Tesla’s Austin factory triples production capacity to reach 5,000 Model Y units per week

News on May 17, Tesla’s 2023 shareholder meeting was held at the Texas Gigafactory, announcing many important news and plans.

It is reported that Tesla’s shareholder meeting first announced exciting news, and Model Y is expected to become the world’s best-selling car in 2023. Tesla versus Model Demand for the Y continues to grow and it has become the best-selling model in Europe and is performing well in the U.S. non-pickup market.

In terms of production capacity, Tesla’s Austin factory has also made a major breakthrough in production capacity, achieving 5,000 Models per week. Y’s production target. This marks a three-fold increase in the factory's production capacity and will be able to produce approximately 260,000 Model Y vehicles per year, making it fully prepared to meet market demand.

The Tesla shareholders meeting also touched on the impact of global economic conditions on the company. With the current economic environment not optimistic, Musk believes that the most optimistic estimate is that the economy will recover in about 12 months. He hopes investors will remain patient and view Tesla as a long-term investment.

In addition, the shareholder vote also showed support for Tesla’s executive compensation plan, and will vote annually to determine executive compensation. And the original CTO JB Straubel's election as a member of Tesla's board of directors reflects the recognition and trust of shareholders.

Grand Plan 3, which aims to enhance the efficiency of sustainable development and reduce resource extraction, was also discussed at the Tesla shareholder meeting. Musk said that battery production is a key factor in determining the speed of global sustainable development, and Tesla plans to increase the installation of solar and wind energy while increasing the annual production of batteries and electric vehicles.

Tesla expects future self-driving technology to make cars more valuable. According to Musk, achieving fully autonomous driving will greatly improve the efficiency of vehicle use, which is equivalent to a five-fold increase in the value of the car. Tesla is working on improving its neural network and control system to further improve the performance and safety of the FSD system.

Tesla is continuing to expand its Supercharger network, enabling Supercharger stations to achieve 99.95% uptime. In the United States, Tesla has a larger number of Supercharging stations, and its charging power and usage experience are significantly better than those of third-party charging operators.

In addition, Tesla also revealed the upcoming Cybertruck at the shareholder meeting and said that it is developing two mysterious new products. The release of these two new products will be introduced at a special press conference. Musk is very confident in these two new products and predicts that their annual output may exceed 5 million vehicles.

#The shareholders meeting also presented the progress of Tesla’s humanoid robot “Optimus Prime”. Optimus Prime, whose appearance and functionality have been improved, can perform more complex tasks and replace humans in repetitive, boring and dangerous tasks. Tesla’s team of artificial intelligence experts will continue to develop more powerful neural networks to apply fully autonomous driving systems to other areas.

In short, Tesla demonstrated the company's achievements and future development plans at the 2023 shareholder meeting. Tesla has achieved great success in the global automotive market through innovative products and technologies, and is committed to promoting sustainable development and the advancement of autonomous driving technology. The news and plans of the general meeting of shareholders have brought new expectations and opportunities to investors and users. ITBEAR Technology Information reported that Tesla will continue to be committed to promoting the progress of the electric vehicle industry to provide users with better products and services.

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