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1Q 2018 Shareholder Update Highlights

Discussion in 'Model 3' started by TheRealM3, May 2, 2018.

  1. TheRealM3

    TheRealM3 Member

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    #1 TheRealM3, May 2, 2018
    Last edited: May 2, 2018
    Some interesting details from my read:

    • 2,270/week Model 3 production before April pause.
    • 9,766 produced, 8,180 Model 3 delivered in Q1. (Total of 29,997 deliveries for S3X)
    • Model 3 is already on the cusp of becoming the best-selling mid-sized premium sedan in the US (compares to BMW 3 series, Audi A4, M-B C Class and Lexus IS).
    • The battery module line was the main culprit of production bottleneck. New automated module line is still being developed in Germany.
    • Target of 5,000 per week production in about two months (but not stated confidently).
    • After achieving 5K/wk production, will offer new options such as AWD (dual motor) and the base model (no mention of white seats)
    • Model 3 general assembly line consists of about 70% less steps than conventional assembly lines.
    • Model 3 is the highest quality vehicle we have ever produced.
    • The battery is damn good, better than anything else out there.
    • Net reservations continued to exceed 450,000 worldwide.
     
    • Informative x 3
  2. drawfour

    drawfour Member

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    Dual motor is AWD.
     
  3. mongo

    mongo Well-Known Member

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    Line is not installed yet, but it is no longer being worked on in Germany.
     
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  4. Moderatefan

    Moderatefan Member

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    This is BS, last time he said it'd be here in March and ramp up in April o_O
     
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  5. TT97

    TT97 Active Member

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    I thought the line was supposed to be installed in February or March?
     
  6. RichardL

    RichardL Member

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    Obviously depends on the exact wording, but I read that as saying they didn't just send it over and take the rest of the month off - they are continuing development work on V1.1+. That does not preclude Version 1 being installed
     
  7. TheRealM3

    TheRealM3 Member

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    This sounds to me like typical Elon talk and I read it like it is still being developed (for further capacity expansion) and it is not yet here and ready to be installed.
     
  8. Moderatefan

    Moderatefan Member

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    #8 Moderatefan, May 2, 2018
    Last edited: May 2, 2018
    Last 24 hours - over 3K sustained and 5K extrapolared rate. That's good news.

    I believe Elon said that battery production now takes 17 minutes compared to 7hrs 3 weeks ago.
    Fun fact: they are working for the last 3 years on removing cobalt from it and believe they can get it down to nothing...

    CAPEX on Y is currently quite low. It will come in mostly when the hardware is bought. The Y will be revolutionary... What does that say about 3?o_O

    Wow. One investor asked what percentage of invitations convert to configurations, Elon said this is boring, let's go to youtube... really?

    Youtuber's question: when is Tesla Network coming?
    We are well positioned... bla-bla...regulatory approval needed...technically will be ready by the end of 2019.

    Y will likely come out early 2020, but not from Fremont, we dont have space here for Y.

    Will you be imroving Supercharger technology to match 350kwh ABB? You're going to frag the battery if you do that...maybe 200-250kwh.

    Will you be sharing supercharging infrastructure with other brands? We're willing, but they don't want it.

    We'll be adding focus on Powerwall orders backlog 2nd half of the year... too busy with 3.

    Got about 3K Semi orders, but we don't actively advertise, these are opportunistic.
     
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  9. mongo

    mongo Well-Known Member

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    Install start was to be March (But I can't find free transcript to quote).

    From update filing:
     
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  10. dailo

    dailo Member

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    On the webcast, Elon mentioned that to speed up battery pack production they removed some lining on top of the pack because it was hard to automate. They found there was no difference with the lining on or off, interesting he always shares so much detail.
     
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  11. SoCalGuy

    SoCalGuy Active Member

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    Like quality control checks?
     
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  12. ebmcs03

    ebmcs03 Active Member

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    So what does this mean for 200k cars sold?
     
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  13. omgwtfbyobbq

    omgwtfbyobbq Active Member

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    Huh, their deposits are up to $985 million (from $854 million).
     
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  14. Moderatefan

    Moderatefan Member

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    #14 Moderatefan, May 2, 2018
    Last edited: May 2, 2018
    Continuation...

    2nd Tesla factory will be in China and will be both battery and car production in the same facility. The location will be announced in the 2nd half of the year.

    I think he said people use AP for about 50% of driven miles, but usage dips after negative coverage from press after accidents. The usage pattern is increasing.

    Ha-ha. He was asked to provide updates on milestones like 3K, 4K, 5K. He said people figure it out anyway based on vin registration and tracking other stats, we can only provide 1-2 week lead time, if you are too worried about short term don't buy our stock.

    What lessons learnt from 3 you will apply to Y?
    Lets talk about it when we start production of Y. It will be dramatically better. :)

    No info on 200K.

    Oh, yeah. He also said Tesla truck will be great (not semi)...no other info on the truck.
     
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  15. tracksyde

    tracksyde Member

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    I heard that part of the call.. I thought it was funny. But how would he answer that question? If they invited 50,000 people (making up numbers here) and sold 20,000 cars (every car they've made so far). Answering the question would be to say "40% of the people invited have configured".

    But if we also know that reservations are in excess of 450,000 outstanding (in the letter) and as omgwtfbbq mentioned, deposits are increasing, then it would also be safe to say that people who are invited to configure but have not yet configured are waiting for a different mix of options.

    Maybe a better question would have been "of the people who have been invited to configure, what percentage are deferring" or "what percentage are canceling".. something along those lines.
     
  16. Moderatefan

    Moderatefan Member

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    #16 Moderatefan, May 2, 2018
    Last edited: May 2, 2018
    I guess he could ask for clarification or suggested that people who didn't configure will configure later, but it was a bit shocking to hear that institutional investor put down like that. I guess they better sell Tesla stock too. He was almost advertising this. Makes sense on the other hand, companies dont need shorts.

    He could also refer that guy to TMC spreadsheet :rolleyes:
     
  17. EVNow

    EVNow Well-Known Member

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    Hmmm ... ;)

    Capture.PNG
     
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  18. SoCalGuy

    SoCalGuy Active Member

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  19. Moderatefan

    Moderatefan Member

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    I think we actually did not hear the latest car production rate. I got confused when heard the word "cars" in

    But now it seems he was talking about batteries only.
    The letter states current rate 2,270 but that is actually prior to shutdown
    I don't see anywhere what's the rate after the shutdown.
     
  20. McFlurri

    McFlurri Active Member

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    Yes, But I'm sure that includes the Tesla Semi and Roadster.
     
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