![]() ![]() There’s still some way to go to reach the full run rate of 40 gigawatt hours per year. It’s by far the strongest quarter ever and this growth was achieved thanks to the ongoing ramp at our Megafactory in Lathrop, California. Our energy storage deployment reached nearly 4 gigawatt hours in Q1. So let’s, see with regards to Megapack we’re making great progress. It’s not made in this in the way that other cars are made. So it’s - a demand for the product obviously, it is - might be a fantastic product a Hall of Famer but as with all new products it takes time to get the manufacturing line going and this is really a very radical products. As with all new products it’ll follow an S-curve of - so production start up slow and then accelerates. It’s a great product and we’re completing the installation of the volume production line at Giga Texas and we’re anticipating having a delivery event - a big, a great delivery event probably in Q3. Let’s see, regarding the Cybertruck we continue to build Alpha versions of the Cybertruck on our pilot line for testing purposes. So we do believe we’re like laying the groundwork here and then it’s better to ship a large number of cars at a lower margin and subsequently harvest that margin in the future as we perfect autonomy. However we expect our vehicles over time will be able to generate significant profit through autonomy. We’re taking a view that pushing for higher volumes and a larger fleet is the right choice here versus a lower volume and higher margin. And while we reduced prices considerably in early Q1 it’s worth noting that our operating margin remains among the best in the industry. I don’t think I’m telling anyone they - anything people already know especially with large purchases such as cars. It is worth pointing out that the current macro environment remains uncertain. And this is in spite of a lot of challenges in production and delivery so it’s a huge credit to the Tesla team for achieving these great results. Model Y became the best-selling vehicle of any kind in Europe and the best-selling non-pickup vehicle in the United States. īut before we jump into Q&A, Elon has some opening remarks. Actual events or results could differ materially due to a number of risks and uncertainties including those mentioned in our most recent filings with the SEC. These comments are based on our predictions and expectations as of today. During this call we will discuss our business outlook and make forward-looking statements. Central Time in the update deck we published at the same link as this webcast. ![]() Our Q1 results were announced at about 3 P.M. My name is Martin Viecha, VP of Investor Relations and I’m joined today by Elon Musk, Zachary Kirkhorn and a number of other executives. Good afternoon everyone and welcome to Tesla’s First Quarter 2023 Q&A Webcast. ![]() Philippe Houchois - Jefferies - Analyst Presentation: George Gianarikas - Canaccord Genuity - AnalystĮmmanuel Rosner - Deutsche Bank - Analystīen Kallo - Robert W. Roshan Thomas - Vice President, Supply Chain Analysts: Karn Budhiraj - Vice President, Supply Chain Zachary Kirkhorn - Chief Financial OfficerĪndrew Baglino - Senior Vice President, Powertrain and Energy Engineering Tesla Inc ( NASDAQ:TSLA) Q1 2023 Earnings Call dated Apr. ![]()
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