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Tesla, Inc. (TSLA) CEO Elon Musk Hosts 2021 Annual Meeting of Stockholders Conference (Transcript)

Oct. 07, 2021 10:41 PM ETTesla, Inc. (TSLA)16 Comments
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Tesla, Inc. (NASDAQ:TSLA) 2021 Annual Meeting of Stockholders Conference Call October 7, 2021 5:30 PM ET

Company Participants

Martin Viecha - Senior Director, Investor Relations

Elon Musk - Chief Executive Officer

Robyn Denholm - Independent Chairwoman

James McRitchie - Shareholder

Kimberly Stokes - Shareholder

Kristin Hull - Shareholder

Michael Garland - Shareholder

Winifred Doherty - Shareholder

Martin Viecha

Good afternoon, everyone and welcome to Tesla’s 2021 Annual Meeting of Stockholders. We are glad you could join us today. My name is Martin Viecha, and I’m Tesla’s Senior Director of Investor Relations.

There will be two parts of today’s meeting. First, the formal part of the meeting will cover the nine items that stockholders have been asked to vote on. After the voting, I will introduce Tesla’s Co-Founder and CEO, Elon Musk. He will give a presentation about Tesla’s year in review. At this time, I’d like to thank the members of the Tesla team and Board who are here with us today. A representative from PricewaterhouseCoopers, Tesla’s Independent Auditor, is present on the phone with us as well. But before we begin, I’d like to introduce you to Robyn Denholm, the Chair of Tesla’s Board, who would like to say a few words.

Robyn Denholm

Thanks, Martin. Well, welcome to the 2021 Annual Shareholders’ Meeting here in virtual form this year. We hope next year that we will be able to have our regular in-person gathering just like we have over the last decade. Since we last met as a shareholder group in September of 2020, a lot has happened at Tesla. I want to just recap some of the things that have happened over this last 12 months. So in the 12 months that ended September of 2021, we have delivered over 800,000 vehicles. We have also started new production lines in Shanghai. We have commenced the pilot production of our

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Comments (16)

Lol, can't get facts right..

> I will introduce Tesla’s Co-Founder and CEO, Elon Musk
Relatively sane comments this time. Obviously Semi and Cybertruck won’t be produced in volume for years. Doubling Elon’s time estimate, a normal rule of thumb, probably isn’t enough in this case.

Elon’s comments on hiring and training engineers point to a major and enduring competitive advantage, at least potentially. Tesla is #2 most attractive employer for engineers, with no other vehicle manufacturer in the top ten, if this survey is to be believed:


Most of us will agree with Elon that an outstanding engineer is worth several average engineers - the 70/30 rule is real. If Tesla hires and retains the best, its competitors will struggle to keep up.
"It’s extremely stable. So as soon as we worry about methane, do not worry too much about methane. Methane quickly breaks down into CO2."
Not according to the UNECE
"Methane is a powerful greenhouses gas with a 100-year global warming potential 28-34 times that of CO2. Measured over a 20-year period, that ratio grows to 84-86 times"

No other lies or exaggerations were told
@Acculader From your unece link:
"Despite methane’s short residence time, the fact that it has a much higher warming potential than CO2 and that its atmospheric volumes are continuously replenished make effective methane management a potentially important element in countries’ climate change mitigation strategies. As of today, however, there is neither a common technological approach to monitoring and recording methane emissions, nor a standard method for reporting them."

This link does show that methane emissions are a serious concern and in that Elon was wrong to dismiss it. However it supports Elon's statement that methane quickly breaks down to CO2 so that does not make Elon a liar.
CO2e has a global warming potential (GWP), set at as 1..
Other gases are evaluated relative to CO2e.
Methane's figure is 28-36.
"Methane (CH4) is estimated to have a GWP of 28–36 over 100 years"

> However it supports Elon's statement that methane quickly breaks down to CO2 so that does not make Elon a liar<

"CH4 emitted today lasts about a decade on average, which is much less time than CO2. But CH4 also absorbs much more energy than CO2. The net effect of the shorter lifetime and higher energy absorption is reflected in the GWP. The CH4 GWP also accounts for some indirect effects, such as the fact that CH4 is a precursor to ozone, and ozone is itself a GHG"

That won't be enough to deter the belief, to so there's this, too, dealing in part with the "breakdown claim". If not converted to CH3 and ozone in the troposphere, become CO2e and water.

"If not destroyed in the troposphere, methane will last approximately 120 years before it is eventually destroyed in Earth's next atmospheric layer: the stratosphere. Destruction in the stratosphere occurs the same way that it does in the troposphere: methane is oxidized to produce carbon dioxide and water vapor"
DFV Deep Value profile picture
Naked psychopath shorting hedge funds all probably bought out the chips long ago to short Tesla and GameStop better.
DontFollowMyAdviceImaDummy profile picture
i'm shocked elon actually admitted every bear thesis about things not happening any time soon is 100% correct
Nick Cox profile picture
Everything at the conference just showed how the imaginary bear theses are actually bull theses.
Into the Black profile picture
@DontFollowMyAdviceImaDummy Bear thesis, hardly? There's a reason it's called "Elon Time", Elon has always optimistic about timelines.

Name checks out.
CAD Eng profile picture
@Nick Cox
He even debunked your personal theory about energy storage growth. Here's the direct quote: "we will prioritize batteries for vehicles, but then use any excess cells that we have in the Powerwall and Megapack"

That is exactly what I said would happen in response to your article.

- Tesla is finding it difficult to grow; supply chain shortages and battery availability are going to continue to impact Tesla's ability to grow production

- Tesla has no plans for additional capacity beyond what is already under construction. "We might start scouting new locations next year"

- Tesla won't start producing the cybertruck until the end of 2022 and the semi is a no-go at this point because they don't have enough battery supply.

- Elon thinks it will be 30 - 40 years before EVs replace ICE
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