Watch Elon Musk at 2021 Tesla Shareholder Meeting (full presentation)

[Applause] all right welcome to the annual shareholder meeting um coming to you live from austin texas so um we've had a fantastic year uh thanks to the great work of the tesla team um i'd just like to start off by just thanking the tesla team for the incredible work over the past year to get where we are well then so we have uh record vehicle deliveries as we've already reported this but you can see that there's a pretty um i mean i think this might be the fastest that any large manufactured object has grown like um yeah certainly one of the fastest perhaps the fastest um and um it looks like we we have a good chance of maintaining that into the future uh really dependent on um supplier challenges so if basically if we can get the chips we can do it um so uh hopefully this chip shortage will alleviate soon but i feel confident of being able to maintain something like this at least above 50 for quite a while the model 3 became the best-selling premium vehicle uh globally so if any premium vehicle but i i mean i almost got arrested at one point for claiming that we'd do 5000 a week literally laughing now anyway this is great um we think the model y will be uh the best-selling vehicle of uh any kind globally so i think it will exceed the model 3. um i think we've got a good chance of it being the best-selling vehicle by revenue next year and then i think quite likely to be the best-selling vehicle uh in just of any kind numerically in in 2003 and 2023. so basically we need we need uh awesome to get online and berlin to get online and reach volume production and then i think that's going to happen um in terms of a free cash flow generation um obviously we had uh some tough years uh back then um things were looking a little dicey to say the least in 2017 and 2018 don't want to go back there again but uh we got through that and now things are looking really good so i think we'll see continued strong cash flow generation and uh especially as you multiply unit volume times autonomy uh and increased efficiency in the factories um because i think over time you'll see all manufacturers will make electric vehicles and eventually all manufacturers will make autonomous vehicles um and we i think and tesla's open to licensing autonomy because i think autonomy will be uh such a significant lifesaver and preventer of injuries that it is not a technology we want to keep to ourselves so um i think it will be morally right to to license it to other manufacturers if they would like to to use it so [Applause] um and of course uh we made a lot of progress on on cost reduction um and uh so despite our average selling price actually going down significantly because with the introduction of the model 3 and model y these were much lower priced cars uh we've managed to still do uh decently well on on gross margin so this is um you know getting the average price down and and gross margin up is very difficult but we've managed to to do that so yeah it's good um our goal really is to make the cars as affordable as possible um we are seeing significant cost pressure in our supply chain um and uh so we've had to increase um vehicle prices uh at least temporarily but we do hope to actually reduce the prices over time and make them more affordable uh so um yeah unfortunately we've just expedited like i mean the sheer amount of money we're spending on um flying parts around the world is is just not not great but hopefully temporary so and we need a lot of batteries uh hence a battery day that's what this shirt means very obtuse um but we are gonna need a lot of batteries this is gonna be a combination of batteries from our suppliers and in supplier discussions um you know some of our suppliers have just asked me outright are we going to just you know put them out of business or something i'm like not at all as many sales as you want to make and supply to us at an affordable price we will buy no limit i'm like oh okay so like did you want to have yeah increased by 100 sounds good to me um so the basic plan is uh we're really going to order a lot of we have ordered a lot of batteries from suppliers basically telling suppliers literally uh go go as much as you can make will take um and uh and we'll we'll prioritize uh batteries for vehicles but then use any excess cells that we have in the power wall and mega pack because over time we think the demand for stationary storage is going to be at least as high as the demand for vehicles so sustainable energy primarily solar and wind is intermittent and so the wind doesn't blow all the time the sun doesn't shine all the time obviously and so you need batteries to buffer that power so the fundamental pillars of a sustainable energy future are basically solar and wind those are the primary stationary batteries and electric transport and if you have those three then you have a sustainable energy future as long as the sun is shining you know so sometimes people ask me about fusion and i like it as an idea and by the way i think it's totally doable um but uh there's a giant fusion reactor in the sky that shows up every morning and zero maintenance um so i'm like sounds like a good deal you know uh or just catch a little bit at sunlight and power earth um a shockingly small amount of land is needed to power earth it's like you know a couple hundred miles uh by a couple hundred miles of solar panels will power the entire united states so it's like okay it's not that hard um and then i believe we calculated you only needed one square mile of batteries so you may think like wow a lot of batteries one square mile of batteries it's not that crazy so anyway so we've got we've got a plan to reduce the cost per kilowatt hour of batteries and um and our suppliers you know have similar plans so this is um really supplemental to our suppliers we'll make cells they'll make sells we'll use them all um the the fundamental good of tesla i think is um by how many years did we accelerate sustainable energy this is the fundamental i think uh way to think of the the value of tesla and so if we are able to accelerate sustainable energy by more years that is good um hence the need to grow quickly we've got three new factories jaeger shanghai has done an incredible job and changing our now exceeds fremont in production so actually i'd like to just give a special hand to the tesla china team [Applause] so it's the best quality lowest cost and uh and also low drama so it's great um and um that said we are um continuing to expand our fremont operations um and expect to uh hopefully increase fremont output by 50 so and that's still where we make all model s and x's are made in fremont um but uh it kind of makes sense especially for the high volume vehicles to have production that's at least on the continent where the consumers are um otherwise it's just it's also not good for the environmentally shipping cars you know several thousand miles so the basic idea is have the high volume vehicles be where the customers are approximately at least and then also great