Tesla's 2022 shareholders' meeting recap & video

Tesla

Tesla held its 2022 shareholders' meeting yesterday. At the event, Tesla discussed a variety of products and features including FSD Beta 10.13, the Cybertruck, Tesla Superchargers, and a new Tesla factory.

You can watch the entire event below (starts at the 2 minute mark), or read Dan Burkland's recap, which was originally posted on dburkland.com.

Part 1 - Formal Shareholder Items

• Martin - Intro

Robyn Denholm

• Global fleet of cars and vehicles to avoid 8.4M metric tons of green house gas emissions

• Avoided emissions that were equivalent to ICE vehicles driving 20B miles

• By 2030 Tesla plans to sell 20M vehicles / year

• In June 2022 Tesla achieved the highest vehicle production month in their history

• Tesla continues to make an impact w/ Solar & Energy Storage business

• Tesla sold 4 GWH of energy storage products in 2021, enough to power 3M homes

• Solar demand has increased 4x

• Goal is for all factories to be carbon neutral

• Tesla already uses less water per vehicle than any other automaker

• Sustainability drives everything Tesla does

Stockholder Proposals

• Proxy Statement: document

Part 2 - Elon's Presentation / Q & A Session

• Attempting to achieve a 2M vehicle / year run rate by end of 2022

• Tesla just recently produced their 3 millionth vehicle

• Looking back 10 years ago, Tesla only made 2500 Roadsters and maybe a couple hundred Model S (August 2012)

• “Cleanest exponentials” -Elon Musk

• $TSLA shareholders have approved the 3-for-1 stock split

Tesla

• Important to note the increase in strong free cash flow is occurring before autonomy

FSD Beta 10.13

• “This year I swear” (FSD being released to public)

• “Made some significant architectural improvements with FSD Beta 10.13 release, might qualify for 10.69” -Elon Musk

• “It's gotta earn that” -Elon Musk

• “We are going to solve Chuck's turn” -Elon Musk

• “Roughly 90% success rate w/ Chuck's turn”

• “Might be next week” -Elon Musk

• “It's working well for me” -Elon Musk

• FSD will save lives by driving an order of magnitudes safer than people

• Tesla has the highest operating margin in the entire industry

Tesla

• Every time a competitor advertises for EVs Tesla notices an increase in sales

• Model Y is tracking to be highest vehicle by revenue by end of 2022 and highest by unit by end of 2023

Gigafactories

• Tesla will soon be ready to announce another factory location by end of 2022

• Tesla plans to eventually have 10-12 Giga Factories 

• Each factory will have the capacity to produce 1.5-2M vehicles per year

• Fremont factory is highest output car factory in North America

• Elon thinks it's going to be a friendly competition between Berlin, Fremont, and Texas (Shanghai hard to beat)

• Tesla has produced more energy than it consumes (includes vehicle charging)

Tesla

• Tesla battery recycling is already happening at a rate of 50 packs per week in Nevada

• Continues to scale

• Not that many batteries to recycle since their longevity has been really good so far (more of a longterm play)

Master Plan: Part 3

• Will be focused on scaling

• “What are all the things needed to achieve a fully sustainable global economy”

• Cathode materials

• Aluminum, Etc.

• Goal is to reiterate this is absolutely doable and that we want it to be done as fast as possible

Tesla

Vehicle Structure

• Lighter

• Stiffer

• Better NVH

• Better in pretty much every way when compared to stamped underbody construction

Manufacturing

• Model Y requires only 30% of robots needed to produce vehicles as required by the Model 3

• Improved layout of factory where it is now a signal monolithic factory

Tesla

• Eventually all cars will be self driving but it will be hard to replicate Tesla's manufacturing capabilities

Working at Tesla

• Employees are free to switch between SpaceX & Tesla

• Factory safety has dramatically improved, Elon believes they now have the safest factories in the business

