Tesla Annual Shareholders Meeting

check-check okay first I got to take a picture real quick what a groove hang on [Music] [Applause] all right everyone's looking sharp and then one of the board right there we go I could do a selfie too but let's not hate that all right as a reminder if you haven't voted by proxy or I'd like to change your vote you may do so by picking up a ballot at the table tables back there in the corner over there once you've completed a ballot please hand it to Lisa Brenton Lisa can you please raise your hand there's Lisa she's over by the table over there of computershare she's our inspector of Elections I'd like to do is first welcome Robin Denholm our chair she's gonna give us some opening remarks [Music] [Applause] thanks Jonathan and welcome and good afternoon to everybody joining us here live in the auditorium here but also online so thank you falling following the formal part of the presentation or some might say the more normal or boring part of the presentation Elon will join us to actually go through a presentation as well which I'm sure all of you are looking forward to in addition I'd like to thank and note several people that are in the audience our board is in the audience or many members of the border here and I'd also like to member that mentioned the number of executives from Tesla are also here in the room as well I'm sorry I promised myself I would not do that today and finally Kevin Healy from PricewaterhouseCoopers is here Tesla's independent auditor is in the room today so after the voting as I said Ellen will give a presentation about Tesla and answer questions so the Q&A is always a highlight of the stockholders meeting but I would like to start today's meeting by thanking you our investors our shareholders that the tremendous support that you've given Tesla not just over the last 12 months but also over the last many years without you the progress that we're making as a company towards the mission of moving the world towards sustainable energy would not have been would not have happened when you're changing the world and many industries in the process you need to have a certain amount of intestinal fortitude as an investor and when I speak to many of you our shareholders you have that in spades so thank you I am incredibly honored to be your chair and when I sit back and look at what the company is achieved in particular over the last year with gap profitability for the second half of 2018 and over 245 thousand vehicles delivered two hundred and forty five thousand five years ago that would be a dream and also over one gigawatt hour of energy storage deployed in 2018 breaking ground in Shanghai and many many other achievements I also take stock at this time of year to think about what we've achieved together over the last five years and over the last 15 years that many of you have been part of that journey as well it's truly astonishing what the company has achieved it's also easy to lose sight of that on a day to day basis there are many highlights to come and the opportunity ahead of us as a company over the next five 10 and 15 years is immense and I want to thank you all for being resilient shareholders and look forward to speaking to many more of you in the months and years to come I also want to take this opportunity to thank two of our fabulous board members who are actually not standing for reelection today they're Brad buss and Linda Johnson rice Linder has served on our board for only two years but it's been a phenomenal two years for her contribution to us not just as a member of the board but also an active member of the compensation committee and I'd also like to thank her for amazingly positive attitude and her insights on many topics and also Brad buss who preceded me as the audit committee chair and has been on the board for more for almost ten years and he's done amazing work across that entire time his contributions to the board have been many and I can't list them all today but he it's been awesome to work with him and we will miss them both and so now I'd like to it reintroduce Jonathan Chang to go through the formal part of today's meeting thank you thanks Robin Robin our new chair has been doing some great amazing work with our board and our company so we really appreciate all the work Robin I am the general counsel at Tesla and this starts now the I think Robin referred to it as the boring part of the meeting often in my meetings she refers to me as the boring part of the meet but so this is it it's why I'm well suited for it okay let's get started by calling the Tesla's annual meeting of stockholders to order please refer to the agenda and the rules of the meeting that were provided for you today the time is now 2:30 9 p.m. and I declare that the polls are now open we have already received over the past few weeks voting proxies from our stockholders and that means that almost all of the votes that will be counted we're already submitted prior to today prior to this meeting however as I mentioned previously if you wish to submit a ballot to vote your shares or change your prior vote please pick one up at the table back in the corner by the last door over there and hand it to Lisa Brenton who's standing standing there over by the table from computer share or any of the Tesla personnel collecting ballots there's gonna be some folks walking around if you just raise your hand you can wave them down with the ballots I'll give you a few minute few seconds while people go around and collect ballots here Tesla's Board of Directors has appointed Lisa Breton of computershare to serve as inspector of election for this meeting Lisa has taken and signed an oath as the inspector as the inspector of election thanks Lisa computer share has certified that starting on April 20 April 30th 2019 the proxy materials or a notice of internet availability of the proxy materials were mailed or provided to all Tesla stockholders of record as of April 15th 2019 we have a majority of the outstanding shares represented at the meeting so I declare that there is a quorum present and that we may proceed with the meeting the items on the agenda are as follows the first proposal the election of two class three directors IRA R M prize and Kathleen Wilson Thompson to serve for a term of three years or proposal five of our agenda is approved two years proposal two to approve tesla's 2019 equity incentive plan proposal three to approve Tesla's 2019 employee stock purchase plan proposal for to approve and adopt amendments to test the certificate of incorporation and bylaws to eliminate applicable supermajority voting requirements proposal five to approve and adopt an amendment to test the certificate of incorporation to reduce the term length for directors proposal six to ratify the appointment of PricewaterhouseCoopers LLP as Tesla's independent registered public accounting firm for the 2019 fiscal year Tesla's board has recommended that our stockholders vote for each of those director director nominees and for each of those proposals that I just listed above we have also received two stockholder proposals as described in our proxy statement the first stockholder proposal is an advisory vote to recommend that Tesla establish a public policy committee our board has recommended that our stockholders vote against this stockholder proposal this stockholder proposal is proposed by mr. Jang's AO who is present today he's here present with this proposal mr. Zhao can you please identify yourself yes please mr. Zhao you have three minutes to present your proposal thank you very much and good afternoon favors here I were making a worse than poor people today is too hot so I want to everybody enjoy the meeting that's one minute shareholder proposal number seven resolved that shareholders recommend Tesla STP a public policy committee to oversee the company's policies including Human Rights environmental domestica governmental regulation Foreign Affairs and the international relations affecting the company's business and especially thank you ferry shareholders voted for my shareholder proposal last year for independent chairman as a 16 percent I expect you to vote for my proposal today against I'm very much Thank You mr. Chau I would like to remind our stockholders that Tesla's board has prepared a statement in opposition of this proposal which appears in our proxy statement finally we have also received a stockholder proposal for an advisory vote regarding simple majority of voting provisions as described in a proxy statement our board has recommended that our stockholders vote against this proposal this stockholder proposal is proposed by mr. James macritchie who is represented here again by mr. jenks out to represent this proposal mr. Dale you have three minutes Simpson before proposal number eight simpler majority vote resolved Tesla shareholders request that our board take each step necessary so that each voting requirement in our Charter and bylaws that calls for greater than simple majority vote be eliminated and replaced by a requirement for majority of the votes cast for and against applicable proposers or a simple majority in comprehensive with applicable laws thank you very much I make a December enjoy great Thank You mr. Tao I would like to remind our stockholders that Tesla's board has prepared a statement in opposition of this proposal which appears in our proxy statement are there any proxies remaining in the audience that have not been submitted keep your hands up and folks will come around and collect those ballots please submit them now if you want them to be counted now okay looks like we haven't all clear here I declare that the polls are now closed based on the proxies that we have previously received I'd like to announce that our stockholders have approved the recommendations of the Tesla board on all agenda items except item 4 regarding the elimination of applicable supermajority voting requirements in our Charter and bylaws and item 5 regarding the reduction of our director terms while over 99% of the shares present and entitled to vote on these two items did so as recommended by the board unfortunately less than two-thirds or 66 and 2/3 percent less than that of our total outstanding shares which were required to approve II these items submitted