Highlights from Tesla’s Q1 2022 Earnings Call

Tesla surging order rate in the US - Model Y production at Giga Berlin (Photo credit: AFP)
Model Y production at Giga Berlin (Photo credit: AFP)

The Tesla Q1 2022 Earnings Call just wrapped up.

Elon Musk jumped on the call along with several Tesla executives, but there were not that many unexpected announcements.

Here are some of the highlights.

Growth Rate

Even with Giga Shanghai shutting down for almost a month, Elon and the executive team believe that Tesla will still achieve a 50 per cent growth rate in 2022. Elon also stated he thinks the company has a reasonable shot at 60 per cent.

Robotaxi

Musk followed up his announcement at Cyber Rodeo and discussed the robotaxi. The goal for the vehicle is to have the lowest cost per kilometre possible, and the vehicle will not have a steering wheel or pedal. He did not want to chat too much about the vehicle but stated they should have a product event on the robotaxi next year. The company also hopes to be in a position to go into volume production in 2024.

Cybertruck

Musk confirmed that the Cybertruck will be in volume production in 2023.

Optimus

Musk chatted a little about Optimus and hopes to release more information in the coming months. He believes that Optimus will be worth more to Tesla than the vehicles and full self-driving.

Giga Shanghai

The Tesla executives chatted about the shutdown in Shanghai, but they believe that Tesla China will have the plant breaking weekly records soon enough. The shutdown will likely mean car production numbers will be the same or a little lower in Q2.

Full Self-Driving

Musk chatted about FSD and how it has had the most false dawns of any project he worked on. The issue is that they are trying to solve real-world AI, but they are also dealing with a road system that is not built for AI. So, it has been a challenge, but he noted that Tesla should breakthrough this year.

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Originally from the West Coast, Scott is an avid writer & EV enthusiast now living in Ottawa. He holds a MA in Political Science and once played professional football in the German Football League. Email scott@driveteslacanada.ca