Tesla may have always managed to keep its events in physics with the pandemic, but it had been a long time since the company had been able to meet with its loyal shareholders for a meeting. Enough to transform a non-event into an event: called “Cyber Roundup”, the shareholders’ meeting on Thursday August 4 had a live webcast.
Elon Musk was able to take the stage, at a time when the man is fighting with Twitter in the face of the failure of his takeover attempt. Nearly three weeks after the publication of its second quarter results, the manufacturer addressed several points on his roadmap. To summarize the event, here are the 5 facts to remember.
1/ The action will be divided into 3
It was the most important vote of the evening in the eyes of the management team and the shareholders. A proposed split, coming for the next few weeks, will divide each share into three new shares, in order to lower the price of a share. The goal: to guarantee the accessibility of the Tesla title to the smallest shareholders. Currently, the manufacturer’s share price was on a sustainable basis above 1,000 dollars. So we should be able to find her between 300 and 400 dollars. This is not the first time that Tesla has carried out such an operation.
2/ 10 to 12 new factories
Elon Musk took the floor to revive the laziness and confidence of his shareholders, who were particularly determined to support his speech and boo every personality pointed out by the richest man on the planet. In his speech, in addition to a few jokes about his failed takeover of Twitter, he said that Tesla would consider building 10 to 12 new factories in the coming years. One of his main indiscretions concerns a potential plant in Canada.
3/ The FSD, again this year
He couldn’t help it: about the Full Self Driving (the 100% autonomous driving mode), Elon Musk once again made a point of saying that a generalized deployment was planned during the year for the beta version. In its progress, the mode would have exceeded 40 million miles (64 million kilometers) traveled and “I think this year we will have well over 100 million miles”, exclaimed the boss of Tesla. Like the Cybertruck, the FSD is always pushed back. Initially, the mode was released to a few customers in October 2020.
4/ A more ethical Tesla? It’s no
Several shareholder proposals were refused by the meeting, and we can see that a large part concerns issues of ethics and transparency. Thus, according to the documents sent to the SEC (the policeman of the American financial markets), the proposals for greater transparency on the reports of sexual harassment, sexist or racist remarks, on lobbying and child labor on the sites of Metal mining will not be part of the builder’s improvement plans. The same goes for requests for greater diversity on the board.