• Tesla has encouraged employees to submit suggestions on improving factory safety with a goal of 3 suggestions per employee (They have since met that goal and safety has increased as a result)

• 3M job applicants over last year

Supercharger Network

• 99.96% uptime

• Continue to deploy V3 Superchargers, V4 set to be deployed next year

• Elon mentioned that more good news regarding the Supercharger network is coming

Safety

• Tesla has a very detailed feedback loop when it comes to vehicle crashes

• Auto seat belt tensioning is an example of how Tesla continues to improve safety via OTA updates

• Activated via Autopilot AI when a crash is 99.99%+ sure to happen

FSD Beta

Tesla

• Tracking to well over 100M miles by end of 2022

• Wide spread release by end of 2022, will be available to anybody who requests it

AI Day: Part 2

• September 30th, 2022

• Elon believes Optimus will turn the notion of what an economy is on its head

Next Decade

• 10 years ago they had less than 3000 cars, now its more than 3M

• Elon thinks vehicle production should be able to exceed over 100M 10 years from now

Questions

Plans for Cash

• Tesla has used a small amount of its available cash for acquisitions and that will continue to be the case unless the right opportunity arrises (automation, software, manufacturing, etc.)

• Spending CapEx and R&D money as fast as they can without wasting it

• Share buyback may be in the cards as long as there isn't another force majeure event

Factories

• 12 factories seems to be the perfect number with a maximum production rate of 2M vehicles per factory

Cybertruck

• Specs and pricing will be different (a lot has changed since 2019)

• Inflation and various issues are to blame

• Production equipment & tooling will begin getting installed in Giga Texas, volume production still targeted by mid-2023

US & China Tension

• Elon hopes for peace and respect between the US & China

Supercharger Locations

• Permits are extremely hard to obtain in some areas (ex. Malibu)

• Tesla continues to prioritize new Supercharger locations by busiest locations

• Elon mentioned there will be an online poll where people can vote where they want new Supercharger locations built

• Trying to do more fun things when it comes to Supercharger locations (ex. Futuristic Diner in Hollywood)

4680 Output

• Tesla is making a decent number of 4680 cells each week and Elon projects that they'll be in high volume production by end of 2022

• 4680 production does not yet impact vehicle output however it will in 2023

Master Plan

• New master plan not yet ready, plan to finish it by end of August 2022

Supply Chain

• Most of commodities that go into Tesla vehicles are trending down (cost) over next 6 months which suggests that we are past peak inflation

• Elon thinks we will have a relatively mild recession for 18 months (just a guess) and that inflation should drop rapidly

Autonomy

• AI is going to increase utility of passenger vehicles by 4-5x

• Vehicles will still cost the same to produce so gross margins are expected to rapidly increase

• Elon still believes folks will have the option to own a car, rent it out when they aren't using it, or simply rent somebody else's vehicle (ex. Uber)

• “Optimus will bring the future to now”

Media

• Elon annoyed that most analysts don't drive Teslas which prevents them from having a good understanding of the Tesla customer experience

Succession

• Elon believes in strong product roadmap that will lead to success for quite some time

• Elon intends to stay with Tesla as long as he is useful, plans to continue to closely focus on factory & product design 

• Tesla would continue to do well even if he was kidnapped by aliens (or returned to his own planet haha)

• The only publicly traded securities Elon owns are $TSLA and $TWTR

• Believes he has a good sense of where to point the engineering team at $TWTR to make it radically better

• Thinks Twitter would accelerate his original vision of x.com by 3-5 years and be something that is very useful to the world

Tunnels

• Elon wanted to clarify he is pro-train

• Elon believes tunnels could solve virtually any traffic problems around the world and allow above ground road space to be reclaimed for parks

Dojo & Tesla Communicating w/ Each Other

• Goal #1 is to be really good at video training

• Approaching at being the 3rd most powerful super computer in the world (geared for AI training)

• Fundamentally focused on NN training which has never been done before

• Some merit with Teslas communicating with each other but not needed for FSD (traffic, accidents, pot holes, etc.)