votes we will formally announce the results of the voting by filing a Form 8-k within four business days of today's meeting all right that it concludes the boring part of this meeting the official business of today's shareholders meeting is done which is now adjourned now welcome you to stay for the company presentation we'll have Ilan our CEO coming out soon and then for a stockholder Q&A session with Ilan as well during the course of the session we may discuss our business outlook and make other forward-looking statements such statements are predictions based on our current expectations actual events or results could differ materially due to a number of risks and uncertainties including those disclosed in our most recent Form 10-q filed with the SEC such forward-looking statements represent our views as of today should not be relied upon thereafter and we disclaim any obligation to update them after today with that please welcome our CEO your CEO Elon Musk [Music] [Applause] [Applause] [Music] [Applause] [Music] [Applause] hi everyone look hey thanks for coming so I think we've got a lot of interesting news I think it's gonna be I think you know well received this it's been a hell of a year but a lot of good things are happening kind of think it's worth going over those those things so model three last four quarters is actually selling out selling old competitors combined in the US so it it's the highest revenue car in the US and best-in-class performance and it's actually the best-selling car by revenue of including high-volume cars like the Toyota Camry and Honda Accord so the dollar sales [Applause] yeah I think most people unaware this but we're about the fourth best selling by numbers but the highest selling by revenue over the past year of any any car in the u.s. so that's a remarkable that an electric vehicle is the best selling the highest revenue car in the country I think did ten years ago nobody would've believed it and think thanks that the hard work that has a team this is what if this is a result it's great [Applause] and as I said in class the model 3 is outselling the Mercedes c-class the BMW 3-series oh da forest poor and the Lexus combined yes let's lesson in units that the difference is higher in dollar dollars so also have the most energy-efficient cars in the world so this is the EPA miles per kilowatt hour and you can see the model 3 is that around 4 and there are ranges off to the right I don't wanna pick on the e-tron but it's this is room for improvement so it's wrong if you speak 500 events that's quite funny so the the new Model S is 370 mile range and you can go we actually did this with the Motor Trend they drove non-stop from the Bay Area to LA so it was admittedly that was downhill sort of not really feels down a little bit it's not it's but on a single charge to go from the Bay Area to LA is pretty pretty well for any any car and especially a full-size sedan and then the the new Model X range is 325 miles despite it being a large SUV it's worth noting that no car has exceeded our electric cars exceeded the range of the the first Model S that we came out with in 2012 so [Applause] and yeah resisting the temptation to pick on competitors I will not do that but the its it's a testament to the tells an engineering team to be able to have made a car seven years ago that is still not being exceeded in range and now to have a car that's 370 miles and with steady improvements that likely to occur over the next few years it won't be long before we have a 400 mile range car yeah so we get this question a lot and it's I want to clear there is not agent managed problem absolutely not [Applause] the we've sales are have far exceeded production and production has been pretty good so what we're actually doing doing well and we have a decent shot at a record quarter on every level for if not it's gonna be very close we didn't but it but we've got a shot at a record quarter and ninth set of orders are coming from non reservation holders so these are our new customers walk three multi mark potential when we see trade-ins sixty-three percent of the trade ins on non premium cars which means people are trading up to buy it so model three [Applause] and yeah 12% of mid-sized sedans $0.25 other premium vehicles but it's just interesting that the the the a supermajority essentially of the of the the cars they're being traded in our non premium so it's just this this is a lot of potential and and when people look at they would feel like a total cost of ownership the actual total cost of ownership because electricity is so much cheaper than gasoline and the maintenance costs are much less you know Damon you don't need an oil change filter change you basically never need to change the brake pads because of regenerative braking the actual operating costs of electric car are much less than a gasoline car and so it takes a while hope to educate people on this because the the easiest thing to look at is just the the lease price or the purchase price but the we're factoring in fuel and maintenance the it's actually buying model 3 is like buying a camera or an accord so the better idea is better from a cost standpoint yeah that's it's a great car it's a car that is designed to for you to have the most fun and if we keep putting putting gems on it like the the fart app of course that's one of my favorites it's like perhaps my fire perhaps my finest work the autonomy investor day that I think was well-received that the Tesla full self-driving computer is literally 20 times faster Victoire 21 times faster than the nvidia system that are places and we expect to be feature complete with autonomy by the end of this year so you know that you'll still need to supervise the autonomy but it should be able to go from your garage to your parking space at work without intervention so then what then will will obviously put on billions of miles of testing and then I think probably some time next year I you'll be able to have the car be autonomous without supervision and then sometime thereafter we'll be able to convince investigators that this the autonomy is safe enough that the car could actually go around with no one in it so and it's really the critical elements for that are having billions of miles of testing ultimately tens of billions of miles so having a huge fleet having a very powerful AI inference engine and that's the Tesla full self-driving computer and and having the sensors in the car that that are necessary for the car to drive like being cameras in all directions right our ultrasonics a good I am you GPS that kind of thing so I think we've laid the groundwork here for a fleet that essentially every car made since October 16 is capable of full autonomy in our view with a replacement the computer alone so you just need to switch out the computer a lot of people were puzzled as to how can I say that we would have liked you know a million robo taxis by the end of next year and it's if you sum up the vehicles made since October 16 and we're essentially switched out the computers for the ones that were made after the full self-driving computer a few months ago the we will have a million cars that are capable of self-driving will still need regulatory approval but the capability will be there and this this massively increases the value of the car so in fact I think it's basically financially insane to buy anything except an electric car that is that is upgradeable to autonomy it's just nuts you can see one country after another is putting dates on banning gasoline and diesel cars and the the environmental pressure to move away from fossil fuels is getting stronger and stronger so it's just it's just basically mad to buy a fossil fuel powered car at this point because its long-term resale value will be less and less and then it's also important to buy a car that is upgradable at least two full self-driving because a car that that cannot do self-driving will also be not worth not very much you know if so may this current before but like essentially if you buy a gasoline car that's not full self-driving it was like riding a horse and using a flip phone I'm like hello it's not wise so you know it's really it takes us a bit of time to educate consumers about this but I think people are starting to get it and like you know a car is a major investment for most people it's often their most valuable asset and if you're gonna make your choice about your most value acet you want to look towards the future and say where we had it clearly were headed towards electrification clearly we're headed towards autonomy and so that's the kind of car you want to get so I think I think this is people are trying to to realize this then with model why the this is the the biggest segment of vehicles and in the world is the midsize SUV it's two and a half times bigger than the bottle three market and so with that we think - probably demand for the model Y will be greater than the s3 and X combined and we put a lot of effort into the efficiency of the car getting incredibly low drag coefficient and I think we might be able to get the drag coefficient to actually lower than the three which would be it's quite unusual and the car has a lot of room inside it's I think like a good sense of design or a good design principle is if the car looks bigger on it feels bigger on the inside then it looks on the outside that is a that is a good design so this car is actually quite big on the inside and then we expect to hit volume production towards the end of next year internally we're aiming for four sooner than that but we want to have some some margin on on that timing so yeah [Applause] I still find it crazy that we have this gigafactory that that used to be just rocks you know rocks and bushes and I remember JV Andrew hey guys actually guys might want to come up and join John for say [Applause] yeah I think it'd be good you know maybe you talk about the gigafactory and you know I remember we were like doing the calculations for battery capacity and we're like we need more batteries than all of earth is currently producing it's so it's unless we build this thing it's not going to happen so yeah I mean maybe you tell the story yeah sure well good to see everyone hello yeah it was a pretty crazy story and Ellen and I were just talking