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Tesla stock jumps on Elon Musk's new product announcements at shareholder meeting
Shares of Tesla (TSLA) are trading higher following its shareholder meeting, which alluded to new offerings coming to market after the approval of Elon Musk's $56 billion pay package. Citi autos equity research analyst Itay Michaeli joins the Morning Brief to discuss why Tesla's product innovation is key to driving growth.
Michaeli notes that there is "a lot of anticipation for the next round of new products from Tesla." He explains that the company has mentioned introducing more affordable EV models, for which investors await two crucial factors: the price point and "the overall design and content of these vehicles." The main concern for investors will be whether these new vehicles can "generate the same type of hype" seen with previous Tesla models. If so, Michaeli believes it could drive substantial growth in the company's share price.
"We want to see a lot of innovation, maybe different design languages. Really whatever it takes... to create a lot of incremental excitement," Michaeli told Yahoo Finance.
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It Happened! Elon Musk Confirmed Stunning ALL-NEW 4680 Battery, Exclusive Tech Explains!
It Happened! Elon Musk Confirmed Stunning ALL-NEW 4680 Battery, Exclusive Tech Explains!
===
00:52 How is Tesla advancing the efficiency of their 4680 battery cell production?
07:57 What makes the 4680 battery the ideal choice for affordable Tesla cars?
13:30 What types of batteries can be used in the Tesla Model 2?
===
It Happened! Elon Musk Confirmed Stunning ALL-NEW 4680 Battery, Exclusive Tech Explains! Initially developed by Tesla for commercial electric vehicles like the Model Y, the 4680 battery cell boasts a potential energy capacity five times that of other electric vehicle batteries, at 26,000mAh. With the 4680 battery cells utilizing fewer raw materials in production, the Texas factory has achieved a significant milestone by producing 886,000 cells in just one week, enough for 1,000 Model Y vehicles, each equipped with a 75kWh battery pack.
It Happened! Elon Musk Confirmed Stunning ALL-NEW 4680 Battery, Exclusive Tech Explains! Approximately six months later, Tesla surpassed 10 million 4680 cells produced and has now reached the milestone of 50 million. What strategic objectives does Tesla aim to achieve by ramping up production of the 4680 battery cells on such a monumental scale?
It Happened! Elon Musk Confirmed Stunning ALL-NEW 4680 Battery, Exclusive Tech Explains! How is Tesla advancing the efficiency of their 4680 battery cell production?
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I worked at Tesla starting in July of 2017 as an Operations Analyst out of the Bethlehem, PA distribution center facility and left as a Program Manager based out of Austin, TX as of September 2021. I spent most of my time in the distribution and supply chain organizations.
Before Tesla, I was a Director of Business Intelligence and Pricing at the largest Pet Food & Supply distributor in the US, Phillips Pet Food & Supplies based out of Easton, PA. My wife and I also owned a small business in Bethlehem, PA between 2016 and 2019.
I have been a shareholder of Tesla since 2012 and currently own Tesla stock. Nothing I say constitutes as investment or financial advice.
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