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Tesla Eliminates Front Casting on New Model Y; Improves Rear Casting

Not a Tesla App

Tesla has pioneered the use of single-piece castings for the front and rear sections of their vehicles, thanks to its innovative Gigapress process. Many automakers are now following suit, as this approach allows the crash structure to be integrated directly into the casting.

This makes the castings not only safer but also easier to manufacture in a single step, reducing costs and improving repairability. For example, replacing the entire rear frame of a Cybertruck is estimated to cost under $10,000 USD, with most of the expense coming from labor, according to estimates shared on X after high-speed rear collisions.

These insights come from Sandy Munro’s interview (posted below) with Lars Moravy, Tesla’s VP of Vehicle Engineering, highlighting how these advancements contribute to the improvements in Tesla’s latest vehicles, including the New Model Y.

However, with the new Model Y, Tesla has decided to go a different route and eliminated the front gigacast.

No Front Casting

Tesla’s factories aren’t equipped to produce both front and rear castings for the Model Y. Only Giga Texas and Giga Berlin used structural battery packs, but these were quickly phased out due to the underwhelming performance of the first-generation 4680 battery.

Tesla has gone back to building a common body across the globe, increasing part interchangeability and reducing supply chain complexity across the four factories that produce the Model Y. They’ve instead improved and reduced the number of unique parts up front to help simplify assembly and repair.

There is still potential for Tesla to switch back to using a front and rear casting - especially with their innovative unboxed assembly method. However, that will also require Tesla to begin using a structural battery pack again, which could potentially happen in the future with new battery technology.

Rear Casting Improvements

The rear casting has been completely redesigned, shedding 7 kg (15.4 lbs) and cutting machining time in half. Originally weighing around 67 kg (147 lbs), the new casting is now approximately 60 kg (132 lbs).

This 15% weight reduction improves both vehicle dynamics and range while also increasing the rear structure’s stiffness, reducing body flex during maneuvers.

Tesla leveraged its in-house fluid dynamics software to optimize the design, resulting in castings that resemble organic structures in some areas and flowing river patterns in others. Additionally, manufacturing efficiency has dramatically improved—the casting process, which originally took 180 seconds per part, has been reduced to just 75 seconds, a nearly 60% time reduction per unit.

Advancements in die-casting machines and cooling systems have allowed @Tesla to dramatically reduce cycle times and improve dimensional stability. pic.twitter.com/WB5ji67rvV

— Munro Live (@live_munro) March 11, 2025

New Casting Methods

Tesla’s new casting method incorporates conformal cooling, which cools the die directly within the gigapress. Tesla has been refining the die-casting machines and collaborating with manufacturers to improve the gigapress process.

In 2023, Tesla patented a thermal control unit for the casting process. This system uses real-time temperature analysis and precise mixing of metal streams to optimize casting quality. SETI Park, which covers Tesla’s manufacturing patents on X, offers a great series for those interested in learning more.

The new system allows Tesla to control the flow of cooling liquid, precisely directing water to different parts of the die, cooling them at varying rates. This enables faster material flow and quicker cooling, improving both dimensional stability and the speed of removing the part from the press for the next stage.

With these new process improvements, Tesla now rolls out a new Model Y at Giga Berlin, Giga Texas, and Fremont every 43 seconds—an astounding achievement in auto manufacturing. Meanwhile, Giga Shanghai operates two Model Y lines, delivering a completed vehicle every 35 seconds.

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Tesla’s Hands-Free Trunk and Frunk – Supported Models, Phones & How to Set Them Up

Not a Tesla App

Having the ability to open your trunk hands-free can be incredibly useful when your hands are full, especially in a busy parking lot.

Tesla vehicles now support opening the vehicle’s trunk or frunk completely hands-free — no foot waving required.

What is Hands-Free Frunk and Trunk?