about it recently and it's sort of amazing how some really simple kind of napkin math could lead to such a kind of outrageous you know result I mean as he just said you know we basically did the quick math and looked at okay we're gonna build you know just a hundred thousand cars per year and this many kilowatt hours per car you know therefore therefore you know 35 gigawatt hours of cells per year well that's a huge number and it was actually more than the entire world was producing for all applications cellphones computers cars everything just a few years before that so you know that was what kind of shocked us and said well we you know this isn't going to work unless we build an entire new facility to solve this ourselves if we probably could get all the factory factories in the world so therefore we've better build this and yeah I mean the crazy thing is this was basically I think five slides and we showed a picture of factory in the hills and and said to investors we need money to build this thing when they gave us money which is cool and and we built it yeah there it is right there it's really giant and it's getting bigger so you know we're we have about 35 gigawatts of capacity potential Attica right now and then were about sort of 70 or 80% of that capacity has been realized so like like there was a bit of confusion earlier this year because Panasonic said there was 35 and there's technically yes but it was it's not 35 at max capacity yet but it will be probably I don't know end of this year or next or early next so and then it's also lowest cost per kilowatt hour it's half of all global evey battery production so you add up all the EB all electric vehicles in the world all the batteries that they use that's approximately equal to we make up the gigafactory and maybe just a quick shout out to the whole team out there and the team that's made that happen I mean it's basically such an epic project I mean as you said starting with dirt literally dirt in the desert too now the biggest battery factory in the world and it took thousands and thousands of people to do it Kevin had a huge part in that sitting there so yeah it's it's pretty amazing watching that happen and I feel super proud to be part of that team yeah it was so and then we're making good progress on the gigafactory in shanghai if you've watched the progress online it gets followed with in excruciating detail I think the number of drones flying over the factory is pretty nutty we need air traffic control so but there's the shell of the building is is basically done at this point it's it's I think this might be the so it's the fastest large factory construction that I've ever seen and maybe the sewing faster but I'm not aware of it because this is it was amazing and we're already installing a lot of the factory equipment the stamping machines rule against installing a paint shop and the battery module lines and that kind of things so this will be obviously extremely important to our future coz Chinese the is the largest electric car market in the world and to date we have had to pay import duties sometimes quite significant ones ranging from 15 to 40 percent which and and we did not have access to local incentives because that those are only if you make the car in China now that the local incentives are going away I think approximately we're not factory starts I think this is a coincidence but but at least we will not have the cost of the import duties and we will it will cost less to make the car in in China so we'll be able to have a more affordable car for the China market so this is extremely important to Teslas future and then gigafactory europe as you can see we've made great progress here we would just put this picture in like literally five minutes ago do deep planning here this is not at the actual place that it'll be this is a generic picture of the of Europe people are gonna try and reverse engineer exactly for that patient sure it'll could figure it out you know 15 yeah lovely factory there I think it may be near Hamburg or something but we're still it looking at what the right place is to put gigafactory europe hopefully we'll make that decision towards the end this year and and it also makes sense to have a car factory at least on each continent this is wise wise move will continue to expand I think our activity in the US but having to not pay tariffs and and and have the really long delivery chain and high transport costs will make the cars a lot more affordable to people in Europe and in China so they were looking forward to making decision on this hopefully towards in this year and then tells the energy we're looking at probably at least doubling its energy storage growth for power wall and power pack compared to 2018 it certainly we have a bigger goal than that but I think we can at least double it and so it would be at least sort of an order of two maybe approaching three gigawatt hours and we're slowing the solar roof in eight states we're about to complete version 3 of the solar roof so this is actually quite a hard technology problem to have an integrated solar panel or solar cell with a roof tile and have it look good and last for 30 years like roofs have to last a long time so the it's it is the amount of testing that one has to do and do and do accelerated life testing to say how can we predict what how this will perform if we just spend six months of testing check that out to 30 years so it's quite a hard problem and then making it easy to install getting the cost low but I'm really excited about version 3 of solar roof and I it's another way of compensating where we have a shot at being equal to a comp single roof plus you someone's utility costs or being maybe lower than that so that's like one of the cheapest roof is available so you have a potentially a great roof with better economics then a normal fairly cheap roof and your utility bill so if you can have like basically a better product at a lower price that is also will take off like like crazy so but it is a hard problem to solve like many other companies have tried to solve this problem and they have not succeeded but I think I feeling pretty good about this you guys want to say anything well I would just say that the team is super motivated by that goal and we think we can achieve it and we are I mean we are laser focused on achieving it yeah actually I've had a number of meetings with with drew on the table damn it we've got to achieve this it can be done it can be done in tension intelligence and invention yeah make it happen [Applause] maybe we should actually introduce drew sorry we kind of forgot to do that drew has been this is your 14th year at Tesla so yeah Drew's not exactly a stranger [Applause] so drew joined my team when it was a tiny tiny team there were like five or ten of us or something a couple years after the company got started and you know he's been kind of you know I don't my right-hand person you know involved in almost every key initiative that I've done at the company through that whole tenure and I think you're super amazing I I do think you know you guys should see more of Drew and you know you've been involved in a lot of stuff and are still leading a lot of key initiatives for us anyway introduction to Drew Thank You JB yeah super glad to be here talk about a lot of our core technology areas that we've been focused on over the years and yeah thanks for thanks for introducing me JB [Applause] so yet I mean it drew and and seem have been really key to a lot of the powertrain innovations battery innovations and solar roof and a number of other things so it's always a pleasure having those engineering discussions mutually meet feeling's mutual all right we'd love to you Brooke so we get the the Version three supercharger it was actually like that the scope of technology that is advancing at Tesla is is really massive on many fronts so as I mentioned we've got version 3 of the solar roof coming out soon we've got version 3 of the supercharger that's being deployed around the world and this is a seventy five miles and five minutes to capability at 250 kilowatt system if I'm sure a lot of you have used to superchargers before and they've typically been anywhere from 75 kilowatts to if you if you've used one recently you might have gone up to 140 kilowatts that's but that's the version 2 and then version 3 is 250 kilowatts and when when turning 50 kilowatts are charging a really efficient car the miles the miles per minute is super good and in fact think there was recently a test with it sure who it was but tested like what car could charge the most number of miles in half an hour it was the model 3 yeah and then we'll be publishing new maps for the supercharger deployment and we're finally gonna get the trans-canada highway and for example and then we're gonna go ask it to so yeah the actual the this this map doesn't even include all of the locations but they really like the the two critical factors we've found for sales in any given region and the really obvious actually are is there a service center within reasonable distance and it are they're super charges on all the routes that you'd like to take you don't want to have like 80 of the routes because then like oh geez what about that one trip that you can't do you now so you really want to have it's super charges and service centers are the absolute key to to sales and really we can we can map our sales to it like basically people are just like sensible they're like okay you need to service your car and you need to be able to travel conveniently on long-distance routes and so we're we've got that to we ourselves are good there will so have to have good consumer financing and make sure pricing is competitive but it's it's as soon as people see that they they buy the cars appreciate for it yeah so we'll be expanding the supercharger network quite substantially over time and also enabling Tesla to use other high-speed charging networks so you have like a adapters for that and the key is like when you buy a car you're you're buying freedom freedom to travel and and then and so you must have the superchargers you must have high-speed charging and then if the car breaks it must be fixed quickly I'm actually really excited about our mobile service so we have mobile service bands