Tesla CEO Elon Musk Discusses Future Plans at Shareholder Meeting

Tesla CEO Elon Musk Discusses Future Plans at Shareholder Meeting

Tesla CEO Elon Musk addressed shareholders at the company’s annual meeting, discussing his predictions for the economy and promising the production and delivery of Cybertrucks later this year. Musk stated that Tesla plans to deliver its first Cybertrucks this year and hopes to produce between 250,000 and 500,000 annually. Additionally, Musk stated that he intends to drive a Cybertruck on a daily basis.

Advertising and New Technology

Tesla has historically relied on non-traditional marketing tactics to promote its products. However, Musk stated that the company may reconsider its long-standing stance against traditional advertising, stating that they will “try out a little advertising and see how it goes.” Additionally, Musk plans to produce a new type of drive unit that requires less silicon carbide and no rare earth elements, as well as switching to a new, low voltage architecture in its cars that requires less copper.

New Board Member and Company Growth

Former Tesla CTO and current CEO of e-waste recycling company Redwood Materials, JB Straubel, was voted onto the board as an independent director. Musk also boasted about the growth of Tesla’s energy storage business, stating that sales of “big batteries” were growing faster than the company’s core automotive segment. Musk also discussed the development of a humanoid robot, referred to as Optimus, that should be able to run on the same software and computer that Tesla uses to enable advanced driver assistance systems in its cars.

In conclusion, Tesla CEO Elon Musk discussed several topics during the company’s annual meeting, including the production and sales of Cybertrucks, the possibility of traditional advertising, new technology developments, and company growth with a new board member and expanding energy storage business.

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