MUSK No Child Labor will be USED to make Tesla Batteries

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Tesla Shareholder Meeting in 10 Minutes (Supercut)

– Highlights from Tesla’s 2023 shareholder meeting
– Tesla Mast Plan Part 3 recap
– Latest on Cybertruck, Tesla Bot, new models, and Giga factories
– Update on Tesla’s manufacturing advancements
– Tesla Full Self Driving progress

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Uh well we've got a lot of Uh great news to talk about today the The Tesla team has done an incredible Job of executing over the past year and We have many exciting years ahead of us Tesla master plan part three which Admittedly was it was quite technical we Wanted to go into a lot of technical Depth Um So uh you know it was clear that they Were what we were saying was not just Um we're not merely assertions but that They were backed up with physics and With real data that it's realistic Um and and with the mass plan part three We want to basically the goal is to give People hope realistic hope Um and maybe hopes even the wrong word But simply to say that that there is a Path to a fully sustainable uh global Economy that we are on that path that we Are accelerating that path and this and That so long as we don't get complacent About it it will happen So I'll I'll just I'll kind of rush Through a recap of the mass plan part Three but the you know some of the Salient points are that it will actually Take less energy to go to to go Sustainable not more energy uh it's it's Actually more and some of these things May sound very obvious but it's it's More energy efficient to go sustainable

Not less There's and and there's less mining that Is required for a sustainable any energy Economy not more it's very important to Appreciate that uh most of our battery Packs Um are iron-based Um a majority of our battery packs are Iron based not Cobalt Um and the and then our other battery Packs are nickel based not Cobalt the Nickel batteries use a little bit of Cobalt as a binder Um but only a tiny amount in contrast Your phones all use 100 Cobalt But even for the small amount of cobalt That we do use we will make sure six Weeks is Sunday that we're that no child Labor is being exploited obviously we're A company that cares a lot about doing The right thing and we don't want to Delude ourselves or to loot anyone else So the faster we can make uh battery Packs the faster we can move to a Sustainable energy economy that's the Fundamental limiting factor when you Look at the emissions over time electric Vehicles absolutely win by a long shot And as as we're seeing the the the the Cost uh and the emissions required to Produce an electric vehicle are dropping Rapidly over time and and once again the Uh that the top two most desired Companies for engineers

On Earth uh were SpaceX and Tesla we're Also excited to announce our next-gen Drive Unit Which is a big reduction in silicon Carbide It's half the factory space Notably there are zero Rare Earth Elements required So for the first time in I think over 100 years We're actually going to change from 12 Volt uh voltage of you know outside of The drivetrain to a 48 volt Architecture and to First approximation That that means we need only about a Quarter as much copper For in the in the car as would be needed For a 12 volt battery So that's a big deal because people are Often worried about you know is there Enough copper yes there is And FSD beta is growing hyper Exponentially So that that chart is going to look like A wall basically There's really just one last piece of Of the system that needs to be a neural Net which is the The planning and Control Function and And so we expect to have that last piece Become neural net so it'll be end to end From a video in to control out as a Neural net the thing the thing to Appreciate is it's not that full

Self-driving will be as good as a person It will be much much better it's 10 Times safer than a person it's not even Going to be a contest frankly being able To do a software update and have several Million cars suddenly go from manual Driving to Autonomous I think will be the single Biggest asset value increase in history I'm actually surprised that so few People uh realize this or maybe they Just don't believe it it's real Um but but it is so This is this is really An insanely big deal Uh we're also the the largest ev maker In the world And while at the same time being the Highest margin uh of any car maker in The world And now making electric vehicles Profitably is is hard as illustrated by The difficulty of our competitors a Number a number of our competitors are Making EVS at a significant loss Um so But we are not we are actually making EVS profitably Um and almost no one else is it's Important to to understand that uh no Company is immune to the macroeconomic Environment But that said the it won't be Darkness Uh forever I expect probably a year of

