Elon Musk mentioned that Tesla could announce a new factory location later this year at Tesla’s annual shareholder meeting.
During his speech at the shareholder meeting, Elon talked in detail about Tesla's newly opened factories: Gigafactory Berlin-Brandenburg and Gigafactory Texas.
During the meeting Elon said that Tesla "might be able to announce another factory location later this year." When Elon asked where the next Gigafactory should be, the crowd shouted out various locations. Elon then said:
"We get a lot of Canada. I am half Canadian, maybe I should?"
This is not the first time Elon hinted that Canada could be home to the next gigafactory.
During an employee meeting in June, Elon confirmed that the company was looking at a new site in North America. During the Q and A, an employee asked a question about the location of the next American Gigafactory.
Musk noted that the company had not confirmed the location, but he said it may not necessarily be in the United States:
"We are looking at sites, but we are considering some site options more broadly in North America, so including Canada and Mexico, and the US as well."
Scaling Production
At the shareholder meeting, Elon told investors that Tesla's next Gigafactory will be one of 10-12 factories the company is planning.
"Ultimately, we'll end up building probably at least 10 or 12 Gigafactories and they will be really big Gigafactories aiming for an average output of 1.5 to 2 million units per factory, which is enormous."
If Canada is home to the next Gigafactory, it would most likely be located somewhere in Ontario's "Golden Horseshoe", Canada's most populated and economically productive region. Alberta could also be a good option considering it has favorable business regulations, cheaper energy costs, including Canada's best solar and wind potential, and its proximity to lithium resources.
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Tesla eliminated a newly formed marketing team of about 40 employees as part of its global layoffs, Bloomberg reported on Monday morning. On X, Elon Musk said the ads created by the team were “far too generic” adding that they would apply to “any car”.
Exactly. The ads were far too generic – could’ve been any car.
The team was led by Alexander Ingram who joined Tesla in August 2019 as Communication lead for Automotive. After a few different roles connected with content and social media, Ingram was promoted last December to Senior Manager of Global Growth Content. In the new role, he was leading a global team of creatives focused on Tesla's first ads, as well as social media.
Ingram put out some excellent behind-the-scenes videos on Tesla’s technological advancements such as the one below explaining Tesla’s single casting.
Tesla’s Advertisement Strategy
At Tesla’s 2023 annual meeting of shareholders, Elon Musk said that the company would “try a little advertising and see how it goes”. Since then, Tesla ads have been seen in Google search results and on YouTube.
In Tesla’s proxy statement filed last week, it is seen that the automaker has spent around $200,000 on X-advertising through February 2024.
“As part of a multi-platform advertising campaign, Tesla also directly or indirectly purchased advertising on X, which totaled approximately $0.2 million through February 2024”
Bloomberg’s source added that Tesla still has a smaller marketing team in Europe.
Tesla shared on X that it’s ending its current referral program globally by the end of April. It’ll be replaced by a new one, but that is still “a few months away”, according to CEO Elon Musk.
When Musk was asked if the current credits would be lost, Musk responded by saying “No, just that new credits would not be earned until we launch a future referral program.” That means there’ll be a gap of a couple of months when owners will not be able to earn referral credits.
Tesla was always famous for relying on its community to promote its vehicles rather than spending millions (or even billions) in ad campaigns.
Through Tesla’s referral program — which started back in 2015— customers have been earning referral credits by having friends use their referral link when ordering a Tesla product or taking their first demo drive. At the time, it started with a direct $1,000 prize for the referrer but later evolved to a more complex system with different tiers and points.
Prizes have changed a lot over the years
In its latest version, scheduled to end by the end of the month, Tesla models (S, X, and Y), along with Powerwall, solar panels, and solar roofs, are available for purchase using a referral link. In this version, owners can redeem credits from merchandise to software upgrades for their vehicles. They can even redeem credits for several months free of Premium Connectivity or FSD.
Our current referral program benefits will end after April 30 in all markets
Tesla’s first referral program was released in July 2015 where customers who referred new buyers would receive $1,000 for every new Tesla Model S delivered. For those who were able to accrue 5 or 10 referrals for the US automaker, Tesla raised the bar and offered invitations to the opening of its Giga Factories or even a fully loaded Model X.
Over the first 2 years, Tesla significantly increased the value of the prizes and even offered free or discounted Roadsters with enough referrals. However, in 2019, Elon Musk decided to stop amid cost concerns.
The referral program was re-launched in late 2019 offering new buyers free supercharging for a period of time, FSD access, premium connectivity, or $500 off a new vehicle.
What’s Next
Given the considerable gap of “a few months” between the current program and the next one, it is expected that Tesla will bring a new structure with updated awards focused on minimizing Tesla’s cost while increasing the brand’s awareness.
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