Skip to main content

Elon Musk Joined a Twitter Space and Had THIS to Say About Tesla

Elon Musk joined a Twitter space and spent about 2 hours answering questions about Tesla. Here is what he had to say.
Elon Musk Joined a Twitter Space and Had THIS to Say About Tesla

Elon Joins Twitter Spaces Discussion

Elon Musk had a lot to say today when he joined a Twitter Spaces discussion and he had many people asking him questions about Tesla. Here is what Elon Musk had to say:

1: Interest rates are hurting growth stocks and the stock market overall

2: Interest rates are also hurting the car and housing market. This is because cars and houses are generally bought with debt which requires paying interest. Interest is higher right now and thus debt is more expensive.

3: There is a softening of demand globally for all houses and cars. Elon Musk's political comments have had little impact on any of this demand.

4: Tesla will continue to sell vehicles and lower prices if necessary. Even if Tesla has to sell products and not make a profit, it will do so, in order to prepare for robotaxis and FSD.

5: Elon Musk is less overwhelemd by Twitter after about a month, thus his attention is coming back to Tesla.

6: Twitter is past the first difficult hump of work from Elon Musk. The first month took a lot of cofnitive load and now that load is a lot less.

7: There is nothing more Elon Musk can do to improve the fundamentals of Tesla. Twitter is not taking anything away from his work with Tesla.

You may also be interested in:

Elon Musk and the Future of Tesla

There was more Elon Musk had to say on the future of Tesla:

8: Elon Musk won't sell anymore stock for the next 18 to 24 months. Definitely next year he won't be selling any stock and most likely none in 2024.

9: Elon Musk has not missed any important meetings for Tesla. He is still actively involved with Tesla.

10: Elon Musk's involvement with Twitter gets an outsized amount of attention that doesn't quite reflect reality.

11: Elon Musk expects more economic pain and drama, similar to 2009.

12: Elon Musk expects that out of all companies which are making large and expensive products, that Tesla is going to whether the recession the best.

13: There needs to be refining capacity for Lithium. Lithium is a very important mineral and because there is a bottleneck at the refining level, Tesla is building a refinery in Corpus Christi.

14: Elon Musk expects a meaningful volume in 2 years from this Lithium refinery in Texas.

There's much more:

15: There is a cathode factory in Austin, Texas that is for Nickel chemistries.

16: Elon Musk is expecting some reduction in cost in battery materials. There's latency in cost reductions.

17: Tesla is spending capital as fast as possible without being wasteful. Elon Musk will propose a buy back of stock, but only once it is known what the economic recession will be like.

18: Tesla is also close to picking the next giga factory location. Many think this is going to be in Mexico.

19: Tesla has no debt and $20 billion in cash. Tesla is in a great position for stormy waters.

20: Tesla needs to see how stormy the waters are for the current economic recession. Once it figures this out, it can decide how to allocate capital with stock buy backs and other things.

There's much more to this and you can view them in the Twitter thread from "The Limiting Factor"

My interpretation of Elon Musk joining the Twitter Spaces today is that he is very confident in Tesla's future and that there is still a lot of work to do. Elon Musk is using Tesla products and Twitter every day.

Elon Musk also says that Tesla is more complex than Twitter and I agree with this. With software, once you get it down, you are pretty much good to go, but physical manufaturing is much more difficult.

Did you join the Twitter Spaces today? If you didn't, here's a great summary of it from Farzad Mesbahi:

Leave your comments below, share the article with friends and tweet it out to your followers.

Jeremy Johnson is a Tesla investor and supporter. He first invested in Tesla in 2017 after years of following Elon Musk and admiring his work ethic and intelligence. Since then, he's become a Tesla bull, covering anything about Tesla he can find, while also dabbling in other electric vehicle companies. Jeremy covers Tesla developments at Torque News. You can follow him on Twitter or LinkedIn to stay in touch and follow his Tesla news coverage on Torque News.

Image Credit, Tesla, Screenshot

Auto Sector Stocks
Automotive News
Electric Vehicle News and Reviews
Tesla

Comments