Tesla Shareholder Meeting in 18 Minutes (Supercut)

uh well we've got a lot of uh great news to talk about today the the Tesla team has done an incredible job of executing over the past year and we have many exciting years ahead of us Tesla master plan part three which admittedly was you know quite technical we wanted to go into a lot of technical depth um so uh you know it was clear that they were what we were saying was not just um we're not merely assertions but that they were backed up with physics and with real data that it's realistic um and and with the mass plan part three we want to basically the goal is to give people hope realistic hope um and maybe hopes even the wrong word but simply to say that that there is a path to a fully sustainable uh global economy that we are on that path that we are accelerating that path and that's and that so long as we don't get complacent about it it will happen so I'll I'll just I'll kind of rush through a recap of the mass plan part three but the you know some of the Salient points are that it will actually take less energy to go to to go sustainable not more energy uh it's it's actually more and some of these things may sound very obvious but it's it's more energy efficient to go sustainable not less there's and and there's less mining that is required for sustainable any energy economy not more also very important I mean I I don't want to go off on a tangent too much on that front but if it's very important to appreciate that uh most of our battery packs um are iron-based um a majority of our battery packs are iron based not Cobalt um and the the and then our other battery packs are nickel based and not Cobalt the nickel batteries use a little bit of cobalt as a binder um but only a tiny amount in contrast your phones all use 100 Cobalt but even for the small amount of cobalt that we do use we will make sure six weeks is Sunday that we're that no child labor is being exploited obviously we're a company that cares a lot about doing the right thing and we don't want to delude ourselves or dilute anyone else so yeah okay actually in a nutshell the way to think about sustainability is the the faster we can make uh battery packs the faster we can move to a sustainable energy economy that's the fundamental limiting factor when you look at the emissions over time electric vehicles absolutely win by a long shot and as as we're seeing the the the cost uh at the emissions required to produce an electric vehicle are dropping rapidly over time and and once again the uh the top two most desired companies for engineers um on Earth where SpaceX and Tesla we're also excited to announce our next-gen Drive Unit um which is a big reduction in silicon carbide it's half the factory space uh notably there are zero Rare Earth elements required so for the first time in I think over 100 years we're actually going to change from 12 volt uh voltage of you know outside of the drivetrain to a 48 volt architecture and to First approximation that that means we need only about a quarter as much copper for uh in the in the car as would be needed for a 12 volt battery so that's a big deal because people are often worried about you know is there enough copper yes there is and FSD beta is growing uh hyper exponentially so that that chart is going to look like a wall basically there's really just one last piece of of the system that needs to be a neural net which is the the planning and Control Function um and and so we expect to have that last piece become neural net so it'll be end to end from a video into control out as a neural net the thing the thing to appreciate is it's not that uh full self-driving will be as good as a person it will be much much better like a lot like over time and uh 10 times more it's 10 times safer than a person it's not even going to be a contest frankly and I think some people realize that I think you guys probably realize it but uh being able to do a software update and have several million cars suddenly go from manual driving to autonomous uh I think will be the single biggest uh asset value increase in history I'm actually surprised that so few people uh realize this or maybe they just don't believe it it's real um but but it is so this is this is really an insanely big deal uh we're also the the largest uh EV maker in the world um and while at the same time being the highest margin uh of any car maker in the world and now making electric vehicles profitably is is hard as illustrated by the difficulty of our competitors a number of a number of our competitors are making EVS at a significant loss so but we are not we are actually making EVs profitably and almost no one else is and as you can see our free cash flow per year has been increasing steadily so I I want to make sure that this is not just the good news parade it's important to to understand that no company is immune to the macroeconomic environment but that said the it won't be Darkness uh forever I expect probably a year of difficulty uh globally for everyone um and then my my best guess is that the global economy turns around uh in roughly 12 months um and and then Tesla will be in an extremely good position so anyone who is a long-term investor I think will do extremely well and um here I want to give a big shout out to the Tesla internal software uh Team this is all uh internally written Tesla software and I think there's almost no companies in the world can do this because they do not have uh a very talented internal software team so they're generally reliant on third-party enterprise resource planning software so but Tesla is not this this is this is a hidden strength of the company um that often doesn't get a lot of attention but is incredibly powerful so once again I'd like to thank them for their work and uh as predicted um we are highly confident that model y will be the number one best-selling car on Earth this year Tesla cars are actually the the safest cars in the world we put um immense effort into vehicle safety and we keep updating the safety so we keep improving the automatic emergency braking system just with a software update um oh yeah so and then um while lots of cars will say they've got like you know five stars or or whatever um uh there's there's Nuance to that um when we do did the European end cap uh sort of active safety tests uh we got the highest scores that they've ever seen and then it's worth noting things like the total cost of ownership of a model 3 is now comparable to that of a Toyota Toyota Corolla uh going to mega pack um because this is a stationary storage is an important part of solving the