Genetec - A baby step

Tesla 2023 shareholder meeting: Musk talks Cybertruck, economy, advertising

Genetec A baby step
Publish date: Wed, 17 May 2023, 01:01 PM
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Key Points
  • Tesla held its 2023 annual shareholder meeting in Austin, Texas, on Tuesday.
  • Among other things, shareholders voted to add Redwood Materials CEO JB Straubel, previously CTO of Tesla, to the company’s board as an independent director.
  • CEO Elon Musk also revealed that the company will conduct third-party audits of its cobalt supply chain to ensure there is no child labor within it.



Tesla CEO Elon Musk addressed shareholders at the company’s annual meeting on Tuesday, predicting the economy would pick up after 12 months and promising the company would deliver production Cybertrucks later this year.

Highlights included:

  • CEO Elon Musk said Tesla will deliver its first Cybertrucks this year, and should be able to deliver 250,000 to 500,000 a year once production has started. He said he’ll drive a Cybertruck on a daily basis.
  • The economy will be in the doldrums for the next 12 months, and many companies will go bankrupt, but Tesla will be well positioned for the long run.
  • The Model Y will be the “No. 1 selling car on earth this year”
  • Tesla may reconsider its long stance against traditional advertising: “We’ll try out a little advertising and see how it goes.”
  • Tesla plans to produce a new kind of drive unit, which Musk said will require less silicon carbide than prior drive trains, and no rare earth elements. Tesla will also switch to a new, low voltage architecture in its cars which should require less copper.
  • JB Straubel, former Tesla CTO and current leader of e-waste recycling company Redwood Materials, was voted onto the board as an independent director.

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