The massive, big message Tesla CEO Elon Musk and different execs tried to impart throughout its four-hour Tesla Investor Day was how the corporate could be the driver of a worldwide shift away from fossil fuels and in the direction of renewable vitality. Buyers, at the very least these energetic after the market closed, weren’t impressed maybe as a result of it lacked that large product announcement, particular particulars on the subsequent step in its so-called grasp plan 3 or Musk’s signature “another factor” line.
Shares of Tesla fell 5.66% in after-hours buying and selling.
A lot of the occasion was extra historical past lesson than a forecast of future enterprise — though the nuance was that, in fact, all roads result in the longer term. And huge sections of the occasion have been devoted to operational efficiencies and efforts to scale back value at just about each stage of firm. (which usually buyers like).
Maybe probably the most attention-grabbing elements are what was not stated. Musk and an unusually lengthy lineup of division leads didn’t share new particulars on Tesla’s next-generation EV and its upcoming manufacturing facility in Mexico nor did they handle present points with its Full Self-Driving software program that’s at present unavailable to those that opted to purchase the $15,000 possibility on account of a recall.
Nonetheless, there was some information and insights from the occasion. Right here’s a roundup highlighting the large stuff.
20 million EVs a yr by 2030
Picture Credit: Tesla/screenshot
This isn’t a brand new purpose for Tesla. However a string of executives, who got here on stage to speak about every thing from manufacturing and uncooked supplies to design, charging and batteries, all actually tried to show their case for how they’d attain that purpose.
The slide above reveals the prevailing portfolio, the Mannequin S, Mannequin X, Mannequin Y and Mannequin 3 — in addition to the Tesla Semi and the Cybertruck, and two veiled automobiles.
It’s price wanting on the 20 million automobiles per yr quantity for a little bit of a actuality verify. Tesla produced 1,369,611 and delivered 1,313,851 automobiles in 2022. Toyota, the worldwide gross sales chief, bought 10.5 million automobiles final yr.
Meaning, and observe the maths, Tesla would wish to extend its manufacturing (and gross sales thoughts you) about 15 instances from 2022.
So, how will Tesla obtain this? Musk stated it’s not a requirement downside (a phrase he has used repeatedly previously). The robust half is constructing the darned issues, he stated. Tesla’s solutions are: vertical integration, scaling present factories and constructing new ones, making the manufacturing course of extra environment friendly and including a couple of extra fashions. (However, curiously, not too many; Musk stated perhaps 10 fashions complete).
Vertical integration and slashing prices
Tesla is known for its fixed push in the direction of vertical integration. It’s the one automotive firm in latest reminiscence that took on making its personal seats, as an illustration.
That message continued on the investor occasion, with executives discussing completely different items of the vertical-integration purpose. Tesla has introduced in home already, together with building its own chip. However the firm has continued to push the bounds of vertical integration, proper right down to the software program it makes use of for in-house operations. Execs stated that just lately that removed an outsourced software program for recruiting to make use of its personal and that it developed its personal purpose-built microprocessor for high-power electronics that may cut back prices by half.
For Tesla, vertical integration equals value reductions. And that’s one of many large goals to attain that larger mission.
Lithium plant in Corpus Christi
Picture Credit: Tesla/screenshot
Tesla has even prolonged its vertical integration efforts to the supplies it makes use of in battery cells.
Tesla formally broke floor at a brand new lithium refinery in Corpus Christi, Texas, Drew Baglino, senior vice chairman of powertrain and vitality engineering, confirmed through the occasion.
Through the presentation, Tesla confirmed a rendering of the 50 gigawatt-hour per yr lithium refinery. The corporate’s messaging round velocity and scale continued with the refinery mission, as Baglino famous they’re working to have it operational by the top of 2023.
“It is a good instance of one thing the place we’re principally speaking about breaking floor and and beginning commissioning inside 10 months and with precise manufacturing inside 12 months,” Baglino stated. “That’s the goal.”
Musk added later, throughout a Q&A session, {that a} cathode processing facility will finally be constructed adjoining to the lithium refinery. He additionally famous that the corporate would like if others took on lithium mining.
“We’re doing it as a result of we have now to not as a result of we wish to,” Musk stated.
Mexico manufacturing facility
Picture Credit: Tesla/screenshot
Mexico President Andrés Manuel López Obrador technically broke the news Tuesday, however Musk reiterated the announcement with out sharing any new particulars except for a rendering.
“We’re excited to announce that the subsequent Tesla gigafactory might be in Mexico close to Monterey,” Musk stated. “We do wish to emphasize we’ll proceed to develop manufacturing in any respect of our present factories, together with California, Nevada, right here in Texas, Shanghai, so we intend to extend manufacturing in any respect factories. So the Giga Mexico could be supplemental to the output of all the opposite factories.”
Musk went on to tease a grand opening occasion on the manufacturing facility.
Subsequent-gen automobiles
Picture Credit: Tesla/screenshot
As we talked about above, Tesla displayed two veiled automobiles through the presentation, hinting at the way it will construct its next-generation of automobiles on a totally completely different platform design. An enormous a part of that design is constructing in a method that depends on automation to scale quicker and cheaper.