progress with building giga texas which is where we are right now and giga berlin brandenburg so just hand for those teams as well [Applause] and and the these factories will have cell production in them as well so this will be really kind of raw materials in cars out so really really big um yeah i mean these things will be in like units of pentagon basically uh let's see so impact report um there's a lot of uh i think interesting stuff in our impact report um we go into i think quite a lot of detail on um all things we're doing um and you know a tesla is is certainly a company that uh tries very hard to do the right thing in all respects we try very hard to do the right thing in all respects we don't always succeed but if you're looking for a company where you say is that company really trying to do the right thing that is tesla okay we really try okay i mean that's there anyway so um so as i was mentioning we've got the you know three parts of a sustainable energy future solar and wind but i think primarily solar will be the the main source of energy of sustainable energy and energy in general and then you need to store that energy with a stationary battery packs and then you need electric vehicles and electric airplanes and boats and whatnot so yeah great um yeah and then the average life cycle missions in the u.s uh this is only going to get better as as we move to a sustainable energy grid um and electric vehicles then obviously we move to a fully sustainable energy economy which is where we want to get to as quickly as possible the sooner the better and can there be a carbon tax i mean what the hell you know um so people someone said like or carbon tax that would benefit tesla i'm like yeah but it would it would hurt spacex so how about the carbon tax it's really needed so um see battery materials are definitely incyclable button gas is not co2 is an extremely stable molecule um mars atmosphere has been primarily co2 for billions of years uh it's extremely stable um so sometimes people worry about methane uh do not worry too much about methane methane quickly breaks down into co2 methane is not a stable molecule co2 is extremely stable so and of course you can recycle battery materials so you can think of batteries as essentially high-grade ore so you can either get your lithium and your nickel and the various constituents or the battery from uh rocks or from batteries it's much better to get them from batteries so uh batteries are basically high grade ore and um tesla's already started recycling and their electric companies are going to do recycling because it basically pays to do recycling for batteries so um we're seeing you know increased extreme weather events and there's like wildfires and here in austin there was a massive snowstorm that turned the power off i was actually in austin for that uh snowstorm in a house with no electric no lights no power no heating no internet couldn't actually even get to a food store if you could get to a food store there's no food there that's went on for several days um however if we had the solar plus power wall uh the car would have had lights and electricity and actually had a starlink internet you'd have internet too so um all the things you need for prepper basically doomsday comes yeah it could be helpful um so in factory safety we've done we've made uh huge improvements on on factory safety so uh we're now 18 percent better than the industry average so this is a this is great um it's always tough with safety as you ran for production lines and as you start up factories but then as as once it's in steady state then the injury is naturally naturally declined because people get used to it and you iron out the issues and so we're seeing um excellent factory safety uh in tesla and our goal is to have the safest factory on earth and then ai day i think it was important to change the fundamental perception of of tesla because people do they sort of think of tesla as a car company and yes we made cars um but but but the ai portion part of tesla was not well understood um i tesla is as much a software company as it is a hardware company and um and and we also do the the chips uh so we designed the uh the full self driving inference computer we're designing a training computer that's going to be able to we think be the most efficient neural net training computer in the world by far and and we're seeing a tremendous response so daily applicants by roll um as you can see it's basically uh you know on the y-axis there and then after ai day that's the ai applicants increase dramatically so i thought that was a very successful day team did a great job and yeah ai is going to be a very important part of the future self-driving is obviously one of the functions and i also have mixed thoughts about ai and we've got to watch out for ai being a danger but it's happening either way so i guess if we help do it we can try our best to make sure it is a positive you know good good ai hopefully um yeah and then uh i'm excited to announce that we're moving our headquarters to austin texas [Applause] so um just to be clear though we will be continuing to expand our activities in california so this is not a matter of of sort of tesla leaving california um as i said we're our intention is to actually increase output uh from fremont and from kicking nevada by 50 percent so but we're just we're just hitting the sides of the bowl you know um i mean if you go to our fremont factory it is jammed i mean it jam it's like whoa and when we first went in there it was it was like you know well we're like a kid in his parents shoes it was ridiculous like tiny s and giant factory and now we're like spamming a can here like how do we put more stuff um and and it's it it's it's tough for people to afford houses and a lot of people have to come in from far away and so it's uh we'll take you're taking it as far as as possible but it's um there's a limit to how how big you can scale in in the bay area so um here um in austin and our you know factories like five minutes from the airport 15 minutes from downtown um and uh we're going to create an ecological paradise here on the car because we're around on the collar of colorado river it's going to be great so temperature size gain continuing to expand in california significantly but but even more so uh here in texas so

Channel: CNET Highlights

Views: 599,862

Keywords: elon musk, tesla, investor day, tesla investor day, shareholder meeting, 2021 tesla shareholder meeting

Id: 5axNR8R7XI8

Length: 18min 27sec (1107 seconds)

Published: Thu Oct 07 2021

Reddit Comments

[u/dcmix5]

Doesn't look high this time. Right shoulder ticking and facial tics aren't that present either.

[u/PFG123456789]

I keep reading that the Stans think Musk said they were expanding capacity in Fremont by 50%?

Listen to the last couple of minutes. He’s talking about Nevada and saying the complete opposite about Fremont.

Packed to the gills, no room, too expensive.

[u/buy_denim_calls]

https://i.imgur.com/PiuyJ4t.png

Found a way to sneak 69 into the presentation, well done Elon.