Did you miss the Shareholder Meeting? Want to know what Elon Musk said?
We’ve got an easy-to-read recap for you below, split by sections. We’ll be writing more in-depth about many of these topics over the upcoming days as we unpack all the awesome news!
Robotaxi
Fleet monetization planning is ongoing.
Owners will be able to send their cars to the Robotaxi fleet and summon them back when they need them.
Tesla will take a margin, but most of the income will go to owners.
Tesla has plans to solve driverless interventions in the future, but expects them to be edge cases of edge cases.
FSD
Headed towards Unsupervised FSD!
New subversions are essentially new full versions; 12.4 and 12.5 are massive updates.
Expect a 2-5x increase in performance between versions.
Major versions will include a 2-week free trial.
10 thousand miles between interventions for some internal builds.
Hardware 4 training will begin later this year, Hardware 3 will continue to be developed.
Hardware 5 is 18 months from retail release.
Optimus
Optimus will be able to do many simple and difficult tasks:
Teaching
Companionship
Babysitting
Factory Work
Tesla expects 2 humanoid robots per person in the future.
Tesla expects 1000-2000 robots working in its factories by next year, with a limited production run.
22 degrees of freedom in the next generation hand, one new major hardware revision coming this year.
Cybertruck
China and Europe-compliant Cybertruck coming after production is scaled and costs are reduced.
Foundation series ending soon, non-foundation series starting next quarter.
Semi
Semi is in low-volume production, high-volume production starting soon.
Companies are actively choosing Semi due to economic advantages.
Massive potential impact on carbon emissions
Big impact on the profitability.
Other New Products
New products are coming soon, and Tesla is working hard on them.
Possible 12-passenger van, added to the “To-do” list.
Supercharger
58K global sites, and continuing to grow.
More superchargers deployed this year than the rest of the industry combined.
Tesla is providing adapters to other car companies and providing them with support for Supercharger access.
Tesla is moving to fill gaps and relieve congestion where possible.
Battery Production and Stationary Storage
New 4680 innovations, best cell from a manufacturing and efficiency standpoint.
4680 will be a continuing focus to improve over time.
Tesla has made their battery supply chain stronger and is working on further vertical integration.
2023 had 15GWh of Megapack production, 2024 is looking closer to 40GWh.
100-200% growth rate in the energy storage market.
Tesla is constrained by Megapack and Powerwall 3 production, can’t keep up with demand, even as they scale rapidly.
AI and Compute
AI growth is on a weekly basis, with Tesla taking in video and training on decision-making faster than ever.
Tesla is not compute-limited for FSD, but scenario-limited.
There is an AWS-style opportunity for parked vehicles to run distributed inference and compute.
Tesla intends to introduce LLMs with customizable learning personalities to Optimus and its vehicle lineup.
Investor Facts
Elon Musk expects $5-10 Trillion valuation for autonomy, and $20 Trillion for Optimus.
Musk mentioned that Ark Invest has the closest scenario – with Robotaxi releasing in 2025 or 2026, for a 110x valuation increase.
Elon’s stock award isn’t cash, and he has no intent to cut-and-run and is with Tesla for the long haul to accomplish the mission.
Other Items
Tesla Home HVAC, with a built-in HEPA filter, humidity control, super-efficient, super-quiet, with Powerwall integration – one day.
Kids Factory Tour Event – for children under 12!
If you’d like to watch the shareholder meeting, you can view it here, along with all the stockholder vote results.
