Tesla, Inc. (TSLA) Earnings Call Transcript & Summary

[Presentation] Welcome. Welcome to the Cybertruck Delivery Event. So I'm going to do it from the back of the truck here. So once in a while -- once in a long while, a product comes along that is rare, that is once every 5 to 10 years, something really special, a really unusual product comes along. And we'll remember those special moments -- when -- Indeed. Special moments. So -- but these things are rare. It's very rare that a product comes along that is seemingly impossible, that people said was impossible, that experts said was impossible. And this is one of those times. We have a car here that experts said was impossible, that experts said would never be made that it really is the most -- I think it's our best product. I think it's the most unique thing on the road. And finally, the future will look like the future. So what we're aiming for here is something that has -- that's more truck than truck.

[indiscernible]

Okay. Thanks, bro. That's literally my brother there. So -- and so what we have here is something that is a better truck than a truck while also being a better sports car than a sports car in the same package. So first of all, let's -- they talk about how trucks are tough. That's one of the defining characteristics of a truck. So how tough is this truck? Let's find out. So we actually had to come up with a special ultra-strong Tesla designed steel alloy. So this alloy -- this metal did not exist before. We needed something that you could actually manufacture, but that would be -- have basically no corrosion that then need paint, but you can still make it a volume. And part of the reason that it has this angular shape is you can't actually stamp these body panels. The body panels would break the stamping machine. So -- and I should say also the -- because of the steel exoskeleton, it actually has more torsional rigidity than a sports car. It has more torsional stiffness than a McLaren P1 -- so it's -- that's very -- that's a big deal -- now you may remember an incident 4 years ago -- it didn't quite go as planned. And [ France ], maybe we should try it again. Yes. Great. I mean I think we could probably have a [ pro ] picture, [ love it though ], if it's still work. So anyway, the glass is tough, basically. That's what we're saying. So you don't have to worry about like rocks hitting the glass and cracking the glass, this glass is basically rock proof. It also makes the car very quiet. So it's -- the thing that you'll appreciate when you drive the car is that -- is how smooth and quiet it is. It feels -- it doesn't feel like a normal truck. It's smooth as silk and silent when you drive it. And yes, so in terms of toughness. And then things like rollover because the center of gravity is so low, it doesn't roll over. And if you have an argument with another car, you will win. [Presentation]

Yes. So -- In movies, you sometimes see the hero or heroine hiding behind the car door while being shot with bullets. That doesn't actually work unless you're driving a Cybertruck. So if Al Capone showed up with a Tommy gun and emptied the entire magazine into the car door, you would still be alive. So people say like, well, why did you make a bulletproof? I'm like why not? Do you want to -- how tough is your truck? Because the other trucks, the bullets go through both sides. So you should -- bullets go through both sides of the car. And you just never know. I mean sometimes you get these like late civilization vibes. You'll never know when the -- the apocalypse could come along at any moment. And here at Tesla, we have the finest in apocalypse technology. I was on the Joe Rogan show, and Joe bet me a dollar that his armor-piercing steelhead arrow would go through the car. It hit, now he owes me a dollar. Now what about utility? So strength is great. But is this perhaps just a show truck, just a showpiece or can it do actual work? How does it work as a real everyday truck? Well, here we have the future towing the future. So basically, if you can fit any cargo in the trunk or in the bed, you can basically move it around. So it's got over a ton of payload capability, but you could really put more than that in it. You can tow over 11,000. And it's got a super tough composite bed, no liner needed. The bed is 6-foot long, 4-foot wide, and you can fit 4x8 piece of plywood with the back down. So for those who are early into the truck world, there's something in the truck world called a truck pool. This is really the key test of how much power does your truck actually have. So you have to pull this 40,000-pound sled. And when we went to the truck, we said, "Well, well, what's the best that you've seen?" I said, "Well, it'd be the fourth F-350 diesel, which like, well, let's put our truck up against that. The guy who runs the truck pool said, that's just no way. There is no way. I said, "Well, let's try it. Let's see what happens." [Presentation]

