Guest
Will

i want real leather. That vegan crap is vinyl

Dave
Guest
Dave

Thank you… When you sit in a Model X the seat feels like plastic mixed with cardboard… Sorry cows, but I like leather.

westcoaster
Guest
westcoaster

The vegans in the factory accidentally ate them, no inventory now.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

Surely the rant/question from the PITA… er, PETA… activist was the high point of the meeting! Oh wait, I meant the low point.

And how terrible that Tesla uses leather on the knobs of its gear shift levers! 🙄 (It’s true: Every gear shift lever has a knob fully covered in leather in every single Tesla car in which a gear shift lever is installed. 😉 )

I’m proud to be a member of that other PETA: People Eating Tasty Animals. 😉

Nix
Guest
Nix

If the cow is vegan and eats grass, isn’t the leather vegan too?

I keed, I keed….. 🙂

Pushmi-Pullyu
Guest
Pushmi-Pullyu

Some points:

1. I was right to be skeptical of claims that Tesla’s cost for battery cells was under $100/kWh. Certainly Gigafactory One gives Tesla an enormous advantage, but they’re not quite down to that price yet!

2. I’m personally pleased to see that I’ve been proven right on yet another of my predictions about the Tesla Semi Truck: That what was shown at the Reveal was more of a concept vehicle or technology demonstrator, and not a production-intent prototype. Elon now says they’re going to redesign the truck before production. Probably nobody else cares, but it feels like a “personal best” for me in accurately predicting that. 🙂

3. Good to see Tesla finally confirm a Gigafactory (car assembly plant plus battery factory) in China. More specifically, in or near Shanghai.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

4. Same day body repairs for Tesla cars? That sounds like more of Elon’s overoptimism. Color me skeptical. I certainly hope that Tesla can significantly reduce the sometimes ridiculously extended time (weeks!) to get a body repair for a Tesla car, but same-day does not sound realistic to me.

5. The talk about two distinctly different approaches to Autopilot, and a prediction of a significant advance in Autopilot tech soon, was interesting. I eagerly await further reports on the subject, but I’m still predicting that nobody (including Tesla) will attain significantly advanced autonomous driving tech without putting either lidar scanners or a high-res radar scanner array into their cars. Current tech, which doesn’t even try to detect stationary obstacles (like parked fire trucks or concrete barriers) just ain’t gonna cut it for what people want and expect in even semi-self-driving cars.

6. No mention in this article of what I found most interesting in the meeting: Elon mentioned that Tesla is now planning on a “compact car” in about 5 years!

Viking79
Guest
Viking79

I was excited about entering all markets as well. Every automaker should take interest in what Tesla is doing now, not just premium.

tsla71
Guest
tsla71

Maybe a bumper blend, or panel alignment could maybe be done same day. Otherwise not too likely. I wonder if once these are set up it will be harder to get repairs done at an independent shop. Parts get priority to the Tesla owned shops.

Will
Guest
Will

wow taking VW route

Benz
Guest
Benz

“…..they could reach $100 per kWh at the pack level within two years.”

Didn’t he say within 6 to 8 years?

I thought that I heard him say that they will reach $100 per kWh at the Cell level within 2 to 3 years.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

I make no claims for accuracy of the info contained, but here are two posts from the Tesla Motors Club forum, posted yesterday in real time during the stockholder’s meeting:

Cosmacelf, Yesterday at 3:08 PM*

At cell level, can do better than $100/kWh later on this year depending on commodity prices. Long term, can get below $100/kWh at the pack level (like in 2 years).

Cosmacelf, Yesterday at 3:35 PM

30% to 40% battery improvement in same sized battery pack is achievable (2-3 years). 6-8 years to double volumetric energy density.

*I’m guessing that’s Pacific time, but I’m not sure.

https://teslamotorsclub.com/tmc/threads/general-discussion-2018-investor-roundtable.105297/page-517

Benz
Guest
Benz

Thanks for the clarification.

Dave
Guest
Dave

Thats what I heard… They are not at $100 cell level currently, but close…

Kimmo57
Guest
Kimmo57

A Chinese Gigafactory will probably be finished in a year 🙂

Pushmi-Pullyu
Guest
Pushmi-Pullyu

…on Elon Time. In real-world time, almost certainly not less than two years unless they’re converting an existing factory, and even then it will almost certainly take at least 18 months to actually get everything up and running at speed.

Dave
Guest
Dave

Maybe Elon will be like Boeing, build the first Model Y’s outside before the China factory is even completed. Thats what Boeing did on the first 747… Called the workers “the incredibles”.

Dave
Guest
Dave

Speaking of Boeing, Elon was back on the GF1 is the biggest building in the world again yesterday… OMG, did Boeing downsize the Everett factory? Even when GF1 is complete in “4 Years” as Elon quoted yesterday, it will still be smaller then Boeing Everett by volume, which is the only measure that matters when you are talking about a large building… Not to mention last year Boeing opened the Composite Wing Center right next door (the buildings almost touch together)that is larger the GF1 currently.