that will come fix your car as soon as it breaks down it actually will immediately send a note to Tesla mobile service and and will be on its way to fix the car and so we were actually which we trialed it in in the Bay Area and now I've extended it to the LA area and a number of others for for tire repair so we'll just come the van will will arrive give it give you a new tire and half an hour and you're on your way it's it's like I mean it makes it a huge difference that's and and and we're adding things like bumper repair and mind like collision repair so you know if I look at the things that most trouble customers it's like things like collision repair taking and eternity and then a third party Body Shop charging a nominal leg after taking an eternity so we're moving a lot of the the body repair in-house at Tesla and and then even providing it on on mobile service and we just did our first bumper replacement from Pro mobile service van so like typically a collision repair can take weeks or months in this case it took less than an hour yeah [Applause] haha that's right South Park truck yeah so obviously got the like that the product roadmap for Tesla is incredibly exciting and you know obviously model y coming fairly soon you know about a year or so and then the pickup truck which we hope to unveil hopefully this summer we spend a lot of time on design of a pickup truck so it's I think it's gonna be great and I think it's the coolest car I've ever seen to be frank I think it's not everyone made sure that opinion but worst case scenario we'll build a normal-looking truck man no problem that we know what those look like so the this this is something that'll if you're driving it down the road just look like it came out of a sci-fi movie so it'll be really cool anything and then the the semi which we ever look forward to getting into production you know hopefully towards the end of next year a lot of this also is dependent on our ability to manufacture a lot of cells and make a lot of battery packs so there's there's not much point in adding product complexity if we don't have enough batteries then its complexity without gain so we're matching the the product rollout according to the scaling of battery production that's really the main limiting factor and then as we as we scale battery production to very high levels we actually have to look further down the supply chain and we might get into the mining business I don't know maybe uh-huh yeah a little bit at least so we'll do whatever we have to to ensure that we can scale at the fastest rate possible so to this point we are going to have a battery and powertrain investor day that's hopefully this summer before the end of the year for sure because I think this is a big deal I mean I think if if I were an outside investor I would really focus on on two things what is the time line to full self-driving and what is your plan to scale and battery production and and get the cost per kilowatt hour lower those those are it's basically battery cells and full self-driving those are the two strategic things that are foremost importance haha exactly so these are questions that were asked online and then uploaded are they're actually really smart questions being really impressed with I think it's so say it's a comma or say don't say anything and yeah so this is a this is a key question is we got a scale battery production and match that to vehicle demand because what say anything about that or we don't like the cat out of the bag too much but yeah still in the bag I mean I think it's right on I mean those are exactly the right problems that we need to solve to scale and they have to have been for some time but it's more obvious now than I think it ever was that we need a large-scale solution to sell production yes and get the cost per kilowatt hour lower in energy density higher yeah and we're not sitting yeah we're not sitting idly by we're taking all the moves required to be masters of our own destiny here technologically and otherwise and I think you know through through all the experience we've developed with partners and otherwise we have a we will we have solutions in place yeah good question what aspects of battery production will integration Maxwell Maxwell have we think this is really quite strategic but we'll leave the details this to kind of the battery and powertrain investor day this is there's some very important technologies there that I think will have a big effect on the cost and and scaling of cell production both reducing the cost and reducing the capital required to scale cell production right on absolutely yeah sometimes a little optimistic about time frames it's time you knew it's time you knew yeah optimism about what about what are you doing this if I wasn't optimistic geez [Applause] so the you know I think we do actually have advanced someone out in early access right now and we're making steady improvements to it it's it's close to being amazing it's look it's not quite there but it's close there's a lot of complexity in parking lots turns out so it would be very easy to if if you were like on open ground and you some of the car to just drive to you that's no problem but if you've got to navigate through a parking lot and you're effectively going through a maze with a lot of obstacles and people moving and cars moving that's quite tricky so it fit it it's it's close to being magical so if I you know if I feel good about this this going to wide release fairly soon yeah you want it to be good I mean that's yeah yeah that's the simplest answer it's got to be awesome totally awesome and super safe so you know they can't be you know we don't want to like run anyone over or that would be bad so it's tricky like if you make the car really sensitive then it just you know goes paranoid and then it doesn't move and then you want to make it too aggressive as bad - so the and really the threshold is it is it more convenient to some in your car or walk your car and if it's more convenient to walk to your car someone is not that useful so it has to move reasonably fast certainly faster than you could just walk there status of test insurance we're pretty close to being able to release that we have a small acquisition that we need to complete and a bit of software too right but it's what be long before we release that there's a pickup truck event sometime probably sometime this towards the end of summer we're doing I guess like we're trying to create something here that is really new and not not just derivative of all the other vehicles in the road that we try to create something new and it's it's not just basically a copy of the form factor of everything else but you still want it to be great it's very hard this is a very hard thing and our goal here is to have something that's more functional than an f-150 which is a great truck and tough Stanley call a tough selling vehicle in in in the US the yeah but then also better sports car than a basic 911 so that's a hard one but like it's physically possible so I think we can do it [Applause] I think Tesla could write reliance of a sexist darling I think we would have to have eight different antenna for StarLink because the star like antenna is it's it's a it's actually probably the most advanced phased array antenna in the world including military but it's it's about the size of a medium pizza so we find for trucks and RVs and airplanes and any kind of like a house or a business or something like that but it would look a little odd on the roof of a sedan so I think but we could make a smaller antenna and and maybe use it but I think I think most likely we would continue to rely on the cellular networks the the value of star link the main value of star link is providing a low latency high bandwidth access to the sparse and and and moderately sparse it would like look relatively low density areas so we like basically rural or semi-rural areas places that don't have connectivity right now so I think it's it's like quite quite a great system but it's you know it's probably able to serve like three to five percent of people in the world now that's a lot of people because of all the people in world but but it's it's it's actually not ideal for high-density cities it's really to to serve the the answer the unserved or poorly served is what starlings about [Applause] we're gonna have tiny wipers I think actually probably just applying some hydrophobic coatings will most likely solve this problem so we have this issue with the front radar where you can accumulate ice and snow on the front and then and then the radar can be obscured but if we apply some just a thin hydrophobic coating sort of water repellent coating then it that usually solves the problem so probably something like that well was that you know please clean it clean the snow of the camera so so we feel good about demand that's you know I think not a major issue the profitability is always challenging if you're a fast growing company and I think that the scale at which Tesla is growing is like hard to appreciate but last year we we doubled our fleet like so we made as many cars last year as we had in our entire history and this year you know it's gonna be like pretty like similar at least sort of sixty to eighty percent growth of the total vehicle fleet made more than that so it so it's hard to be profitable with that level of growth we could slow down but then that would not be good for sustainability and the cause of electric vehicles and and solar and storage in the lab so so you know I think we can be cashflow positive despite having a very high growth rate and then what would have an update for like rideshare I guess like so we could kind of practice a rideshare fleet with with people and then that would be good for figuring out things pull the rover taxi fleet in the future so that I mean this might this might make sense I will probably do something like this probably make sense yeah okay sort of a supervisor over tax rate and then yeah we're happy to take questions for the audience okay yeah ha ha ha suicide we're starting with but thanks for taking my question my name is Brian Campbell I have been a shareholder of Tesla for a couple of years now I tried to buy more shares as often I can as I can afford to I really believe in this company