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Top News from Tesla’s Shareholder Meeting

In this article, I describe and explain the most important news coming from Tesla’s shareholder meeting before the widely anticipated battery day.
Posted: September 22, 2020 - 5:41PM
Author: Paul Fosse


Tesla Shareholder Meeting Parking Lot

All the official business went about as planned. The all the proposals but one were passed.

Elon Musk then gave a business review of the previous year.

  1. The Shanghai plant was built in 15 months and he expects to expand considerably to eventually build more than a million vehicles a year. Instead of clapping, the audience honks when Elon says something they like.
  2. The growth of deliveries over the last 4 quarters is dramatically better than auto automakers. Their sales are way down and Tesla sales are way up.
  3. A couple years ago we were stuck where the improvements slowed. Now they label in 3D video instead of labeling each picture individually, so learning progresses much more quickly.
  4. It is 10 to 100 times tougher make a car in volume efficiently than making a prototype. It is important to consider not just the software in the car, but also the manufacturing software.

It's clear that Elon wanted to save all the exciting news for the battery presentations. Now there is a short break before the battery day presentation. Stay tuned for full coverage and analysis of all the battery day announcements!

Paul Fosse is a Software Engineer delivering financial data marts using massively parallel databases (Exadata and GreenPlum) for a major healthcare insurer and a lifelong lover of cars. From the time I saw the 1972 Volkswagen Dasher review in Consumer Reports, I knew the industry would convert to front-wheel drive. Now I am excited to have a front-row seat to the industry's biggest transition in generations, the transition from gas and diesel cars to electric vehicles. I ordered my first EV (Nissan Leaf) in 2010 and now own a 2018 Tesla Long Range Model 3 and have a Cybertruck and a Model Y on order. Contact me on Twitter at Paul Fosse with tips for new stories. Full disclosure, I'm a Tesla Shareholder.

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