At 4:30 on September 23, Beijing time, the highly anticipated Tesla's annual shareholders' meeting and battery day event were held as scheduled at the Fremont factory in California. This is the first time that Tesla has held a press conference specifically for battery technology.

Everything Editor: Zhang Yangyun

Beijing time on September 23, 4:30, Beijing time, the highly anticipated Tesla Annual Shareholders' Meeting and Battery Day event were held as scheduled at the Fremont Factory in California. This is the first time that Tesla has held a press conference specifically for battery technology.

On September 23, Beijing time, the Tesla shareholders' meeting began, and Tesla shareholders voted offline and online on a number of company issues. At around 5:10, the shareholders' meeting ended and the highly anticipated "Battery Day" event began. Tesla CEO O Elon Musk took the stage to start his speech.

Musk: Looking forward to the Shanghai factory achieving a production target of 1 million cars per year

Musk said that Tesla's returns in the past year are relatively ideal, and I believe the future will be very good. In the past year, our Shanghai team has built a factory within 15 months in terms of factory expansion. We, Tesla, is the only automobile company in China with 100% foreign investment. We look forward to the Shanghai factory achieving a production target of 1 million vehicles per year.

Pictures from Tesla Weibo Live

Musk: I hope that there will be a Tesla factory in every continent in the world

Musk said that our vision is to have our factory in every continent. This can guarantee company liquidity and delivery cycle activities. We currently have factories in China, two factories in the United States, and also factories in Europe. We hope to build factories in Australia in the future.

Musk: Tesla's delivery volume can still grow by 30% to 40% in 2020

Musk said that Tesla's delivery volume increased by 50% in 2019. In 2020, despite the impact of the epidemic, Tesla's delivery volume will still grow by 30-40%.

Musk: The beta version of the fully autonomous driving system Autopilot will be released in the next month about a month. Musk said that the industry average of autonomous driving is that there will be 2.1 accidents per million miles. If Tesla Autopilot is enabled, the probability of accidents is only 0.3 per million miles. Musk said he believes Tesla's self-driving vehicles can be 10 times safer than humans.

Image from Tesla Weibo Live

Musk: Tesla plans to cut the cost of battery production halved

Musk said they will build a car at a reasonable price, but the cost of the battery must be reduced. The early progress is good, but the downward curve is getting flat, so they need to rethink this issue. Tesla plans to cut production costs in half.

Musk: Tesla will double the battery diameter

Musk said that Tesla's battery size has increased from 1865 to 2170 now (the first two numbers are diameters and the last two numbers are lengths), and will now increase to "4680". The new "4680 battery" will take about a year to reach 1 GW of production capacity, but Tesla is considering increasing it to 2 GW per year. Just a change in appearance factors can reduce the cost per kilowatt-hour by 14%, but Tesla hasn't done that yet. The design of the nude ear will make the electronics travel shorter, solving one of the biggest problems in increasing the battery diameter. This makes the battery module easier, faster and continuously produced.

Musk: The new "4680" battery has a 16% range increase

Picture from Tesla Weibo Live

Musk said that the size of Tesla's battery has increased from "1865" to "2170" now (the first two numbers are diameters, the last two numbers are lengths), and will now increase to "4680". The new "4680 battery" will take about a year to reach 1 GW of production capacity, but Tesla is considering increasing it to 2 GW per year. The new battery can reduce costs per kilowatt-hour by 14% and increase range by 16%.

Musk: We will use the new raw silicon material to make batteries

Musk said that we will use the new raw silicon material to make batteries on a large scale, which only costs 1 USD/kWh of manufacturing costs and increase the range by 20%.

is completely cobalt-free! Tesla will use 100% nickel battery in energy-intensive models

Musk announced that they will switch from "cobalt" models to "nickel" models. This solves the problems raised earlier. This can also improve efficiency.In energy-intensive models (Cybertruck/Semi), Tesla will use 100% nickel support, while other models will use a combination of nickel with other chemicals. This ensures that mass production is possible. Musk reiterated that he hopes more people will mine nickel.

Musk: A lithium conversion factory will be established in North America

Tesla announced the establishment of a positive electrode production factory in North America, and will establish a lithium conversion factory there. Musk stressed that lithium is a widely available resource and is one of the most common resources on the planet. Nevada alone is enough to power all vehicles in the United States. The company has obtained the right to mine a soil lithium-containing ore in Nevada, USA.

Musk: I am confident that I can build a fully self-driving car worth $25,000 in about three years

Musk said that I am confident that I can build a very attractive fully self-driving car worth $25,000 in about three years. It is hoped to produce about 20 million cars each year, but this will take 1-3 years to achieve.

Musk: Tesla starts its full life cycle recycling program in the next quarter

Musk said the company plans to take over recycling its own batteries. Tesla will start the process at a Nevada factory. Currently, Tesla and other companies rely on third-party providers to provide this recycling service. The long-term plan will allow Tesla to make new batteries from old batteries, thereby improving environmental impact.

Tesla will build the battery directly into the car structure, and the cost per kilowatt-hour will be reduced by 7%

Musk said it will build the battery directly into the car structure, and the innovation is inspired by the fuel tank on the aircraft's wings. Structural batteries will reduce the overall weight of the vehicle. This will reduce the total number of parts required (370 parts reduction) and speed up production. And most importantly, this will also reduce the cost per kilowatt-hour by 7%.

Model S delivery date is scheduled to end next year, with a range of more than 520 miles

Tesla announced the Plaid version of the Model S, which is now available (in the United States) for pre-orders, with delivery dates scheduled for the end of 2021. This will be Tesla's longest range to date, with over 520 miles (836 kilometers). The model is sports car-level and can accelerate to 160 mph in less than 2 seconds. The regular version of the model costs $89,490 and the triple-motor version costs $134,490.

As of press time, Tesla's stock price fell by more than 7% after the session and is now down 6.06%. What impact does

have on the A-share market?

China Merchants Bank International pointed out that looks at Tesla battery day with the mindset of story puzzles. The development of

power batteries directly affects the development of the new energy vehicle industry in terms of cost and performance. Tesla currently mainly cooperates with Japan's Panasonic in terms of batteries (cylindrical 18650 and 21700 batteries), and has successively reached procurement agreements with LG Chem and CATL to maintain its core competitive advantages in the battery field by cooperating with upstream suppliers. But at the same time, Tesla started cooperation with Jeff Dahn's team in 2016. Since 2019, Tesla has acquired Maxwell and Hibar, hoping to complete the production of batteries in various aspects such as materials, processes, and equipment. Tesla has announced its own battery production plan, Roadrunner, which is expected to lead the development of the entire power battery industry, and will extend to the field of grid energy storage.

Minsheng Securities pointed out that Tesla battery day is expected to drive sector investment enthusiasm . The technologies that are expected to involve cobalt-free batteries, dry electrodes, silicon nanowire negative electrodes, and new electrolyte . It is recommended to pay attention to investment opportunities in Tesla's supply chain. The price of lithium hexafluorophosphate has rebounded recently. Due to the long expansion cycle of lithium hexafluorophosphate, the supply and demand of lithium hexafluorophosphate is expected to be tight in the second half of the year. recommends paying attention to the investment opportunities of lithium hexafluorophosphate and electrolyte companies that produce self-produced lithium hexafluorophosphate .

In addition, Guoyuan Securities pointed out that Tesla's technology leadership in software, battery and power assembly is recognized. For battery technology, every innovation has a far-reaching impact on the new energy vehicle industry, from material systems to structural design or manufacturing processes.