its products its mission its leadership I want to I feel privileged to be able to cast my lot in with you and I want to thank you and the whole Tesla team for all of your hard work and dedication my question pertains to Tesla energy I have read several analyses concluding that significant hurdles along the path toward sustainable energy is transmission of electricity over long distances since renewable energy production and capacity is concentrated in certain regions being able to efficiently transmit that electricity to the to other regions seems to be an important part of the equation I was hoping that you might share some of your thoughts about this part of the equation and if it might make sense for Tesla to someday get involved in electricity transmission thank you yeah I think the a big part of the value of of solar roof or retrofit solar on the roofs of houses and and businesses and whatnot is that so you can have localized power generation and then if you have a battery storage that's also very helpful for stabilizing the grid so you can you can sort of over produce energy during the day and then release it at night and actually use the power tools and power packs as a as a massive network for grid stabilization and for providing energy essentially flowing it back into the grid and and that word make will make a big difference to reducing the need for long distance power lines I think very few people want more long distance power lines they're generally not great don't look great sort of slightly unnerving to drive under them and that kind of thing so you want localized power generation and and then you don't need to build more substations and and long distance power lines I think that's the that's the answer also storage is a really great way to improve the utilization of the existing transmission grid the transmission grid is kind of like the highway system it's very rarely busy and and so what storage you can do is make it busy all the time so you get a lot more utilization out of the existing infrastructure in fact things I think could be pretty interesting is for utilities and we've done a lot of large-scale utility battery installations most notably the one in in South Australia which is significantly outperformed their expectations and we're gonna be doing a number of other projects in Australia and around the world and we've done up some very big projects in California so I think energy storage as Drew is pointing out is actually extremely important and and you could you could actually probably locally put power packs in the substation if you will know what a substation is sort of like where the high power lines come in and then it gets dropped from like say eleven thousand volts to you know four hundred volts or five hundreds and then it gets distributed to a community so if you see a bunch of weird-looking electrical equipment with a bunch of with high-powered lines coming into it that's called a substation but you could in that same footprint fit a number of power packs and then two turfs points when power usage is low such as like at night it drops considerably then you could charge up the power packs and and then discharge them during the day and then you we need to build extra of substations and power lines which were very disruptive to communities that's exactly what the Southern California Anderson project was it was out of substation doings I know that so that it's a good existence proof yeah 20 mr. Pelley's shareholder china is a place where there's a lot of car action right now there's a lot of volume over there a lot of growth markets and they have 60% of the Eevee's so I want to ask you about the Giga 3 project and its goal the building that you're building me is a Fremont scale operation maybe a little bit bigger and last year you said it was 500,000 units per year target that seems a little bit low to me because okay sure I think for a company for a country like China and that would give us like 29% if the other players providers product sellers say still which they won't also if we're at volume going to higher volume we learn more get the cost down that's a good thing also we connect up with the supply chain which is very powerful over there you know advanced car electronics batteries Panasonic cats all Samsung LG people like that on the demand side with no import fees our cars compare very well to all the other products yes and the Chinese like Tesla style luxury quality range so a plus and they need help getting rid of smog in their cities so and and maybe we could even export from that factory to other Asian factories so why was a target set at 500 do you think in China we are being aggressive enough oh man have you seen the past that China factories being built I mean I've never seen anything built so fast in my life is pretty epic oh why not - yeah okay so okay well we can't spend money too fast you know we'll run out of it so there's like we're yeah we're I mean I think like long-term that factory will probably do more than five hundred thousand so this sort of like an interim goal maybe it does a million or more long term yet but then probably we should look at it maybe having like like China is pretty big geographically and so it may make sense to to have factories and in other parts of China in order to reduce logistics costs you know the like a very big impact on the capital efficiency of any company is the the time from when you receive raw materials to you building the product and then getting the product to the end customer and so if you can compress that time to where ideally I mean the ideal circumstance you receive the the painted for the car before you have to pay for all of the ingredients of the car then the faster you grow the more capital you have so it is very important to localize the product production and have the supply chain be close by and for everything to move really fast because because then you can actually scale and the fast you scale the more cash you have whereas the counterpoint is if you have to pay for all of the ingredients long before you get paid for the car which is currently true for cause that are outside the US because we have to put them on a boat go through customs then then transport them within Europe in China so so our non US production is is it's challenging from a cash flow standpoint because you have to pay for everything long before we get paid for the car and so a big advantage of the local production in China in Europe will be solving for that cash cash flow gap Daniel and II I'm in the public real estate investing industry given the continued need for supercharger expansion I think there's an opportunity to partner with a public real-estate publicly traded real estate company to buy the land Tesla wants for superchargers or even to buy land Tesla currently owns four superchargers structure lease to just initially cover the cost of holding the land and through my experience in public real estate I think there would be a huge demand to invest in the necessary infrastructure for evey charging which effectively for Tesla would finance and aggressively speed up supercharger expansion while preserving Tesla's capital would that be of interest well most of our supercharger locations are actually either free or leased at a low rate so I actually sometimes they pay us from from what I think I you you provide the the capital for the equipment correct even when you get it for this I'm not sure if it's a lease or not but even cell tower II it's they have leases on the land and then they lease the equipment so even your equipment could be financed I think through a publicly traded real estate company okay I think that's essentially like adding superchargers to the asset-backed line it's a little tricky you have to when dealing with finance companies they will generally say what's the resale value of that in a worst-case scenario and there's like sort of tricky to say where who would resell it to and that I think tends to be their projection but generally I think a capital efficiency of supercharges is it's quite quite good and getting better so I work in the industry if you have any questions I'd love to alright thank you hi my name is Dennis McAvoy and I've been a happy model 3 and Model S owner since 2012 I believe I'm representative of the vast majority of Tesla owners were super happy with the company and the product and we think that the next car we're going to get is gonna be another Tesla but that's not what we read in the mainstream media you know if you were if that was your only source of information on Tesla you'd think it was shoddy quality cars that spontaneously combust and that the company is on the verge of bankruptcy and we know that's not true but this is not true it's not true but I think it's hurting test because I have intelligent friends that are holding off purchasing Tesla cars because of their concern about the future of the company [Applause] the company has done a fantastic job solving the big issues that confronted them in manufacturing and engineering and my question is what's the plan to put more energy behind the marketing communications and take this issue head-on so that the true great American success story gets told [Applause] no it's true true what you say it's it's it's very distressing it makes me sad but I'm not sure what yeah you know what to do about it we do provide a rebuttal but that is then you know typically buried it's like seven paragraphs down and if it's there at all but some of these things are just incredibly crazy you know it's at least ten times more likely for a gasoline car or a combustion engine car it's in the name I mean come on it has highly flammable fluid it's designed to burn and this there's about 200,000 gasoline car fires per year in the US alone and you know there it's extremely rare for otezla car to catch fire and if it does it it's it's just incredibly rare and it's used due to some extenuating circumstances it's very slow and and it's almost never harmful I mean what would you rather have like a gasoline-powered cell phone or a battery-powered cell phone it was like a no-brainer I know so put the same kind of energy towards solving this problem that you put towards solving the battery module production problem you could do it you could change