“It’s going to look one thing like this the place we construct all the perimeters of the automobiles independently, we solely paint what we have to, after which we assemble the elements of the automotive as soon as, and solely as soon as. We put them the place they should go,” Baglino stated.
Baglino famous that this could imply extra individuals and robots having the area to work on separate items of the automotive, relatively than lugging heavy objects to a central buildout. What that appears like on the manufacturing facility ground is sub-assemblies, whereby the entrance, rear and ground with seats are assembled individually, after which put collectively at remaining meeting.
“To extend the dimensions of adoption of electrical automobiles to the orders of magnitude that we simply confirmed you, we have now to make constraints a part of the answer,” he stated. “It leads us to larger than 40% discount in footprint, which suggests we will construct factories quicker, with much less capex and extra output per unit greenback.”
Whereas that theoretically sounds neat, factories are harmful locations and when extra individuals work in nearer quarters, accidents can occur.
Neither Baglino, Musk nor head of design Franz von Holzhausen gave extra particulars on next-generation automobiles. The one trace: This next-gen design might also be used on the Cybertruck, in accordance with Baglino.
Uncommon earths
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As a part of Tesla’s next-gen design, the corporate is growing a brand new drive unit that it says might be extra scalable, largely as a result of it can finally eradicate the usage of uncommon earth supplies.
“Now we have designed our subsequent drive unit to make use of a everlasting magnet motor to not use any uncommon earth supplies in any respect,” stated Colin Campbell, VP of powertrain engineering, noting that the brand new drive unit value has been decreased to $1,000. These financial savings might, in concept, be handed onto the patron to make for a extra accessible, inexpensive EV.
Tesla stated its subsequent powertrain may also use 75% much less silicone carbide with out compromising efficiency or effectivity of the car. The brand new powertrain can be suitable with any battery chemistry, which is able to give Tesla extra flexibility in battery sourcing, stated Campbell. Lastly, Tesla’s new powertrain manufacturing facility is seemingly 50% smaller than the present one in Austin, which Campbell stated means quicker scaling of EV manufacturing.
Warmth pumps
The third a part of Tesla’s Grasp Plan Half 3 is to modify house, enterprise and industrial heating to warmth pumps. Most of that portion of the presentation was only a Local weather Tech 101 on the sick results of conventional heating techniques and the way warmth pumps might assist. Musk stated in some unspecified time in the future Tesla may think about constructing warmth pumps for the house to assist resolve this downside.
Tesla already produces warmth pumps for its automobiles, so increasing into properties wouldn’t be far out of left area. However in case you have a gasoline or oil heater, the excellent news is you don’t have to attend for Tesla to interchange it. Loads of different corporations already do that, together with Sealed and BlocPower.
Charging and vitality storage
Picture Credit: Tesla
Tesla broke up its info-dump with some bulletins, and a number of other hints, on the way forward for its EV charging and vitality storage companies. Most concretely, the automaker formally launched Magic Dock, an improve to Tesla’s charging stations which opens them as much as automobiles that aren’t Teslas. Rolling out the tech will allow Tesla to faucet into billions in federal subsidies.
Tesla additionally stated it can add a $30 “limitless in a single day house charging” plan to Tesla Electrical in July. An invitation-only electrical plan, Tesla Electrical is completely accessible to Powerwall havers in elements of Texas the place retail choice exists. Tesla added that it goals to develop its electrical plan into different areas — “market by market, in the identical method that we’ve approached Tesla insurance coverage.” The corporate supplied no particular dates.
Later, the automaker stated it will debut new vitality storage merchandise in 2023. One chart shown to investors appeared to depict new megapack and powerwall designs, additionally hidden beneath illustrated veils. Take this with a grain or extra of salt; Tesla has a observe file of lacking its personal deadlines.
Robotic
Picture Credit: Tesla/screenshot
Tesla teased somewhat extra details about its humanoid robotic, the Optimus, with a video displaying two robots slowly constructing one other bot — an enormous step up from the prototype Tesla showed last October at AI Day.
As normal, Musk said that Optimus might be price considerably greater than the automotive aspect of issues. Optimus is educated utilizing the identical AI that trains Tesla’s Autopilot and FSD, and Musk detailed how even a lot of the {hardware} for Optimus is taken from Tesla’s automobiles.
“The actuators in Optimus are all customized Tesla actuators,” stated Musk. “We designed the electrical motor or the gearbox, the ability electronics, clearly the battery pack and every thing else that goes into Optimus. The identical workforce that designed the groundbreaking electrical motors which are within the Mannequin S Plaid designed the actuators within the robotic.”
What this implies, stated Musk, is that Tesla has the instruments to carry an precise humanoid robotic product to market at scale. Now it’s only a query of timing. And likewise, apparently, of what the ratio of people to humanoid robots might be. Musk reckons it’ll be larger than one-to-one as a result of the robots can be utilized at properties, in industrial use circumstances and extra.
How the robotic matches into Tesla’s Grasp Plan Half 3, which is concentrated on a sustainable vitality future for Earth, isn’t precisely clear.
