Tesla Q1 2020 Update
Since, things are slow, my notes....<p>Misc:<p>- Fremont plant idle since March 23rd<p>- raised 2.3B in February, which seems really well timed now<p>- Musk venting with &quot;FREE AMERICA NOW&quot; tweet makes him seem almost crazy<p>- can see why Elon is going crazy on twitter, he&#x27;d almost turned around Telsa and now they may be in the worst cash crunch of their long life<p>- Shanghai Giga reopened on Feb 10th, showing the importance of multiple factories around the world( around 150,000 in capacity once they get going for Model 3, Model Y not yet and should be incremental on top of Model 3 number)<p>- Berlin Giga scheduled to start producing Model Y&#x27;s in 2021, so capex drain for rest of year and probably into 2021<p>- TSLA trying to run an amazon HQ2 like process for Truck and Model Y factories, look for small, southern, and poor cities to bid and probably win<p>Numbers:<p>- 1Q Revenue $5.99B vs Estimate $5.81B<p>- 1Q Free Cash Flow ($895M) vs Estimate ($604.4M)<p>- GAAP net income of $16M for 1Q<p>- sale of ZEV in 1Q $354 million vs $133 million from Q4, not going to have this to bail out their quater in 2Q<p>- 35 Megawatts of solar( down by about a third Q&#x2F;Q)<p>- sitting on $8.1B of cash, sweet!!  but burn rate is approx ($3-4B) a year<p>After:<p>- semi not until 2021<p>- not reaffirming numbers, will check in again in 2Q, makes sense<p>Want to know:<p>- Solar roof?  give up or start committing, hard to sell to consumer during shutdown<p>- battery storage for energy, growth area or sign of lack of focus and minor distraction to core business?<p>inventory growth?  Building cars no one is buying or still not able to keep up with growth or finally found balance between the two?<p>- Will Elon stop with tweets that hurt Tesla?  Appoint a CEO, or COO to run things to take pressure of Elon?