the narrative well we're really trying our best but I am so at somewhat of a loss to to it's not like we don't respond or anything um I think a documentary yeah it's it's the most crazy disinformation campaign I've ever seen yeah [Applause] I'll just say I appreciate your optimism and your passion for the company and I think that is probably the best asset that all of you bring to the table and if you can share that with everybody you know and and and give them the personal experience that you've had and whatever way that you can that's really our best defense so please continue to do so it seems like you yeah safety especially I mean we it is a paramount first is like the absolute primary things to maximize the safety of the car so it's like and this bears out in the statistics so it's it's really hard to have a serious injury in a Tesla like it's not it's quite rare and you know when you do look at numbers like the nitsa probability of injury which is what you could get on the Internet the the causal help the lowest probability of injury of any car I've tested so like if it was possible to have a six-star we would have a six-star it's like it's literally is it's absurdly safe and yeah it's a that you know there's just a lot of forces that are kind of a raid against Tesla you know there's a lot of forces so okay sounds good well we'll give you the information and you can sip it spread it around I mean they're the the reason I sales a Goethe is really because of you guys and it's sort of customer testimonies and referral is the the key to our sales that that's why it's good so thanks Ilana my name is Steve I've been a shareholder since 2012 and I've owned your vehicle since 2013 and I've enjoyed both rides it's a bit of a roller coaster that's true but I actually enjoyed it coming in in 2012 okay yeah just to that last gentleman's comment it's obviously on your mind many people's minds so I'm just gonna sneak in a little suggestion you're right the constructive response is so so challenging and maybe one little opening would be there are some people such as Michael Bloomberg who is both obviously a Titan in the media industry and also very very publicly expresses his care about the environment perhaps not a debate but a discussion a joint discussion to talk about climate change public awareness I think you get the point at where I'm trying to go with it and how'd it be something public there might be other people I know last year Arianna Huffington expressed her concerns for your well-being sure I think your well-being at be best served if people I think really the biggest issue with the media and I shouldn't say issue the biggest challenge is Sir doesn't seem to be anybody in the media who's pointing out what other parties in the media are doing so effectively utterly false narratives receive a police escort to the public nobody is speaking up about it so that's why I suggest you know people like Bloomberg or Arianna Huffington sure that's a good idea yeah I mean weirdly with there's been quite off quite a few negative articles in in Bloomberg so but if perhaps talking to Michael Berg would be very helpful like I agree we need to take action here I think we'll definitely provide people with clear rebuttals of the disinformation that's a good idea because we've done it piecemeal but does not really like a page that just debunks the myths you know could you kind of have to put put it together from a number of comments that we've made over time but we could put it all together on one page and sort of debunk the myth that's gonna be pretty pretty good hello Ilan I'm John from Irvine and with seeing the model 3 being so successful and the solar facet of your business coming up I was wondering where you see Tesla is on their mission to accelerate the Adventist Anil transport and what hindrances or facilitators you see in the future in that mission well I think we've I think we've really helped convince the the order industry to move towards electrification you know when we first started out I mean I sort of like the you know the thick thick kind of there I mean I thought to be clear I've always felt like like electric cars and solar were were important from when ISM you know freshman in college and and I just always thought that they were that it would just happen because it's just obviously the right thing from a physics standpoint but this is not guaranteed and it's actually you know survive the weather III kind of traced Tesla back to 2003 with JB and I having lunch and El Segundo just with so I was in yeah yeah that was a good conversation well I mean I think we've made pretty amazing progress and Sunnite we didn't know we didn't exactly envision how this would unfold and exactly being here and standing here at least I didn't I thought we just for sure would fail you know like night but it needed to be done I mean it was it was clearly something that was worth doing even if the odds of you know becoming where we are today or even you know 10% of that or 1% of that we're slim it was still worth doing but it's it's pretty awesome to see Eevee's driving around you know on every road all over the place it's it's incredible but it's still 1% so we you know well it's rewarding and it's awesome to see what's where we've come there's still a long way to go so we can't I don't I feel mixed emotions that we shouldn't pat ourselves in the back too much definitely not but you know back in 2003 2004 there was people thought like electric cars with the stupidest thing ever and definitely not gonna work and and we're bad in every way and we're like it was like a like a milk float or something or like a golf cart and and like they would not like there would not look good or go far or go fast or you know just like there'd be just bad in every way and they kind of were you know that's like they generally were so the you know they like the number of times we so talk about the media situation today which is very negative but it's pretty much always been negative actually this is unchanged from from 2003 and I mean yeah I mean away bet you can go way back like 15 years and it's just like oh it tells us the dumbest thing ever or it's never gonna succeed and then like it's like well you know I do think there's a good chance we won't succeed but it's worth trying and and and and now the this I think almost every car company has announced electric cars and some have announced that all of their cars will go electric you know sometime in the next decade this is this is a good thing and and on the energy side to complete the picture I guess I would just briefly say 100 percent renewable grids were in a similar situation I would say in 2003 and now both Tesla and a number of other you know partners in this effort are succeeding and taking entire islands you know parts of nations 100% renewable and that that shows the the growth on that other key aspect of the mission and yeah that's been personally very rewarding and then for JB as well because in 2003 he was the TA of a class I was in talking all about he goes back a while yeah so exactly so solar and battery storage yeah that was also like laughed at pretty much so kind of is but but it's it's obviously the key to a sustainable future is I think a primarily solar obviously with wind and geothermal but things that are sustainable long-term and then you have to have battery storage because generally sustainable energy like the Sun it doesn't shine 24 hours day so you have to have batteries so like the three the three elements of sustainable energy future electric cars solar and battery storage and so we're trying to advance that as quickly as possible and then I think when when we show that it can be done than other companies try to do it as well and that's great I know I work in media relations so I'd love to help first Elan I just wanted to congratulate you on the Stephen Hawking medal for science communication my question for you is as a horse owner I'm wondering what the towing capacity for the truck sure I didn't mean to insult forces earlier mother also recall the it will it will if it's designed to meet or exceed an f-150 so if an f-150 can tow it then the Tosic pickup trucks reveal to do it thank you thank you so Ilan we're at about 90 minutes do you want to take one more question from each side yeah yeah a few more questions cuz we're high on my name is caleb Belson I recently got my model 3 and I'm happy it has hardware 3 in it so I watched the Investor day for autonomy and you talked a lot about the FSU chip the neural network we didn't talk much about the gap between navigate on autopilot today to the end of 2019 I was wondering if you could get out a little bit on where we're gonna go from now till December January February feature wise is that already running in your car is like the demo we're gonna cherry pick it or what gives you the confidence that feature complete not hands off but be gently is possible and what can you excite us a little bit about what that's gonna be like thank you yeah I mean I we're not drive like the latest development version of the software you know it it you know can take me from my house to the office but but not with but there are in there interventions at times so it doesn't perfectly deal with every intersection that you know or every turn and you know I think it's possible to but obviously you just like gain the system and just make it perfect for a particular route then that's just gonna work on that route and and and then if that rap changes or this construction then it won't work so it's very hard to come up with a general solution so when one reads about these other self-driving car companies the the issue is that they have very specific solutions but they're they're brittle they rely on very high-resolution maps a lot of lidar s a high-precision G really expensive of GPS and an inertial measurement and but it's it's but even then it's it's just not a general solution and if they go off the route that they're used to they don't they don't work so you know see we wonder when we release something we're releasing it to to a custom you know to five hundred thousand cars and and all over the world and so it has to be a general solution so so then we our progress may appear slower than it actually is relative to others that are