Tesla Model 3: A Movement Week, Marked By Elon Musk
At the Tesla shareholder conference last week, CEO Elon Musk spoke about the launch of the Tesla Model 3 and brought more information about the Model Y.
The week ended in sparks when Tesla (momentarily) surpassed BMW in market capitalization.
Prior to this, Tesla held its Annual General Meeting of Shareholders in Mountain View, California. All comments on this gathering that appear below are those of Elon Musk. The transcript of extracts from this annual meeting was made possible by Seeking Alpha (blog finance).
On the configuration side of the Tesla Model 3, we learn that first of all we have to do some simple retouching (to avoid Model X errors) and that the first deliveries are about to start: "We think the configuration will become Functional by the end of next month [July] when we release the first Tesla Model 3. So yes, we are about to launch the first Tesla Model 3 next month. "
"We have made the initial configurations of the Tesla Model 3 very simple. This is crucial to achieving a high level of development. The big mistake we made with the X was to opt for too much complexity from the beginning ... it was not brilliant. "
"The Model X features a lot of interesting things that should have come out with Version 2 and Version 3. That would have been the best way to go. So initially, the configurations of the Tesla Model 3 will meet needs such as the color and size of the wheels the customer wants. We will be in those notions ".
"There will be only one engine at the start and then we will switch to double engine configuration, if all goes well, towards the end of the year or more likely next year. (Note: this configuration of the dual engine includes a motor optimized for the motorway and another for urban traffic.) ".
Concerning the waiting time for the Tesla Model 3: "The Model 3 will probably be out in a little more than a year. It will have to wait until the end of next year to receive it, pretty much. "
"The issue of the exit of the Tesla Model 3 in states that do not allow direct sales is the point on which we face a strong opposition from distributors. But the answer to this question is that in fact you can order a Tesla in any state of the country (United States). There is no restriction on that side. We operate anywhere in the country. Just go to the website and order the car, nothing more. "
About service centers and charging stations for the Tesla Model 3: "We are also adding a lot of service centers in anticipation of the development of the Tesla Model 3. This year we will double the number of Tesla superchargers in the world . An increase from year to year. And I think this year, it may be an increase of at least 50%, to double again next year. "
In terms of the Model Y hybrid, the demand could exceed that of the Tesla Model 3: "We have received some criticism regarding the Model Y ... suggesting that we should somehow be inspired by the Model 3 platform. Thinks that in fact we made a mistake trying to pull the Model X from the Model S platform. It would have been better to just design an SUV as an SUV should be. Designing a Sedan as a Sedan should be. Otherwise, we're just trying to force something that does not make sense.
"There are a number of major manufacturing improvements that allow us to build the car as no car has ever been built in the past. Investment spending, I think, will be much lower. We want to put this product on the road in 2019 approximately. And the demand for the Model Y may exceed that of the Tesla Model 3.