2021q4

I spent sometime listening to today’s earning call and have created raw some notes which I have included below for your reference. Enjoy! Opening remarks from Elon Above 50% growth expected in 2022 Overtime Tesla believes FSD to be most profitable offering from Tesla Elon still believes they will achieve FSD at a level safer than a human being by end of 2022 Value of vehicles expected to dramatically rise more than any other product in history thanks to FSD More products to be announced in subsequent calls Scaling & output big focuses for Tesla in 2022 If Tesla were to introduce new vehicles they determined that overall output would decrease so 2022 was focused on supply chain optimization & production No new vehicles will be introduced in 2022 as they will continue to be parts constrained Optimus is new robot product and hope is to bring new vehicles and products to market in 2023 Dependent on if they can produce more or less cars Robot has the potential to be more significant to be bigger than vehicle business over time 4680s Focus on production of 4680s 4680s are not a constraint on volume plans for 2022 Plan is to deliver first 4680 vehicles in Q1 Big focus is to ramp production of 4680s and improve quality Tesla expects to continue to be chip limited in 2022 and alleviate in 2023 and then Tesla expects to then be constrained by battery cell limitations Q&A $25k Car - Tesla is not currently working on this however it’s on the docket. Elon thinks autonomy will be the big answer to transportation instead of a more affordable EV. Home HVAC - Tesla views this as part of their mission and will address this problem someday. Easier problem then to solve when HVAC system is in a house vs a vehicle (not space constrained) Confident they can integrate this better than anybody else has before FSD Elon believes adding more licensing types for FSD is too complex and will instead focus on lowering costs for transportation overall Expects big gains to be made with robotaxi in terms of value Some significant advancements in FSD stack coming in next few months Elon will be shocked if they do not achieve FSD being safer than a human driver by the end of 2022 Dojo Will be brought online this summer and then it will be a question of how long until it is more useful for training than a GPU cluster Elon is waiting for GPU team to tell him Dojo is more powerful before shutting down GPU cluster He expects Dojo to surpass GPU cluster power in 2023 Dojo is not required for FSD however it will be important in terms of cost optimization of training from video clips Tesla Bot (Optimus) Tesla expects first use of the bot will be in their factories, first with simple tasks like moving parts around Tesla Insurance Currently offered 5 states in the US Pushing California hard to allow for informatics insurance Based on Texas, Tesla Insurance has a high take rate and customers appreciate the feedback loop As Teslas continues with their state-by-state rollout they plan to turn their focus to Europe in late 2022 CyberTruck Not factory constrained to achieve CyberTruck volume production Biggest issue is making CyberTruck affordable despite having awesome technology Goal is still to achieve 250,000 units per year Energy Storage Elon believes all energy storage use cases will use non-nickel batteries go forward Plan is to ramp however supply chain constraints are still top of mind and will limit growth in near term Overall Production Goal is to produce as many cars as possible and Tesla is confident they can hit their growth goals without introducing a $25k car at this time 10,000 unique parts per car so it is important to continue to drive simplification to reduce possible supply chain constraints Batteries 4680 form factory is being worked on by both Tesla and their partners Main focus is to drive down cost and increase efficiencies Not everything has to be 4680 according to Drew Links Tesla Q4 2021 Financial Results and Q&A Webcast Tesla Q4 2021 Shareholder Deck