developing self-driving technology but but in fact it I think it is quite a lot more advanced because any element that we release is a general solution there's also like a plateau that you will reach taking yeah the alternative approach that just having experienced with the team a lot of the work ahead of the investor day like the trajectory is crazy especially with the advanced computing capability that we have so I that's my personal comment on it I guess yeah we learned a lot of you know in terms of like what would you retrain the neural net to do and then once we discover okay we need to train it to we need a net that's gonna like really effectively recognize curves for example and previously we trained the net on free space so it's like now free space just anything you can drive on that's not going to for the car but this is not comfortable if you're just driving on like dirt hey you know where the car just drives over the grass and like technically yes but this is gonna be disturbing so so we like Road edge and curb are two training that step we are developing right now to say this is independent of drivable free space so you want to know what drive falls free space is for an emergency so if you need to go on the shoulder of the road to avoid something then okay drive free space is important but then you also need to know where does where does true road space end because it's undesirable to go past true road space and then for especially for parking lots and tight corners just recognizing curves these like little details they make a big they're very important so but I mean I have most of us working and like made the development version that's on my car actually to dev ranches one for enhanced summon and one for full self-driving and two different cars but it would not be good to release that to the general public I think hi ylan hi J be Tesla team on Tesla board a huge fan best wishes and lots of love from India oh thank you yes you guys have a great team and you guys are the problem solvers thanks for persevering all the way through through the financial intellectual business problems and alone oh you are such a visionary and a leader thank you so much it puts a smile on my face when I hear AG wine short well point out Tamar says it's the fixer-upper of a planet yeah values into your employees and every fanboy out there thank you so much for all that time to ask a question what do you ask this team which has put a roadster in up in freakin space right so actually I'm out of questions on that part so then I thought to myself No and I always felt bad for Nikola Tesla who has been a great inventor of our time and for a genius that has been he was always constrained by funds to run his experiments and as a result were lost so much more did history repeat itself I don't know maybe but it's up to us not to repeat the same mistakes and find this Tesla this time to make impossible a reality as Uncle Ben rightly said with great power comes great responsibility people and organizations with excellent balance sheets you have the power to invest and make a difference and hence you have the responsibility to do so it's time big companies unite when it comes to welfare of the planet and sustainability of the generations to come and speaking of great companies who knows better than Berkshire Hathaway of picking a great company as the market paradigm has now shifted from buying profitable companies to buying companies who are innovating and changing the world for the better I request a Berkshire management to consider investing in Tesla for the long term why because you want insurance they have it you want automobiles they have it electrification they have it utility they have at robotics is their right what do you want they have it so and because there has never been a better opportunity for the world and there has never been a better buy price for Tesla in 2019 than right now lastly congratulations to all the Tesla shareholders in advance who sooner or later gonna be part owners of this trillion multi trillion-dollar behemoth and to Elon and team thank you so very much from all of us and the future generations who will want to thank you and your team for all the great work you did you do on you will do cheers thanks [Applause] much appreciated [Applause] I thought that question may be asked so we I I you know I hope I hope soon there's the regulatory by or like the rules for importing to India kind of complicated or yeah we definitely want to come to India so but they're they're like complicated rules around like the tariffs for importing and then what you're allowed to do as for for sales and service and you know we're we're currently we're currently able to sell as many cars as we can make and so the adding additional complexity is not required right now but I think we really want to really want to come to India as soon as we as soon as we can so I I think I'll be really surprised if we're not there by next year I think that's at least next year I think yeah [Applause] hello good afternoon my name is Jennifer bear and I'm here on behalf of PETA People for the Ethical steering wheel you got it so during last year's annual shareholder meeting you assured us that the model by quote would not have any leather in it including in the steering wheel if it does have a steering wheel end quote we have tried confirming this privately but have been met with silence and the website does not specify it's also our understanding that all current tesla models come standard with a leather steering wheel and need to be special ordered to be vegan that's true as you know the United Nations reports that animal agriculture which includes the leather industry is responsible for more greenhouse gas emissions than all of the world's transportation combined the Higgin Dex has found that in terms of water scarcity climate change okay I totally agree the actually asked this question of my team earlier this week and I believe we we're close to having a non heated steering wheel that's not leather there are some challenges when we when we heat the non leather material and also how well it wears over time so there's like it actually really has needs to be very Hardy because there's a lot of like you have a lot of basically oil and sweat and stuff on our hands it gets kind of nasty if you don't have like the right surface treatments on the on the material so it's an easier proposition to slow it for seats than it is for the steering wheel so it's actually a remarkable amount of effort to solve for the steering wheel but it is a thing that we are we're working on and hope to release soon that's fantastic so can you confirm the model yes I can it will and that all of tesla's models will be free of animal products by next year's shareholder meeting I'm not you know there might be the tiniest bit left I'm not sure but model why model three okay I think I'm confident that we have a lot of things to solve but I think we can for sure the the motto I and the model 3 soon and you can also special order for the S&X thank you very much thank you hi I'm Dan I just have a quick question and that is you've expressed your frustration I think we're all frustrated with the media narrative around Tesla and you've expressed your frustration and in refuting some of the false information out there you know there's another alternative that which is to proactively advertise and my question to you is are there any thoughts to revisiting the advertising decision thank you sure um well you know I was saying like currently we are selling more cars than we can make so it is not the net spending money on advertising would make things worse financially and they're sure it would probably increase demand but but we're made we're selling more cars than we can make so that's not a not it's not a thing that's necessary right now and we're trying to make as many cars as possible so yeah I you know I think like advertising like really like III I have not I've had an aversion to advertising because that this is like it's just too much trickery in advertising you know there's just like it was a lot of false association was like they'll have like a bad product and then you know put it in a nice environment what's good looking at people and like trick you into buying it is like common and you know and there's some of the advertising can be quite strident so it just tends to be sort of bad so there's like yeah her taxiing for that reason but we could have advertising as information refute some of these issues it's tricky though because if you have an ad that says look our cars don't catch on fire this is BS then they like people I think are you a car's actually catching on fire are like what's what's going on because it's so much trickery in advertising like maybe the opposite thing is happening why I wouldn't say that we're against advertising forever yeah but it hasn't been necessary thus far and yeah so yeah sure that could be cool absolutely so yep well definitely give us some thought there's some good suggestions thank you I'll do like one last question last question yeah let's pressure hi everyone I'm Lux feel a day I have a really exciting question will Tesla make a quiet cars and if so when do you like to go like a quad bike or something uh where do we requite car aquatic car is in but a quarter note or submarine no are actually okay do you mean a car that can go in the water basically on or under or both the water it's funny should mention that we do actually have a design for a submarine car like the one from the spiral of me the sort of the Lotus that turns into a Saab and I actually weird I thought that was like the coolest thing I'd seen movie so I actually actually have that but the ones from the movie now that one cannot actually transform because it has like fins where the wheels are gonna work but if you make it a bit bigger then you can actually have a submarine car it's like technically possible I think the market for this will be small so it's movin enthusiastic so the bit we actually do do have a design for it submarine car like that would be pretty difficult it would not be it read a bit of a distraction I think so but maybe we'll make one as a show car at some point then we cut every really fun so thank you thanks [Applause] Thanks [Applause]