sustainable energy problem um and to make the Tesla mega pack is now more competitive than a natural gas speaker plant so we have very strong demand for the Tesla mega pack um and uh we're gonna make a lot of them so um and a while back I predicted that the Tesla stationary battery pack business would actually grow faster than the automotive side of things and that's exactly what has happened uh you can see it's it's an it's an exponential curve uh growing at a rate that that is even faster than our vehicle sales we're expanding gigafactory Nevada um for the Tesla semi-production line and for the 4680 in in-house cell production so that this is um so we're aiming for 40 gigawatt hours a year both in California and in China but I think um long term this will be uh much much greater than this I mean I would say I wouldn't be surprised if long term uh the stationary battery pack uh activity went uh well in excess of 500 gigawatt hours per year so the the demand is like quite quasi infinite here as we look ahead to tackle the what we see as the the choke points in the supply chain one of them is uh lithium refining it's not that we wish to take on extra problems but since nobody else was doing it we felt we had to do this and so uh we've just Broken Ground on lithium Refinery and Corpus Christi which will be um do more lithium refining than I think probably everything outside of China Andrew signed a deal for our next gigafactory and in Mexico Giga Mexico uh and I I think that's going to be a fantastic Factory so uh yeah we're we're laying the groundwork for um ultimately getting to 20 million Vehicles a year so cyber truck is a hard car to make um it's because it's a such a radically new design it actually you can't just use conventional methods of manufacturing we had to invent uh a whole new set of manufacturing techniques in order to build an exoskeleton based car instead of an endoskeleton based car so it's it's extremely non-trivial to to build the Cyber truck um but we're making good progress on that we have the um so so yes it's Uh I that that's the the thing I when I um in the factory I I tour the Cyber Truck Line to see how we're doing there and um and uh sorry for the delay but we're finally going to start delivering production cyber trucks later this year and I think the product if anything is better than expectations so and you know people always want to know what our next product is [Applause] um but this is not the time to we obviously need to have a you know a proper dedicated product launch um I I just want to emphasize that we are actually building a new product we are actually designing a new product uh we're not sitting on our hands here um so uh there are two new products that I think you will be very excited about and both the design of the products and the manufacturing techniques are Head and Shoulders above anything else that is present in industry if I were to guess I I would say of these these two new products just these two new products alone I I would say there's we will probably make obviously this is just you know elon's guess um so you know don't sue me um but uh I I you know elon's guess is that um that that will probably make in excess of five million units a year of these two models combined so foreign [Applause] [Music] by the way [Music] [Music] thank you [Applause] but I think the thing um most notable is if you look at the difference between the last time we showed Optimus and and this was a video that was taken basically yesterday um and the Optimus team was up all night uh making this video um the Optimus team has done an incredible job um so just yeah and it's uh the the the motors the controllers the electronics and everything you see in the Optimus robot is a tesla-designed uh system so this is we actually tried to find um Drive actuators and and whatnot that that were off the shelf we we found that there weren't any um in order to make um and and an effective uh humanoid robot you actually have to design the motors and gearboxes and the electronics from scratch because it's a very different application from anything else that exists um so we took our world-class motor and Power Electronics team and uh and said okay we need to design several um uh actuators that are that don't exist in the world um and they did so Optimus is is working quite well and then for full self-driving as for self-driving gets closer and closer to generalized real world AI that same software is transferable to a human right robot just like um you know we you know humans can obviously walk around with their arms and legs but but we can drive a car fly a plane uh steer a boat uh ride a horse um if you have a generalized understanding or if you have generalized real world AI which is what we are developing for full self-driving it can be transferred to basically anything um and um so so optimists will use the same FSE computer as as the car and um The Optimist stuff is is um I think somewhat somewhat extremely underrated because that people just cannot comprehend the the the consequences now obviously we need to make sure that we don't have a Terminator scenario that's very important uh it's all fun and games and until Terminator shows up um but uh if you say like if you have had a uh generalized um humanoid robot uh what would be the effective ratio of humanoid robots to humans because I think basically everyone would want one and and maybe people would want more than one which means the actual demand for for something like Optimus if it really works um which it will uh is uh I don't know I mean 10 billion units it's it's some crazy number um it might be 20 billion units If the ratio is say two to one on people you know humanoid robots versus people it might actually be it's not it's some very big number is what I'm saying um and a number of vastly in excess of the number of cars um so my prediction is that Tesla's long-term value will be a majority of long-term value will be optimists and that prediction I'm very confident of so anyway yeah that's that's it so um yeah

Channel: Tesla Daily

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Keywords: Tesla, tsla, elon musk, elon musk tesla, tesla stock, tsla stock, tesla news, tesla analysis, investing, stock market, Tesla Bot, cybertruck, Tesla shareholder meeting 2023, cyber round up, new tesla model, tesla full self driving, tesla fsd, tesla safety, tesla energy, tesla demand, tesla profitability, tesla competition, tesla giga factories, giga mexico, giga texas, tesla scale, tesla 20 million

Id: D_8WShgZLQM

Length: 18min 2sec (1082 seconds)

Published: Wed May 17 2023