Hello and welcome to the Wednesday February 20th

2019 edition of Tesla Daily Unofficial Tesla Podcast. My name is Rob

Maower. Today we are talking about an update from Elon on Twitter,

Tesla's General Counsel, and Model 3 leasing. Tesla stock on the day today was

down 1.01% to $302.56, this compared to the NASDAQ, up 0.03%.

First thing today is an update on a comment that Elon made on Twitter yesterday that we discussed,

where he said, quote, Tesla made zero cars in 2011, but we'll make around 500K in 2019.

He then updated that about four hours later by saying quote meant to say

annualized production rate at the end of 2019 probably around 500k i.e. 10k cars

per week.

Delivery is for a year still estimated to be about 400,000."

End quote.

As I said yesterday, I do still think Tesla is making an attempt to be somewhat conservative

with their guidance, regardless of Elon clarifying his point here.

I think that remains the case.

I don't see Elon's correction here as too big of a deal.

I think it's easy to say, wow, those are two very different things, the total production

for the year and the actual run rate at the end of the year.

But this was just a tweet. It wasn't even its own individual tweet. It was a follow-up to a different tweet.

This wasn't something that Elon put a lot of thought into, and it's understandable for him to be thinking in terms of production

rather than annualized production because really production rate is what matters.

Elon's talked about even on the ARC podcast I believe that he talked about this how the calendar lines can sometimes

...