Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[thesmokingman]

https://fordauthority.com/2022/08/ford-mustang-mach-e-will-get-lfp-battery-pack-in-2023/

lol, Ford switching Mustangs to LFP? Reads like a cop out instead of designing a proper battery with Li chemistry.

And in other news Hertz gives some updates on the crazy demand for the Tesla rentals.

“With respect to EV specifically, over 15,000 Uber drivers to date have rented a Tesla from Hertz, at a minimum rate of $334 per week, comprising over half a million transaction days,” company CEO Stephen Scherr said. “Driver feedback has been positive and they remain drawn to the opportunity as gasoline prices remain elevated and demand for the service among Uber customers is strong. Our Tesla’s enabled Uber drivers could differentiate themselves and to improve upon the quality of their riders experience, and that translates into higher earnings for them.”

And with regard to maintenance...

On maintenance, I think Kenny said to you, we are running kind of 50% to 60% of what maintenance costs are on ICE vehicles. That’s roughly in line with where we are. If there’s anyone surprised, it’s probably a slightly higher expense on tires, but not much more, and that’s embedded in the figure I’m giving you. So I would say, overall, we are very pleased with the results. They’re coming in roughly in line with what we thought when we first underwrote the move in this strategic direction.”

Hertz gives several updates on its Tesla and Polestar EV fleet

Hertz gave several updates on its fleet of Tesla and Polestar all-electric vehicles, which it started offering to customers earlier this year, during its Earnings Call for Q2 2022 earlier today.

www.teslarati.com

 

[Accident]

Thanks all, but my question was on car numbers backlog by model, not time backlog. For example, if the backlog is 4 months and a million cars per year are produced then that's ~300k unfulfilled orders. I'll guess I'll keep looking.

Troy has a more up to date backlog estimate that includes Berlin and Austin. He also includes the backlog by model. Total backlog is about 500k cars based on his last update.

 

[StealthP3D]

I got the mail too. Unfortunately I don't have any possibility (to check) to vote as my broker is only located in Switzerland. Tesla also has stated that issue on their website:
"Many brokers outside of the US don’t allow retail shareholders to vote. Check with your broker if proxy voting is allowed."
(haven't checked it yet with my broker)

That's fine, take your time...just be aware that if we don't have enough votes to effect a stock split after the annual meeting the day after tomorrow, those of us who voted will identify and track down those who were too lazy to bother casting a ballot and sentence them to a tar and feathering party so enthusiastic I can't accurately describe it here without violating the TOS an untold number of times.

We are a very tolerant bunch, but we draw the line at those who are purposefully so indolent and slothful they cannot be bothered to vote. If you have never witnessed an authentic American tar and feathering, well, let's just say that polite company should probably stay home (assuming it's your decision to make).

Enough said about that!

 

[StealthP3D]

I have shares in three accounts at Schwab and I have not received any reminders.

Is there a deadline to vote?

Yes, there is. Check what e-mail you have registered with Schwab for the account(s) holding the TSLA.

 

[elasalle]

Gary has new PT of 1600.

Who wanna bet, he will start saying time to sell by the time it reaches 1200

 

[Right_Said_Fred]

I cannot imagine the quorum of votes will not be met. Big stakeholders like Elon, Larry, Vanguard, Susquehanna, Blackrock and other institutional investors will surely vote. The same goes for S&P funds. As private investors, no matter how passionate we are, we do not hold a large proportion of the shares.

 

[thesmokingman]

I have shares in three accounts at Schwab and I have not received any reminders.

Is there a deadline to vote?

I got my email from Schwab on 6/30, fyi.

TESLA, INC. 2022 Annual Meeting
Vote by ‌August 3, 2022‌.​

As a shareholder in TESLA, INC., you have the right to vote in an important election that may affect your investment. Don't miss your chance to make your choice.


Control number: ‌XXXXXXXXX


Account number: ‌XXXXXXX


Meeting date: ‌August 4, 2022‌

 

[elasalle]

I cannot imagine the quorum of votes will not be met. Big stakeholders like Elon, Larry, Vanguard, Susquehanna, Blackrock and other institutional investors will surely vote. The same goes for S&P funds. As private investors, no matter how passionate we are, we do not hold a large proportion of the shares.

Don't forget little brother ... he just converted a few more

 

[elasalle]

Tesla Model Y Reaches the Shores of Australia & New Zealand

Ships filled with Tesla Model Y reached the shores of Australia and New Zealand. Records of customers' VIN in the department of infrastructure's Register of Approved Vehicles (RAV) system confirm that the vehicles are already in the country.

www.tesmanian.com

 

[willow_hiller]

I cannot imagine the quorum of votes will not be met. Big stakeholders like Elon, Larry, Vanguard, Susquehanna, Blackrock and other institutional investors will surely vote. The same goes for S&P funds. As private investors, no matter how passionate we are, we do not hold a large proportion of the shares.

