Tesla’s annual Investor Day event took place on October 22, 2020 with Elon Musk, Stella Li, and other dynamic executives. Musk shared a grand vision for the company’s future, and Li updated investors on recent developments.
Here’s what went down at the event:
Elon Musk had a big announcement to share — Tesla has now become the world’s biggest manufacturer of batteries for automobiles. Musk said that Tesla will double the production capacity of its Gigafactory in Nevada over the next two years.
He also made an announcement about Tesla’s new ‘Full Self-Driving’ program. Musk said that the system will be rolled out in 2020 and will allow cars to be driven autonomously — no driver required.
Stella Li, Tesla’s CFO, provided investors with an update on the company’s financial performance. She said that Tesla’s revenue is expected to grow by 20-30%, in the second quarter of 2020. She also announced that Tesla’s Model 3 is now the bestselling electric vehicle in the United States and Europe.
Robyn Denholm, Tesla’s Board Chair, discussed Tesla’s plans to expand its manufacturing and production capabilities. She explained that Tesla plans to build a new Gigafactory in Texas and that the company is exploring the idea of opening other factories around the world.
Finally, Elon Musk spoke about Tesla’s latest vehicle: the Cybertruck. Musk emphasized that it will be the toughest, most capable truck on the market. He also discussed the Rollout Platform, which he says will be the “asynchronous dealer” for Tesla — allowing customers to buy directly from the company.
It’s been a big day for Tesla, and investors were definitely pleased with what was discussed. It’ll be interesting to see how these plans are realized over the next few years.