Tesla’s Shareholder Meeting: What To Take Away

Elon Musk’s Tesla shareholder meeting took place on Tuesday as Musk introduced some interesting themes while revealing even more ambitious endeavors.

While you wouldn’t expect to hear much about horses from Elon Musk, he lightly touched on the subject again before going on to comfort investors following the worst quarterly losses the company has seen so far.

Horses, quarterly losses, autopilot safety concerns, and battery fires were just some of the highlights of the shareholder meeting. The meeting comes at a time of ups and downs for Tesla, as the stock is at a two-year low following two quarters of continuous decline in 2019. Q1 was particularly bad for Tesla’s stock, but other concerns have also been brought forward in recent months.

After Musk earlier suggested that using a gas car instead of a Tesla would be the same as using a horse instead of a gas car, one audience member asked if the company’s new pickup truck would be able to haul her horse. Musk explained that he has nothing against horses, and that he in fact loves them, and the pickup truck will indeed be powerful enough to haul her horse. There are other, more pressing concerns including controversy over the safety of the autopilot driver assistance feature, as well as questions regarding recent battery fires.

The focus of Musk’s presentation included a discussion on a supposed demand problem at Tesla. “I want to be clear: there is not a demand problem,” Musk said. The bulk of the presentation focused on new updates and innovations. Tesla recently bought Maxwell Technologies in what Musk describes as a “strategic” move. The new Tesla pickup truck was covered for a chunk of the presentation, where Musk shared his love for and confidence in the new vehicle. Other updates included a solar roof, and “Tesla Insurance,” which the company might start offering soon.

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3 months ago
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