Tesla 2023 Shareholders Meeting - new motor, two new products, Cybertruck deliveries later this year, and more

17 May 2023, 07:28:52

At the Tesla 2023 Shareholders Meeting Elon Musk made several key announcements. Here's a brief recap of what he said.

Next Gen Drive Unit. The announcement of the next-gen drive unit was the first more noteworthy one among a few. As already stated before, during the development stage, this next-gen drive unit uses zero rare earth materials. It requires 75% less Silicon Carbide and reduces gigafactory footprint by 50%. In addition, its all-in cost is around USD 1,000.
Insourcing of controllers and a new 48V architecture. The second important announcement was that Tesla is insourcing controllers. The graph that was shown depicts that the percentage of Tesla-designed controllers is increasing with every new model and will reach 85% in the Cybertruck and 100% in a next-gen vehicle target.
Two new products. Elon Mentioned that Tesla is working on two new products. Only one was teased and it is definitely a car. Mr Musk said that "both the design of the products and the manufacturing techniques are head and shoulders above anything else that is present in the industry." He did not elaborate on whether these are the upcoming updates of Model 3 dubbed "Project Highland" and Model Y dubbed "Project Juniper." Gigafactory Mexico will be manufacturing the next-gen vehicle.
Cybetruck deliveries scheduled for later in 2023. This announcement was highly approved by the audience and Elon Musk said the Cybertrucj would be his vehicle for day-to-day driving.
Gigafactory Nevada is expanding. It will accommodate a new line for producing the Tesla Semi and for producing 4680 battery cells.
Gigafactory Mexico will manufacture the next-gen vehicle. The second reference to the next-gen vehicle hints that probably it is not about the two new products but totally news ones that will arrive later in the future.

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