TALKING TESLA

TT 192 2020 Q4 Earning Call

January 28, 2021 FOOLYBOO
TALKING TESLA
TT 192 2020 Q4 Earning Call
Show Notes
  1. Financials
    1. Margins miss by about 20%
    2. Zac: one time charges
      1. Employee Stock increase and Stock based compensation
      2. Bonds coming due which converted to stocks
      3. S and X refurb
      4. If excluded above, would be better than previous quarter
    3. Risks for this year: Global Semiconductor market
      1. Other Covid impacts could affect them
    4. Could look at Tesla as revenue/cell output and it’s value as a company
      1. They’ll excel because of efficiency and want all cell manufacturers to produce and sell to them. 
      2. Will buy as much as they can send
    5. Regulatory credits could be the same could be lower
  2. Growth
    1. Expect 50% growth for the next few years or more 
    2. Elon: The market undervalues FSD revenue still
    3. Because of cash on hand, will move faster on:
      1. Service centers
      2. Superchargers
      3. Manufacturing
      4. ?Products?
    4. Some human capital limitations but still expect above average growth
  3. FSD
    1. Status
      1. Still moving towards 360 Cameras views for all parts of the code
      2. Things are on track
      3. Expanding the beta program
    2. Regulatory
      1. China will be allowing level 5 later this year
      2. EU is barely allowing level 3
      3. US is taking a wait and see.
        1. Looking at quality of software before going forward
    3. Have had inquiries from OEMs
      1. Willing to sell the tech 
    4. Will be selling access to DOJO when the time is right
    5. Version 4 HWD sounds done
      1. But expects this chip to be able to do everything he has promised
      2. Thinks introducing it now would cause confusion
      3. Will be 3x faster and user better cameras and more power efficient
  4. Battery Advancements
    1. Costs are in line with projections
      1. Won't get there for a 3-4yrs (seemed to sandbag a bit there)
    2. Ordering 200gw/h of equipment expect 100 gwh next year
    3. Suppliers are still being asked to make as much as they can and Tesla will buy them
      1. Prelim discussions on 4680’s made by suppliers too
  5. Service
    1. Gerrome: The best service is when it is not needed
    2. Would like to get Tom not to borrow tires
    3. 100 out of 140 centers can get an appt in less than 10 days
    4. 40% are mobile in North America
    5. 50% of all appointments are done in 2hrs
    6. App is better than a phone call
      1. Has a written record for every one
      2. Can send photos
      3. Payment
      4. See where your tech in in the process of getting the car done
  6. CyberTruck Info
    1. Volume prod in 2021
    2. Will use a 8k ton press for castings
    3. Order parts and machinery
    4. Engineering done
  7. Electric Van
    1. Nice idea but not enough cells out there. 
    2. Would like to eventually do a sprinter type van
  8. Model S/X 
    1. https://www.cnet.com/roadshow/news/tesla-model-s-ev-sedan-refresh-interior-debut/
    2. Noticed touch controls on steering wheel
      1. Blinkers even!!
    3. Dash seems to have air quality
    4. Back seat scr
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