Musk hosts Tesla shareholder 'drive-in'

Musk walked on stage in a black t-shirt and jeans as the shareholders honked their car horns in approval.

To help drive down vehicle cost, Musk described a new generation of electric vehicle batteries that will be more powerful, longer lasting and half as expensive than the company's current cells at Tesla's "Battery Day" on Tuesday.

Video Transcript

[HONKING]

ELON MUSK: Hey, everyone. I mean, this is definitely a new approach. We have the Tesla drive-in movie theater, basically.

It's good to see everyone. It's a little hard to read the room with everyone being in cars, but it's the only way we can do it, so hopefully it's cool, and hopefully you can hear me. Can you guys hear me?

[HONKING]

OK, all right. Great. All right, well, thanks for coming.

I think it's been an incredible year, and I'd like to thank you for your support through tough times, good times. It's been great. I really appreciate everyone who's put their hard-earned money into Tesla. And, you know, I think it's worked out pretty well. This has been a good year, and I think there's many good years to come.