Mark.ca
Guest
Mark.ca

He specified many times that he is talking “footprint” not volume but keep trolling…

Pushmi-Pullyu
Guest
Pushmi-Pullyu

“Speaking of Boeing, Elon was back on the GF1 is the biggest building in the world again yesterday… OMG, did Boeing downsize the Everett factory? Even when GF1 is complete in “4 Years” as Elon quoted yesterday, it will still be smaller then Boeing Everett by volume, which is the only measure that matters when you are talking about a large building…”

I count several errors of fact in your rant there:

1. Elon didn’t say that Gigafactory One is “the largest” building, he said — correctly — that it’s nearly the largest building (by footprint, it’s currently #3), and will be the largest by footprint when it’s completed.

2. Elon didn’t say it’s the largest by volume. “The largest” can be measured by volume or floor space or by footprint.

3. By footprint, Gigafactory is bigger than Boeing Everett.

4. Gigafactory One will be the #1 building in the world by size of footprint when it’s completed… assuming no other larger building is completed in the meantime.

But keep on trolling, dude. And we’ll keep laughing at your FUD, and keep pitying you for how you’ve made yourself into a compulsive liar, one who lies even when nobody will believe him.

https://en.wikipedia.org/wiki/List_of_largest_buildings

Dave
Guest
Dave

Really? Tesla owns no land in China, has no permit, and no money, can you show me the roadmap to building millions of Sq ft in a year?

I doubt construction will not even begin to go vertical in a year, and then 2 more years to finish and start production.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

Things you pretend to “doubt” seem to be factually true with remarkable regularity. For example, Tesla might be buying an existing auto assembly plant. (And your claim that Tesla has “no money” is downright laughable. Really, dude? Are you actually that desperate to find lies to say about Tesla?)

But I agree that it would be unprecedented for a new auto assembly plant to be constructed and begin operations within a single year. Even for the NUMMI plant, now Tesla’s Fremont Plant, it took (if I recall correctly) about 18 months from when Tesla took ownership to when it started producing the Model S there.

If what Elon is saying is true — it certainly might be just another case of “Elon Time” — then there must already be an auto assembly plant there, and perhaps Tesla has already been working to renovate it even before the deal is publicly announced.

We will need to wait for further details to find out. One thing is certain: We won’t find out anything from reading your FUD posts!

Benz
Guest
Benz

I wonder if Tesla would want to produce all their current and future EV models at the Shanghai Gigafactory (including the Tesla Model S and the Tesla Model X) for the Asian market?

And how many of each of their EV models will they be producing each year at the Shanghai Gigafactory?

Brian
Guest
Brian

Tesla wants to produce cars, as much as reasonable, on the same continent which they are sold. Giga factory (s) in Europe, North America and China. Nissan has nearly the same strategy.

Not that Dave
Guest
Not that Dave

I understand and am used to the constant timeline stretching, but this Standard battery announcement of 2019 is disappointing. I had hoped as a 3/31 line waiter I might get the standard before the end of this year which would be helpful since I can take the tax credit shortly after, but now, not so sure. Damn.

Dave
Guest
Dave

Love the handle… Yes, its sad that the cheap model 3 is only going to come after the tax rebate phase out starts to kick in…. I think its smarter to buy the long range now, and let the tax man pay most of the battery upgrade for you…

Elon lied to the the faithful that stood in line when he offered a 35K car with a $7500 rebate… Pricing Model 3 below Bolt.. Its called a mirage… many people have gone chasing after those only to be disappointed..

Vexar
Guest
Vexar

The US Federal government is nearly done handing money out to Tesla buyers. Sure, Texas just fired up their EV program again, explicitly excluding Tesla due to dealer protectionist laws. Who here thought Trump and Scott Pruitt would extend environmental incentive programs? I’ll grant you had a perception of what he said, but I never thought the cheapest model would be front-loaded in distribution. The Chevrolet Malibu, Ford Focus, Toyota Camry et al are built on decades of process refinement. That refinement is what brings the price down. Until then, Tesla needs to stay in business which means profit margins and starting with the more expensive models first.

There is a difference between philanthropic ambition and benevolent giving.

Dave
Guest
Dave

I don’t agree with what Texas is doing, they should give every EV buyer the same incentive…

Not that Dave
Guest
Not that Dave

If cost is the issue, why would I spend 14k more plus higher insurance for a $3750 tax credit? I get it that the LR Premium is nice and may hold its value longer, but I can’t justify it to my family. I will just hope my investments will make up the difference while I am waiting.

Pushmi-Pullyu
Guest
Pushmi-Pullyu

“Elon lied to the the faithful that stood in line when he offered a 35K car with a $7500 rebate…”

No, as usual it’s you who is lying, Mr. Troll. Tesla never, ever cited the cost of the Model 3 with the $7500 rebate. Many journalists did when writing about the Model 3, but not Tesla.

Norman Foster
Guest
Norman Foster

What was interesting is throughout this shareholder meeting Musk never lost his cool.

Dave
Guest
Dave

He did not have any tough questions to answer.. these were shareholders, mostly all of them worship the ground he walks on. Lets wait for the Q2 earnings call, that might be more interesting.

Norman Foster
Guest
Norman Foster

Elon Musk titters when someone said, “I also think boring bonehead questions are not cool, hopefully, this is little more interesting. https://news.alphastreet.com/live-blog-tesla-2018-shareholder-meeting/

scottf200
Guest
scottf200

An excellent summary was put on the related reddit page.

Benz
Guest
Benz

I think that Tesla will not offer a Model S or a Model X with a higher than 100 kWh battery pack anytime soon, at least not before 2022. But eventually they will offer that. And that is good as well. A 100 kWh battery pack is certainly not the maximum.