Tesla implemented its hands-free feature by leveraging your phone’s position in relation to the vehicle. When you stand still behind your vehicle, the trunk will automagically open for you.

While this functionality isn’t available on every vehicle, it’s available on every vehicle Tesla manufactures today, including the new Model Y, the Cybertruck and other recent models.

With a compatible device and a supported vehicle, you can now open your Tesla’s trunk hands-free.

How It Works

Tesla’s hands-free feature requires the use of ultrawide-band (UWB) in the vehicle and on your phone. Apple and Samsung have supported ultra-wideband for a number of years and most flagship Android devices also support the low-energy feature.

Ultra-wideband allows another device to precisely detect its relative location. In this case, the vehicle is tracking where the driver’s phone is in relation to the vehicle. Since the vehicle is able to more precisely track the phone’s location, ultra-wideband also improves Tesla’s phone key feature.

Since the vehicle depends on your phone, you’ll need to have your phone on you in order to activate the hands-free feature. Simply stand within 2.5 to 3 feet from the front or rear of your vehicle for the frunk or trunk to open. You’ll then hear a couple of chimes. If you continue to stand still, then your frunk or trunk will open automatically.

The chimes serve as a warning that the trunk will open if you don’t move, which helps reduce accidental openings.

Hands-Free Trunk in Action

The video below shows how Tesla’s hands-free trunk feature works.

Supported Models

Since Tesla uses ultra-wideband to power the hands-free feature, only vehicles with the needed hardware are supported. The list of supported vehicles includes:

• 2021 Model S and later

• 2021 Model X and later

• 2024 Model 3 (Highland) and later

• 2026 Model Y (Juniper) and later

• All Cybertrucks

Supported Phones

Your phone will also need to support UWB. Luckily, most manufacturers have included UWB in their devices for several years.

Apple: All Apple devices since the iPhone 11 have included UWB, except for the iPhone SE (2nd and 3rd generation). The iPhone 16e also has UWB.

Android: Most Android phones - especially flagship devices - already support and use UWB for other uses, but it’s not available on all phones. If you have a Google Pixel 6 or higher, Samsung Fold 2 or higher, Samsung S21+, or other recent Android phone, then your phone already supports ultra wideband.

Which Models Support Hands-Free Frunk

Unfortunately, not every supported model supports the hands-free frunk and trunk feature. The hands-free frunk feature is only supported on the Model S, Model X, and the Cybertruck. In addition, the Cyebrtruck is the only vehicle with a powered frunk, so while the Model S and Model X will unlock the frunk for you, you’ll still need to lift it and close it manually. The Cybertruck will open the frunk for you, much like the trunk on another Tesla.

Which Models Support Hands-Free Trunk

While most supported Tesla vehicles can use the hands-free trunk, it excludes the Cybertruck, which doesn’t have a powered trunk.

Enable Hands-Free Trunk / Frunk

If you plan to use your vehicle’s hands-free trunk feature, you’ll need to enable it in settings, as it’s off by default. Simply open Controls by tapping the vehicle icon in the bottom left corner, then navigate to the Locks section.

Within the Hands-Free section, you’ll find a few options, depending on your model. You’ll be able to choose whether to enable the hands-free frunk or trunk and whether you’d like to disable the feature at home.

Preventing Accidental Opening - Exclude Home

Although the hands-free feature requires you to stay still in front or behind your vehicle for a couple of seconds, it can still be triggered accidentally if you’re working around your garage. To prevent accidental opening of the frunk or trunk, Tesla allows you to disable the feature while your vehicle is parked at home.

Tesla determines your home location by the address that’s set in your vehicle. However, it also adds a buffer, meaning that your hands-free trunk feature will also not work in your driveway or at your neighbor’s home. The exclude home feature is located in the same spot as other hands-free trunk features, Controls > Locks > Hands-Free > Exclude Home.

If you have a recent Tesla that’s supported, go ahead and give the feature a try.

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