Tesla Shareholders' Meeting: Musk denies rumors of resigning and must deliver Cybertruck within the year

Cailian News Agency, May 17th (Editor Zhao Hao)On Tuesday (May 16th) local time, electric vehicle leader Tesla held a shareholders' meeting. CEO Elon Musk predicted that the economy would rebound in 12 months and promised to deliver the electric pickup truck Cybertruck later this year.

Automotive business

Regarding this "difficult to produce" model for a long time, Musk expressed regret for some manufacturing challenges. "I am sorry for the delay caused, and we will eventually start delivering the mass production Cyberrack later this year." He added that this model will become a vehicle that will be driven frequently in the future.

Musk stated that as long as Tesla comprehensively increases the production of Cybertruck, it should be able to produce 250000 to 500000 vehicles per year, and "we will produce as many as people want to buy." However, due to the new manufacturing method adopted by Cybertruck, the selling price will correspondingly be higher.

Musk expects a challenging economic environment to continue in the next 12 months, with many companies going bankrupt. But he believes that the economy will recover after that, and Tesla will also be in a favorable position.

He also predicted that the ModelY is expected to become the world's best-selling car by 2023. In addition, Tesla is developing two new models, and he speculates that the annual production of these two models will exceed 5 million vehicles.

Musk stated that Tesla is expected to start producing Roadster sports cars next year. When asked if Tesla has any development plans for RVs or campers, Musk stated that he does not have such plans yet, but Cyberrack can be converted into RVs or campers.

Musk also announced that Tesla plans to produce a new type of drive unit that uses less silicon carbide compared to previous ones and does not contain rare earth elements; In addition, the car will also switch to a new low-voltage architecture, which will reduce the demand for copper. It should be noted that these plans were already mentioned during Tesla Investor Day in early March of this year.

Automotive business

Personnel, Optimus Prime, Twitter, etc

Prior to the shareholders' meeting, the shareholders voted to allow former Chief Technology Officer JB Straubel to join Tesla's board of directors as an independent director.

Currently, JBStraubel is the CEO of battery recycling company RedwoodMaterials, which reached a multi billion dollar deal with Tesla supplier Panasonic last year and also has business dealings with Tesla.

Musk and JBStraubel

A participant asked about rumors of "considering resigning as Tesla CEO," and Musk responded that "it's not the case" and had no intention of doing so.

At the beginning of the shareholder meeting, Musk also promised to conduct a third-party audit of the cobalt supply chain to ensure that Tesla's cobalt suppliers did not use child labor. This decision was welcomed by on-site investors.

Musk also expressed optimism about the humanoid robot Optimus, believing that a significant portion of Tesla's long-term value will ultimately come from this business.

When it comes to artificial intelligence, Musk stated that under effective regulation, Tesla will play an important role in AI (Artificial Intelligence) and AGI (General Artificial Intelligence). He also claimed that Tesla possesses the world's most advanced artificial intelligence technology.

Some institutional investors are concerned that Musk, who already holds multiple positions, may still have to manage the social media platform Twitter, which may prevent him from performing at his best on Tesla. Musk stated that this is a "short-term distraction" and expects to spend less time on Twitter than in the past six months.

Musk also explained that in order to ensure Twitter's continued survival, he must undergo some important "open heart surgery" on it. He was also pleased that former NBC Global Advertising Director Linda Yaccarino could join Twitter as the new CEO. "Twitter is currently in a stable state

Another participant asked Musk if he would reconsider changing Tesla's long-term stance on traditional advertising. He said, "We will try to do some advertising and see how it works