Did anyone else catch the big "Disclaimer" that flashed on the screen when the Tesla Cybercab event kicked off?
You can see the Disclaimer at 52:45 in the live announcement video:
Summary and Purpose of Disclaimer:
This disclaimer is aimed at informing investors, stakeholders, and potential buyers about the risks associated with the forward-looking statements made during the product announcement. These statements include expectations regarding Tesla's product development, manufacturing, ramping up production, pricing, market growth, and overall business strategy. The purpose is to clarify that the company’s projections are based on assumptions, which may not necessarily come true, and to protect Tesla from liability if actual outcomes differ from their forecasts.Key Points:
- Forward-Looking Statements: The disclaimer highlights that many of the claims in the presentation, including timelines, production capacities, demand growth, and profitability, are based on management’s assumptions about the future.
- Risks and Uncertainties: Tesla acknowledges that these projections involve uncertainties and risks, including factors such as:
- Delays in manufacturing or launching products
- Supply chain challenges, including the delivery of parts and battery components
- Technological risks tied to electric vehicles, automation, and artificial intelligence
- Government incentives and economic factors, especially those impacting electric vehicle markets
- Product recalls or liability issues, if products don’t perform as expected
- Competition and market pressures in the automotive, transportation, and energy sectors
- Tesla’s Obligations: The company is not required to update these forward-looking statements if circumstances change or if new information emerges.
Concerns for Interested Buyers:
- Product Delays: The disclaimer points to the potential for delays in launching or ramping up manufacturing of Tesla products. Customers should be cautious about relying on Tesla's announced timelines.
- Supply Chain Risks: There are risks associated with delivering essential components (e.g., battery cells) on time, which could impact production and availability.
- Performance and Recalls: The possibility of product recalls or underperformance is raised, indicating potential concerns for those expecting flawless technology from Tesla.
- International and Regulatory Risks: As Tesla expands internationally, changes in government incentives or compliance requirements could affect pricing, availability, or Tesla's ability to deliver products globally.
- Economic Conditions: Broader economic factors or currency fluctuations could influence Tesla’s costs or financial performance, possibly impacting pricing or availability of future products.
Conclusion:
While Tesla’s vision is ambitious and forward-looking, this disclaimer serves as a reminder that numerous risks could impact the company's ability to deliver on its promises, particularly with new or upcoming products. Customers and investors should approach these announcements with caution, understanding that timelines and performance expectations are not guaranteed.Cybercab Disclaimer (Full Text):
Certain statements in this presentation, including, but not limited to, statements relating to the development, strategy, ramp, production and capacity, demand and market growth, cost, pricing and profitability, investment, deliveries, deployment, availability and other features and improvements and timing of existing and future Tesla products and services; statements regarding operating margin, operating profits, spending and liquidity; and statements regarding expansion, improvements and/or ramp and related timing at our factories are “forward-looking statements” within the meaning of the Private Securities Litigation Reform of 1995. Forward-looking statements are based on assumptions with respect to the future, are based on management’s current expectations, involve certain risks and uncertainties, and are not guarantees. Future results may differ materially from those expressed in any forward-looking statement. The following important factors, without limitation, could cause actual results to differ materially from those in the forward-looking statements: the risk of delays in launching and/or manufacturing our products, services, and features cost-effectively; our ability to build and/or grow our products and services, sales, delivery, installation, servicing and charging capabilities and effectively manage this growth; consumers’ demand for products and services based on artificial intelligence, robotics and automation, electric vehicles, and ride-hailing services generally and our vehicles and services specifically, as well as our ability to successfully and timely develop, introduce, and scale such products and services; the ability of suppliers to deliver components according to schedules, prices, quality and volumes acceptable to us, and our ability to manage such components effectively; any issues with lithium-ion cells or other components manufactured at our factories; our ability to ramp our factories in accordance with our plans; our ability to procure supply of battery cells, including through our own manufacturing; risks relating to international expansion; any failures by Tesla products to perform as expected or if product recalls occur; the risk of product liability claims; competition in the automotive, transportation, and energy product and services markets; our ability to maintain public credibility and confidence in our long-term business prospects; our ability to manage risks relating to our various product financing programs; the status of government and economic incentives for electric vehicles and energy products; our ability to attract, hire and retain key employees and qualified personnel; our ability to maintain the security of our information and production and product systems; our compliance with various regulations and laws applicable to our operations and products, which may evolve from time to time; risks relating to our indebtedness and financing strategies; and adverse foreign exchange movements. More information on potential factors that could affect our financial results is included from time to time in our Securities and Exchange Commission filings and reports, including the risks identified under the section captioned “Risk Factors” in our annual report on Form 10-K filed with the SEC on January 26, 2024 and subsequent quarterly reports on Form 10-Q. Tesla disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events or otherwise.You can see the Disclaimer at 52:45 in the live announcement video: