CEOInterviews.AI
Start App
Elon Musk
Co-Founder, Technoking of Tesla, Chief Executive Officer & Director, Tesla

Elon's Speech Today As Tesla Hands Over Last Ever Model S & X To Customers

📅 May 20, 2026 Solving The Money Problem 15 MIN 55609 VIEWS 63 SEGMENTS · 3 SPEAKERS
► AG1 https://drinkAG1.com/SMR (FREE Welcome Kit: Vitamin D3+K2 & Travel Packs) ► Join Patreon:   / solvingthemoneyproblem   ► Follow me on X: https://x.com/stevenmarkryan ► UNLOCK 350+ Exclusive Videos:   / solvingthemoneyproblem   ► My Tesla Stock Fair Value aka “Price Targets”:   / 96573364   ► Merch: https://solving-the-money-problem.cre... ► Opus Clip: https://www.opus.pro/?via=SMR (AI video clipping & editing tool) Want More Content? Early Access? My Tesla Valuation Model? Check the pinned comment! AFFILIATE DISCLOSURE: I earn a commission on every purchase made through my links. 🚀...

What Elon Musk said

Written from the verified transcript and checked against it. Every figure links to the moment it was said.

Elon Musk, joined by Franz von Holzhausen and Ashok Elluswamy, marked the final handover of the Model S and Model X, calling it a bittersweet moment. He credited the Model S with proving electric cars could be the best cars, winning Motor Trend Car of the Year and 'best car ever.' Musk recalled designing the Model S in the back of the SpaceX factory, pushing clay models outside on Fridays, and convincing suppliers to expand lithium-ion battery production, with the Reno factory doubling output. He noted that electric cars were under 0.1% of sales when Model S launched, versus 17% last quarter, and praised Norway and China for adoption. Musk predicted Optimus will be the 'biggest product ever of any kind,' and that the future is autonomous, with driving becoming like riding a horse. He thanked customers, employees, and suppliers, and announced a limited special edition of S and X in signature red with white interior.

Key takeaways

  1. Musk predicts Optimus will be the biggest product ever of any kind, bigger than any prior product.
  2. Electric cars were under 0.1% of global sales when Model S launched; last quarter they were 17%.
  3. Musk said the Reno factory doubled the volume of lithium-ion batteries produced globally.
  4. Musk announced a limited special edition of Model S and X in signature red with white interior.

Numbers and commitments

FigureWhat it refers toTypeAt
17% Share of electric cars in global sales last quarter metric 8:25
0.1% Share of electric cars in global sales when Model S was in production metric 8:25
40% Reduction in parts count in current Model S and X versus original metric 7:45
3% Percentage of original parts remaining in current Model S metric 7:45
97% Percentage of parts changed in Model S over 14 years metric 7:45
165 watt-hours a mile Efficiency of Cybercab, the most efficient certified EV metric 10:56
500 Model X units factory-gated on December 31, 2015 metric 3:08
6,000 Model X units built per week now metric 3:08

