Tesla Inc Q1 2019 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Maynard Joseph Um - Macquarie Research - Analyst : In the update letter, you talked about supplier limitations impacting production. Can you just talk about what that was and how long you think that might continue to impact you? And then I have a follow-up.

Question: Maynard Joseph Um - Macquarie Research - Analyst : Okay. And I guess there was some concern out there that Model 3 was cannibalizing S and X despite them being all different vehicle classes, and it doesn't sound like you're seeing that at all, but I was just wondering if you had any evidence that proves or disproves this? Any thoughts there would be helpful. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. APRIL 24, 2019 / 9:30PM, TSLA - Q1 2019 Tesla Inc Earnings Call

Question: Joseph Robert Spak - RBC Capital Markets, LLC, Research Division - Analyst : First question is really just a clarification on -- in the outlook of 25% non-GAAP gross margin that you're targeting. Is that over the mid-term? Or is that something you expect to hit by the end of this year? And if so, what gets S and X back higher given the price cuts?

Question: Joseph Robert Spak - RBC Capital Markets, LLC, Research Division - Analyst : Okay. And the second question is just looking at the 10-K, you've continually noticed $4.9 billion purchase obligation, which I think is primarily related to Panasonic Giga 1. And then Elon, in some of your communication, you've indicated production constraints. So I guess the question is, does that $4.9 billion correlate to reaching that 35-gigawatt hour rate? And if you can't hit that because of production constraints, does that adjust?