This is why I think something is up. The Tesla twitter account has never once asked shareholders to vote their shares, prior to this annual meeting: https://twitter.com/search?q=vote (from:Tesla)&src=typed_query&f=live

And then Elon retweeted it not once, but twice:

https://twitter.com/x/status/1549288086944845825

https://twitter.com/x/status/1554230257997209601

 

[Speedr117]

This is why I think something is up. The Tesla twitter account has never once asked shareholders to vote their shares, prior to this annual meeting: https://twitter.com/search?q=vote (from:Tesla)&src=typed_query&f=live

And then Elon retweeted it not once, but twice:

https://twitter.com/x/status/1549288086944845825

https://twitter.com/x/status/1554230257997209601

Also might be why his brother exercised some of his options early. Probably really close on one of the proposals.

 

[dhanson865]

https://twitter.com/x/status/1554420616849199104

Spoiler: high res image

 

[mongo]

I cannot imagine the quorum of votes will not be met. Big stakeholders like Elon, Larry, Vanguard, Susquehanna, Blackrock and other institutional investors will surely vote. The same goes for S&P funds. As private investors, no matter how passionate we are, we do not hold a large proportion of the shares.

It happened last year with proposal 2 (two year director terms). They did not get 66-2/3 of shares to vote so it didn't pass.

 

[StealthP3D]

One thing to note is that while most LG pouch automotive applications have had problems the sources have been different. Porsche was allegedly traced to A/C charge controller, Hyundai to 'BMS', Bolt to pouch manufacturing QC and so on. Some, such as all the Geely brands (Volvo, Polestar, LECC, etc) have had zero reported problems with LG, which they've used for all Europe/UK built vehicles.

Tesla using LG would not have problems, I suspect, because their quality control is so good. For OEM's that have obsessive quality control even risk-prone pouches can work well. If, however, they follow the traditional Boeing/GM/VAG practice of delegating quality control and design to third parties there is little surprise that they have Cell, Battery and BMS problems.

One indisputable lesson to learn from Tesla is that supplier quality control requires tight supervision and control from the OEM.

It sounds like you are saying Elon was just blowing smoke up our bums when he said Tesla strongly recommends against the use of pouch cell (due to fire danger).

It also sounds like you are under the mistaken impression that the A/C charge controller is not part of the BMS.

 

[wipster]

I got my email from Schwab on 6/30, fyi.

Same with e*Trade.

 

[MP3Mike]

I cannot imagine the quorum of votes will not be met. Big stakeholders like Elon, Larry, Vanguard, Susquehanna, Blackrock and other institutional investors will surely vote. The same goes for S&P funds. As private investors, no matter how passionate we are, we do not hold a large proportion of the shares.

In the latest SEC filing the board made it known that they didn't get nearly enough shares voting last year to remove the supermajority requirement that they wanted to remove:

At the 2021 Annual Meeting, approximately 53.0% of the shares entitled to vote and present in person or represented by proxy voted to take steps necessary to reorganize our Board into one class, with each director subject to election each year for a one-year term (the “2021 Declassification Proposal”). The Proxy Advisory Firm states that the Board has not taken the requisite steps necessary for full declassification of the Board, but fails to recognize that even though the 2021 Declassification Proposal was approved by a majority of the shares entitled to vote and present in person or represented proxy, such votes represented only 31.4% of the outstanding shares on the record date for such meeting and would thus have fallen far short of the supermajority threshold required to approve a proposal to amend our certificate of incorporation to effectuate a full declassification. In contrast, at the 2021 Annual Meeting, management separately proposed to reorganize our Board into two classes, with each director’s term being reduced from three years to two years (the “2021 Two-Year Term Proposal”). Approximately 99.5% of the shares entitled to vote and present in person or represented by proxy voted for the 2021 Two-Year Term Proposal. However, this still only represented 58.9% of the outstanding shares on the record date for such meeting, which fell short of the required supermajority threshold that was needed to pass.

So even though almost 100% of the people that voted, voted for something, it was still only 58.9% of the outstanding shares, which fell short of the supermajority requirement.

So ~40% of the shares weren't voted. Maybe retail shareholders would be enough to push that over the limit.

 

[SN_8]

Also might be why his brother exercised some of his options early. Probably really close on one of the proposals.

But those were exercised after the record date, so should not matter to this vote. The record date was June 6.

 

[WolfHero]

PR piece with Secretary of Energy Jennifer Granholm appearing on Colbert last night:

 

[Ogre]

In the latest SEC filing the board made it known that they didn't get nearly enough shares voting last year to remove the supermajority requirement that they wanted to remove:



So even though almost 100% of the people that voted, voted for something, it was still only 58.9% of the outstanding shares, which fell short of the supermajority requirement.

So ~40% of the shares weren't voted. Maybe retail shareholders would be enough to push that over the limit.

They need a supermajority vote to eliminate the supermajority vote requirement.

Checks out.

 

[2daMoon]

I've been glancing at the ticker over the past hour while reading some Heinlein, (I know, I know, watching the SP tick is not the sort of thing a HODLer should spend time at) and it occurred to me that I may have my calendar mixed up.

Are we caught in a Groundhog Day loop? The chain of SP ticks seems like it is deja vu all over again (to paraphrase Yogi Berra), trading down/sideways toward the closing bell. (which means that, yeah, I did this yesterday too )