Key Takeaways (mostly new information):
- During the Q&A session, one shareholder asked Elon what he meant when he tweeted there is a way to fully charge a Tesla in less time than filling a gas tank. Elon responded that they will show how, with a demonstration on June 20th. The event will likely show a battery swap capability that they will roll out to service centers and/or the Supercharger network.
- He reiterated that the greatest challenge for Telsa is to lower cost of the vehicle and to provide long distance travel.
- 3rd Gen Tesla Sedan to be lower gross margins as a strategic move by Tesla to sell more quantity. Basically will give customers more bang for their buck. He mentioned this when a shareholder asked if he believed they could match or exceed Porsche gross margins. This goes along the line of the previous point, that he is more focused on affordability of the vehicles than making more per sale near term.
- Elon described plans to do a minor refresh to the Model S sedan in 3 to 4 years and then a major refresh in 6 to 7 years. Doing so, the Model S will be refreshed at a similar time frame as the gen 3 sedan being released.
- When asked what will the gen 3 sedan look like he stated it will be in the family as the model s but that he doesn’t want it to simply be a shrunk version of it. He hopes to implement some auto driving/self driving elements into the vehicle if they are ready at that time.
- Gen 3 needs to achieve 200 mile range.
- Battery Tech – working with Panasonic to get there, no major breakthrough needed to make the gen 3 sedan.
- No motorcycle plans for the future. Elon mentioned Brammo is currently making them.
Watch the full video below: