Encountering a shortage of chips, Tesla CEO musk: you don't know how hard it is to make cars

On Monday, local time, Tesla, the electric vehicle manufacturer, released its first quarter earnings report for 2021, which showed that its revenue was nearly $10.4 billion and earnings per share was $0.93, exceeding Wall Street's expectations and making profits for seven consecutive quarters.
After the results were released, Martin viecha, head of investor relations at Tesla, Elon Musk, chief executive officer, Zachary kirkhorn, chief financial officer, and other senior executives attended the conference call to interpret the results and answer questions from investors and analysts.
Encountering a shortage of chips, Tesla CEO musk: you don't know how hard it is to make cars
Musk: Tesla broke the quarterly record again
Musk first introduced the overall performance of Tesla in the first quarter, saying that Tesla set a new record in the quarter. He said Tesla has seen a change in people's perception of electric vehicles and demand is stronger than ever.
"The demand for electric vehicles is the best we've seen, and that's why the first quarter of this year was so good compared to previous years," Musk said. In the past, first quarter results tended to be slightly weaker than other quarters. "
Musk also mentioned the victory of model 3 in the luxury electric car market, which even beat the old models such as BMW 3 series. As for model y, it is likely to become the best selling car in the world. Musk estimates that this will come true sometime in 2022.
As for Tesla's fully automated driving (FSD) software, testing has always progressed, although musk admits it is one of the most difficult technical problems to solve. Musk also stressed Tesla's focus on vision, reiterating his previous twitter statement that "radar will eventually fail.".
Musk said that solving the FSD problem requires massive data support. In this case, Tesla has an advantage because it has more than 1 million cars on the road, which should help the company deal with small probability situations. "We are confident that we can improve the FSD, even though it is quite tricky," Musk said
"In the first quarter, we experienced the toughest supply chain challenge Tesla has ever faced," Musk said in response to the current chip shortage that plagues the auto industry
As for model s and model x, musk points out that there are more challenges than expected. He listed a number of improvements in these vehicles, such as the adoption of new interiors, batteries, motors, and the introduction of many new features. Musk also added that Tesla has only made improvements to the cars it has already produced and may increase production in May.
Musk said model x should increase production in the third quarter of 2021. "Our goal is to produce 2000 model s and model x per week, and I believe there will be a lot of demand for these two flagship models," he said
Musk also said that the production costs of the new model s and model X are actually lower, and that factories in Berlin, Germany and Texas in the United States may start mass production next year. Finally, he thanks the Tesla team for their efforts.
Kirkhorn explained the delays in model s and model X and acknowledged that the delay was a negative factor for the company's finances. He also said Tesla was experiencing a number of challenges due to continued global supply shortages, but was working with partners to address them.
Kirkhorn revealed that Tesla made a profit of $272 million by selling about 10% of its bitcoin holdings.
Retail investors raise five questions
Retail investors began to ask questions, first about the dojo project. At present, people think of Tesla as an automobile and energy company, but in the long run, people should think of Tesla as a robot company, musk said. "I think we are building the most powerful hardware and software team in the world," he said Looking at the technological development of Tesla, people will find that Tesla has reached a level where it needs to provide more powerful things than the market.
Therefore, it is of great significance for Tesla to create a supercomputer to help train its neural network. Describing the idea behind the dojo project, musk said: "imagine a system that has very good eyes, can see all directions at the same time, is tireless, has redundancy, and has superhuman reaction time. Such a system will achieve a high level of security." We have more than a million cars on the road, which will provide a huge amount of data. Next year, the number will grow to 2 million.
According to musk, Tesla is actually becoming more and more good at automatic annotation, which is almost the "ultimate goal" of neural network training and the design goal of dojo. "We think the cost-effectiveness of dojo in terms of hardware and energy use may be an order of magnitude higher than the second best solution we know," he said. Maybe other people will use it, and we'd like to share it with you. "
The second problem is about solar roofs. Investors want to know the price rise and production increase of this product. Musk revealed that the demand for solar roof is very strong, but he admitted that Tesla made a mistake in assessing the difficulty of installing solar roof tiles. "You can't have a system for everyone," he said
Musk reiterated Tesla's decision to bundle Powerwall and its solar products, adding that last year's batteries had higher peak capacity. With the bundle, musk said, the difficulty of installation will be reduced a lot, and the installers don't even need to touch the circuit breaker of the house. According to musk, this is important to control the size of the installation.
Musk went on to discuss the potential of Powerwall, saying that the virtual power plant capability provided by this kind of home battery is impressive. This is particularly noteworthy given that the world is moving towards an era of "electric vehicles becoming the norm". In view of this, there must be a way to produce more electricity to meet the future demand of all electric.
Given Tesla's mission, this shift will benefit the company. "This represents a prosperous future for Tesla and power," Musk said. Otherwise, we will see more power supply crisis caused by Texas cold wave earlier this year, and power companies will not be able to provide services to customers. "