Reporter of the Economic Business: Li Xing Pei Jianru Editor of the Economic Business: Pei Jianru
On August 4th local time, the 2022 shareholders' meeting of Tesla (TSLA, stock price of US$925.9, market value of US$967.093 billion) was held at the factory in Austin, Texas, USA. Tesla CEO Musk revealed important information such as Tesla's performance, new factory construction and future development plans at this shareholders' meeting.
At the shareholders' meeting, Musk said that we are now the company with the highest operating profit margin in the industry. Official data shows that in 2021, Tesla's operating profit margins in the four quarters were 5.7%, 11.0%, 14.6% and 14.7% respectively. Among them, in the fourth quarter of 2021, Tesla GAAP's operating profit was US$2.6 billion.
" Daily Economic News " reporter checked the public information and found that in 2021, the revenue of BMW Auto business was 95.476 billion euros, with a profit before interest and tax rate of 10.3%; the sales profit of Porsche reached 5.3 billion euros, with a return on sales rate of 16.0%; the profit before tax of mercedes-Benz was 29.1 billion euros, of which the adjusted sales profit margin of Mercedes-Benz passenger car and light commercial vehicle business segments were 12.7%.
Image source: Image provided by the company
Official data shows that in the first half of this year, Tesla's global total electric vehicle delivery volume was 564,000. Among them, the cumulative delivery volume of the main model Model Y in the first half of this year was about 314,900 vehicles, accounting for nearly 56% of Tesla's total delivery volume.
"From the perspective of revenue and sales, the Model Y will be Tesla's best-selling model this year." Musk said that in 2022, Tesla is expected to produce 1.5 million cars worldwide, and the annual production capacity of the factory will exceed 2 million by the end of this year.
According to Tesla's plan to achieve an average annual delivery volume of 50% growth within many years", Tesla wants to achieve a delivery volume of more than 1.4 million vehicles in 2022. Morgan Stanley analyst Adam Jonas predicts that Tesla's new car delivery volume will reach 1.46 million units in fiscal 2022, a year-on-year increase of 56%.
In Musk's view, for Tesla, the problem that has always been concerned is not the market demand for products, but the climbing problem of factory production capacity. "At present, Tesla users need to wait for up to one year to complete the delivery." Musk had previously stated publicly.
At present, in addition to the full production of the super factory in Shanghai and California , Tesla has also started production at the beginning of this year. According to Musk, in June this year, the single-week production of the Berlin factory exceeded 1,000 vehicles.
Image source: Image provided by the company
In addition to accelerating the production capacity of two new factories, Tesla has also expanded its production capacity to the Shanghai Super Factory, with an annual production capacity from the initial 450,000 vehicles to 750,000 vehicles, making it the factory with the highest production capacity at present. "The company's existing factories may compete, but it is difficult for Shanghai's super factory to be surpassed." Musk admitted.
According to Tesla's China plan, after the expansion of the Shanghai Super Factory will help Tesla increase the total production capacity of the Shanghai factory to 1 million vehicles per year, and the Shanghai Super Factory will become Tesla's largest automobile export center in the world.
According to the latest plan, by 2030, Tesla's annual sales target is 20 million vehicles. To this end, while Tesla is increasing its existing factory production capacity, it also plans to continue to build factories around the world. "After later this year, (we) will announce the site selection results of the company's latest factory." Musk said that in the future, Tesla is expected to build 100 to 12 super factories around the world, with each factory expected to have an annual production capacity of between 1.5 million and 2 million vehicles. Tesla is confident of achieving delivery volume of more than 100 million vehicles in 10 years.
In addition, at the shareholders' meeting, Musk also stated the mass production time of Tesla's electric pickup Cybertruck. "Cybertruck production plant equipment and tools have begun to be installed, and mass production is expected to be achieved by mid-2024," Musk said.
In Musk's view, the supply of power batteries is not the main reason for limiting Tesla's factory production capacity. "Our supplier's batteries can supply the Tesla factory to produce 1.5 million cars this year." Musk said that the company is expected to achieve mass production of 4,680 batteries by the end of this year.
In addition, the shareholders' meeting also officially passed Tesla's proposal to split 1 share in the form of bonus shares, further lowering the investment threshold.
As early as March 28 this year, Tesla announced its plan to split through Twitter . The plan to split 1 share and 3 shares was approved by the shareholders' meeting, and this plan to split will take effect and be implemented. After this share split, Tesla's share price is expected to drop from its current $925.9 (EST closing price on August 4) to around $300.
"After this stock split, Tesla's stock price has been lower, and ordinary consumers can afford it." Cao He, president of Quanlian Automobile Investment Management (Beijing) Co., Ltd., said in an interview with the WeChat account of "Daily Economic News".
Regarding the question of whether Tesla will repurchase stocks in the next few years, Musk replied: "With ensuring that we have sufficient funds and the future cash flow is stable, Tesla may repurchase stocks."
Cover image source: Han Yang, reporter of China Business News (data photo)
Daily Economic News
Daily Economic News
Daily Economic News
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