5 Massive Takeaways From Elon Musk’s Final-Minute Tesla Livestream

• Elon Musk held a last-minute all-hands assembly with Tesla workers on Thursday night time.
• Musk stated buyers have to “grasp on to your inventory” whereas touting the Cybercab and Optimus robots.
• The shock assembly comes after Musk was criticized by buyers for not focusing sufficient on Tesla.

Elon Musk held an all-hands assembly with Tesla workers on the Texas Gigafactory on Thursday night time.

The assembly, which was held on brief discover, was livestreamed on X. Tesla sometimes holds its all-hands conferences throughout common work hours. That is additionally the primary time Tesla has streamed an all-hands assembly publicly.

Tesla initially shared a livestream hyperlink with workers earlier than the assembly’s scheduled begin time at 9:30 p.m. ET, solely to finish the stream abruptly. This sparked confusion amongst workers.

The corporate began a brand new livestream shortly earlier than 9:30 p.m. ET, and the assembly kicked off at 9:58 p.m.

Musk spent the primary half of the hourlong assembly giving updates on Tesla’s security report, its supply figures, and the corporate’s work on autonomous driving and robotics. The remainder of the session was open to workers to ask questions.

Listed here are the 5 largest takeaways from Tesla’s all-hands assembly:

1. Musk stated buyers have to ‘grasp on to your inventory’

Musk alluded to the turmoil surrounding Tesla’s inventory value whereas talking in regards to the firm’s autonomous driving ambitions.

“It’s totally tough for folks within the inventory market — particularly people who look within the rear-view mirror, which is most individuals — to think about a future the place all of the sudden a ten million car fleet has 5 to 10 occasions the usefulness,” Musk instructed his staff on the all-hands assembly.

Tesla’s inventory has declined previously weeks as the corporate grapples with falling gross sales and the controversy surrounding Musk’s work with the White Home DOGE workplace. Tesla showrooms have been hit with vandalism and protests nationwide.

“For those who learn the information, it appears like armageddon. I am unable to stroll previous the TV with out seeing a Tesla on hearth. What is going on on?” Musk stated on Thursday night time.

The corporate’s inventory value has dropped by over 50% from its report highs in mid-December. Tesla shares closed at about $236 on Thursday, down from a peak closing value of $479 in December.

However Musk says autonomous driving will unlock Tesla’s true worth.

“It is so profound and there is not any comparability with something previously. It simply doesn’t compute. However it can compute sooner or later. And a few folks, like Cathie Wooden at ARK Make investments, do see the long run,” Musk stated on Thursday. ARK Make investments set a $2,600 value goal for Tesla’s inventory in June.

“So what I’m saying is, ‘Hold on to your inventory,'” Musk added.

Tesla shares costs fell by half a share level after buying and selling hours.

2. Musk needs Tesla’s operations group to give attention to the Cybercab line

When an worker requested Musk what Tesla’s operations group ought to give attention to within the subsequent couple of years, Musk stated they need to prioritize the robotaxi, often known as the Cybercab.

“Effectively, we do need to scale up manufacturing to new heights, clearly, with the Cybercab. The Cybercab is not only a revolutionary automobile design, it is also a revolutionary manufacturing course of,” Musk stated.

Musk stated the manufacturing course of for the Cybercab wasn’t like a “regular automobile manufacturing line” however as an alternative resembled a “high-speed shopper electronics line.”

“In actual fact, the road will transfer so quick that really, folks cannot even get near it. I believe it’s going to be capable of produce a automobile, finally, in lower than 5 seconds,” Musk added.

Producing Cybercabs at such speeds would require Tesla to scale up its casting course of, Musk stated.

“Let’s have a look at what’s the restrict of physics, of how massive can a casting machine be. Let’s discover out. I am recreation. I am down,” Musk continued.

Musk unveiled Tesla’s Cybercab on the firm’s “We, Robotic” occasion in Los Angeles in October. Throughout that presentation, Musk stated the Cybercab could be in manufacturing earlier than 2027.

Throughout a Tesla earnings name in October, Musk instructed buyers the Cybercab will value “roughly $25,000.” Musk stated on the “We, Robotic” occasion that he expects to promote the Cybercab for “under $30,000.”

“We’re aiming for a minimum of 2 million items a 12 months of Cybercab. That can be in a couple of manufacturing unit, however I believe it is a minimum of 2 million items a 12 months, perhaps 4 million finally,” Musk stated then, including that the numbers have been his “finest guesses.”

3. Tesla to construct Optimus robots by the ‘legion’

Musk stated in the course of the all-hands that he expects Tesla to ramp up its manufacturing of Optimus robots this 12 months. He was responding to an worker’s query about when the robots could be out there to the general public.

“This 12 months, we hopefully will be capable of make about 5,000 Optimus robots,” Musk stated.

Musk instructed his staff that Tesla was aiming to have sufficient elements to supply “10,000, perhaps 12,000” robots.

“However since it is a completely new product. Every part is completely new. I’ll say we’re succeeding if we get half of the ten,000. However even 5,000 robots, that is the scale of a Roman legion,” Musk stated.

“I believe we’ll actually construct a legion, a minimum of one legion of robots this 12 months after which in all probability 10 legions subsequent 12 months,” he added.

In April, Musk stated throughout an earnings name that the Optimus robots are Tesla’s most dear asset.

“As a result of if you happen to’ve received a sentient humanoid robotic that is ready to navigate actuality and do duties at request, there is no such thing as a significant restrict to the scale of the financial system,” Musk instructed buyers then.

4. No Tesla workers requested about politics

Staff didn’t ask Musk questions on politics throughout his question-and-answer session, which lasted round half-hour.

Some Tesla buyers have criticized Musk’s political involvement, saying it was weighing the corporate down. Wedbush Securities analyst Dan Ives wrote in a joint be aware on Wednesday that Musk’s work with the White Home DOGE workplace was turning Tesla right into a “political image.” Ives has persistently been bullish on Tesla.

“It is a unhealthy factor,” Ives wrote, including that Musk must “take a step again and stability his DOGE and Tesla CEO roles.”

Final week, Ross Gerber, a longtime Tesla investor, instructed BI that he does not anticipate Tesla’s inventory to rebound this 12 months. Musk had alienated Tesla’s prospects together with his political actions and positions, Gerber stated.

5. Musk stated he is ‘stretched fairly skinny’

Musk instructed his staff on Thursday that he’s “stretched fairly skinny,” after one worker requested him if he’s eager on making different merchandise like airplanes or trains.

“I’ve like 17 jobs, at this level. I simply fall asleep, work, fall asleep, work, after which do this seven days every week just about,” Musk stated.

“I suppose I like being productive. I like getting issues accomplished,” he added.

Musk runs half a dozen corporations. Except for Tesla, Musk splits his time between his rocket firm, SpaceX, the social media platform X, tunneling firm The Boring Co., neural-interface-technology startup Neuralink, and AI startup xAI.

That is along with his involvement with the White Home DOGE workplace, the place he is been spearheading cuts to authorities spending.

Musk stated in an interview with Fox Enterprise host Larry Kudlow, which aired on March 10, that he was balancing his political and enterprise work “with nice issue.”

Representatives for Tesla didn’t reply to a request for remark from BI.