For a man who once said he wasn't going to be on earnings calls, it's hard to stay away.
Musk made boastful claims about his company's future, dropped hints about its next vehicle platform, and even offered some.
Despite missing delivery and revenue expectations, Musk still defended the company.
"We have excellent demand for Q4 and we expect to sell every car that we make for as far as the future as we can see." We are delivering every car we make and keeping operating margins strong.
These Wall Street platitudes were forgotten. We need to talk about cars. And trucks, too. There's robot cars. That's right!
The Cybertruck won't be launched until next year, with Musk saying production won't start until at least mid-2023 He said that they were in the last lap.
Musk said that the car was going to be sick. It's a hall of famer. It's next level. There were a few things that got in the way of it taking longer than expected.
Musk said that the company has made a lot of progress on the project. The new vehicle will be shared as part of a car-sharing service and will be unveiled in 2023.
If Musk is able to meet his self imposed deadlines, next year will be a big year for new product launches.
Musk has previously predicted that fully self-driving cars would be available by 2020 and that the driver wouldn't need to pay attention to the driving. This didn't happen, so take his predictions about a big bag of salt.
The first vehicle to be built on the next- generation platform will be therobotaxi. Musk dropped some hints about the cost savings the company is trying to achieve as it looks towards the future.
He said the vehicle will be about the cost of the Model 3 and Y platforms. To be clear, it will be small. It will definitely surpass the production of all our other vehicles combined.
Telsa can make two cars for the amount of effort that currently takes us to make one Model 3, according to Musk. It doesn't mean that this vehicle will be sold for half the price of the Model 3, only that it will be designed to be more efficient and cost effective.
Musk said they were on a 2-for-1 goal. We want to get to 50 percent again.
Musk has said that there will be an electric car with a price tag of $25,000. Everything will come out next year according to Musk.
Photo by Loren Grush / The Verge
Musk said that the full self- driving program would be rolled out in the next few months. If Musk's plans hold out, the advanced driver assist system will be available to every owner of the car before the end of the year.
Approximately 160,000 people are testing out the driver assist system on public roads, driving over six million miles. There could be thousands more by the end of the year if Musk is correct in his predictions.
Musk said that he drove from a friend's house in Austin to the Texas Gigafactory and didn't touch the car's controls. He acknowledged that there was still a long way to go before fully self-driving cars are available.
There is a longer process of how many nines reliability do you need before you can say that the car can drive with no one in it.
The new battery format is progressing slowly but surely. The hope is that the company will be able to install them in its cars very soon, as production has tripled as compared to Q3 2021.
Musk said that they are gaining rapid traction. Its output is growing quickly and we are expected to incorporate it in cars. The production of the Cybertruck won't depend on progress with the 4680 cells.
This isn't expected to be a limiting factor for the Cybertruck.
The 4680 cells are expected to be a game-changer for the company and will be unveiled during battery day in 2020. Expectations were high that the batteries would be used in vehicles like the Cybertruck since they were expected to provide substantial cost savings and a notable boost in power.
The earnings call wouldn't be complete without Musk's hyperbole. It was predicted by the billionaire CEO that the combined value of Apple and Saudi Arabia would be about $4.5 trillion.
Musk doesn't think it will happen. That will be simple. It will be very hard for a lot of work. New products are very innovative.
After the call, Musk's fans were quick to point out that Musk made a similar prediction in 2015 and again in 2017). Musk pats himself on the back on social media.
Musk made a few comments about his acquisition of the social networking site. Even though he tried to wriggle out of the deal, Musk insisted that he was still excited to own the social networking site.
He said he was excited about the social networking site. I and other investors are paying too much for the company. In my opinion, the long term potential for the social networking site is greater than it is currently worth.
It is refreshing to hear him say nice things about the company he is about to own.
He got one more dig in, noting that it has been a long time since it was last updated.
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