Chapters

  1. 0:00Farewell to Model S and X
  2. 0:42Model S as the best car
  3. 1:48Designing with love
  4. 4:20Early days at SpaceX
  5. 5:35First car built by Tesla
  6. 7:34Innovations and over-the-air updates
  7. 8:25Electric car adoption growth
  8. 9:16Lithium-ion battery supply
  9. 11:35Optimus and the autonomous future
  10. 15:00Special edition handover
Elon Musk 0:00 ↗
This is obviously a bittersweet moment where we're handing over the last of the Model S and Model X vehicles that we've produced. These vehicles really are what made Tesla into a great car company and profoundly changed what people's perception of an electric car was. People used to think electric cars were slow, low range, undesirable, really kind of like glorified golf carts that were not fun, didn't look good, and it was like wearing a hair shirt basically.
Franz von Holzhausen 0:37 ↗
You kind of had to give up a little bit of your soul to be in an environmentally friendly vehicle.
Elon Musk 0:42 ↗
Yeah. So really the profound thing that the Model S especially showed was that an electric car could actually be the best car of any period. So, I'd say that's the thing that's really most important about it. It was breaking the perception that electric cars are worse than other cars and showing that actually if you design it right with the incredibly talented Tesla team, you can actually make an electric car be better than any gasoline car. And as a result, Model S won not just a Motor Trend Car of the Year, but I think best car ever, I think.
Franz von Holzhausen 1:26 ↗
And then we followed that up with the Model X which was the Faberge egg of cars. It was somewhat of an exercise in hubris frankly. But an incredible vehicle with so many special things about the Model X that probably most people who buy the car don't even realize exist.
Elon Musk 1:48 ↗
And I'll tell you something like why maybe at a fundamental level why the Model S and Model X succeeded, which is that those cars were designed with love.
Franz von Holzhausen 1:58 ↗
Absolutely.
Elon Musk 1:59 ↗
They really were. Every part of it inside and outside, every detail, even things people couldn't see, probably most people would not even experience or often not know existed, we put there because we loved the product. And I think that's at the heart of any great product, if the people making it genuinely love that product, just like when you genuinely love your kids, you care about things in a different way.
Franz von Holzhausen 2:31 ↗
Yeah, you do. It's not like a spreadsheet thing. You do things to make the product amazing because you love it. And even if people don't even see all of those things, they feel a lot of those things and that's what translates to people wanting the product. That would be my advice for people out there who are making products or providing services is do something that you truly love and your customers will feel that love.
Ashok Elluswamy 3:02 ↗
You guys all feel that. We feel it from all of them.
Elon Musk 3:05 ↗
Yeah, exactly.
Ashok Elluswamy 3:08 ↗
Right, I mean I think Elon when you look at our employees, right, like for our Fremont, Giga Nevada, these employees are playing a big role. And what Tesla Fremont did, right, I mean I was telling Elon a story that I was there in December 2015, 31st of December, I was right there and we factory gated 500 Model X's and I was like wow we were celebrating like crazy and now we're building 6,000 of those a week and this is laying a foundation for Tesla's future, all the global manufacturing, all the manufacturing sites. So, just want to say thank you to all the employees, all our suppliers. Thank you guys. Thank you.
Franz von Holzhausen 3:52 ↗
Yeah, I mean, nobody thought we could do it, right? There were so many naysayers back in the day, but we actually ended up kind of creating a script of what we take for granted in vehicles today. And if you look at this list, I think in a weird sort of way, that's what everybody's copied us in. But Model S and Model X really started and innovated and created every one of these things on this list. And the automotive industry wouldn't be what it is today without that. I think we take a lot of this for granted.
Elon Musk 4:20 ↗
Yeah. I mean, we actually started out designing the Model S in the back of the SpaceX factory. So, we didn't have a design studio as...
Franz von Holzhausen 4:30 ↗
Or an engineering center or anything.
Elon Musk 4:32 ↗
Well, we did have... we had St. Carlos. We had some of the engineering team. But pretty small team to say the least. And thank goodness Franz joined as head of design. It's been a pleasure working with you all this time.
Franz von Holzhausen 4:47 ↗
Thank you for Lars and Rishi and everyone and the whole Tesla team. It's been an honor to work with such a talented group. But it's worth just reminiscing a little bit about how it started out.
Elon Musk 4:59 ↗
Yeah. I mean those early days in the back corner of SpaceX and the tent, we didn't even have a design studio. We were on a floor like this, falling off and we would push the clay model of Model S through SpaceX factory every Friday and push it outside so we could evaluate it with Elon and right on Jack Northrop Drive. Every car driving by could see what we were doing, but nobody cared. It was like a garage band playing in Wembley Stadium, we were taking on the world with this amazing idea. But nobody really believed.
Yeah. The Model S was actually the first car we really made ourselves. Because with the original Roadster, Lotus did the non-powertrain portion of the car. And at Tesla, we designed and built the drivetrain and the battery pack, the charger and basically electrical stuff but we didn't build the rest of the car that was done by Lotus. So frankly if people ask me what are the chances of success of a company that's never built a car before building a car that would be Car of the Year by Motor Trend which is generally like the Academy Awards of cars, I'd say it's pretty unlikely, but we're going to try to build something and we really just tried to build a car that we thought would be awesome.
Franz von Holzhausen 6:23 ↗
Yeah. A car that we all wanted.
Elon Musk 6:25 ↗
Yeah. There weren't any market surveys or anything. It was just us judging. It's like, 'Oh, is this a good idea? Should we do this? Should we do air suspension? Sure, let's do it.' You know, it was like, 'What would you want in a car?'
Franz von Holzhausen 6:40 ↗
Yeah. What would we want in a car? And giant touchscreens didn't exist in cars.
Elon Musk 6:46 ↗
No iPad either at the time, remember? Yeah, we had to basically use stuff that was meant for laptops and notepads and stuff and then there wasn't any software so we had to write the software to make the touchscreen work. And yeah, it was pretty wild.
Franz von Holzhausen 7:06 ↗
But now like almost every car has one.
Elon Musk 7:09 ↗
Yeah. Yeah, it's normal now.
Franz von Holzhausen 7:11 ↗
Model S just started that, right? It was the beginning and now everyone just thinks that is commonplace.
Elon Musk 7:16 ↗
Yeah. And I actually drove my brother's founder Model S, one of the first 20 or so. And I thought, boy, it's actually probably going to have all sorts of issues, but it drives pretty well.
Franz von Holzhausen 7:29 ↗
Yeah. I drove my 2012 here today. Nostalgia. It was a great car back then. It's still a great car now.
Elon Musk 7:34 ↗
Yeah. A lot of that's pioneered by over-the-air updates, you know, didn't exist. The car gets better with time. So those older cars are better today than they were when we first delivered them.
Franz von Holzhausen 7:45 ↗
So yeah, it was really a ton of stuff that we did here. And we kept improving it over time. I mean today's Model S and X have 40% fewer parts than the original. Only 3% of the parts that are currently in a Model S are what we started with. So we changed like 97% of the parts over the past 14 years. And obviously made huge improvements with self-driving.
Elon Musk 8:12 ↗
Self-driving came.
Franz von Holzhausen 8:14 ↗
Yeah. And originally didn't have anything like that.
Elon Musk 8:16 ↗
Yeah, that's the one bad part about driving the 2012.

31 more exchanges in this transcript

Sign in free to read the rest of this interview. No card required.

Sign in to read the full transcript

Cite this transcript

APA, MLA, BibTeX
APA

Musk, E. (2026, May 20). Elon's Speech Today As Tesla Hands Over Last Ever Model S & X To Customers [Interview transcript]. Solving The Money Problem. CEOInterviews.AI. https://ceointerviews.ai/interview/928534/

MLA

Elon Musk. "Elon's Speech Today As Tesla Hands Over Last Ever Model S & X To Customers." Solving The Money Problem, 20 May. 2026. Transcript, CEOInterviews.AI, https://ceointerviews.ai/interview/928534/.

BibTeX
@misc{musk2026_928534,
  author       = {Elon Musk},
  title        = {Elon's Speech Today As Tesla Hands Over Last Ever Model S \& X To Customers},
  howpublished = {Interview transcript, Solving The Money Problem. CEOInterviews.AI},
  year         = {2026},
  month        = {may},
  url          = {https://ceointerviews.ai/interview/928534/},
  note         = {Speaker-attributed transcript with timestamps}
}