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7 Top Takeaways from the Tesla Annual General Meeting



12th June 2019 by Matt Pressman


Originally published on EVANNEX .
By Matt Pressman

Who distracts your attention from this remarkable? American success story? Lurking in the FUD some alligators. Even Elon admitted, "It's the craziest disinformation campaign I've ever seen."

Nevertheless, the truth came to light last night when Tesla held its annual shareholder meeting. In 201

9 Musk delivered the company's "State of the Union". Do not concentrate on the frivolous food. Yes, Tesla will produce vegan steering wheels. No, Elon is not 007 (although he has a submarine car). Maybe he is a Bond villain, though. In any case, here's what you really need to know

1. No, demand is not a problem

"I want to make it clear that there is no demand problem," announced Musk. In fact, he said Tesla had "shot a good shot in every record level in a record quarter." He noted that the Model 3 surpasses all of its premium sedan competitors – similarly expensive models from Mercedes, BMW, Audi and Lexus – combined . And the market it draws from is actually far larger than many originally thought. In fact, 63% of model 3 purchases come from non-premium cars.

Tesla attracts not only buyers of German luxury brands, but also decreases the sales of the general car market. (Source: Tesla )

2. The Tesla Pickup Will Be a Cyberpunk Truck

The unveiling of the Tesla pickup is (hopefully) scheduled for later this summer. Musk noted that Tesla's pickup will be "more functional" than a Ford F-150 with better performance than a Porsche 911. "I think it's the coolest car I've ever seen," Musk said. The truck looks "cyberpunk" as if it were from a "science fiction movie". He added, "We try to create something new, and it's not just a copy of the form factor of everything else."

3. Investor Day for Battery and Powertrain Comes

Musk says he is planning an investor day for the battery and powertrain later this year – possibly this summer. Musk found that Model 3, Model S and Model X outperform all non-Tesla electric vehicles in terms of power efficiency, measured in miles per kWh. In addition, there is now no in 2019 any other automaker capable of achieving the all-electric range of Tesla's 2012 Model S. And yes, there's even a Silicon Valley automaker's 400-mile range car in the making.

Tesla's 7-year battery technology is superior to today's Big Auto electric vehicles. (Source: Tesla )

4. Tesla Might Go Mining

While Tesla builds its gigafactories in Nevada, China and (soon) in Europe, the company may start mining some of the minerals it needs to continue its expansion. "We will do everything we can to ensure that we can scale at the fastest possible speed," Musk said. He praised the two key points for investors to consider, the company's own initiative and the ability to lower battery costs.

5 Model Y could be a game changer

According to Musk, the company's smaller SUV, the Model Y, could go into production "towards the end of next year" and have a higher demand than the Model 3, S and X combined . He also mentioned that the Model Y (despite the larger form factor of the car) could actually have a lower drag coefficient than the Model 3.

It turns out that Tesla's largest car market segment is still outstanding. (Source: Tesla )

6. Tesla Makes an "Acquisition"

During the first quarter of Tesla, Musk stated that the company plans to offer a proprietary insurance offering which is "superior to anything else" due to the vast amount of data Tesla collects. This in-house insurance product may prove to be more attractive (and more specifically) as a third-party insurer. During the Annual General Meeting, Musk said that Tesla will make a "small acquisition that we must complete" before taking on its own insurance business.

. 7 Purchasing a gasoline car no longer makes sense

Musk found that countries around the world are setting deadlines for banning cars powered by gas and diesel. "If you buy a gasoline car that does not drive itself, it's like riding and phoning," he said. Looking at resale values ​​and looking to the future, "It's basically financially crazy to buy anything but an electric car that can be upgraded to full autonomy," he added.


Tags: Elon Musk, EV Sales, Tesla, Tesla Annual General Meetings, Tesla Model 3, Tesla Model S, Tesla Model X, Tesla Model Y, Tesla Sales, Tesla Shareholders [19659026] About the Author

Matt Pressman is all about Tesla. He is a TSLA investor, has pre-ordered the Model 3 and likes to drive the company cars Model S and Model X of the family. As co-founder of EVANNEX, a family-owned company specializing in Tesla accessories for the aftermarket, he was editor of the Electric Vehicle University (EVU) and Owning Model S and Getting Ready for Model 3. He writes daily about Tesla and you can follow his work on the EVANNEX blog.




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