Difficulty Uh globally for everyone Um and then my best guess is that the Global economy turns around uh in Roughly 12 months Um and and then Tesla will be in an Extremely good position So anyone who is a long-term investor I Think will do extremely well this is all Uh internally written Tesla software I Think there's almost no companies in the World can do this because they do not Have uh a a very talented internal uh Software team so they're generally Reliant on third-party Enterprise resource planning software so But Tesla is not this this is this is a Hidden strength of the company Um that often doesn't get a lot of Attention but is incredibly powerful so Once again I'd like to thank them for Their work and uh as predicted Um we are highly confident that model y Will be the number one best-selling car On Earth this year Tesla cars are Actually the the safest cars in the World we put immense effort into vehicle Safety and we keep updating the safety So we keep improving the automatic Emergency braking system just with a Software update when we do did the the European and cap sort of active safety Tests we got the highest scores that They've ever seen

And then it's worth noting things like The total cost of ownership of a model 3 Is now comparable to that of a Toyota Toyota Corolla uh going to the mega pack Um because this is a stationary storage Is an important part of solving the Sustainable energy problem Um and the the Tesla mega pack is now More competitive than a natural gas Speaker plant so we have very strong Demand for the Tesla mega pack Um and uh we're going to make a lot of Them a while back I predicted that the Tesla Stationary battery pack business would Actually grow faster than the automotive Side of things and that's exactly what Has happened uh you can see it's it's an It's an exponential curve uh growing at A rate that that is even faster than our Vehicle sales We're expanding gigafactory Nevada For the Tesla semi-production line and For the 4680 in in-house cell production We're aiming for 40 gigawatt hours a Year both in California and in China but I think Um long term that this will be uh much Much greater than this I mean I would Say I wouldn't be surprised if long term Uh the stationary battery pack uh Activity went well in excess of 500 Gigawatt hours per year So the the demand is like quite quasi

Infinite here as we look ahead to tackle The what we see as the the choke points In the supply chain one of them is uh Lithium refining it's not that we wish To take on extra problems but since Nobody else was doing it we felt we had To do this and so uh we've just Broken Ground on lithium Refinery and Corpus Christi which will be Um do more lithium refining than I think Probably everything uh outside of China And we signed a deal for our next Gigafactory and in Mexico Giga Mexico uh And I I think that's going to be a Fantastic Factory So uh yeah we're we're laying the Groundwork for Um ultimately getting to 20 million Vehicles a year So cyber truck is a hard car to make Um it's because it's a such a radically New design it actually you can't just Use conventional methods of Manufacturing we had to invent A whole new set of manufacturing Techniques in order to build an Exoskeleton based car instead of an Endoskeleton based car so it's it's Extremely non-trivial to to build the Cyber truck Um but we're making good progress on That we have the Um So so yes it's Uh I that that's the the

Thing I when I Um in the factory I I tour the Cyber Truck Line to see how we're doing there And um And uh Sorry for the labor we're finally going To start delivering production cyber Trucks later this year and I think the Product if anything is better than Expectations

Electric City Vehicles Cars Power

Electric City Vehicles Cars Power

Electric City Vehicles Cars Power

The first electric vehicles hit the streets in the 1890s, powered by regenerative braking. Today’s electric cars are quieter, smoother and faster than their gas-powered counterparts. And they produce no tailpipe emissions, thanks to a clean, efficient drivetrain.

While EVs are typically more expensive than standard models, the upfront purchase price is often offset by a variety of financial incentives that can cut or even eliminate a buyer’s initial costs. These can include one-time purchase grants and tax credits, reduced or even waived import duties, free parking and road tolls, and lower annual licensing fees.

Aside from zero-emission driving, EVs also contribute to cleaner air by not using fossil fuels to generate electricity. That’s assuming, of course, that your local power plant does not use fossil fuels to create energy, which is not always the case in the United States.

The latest EVs can manage most of your daily driving needs with a quick charge at home, and some brands like China’s Nio are experimenting with battery-swap stations where robots swap your depleted pack for a fully charged one in just five minutes. But even if you don’t have access to a fast charger, your local utility may offer free or discounted public charging. Plus, properly equipped EVs can send energy back to the grid during periods of peak, high energy consumption. This is known as bidirectional charging, and PG&E is among the companies testing it in California.

Jenn Fontana
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