So we actually had to slightly turn the car at the end so it didn't hit the wall. So this -- you have to hear a car that is -- well, bullet tough. I like that phrase, [ TM ]. And can outpull an F-350 diesel, has a massive towing capacity, massive bed. It's basically an incredibly useful truck. It's not just some grandstanding showpiece like me. It's actually very useful. Now what about performance? [Presentation]

So this -- I would say it has an adaptive S suspension. So no matter what the load is, it will -- you can always have the -- it can set the ride height at any -- at low height anything. It will automatically adjust the damping according to how much load it's carrying and the road conditions. Has a 17-inch ground clearance. That's a true 17-inches. Typically with a truck, you'll get the differential hanging down low at the rear differential, and that's what you'll high side on a rock. But this is -- this has a completely flat bed. So you could drive over basically anything. We actually took the Cybertruck on a Baja rally drive. So this is insane off-road capability. It has locking differentials, rear torque vectoring. And the crazy thing is we'll do this all in comfort. It has steer-by-wire, which is -- it's one of the things where most people don't know what that means, but it's what -- it's how modern jets are designed, the steer-by-wire, which gives you a variable gain. So if you turn the wheel a small -- the steering wheel a small amount in the parking lot, it will turn the wheels a lot. But if you turn it on a highway, it turns the wheel a small amount. So it dynamically adjusts how much the wheels turn according to what your speed is. And this actually makes it very easy to drive. It actually -- and it has a turning circle less than a Model S. So those things can practically turn it -- rotate on a dime basically. It has incredible low-speed maneuverability. And then there's a lot of advanced details under the skin. It's the first time that a car is moving to a 48-volt low-voltage architecture from 12 volts, which has been around for 100 years. We have Ethernet comms, distributor controllers allows for 70% less wire in the car. And it's really -- the internals are as advanced as the externals. It's a whole new step change in the technology. So let's take it to the racetrack and see how does the Cybertruck perform against the Porsche 911. And I should say this is an actual Porsche. We literally just got it from the dealer 2023, Porsche 911. [Presentation]

But wait there's more. [Presentation]

So that -- It can tow a Porsche 911 across a quarter mile faster than the Porsche 911 can drove by itself. I should say tougher than bullets. Tow pretty much anything, faster than 911, while towing a 911 and deliveries begin now. Thank you. [Presentation]

These are the actual owners. We're handing over production Cybertrucks to our actual owners. Thank you for buying Cybertruck. Hi.

[indiscernible]

Sure. Absolutely. Just open the -- I think it's the [ button ]. Here we go.

[ That is the best driver in town ]...

Thank you. Thank you. Well, as you can see.

[indiscernible]

Okay. Cool. Well, as you can see, we've got quite a few to deliver here. Hi. Thank you.

We haven't slept in 3 days.

Wow. Okay. Welcome. I hope you enjoy your car. Hey, good to see you.

Good to see you.

Enjoy your truck.

Thank you so much.

Well, this is a Delivery Event. Thank you.

[ Prince Richard ].

Nice to meet you. Great. This is the button to open it. And then that's it. I mean it's going to be amazing to see all these cars driving around.

Thank you, man. I appreciate it.

Most welcome. So just press this button here. All right.

Thank you. I appreciate it.

Welcome. I mean this is really going to change the look of the roads. I mean one of -- in the parking lot, one of them does not look like the other. Good to see you. Hey. How it's going?

Good to see you. I love your car.

How it's going? Yes, welcome.

Thank you.

Welcome. All right. Is that it?

[indiscernible]

All right. Thank you, everyone. Thanks for coming to the Cybertruck Delivery Event and you witness to -- what? One more. Okay, sorry. Okay. Go ahead and drive it out actually.

[indiscernible] You want to drive it?

You drive out. Yes, sure. Okay. All right. Thanks, everyone, for coming to this Delivery Event, and I appreciate your support. And this is really going to like to change the look of the roads. And finally, the future will look like the future, and it's really going to be something special. Thank you.