Hey everybody, Rob Maurer here and today we are talking about Tesla's newest annual impact

report they have just published that today, always some really cool information in that

so we'll go through the highlights.

We've also got a report on Gigashang High, some news on a nickel contract and price

changes in Canada.

Quick look at the markets, the NASDAQ today continuing its downtrend finishing at a new

52 week low close, down 1.4%.

While Tesla did outperform slightly but still down 9% to close at $865.65, Tesla is now

trading at 76 times Q1's earnings annualized.

Jumping right into the report on Gigashang High, this comes from Reuters, they are saying

that Tesla is aiming to increase output at Shanghai to 2600 cars per day from May 16, citing

an internal memo seen by Reuters.

They also say that the memo says that this will be accomplished by going from the current

1 shift to 2 shifts.

Obviously before the COVID lockdowns, Shanghai was doing about 2200 vehicles per day on average

but that doesn't necessarily account for downtime and we also don't know how much that is considered

when it comes to this number they could just be referring to peak daily rates, rather

than a figure that is sustained every single day.

However, even factoring in downtime, this should put Tesla back to pretty close to the

full levels of production from before the shutdown, with the possibility of production

even exceeding those levels.

Just to run through a quick hypothetical for some context, if we did see production at 2600

...