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.
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Tesla has initiated another minor design revision, this time improving the rear camera on the Model 3 and Model Y. This minor revision adds a protective lip around the camera, providing better shielding against rain, dirt, snow, and general road grime.
The design revision began rolling out for Model Y vehicles from Shanghai first, with the initial vehicles spotted with the revision dated as early as late September 2024. Tesla regularly makes minor design revisions on its vehicles in between model years, in an iterative design process that gradually improves as more and more vehicles are built.
Design Revision
The design revision adds a small shield around the rear camera, including a small lip towards the bottom end. The little lip is likely going to make the biggest difference, as it will help prevent kickback and wash from the tires landing on the camera lens, which can obscure it.
For now, nothing indicates a potential revision including a camera washer—similar to the Cybertruck’s front camera washer. However, given we already know the Model Y Juniper is likely arriving with a front camera, it’ll probably also have a front camera washer.
This lip for the rear camera should be a nice addition, but we’ll have to see just how much of an improvement it provides in the upcoming winter season as the messy, slushy mix arrives in much of the United States and Canada.
3D Printed Accessory
If you’re feeling left out without the new rear camera shield, you’ll soon be able to 3D print and install a similar design. Some entrepreneurial 3D modelers have already started working on making a retrofittable shield for both the HW3 and HW4 rear cameras.
In the meantime, we recommend using ceramic coating on the rear camera to help keep that slush and grime moving when it does hit the camera. A good application of ceramic coating can help prevent buildup on the lens.
Model S and X
For now, we haven’t seen this design revision on more recent Model S and Model X vehicles yet. There were previously rumors of a light refresh for both of the more premium vehicles. However, we haven’t seen any indications of these changes actually seeing the light of day.
Once the refreshes for these two vehicles arrive, we could see more drastic changes. Tesla has also indicated it is waiting to use some of its upcoming new battery cell technology in 2026, so we could be waiting for a while before seeing further updates to the Model S and Model X.
We’ll be looking for both vehicles to receive this design revision. If you spot them, let us know on social media or on our forums.
The Model X is currently Tesla’s largest vehicle, seating up to seven passengers. However, due to the vehicle’s rounded shape, it offers significantly less cargo room than some of its competitors. While the Model X is amazing with its falcon-wing doors, some families may be forced to look at other brands if they need additional trunk space.
Yesterday, Elon Musk gave Tesla owners hope that there may be a larger SUV in the works. In response to a post asking Tesla to produce larger vehicles, Musk replied OK - once again confirming that there are more things in development than we know about. At the Shareholder Meeting in June, Musk confirmed that there were more Tesla products in the works - but didn’t mention what, so this is our first clue at what these additional items may be.
Musk confirmed that while the Robovan is in development - there are “some other things too.” Robovan itself was shown off at the We, Robot event last month, and it was something utterly different. While the Cybertruck makes a statement - the Robovan looks like the future.
CyberSUV?
Tesla currently sells one vehicle that comfortably seats more than five —the Model X. Its 6-seat configuration is fairly spacious and comfortable, while the 7-seat option offers a bench seat in the middle, removing the center aisle. The Model Y was also previously available in North America with a 7-seat configuration; however, it wasn’t extremely popular due to the sloped roof and lack of legroom in the back. Interestingly, the 7-seater Model Y, recently became available again in China.
While Robovan is going to be a fantastic vehicle for the future, we need to pull back to the present. Robovan is still years away and will require the widespread approval of autonomy regulations to really take off. Most people also don’t necessarily need to transport 20 people—like a bus. Take a look at a family with two to three kids, add in some friends and equipment for a baseball or hockey game, and no Tesla is fitting all those kids and stuff in it today.
One of the few market segments not addressed by Tesla has traditionally been the large-family vehicle - other vehicles like the Rivian R1S or the Kia EV9 have been winning in that particular space.
Tesla now has the Cybertruck as a platform to build upon. Why not leverage that to build other large vehicles? The proposed CyberSUV would be a full-size SUV that comfortably seats 7 and would have plenty of interior space—far more than the Model X.
Tesla has mentioned before that the Model X is not a cheap or easy vehicle to build, partly due to its falcon-wing door design. The Model S and Model X have been rumored to have declining sales. Most of that is due to the Model 3 and Model Y being a much better value, with many owners transitioning from a Model X to a Model Y.
With the Model 3 refresh, Tesla also added many features to the Model 3 that were previously exclusive to the Model S, such as better noise-dampening and ventilated seats. The Model Y Juniper Project, estimated to arrive in 2025, will likely take another bite out of Model X sales. It’s not clear what the future of the Model X is once this larger vehicle arrives on the market.
Our best guess for this new vehicle is that it’ll be a larger, mass-market vehicle for users who like the value of the Model Y but would prefer a larger vehicle.
We’re excited to see what Tesla pulls out from under the covers in 2025. Maybe a CyberSUV may really be coming soon.
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