Channel: Tesla

Views: 870,148

Keywords: tesla, model s, model x, model 3, powerwall, electric car, elon musk, ludicrous, battery

Id: Va5i42D13cI

Length: 114min 26sec (6866 seconds)

Published: Tue Jun 11 2019

Reddit Comments

[u/strontal]

Thank god we can finally put to rest these ridiculous requests for putting a receiver on a car

[u/Nergaal]

So people in dense cities with shitty Comcast will not solve their shitty ISP problem. Guys in sparsely populated areas with low cable access are going to use this.

[u/theorchidrain]

Starlink should serve rural communities, and the FCC should stop giving money to the monopoly telcos for rural internet access and give it to Starlink instead.

[u/Radial_Velocity]

Just curious, if the first iteration of Starlink's 12,000 satellites does really well...

Then theoretically, how many more satellites can Starlink keep adding beyond that, to the constellation network?

I mean is 50,000 reasonable? 100,000? A million? 10 million!?

(And of course, as the network expands beyond the original 12,000, the next generation future satellites will continue to become ever more advanced and capable with each iteration.)

[u/Decronym]

Acronyms, initialisms, abbreviations, contractions, and other phrases which expand to something larger, that I've seen in this thread:

Fewer Letters	More Letters
FCC	Federal Communications Commission
	(Iron/steel) Face-Centered Cubic crystalline structure
Isp	Specific impulse (as explained by Scott Manley on YouTube)

Jargon	Definition
Starlink	SpaceX's world-wide satellite broadband constellation

---

^{Decronym is a community product of r/SpaceX, implemented by request
3 acronyms in this thread; the most compressed thread commented on today has 5 acronyms.
[Thread #3324 for this sub, first seen 12th Jun 2019, 16:01] [FAQ] [Full list] [Contact] [Source code]}