Key Revelations from Tesla’s 2024 Shareholder Meeting

At Tesla’s 2024 shareholder meeting, Elon Musk spoke about several innovative and exciting topics. From the exponential progression of autonomous driving to the future of Robotaxis and Optimus, here’s a look at the biggest announcements and what they mean.

Better FSD Performance

Elon Musk began by addressing the exponential improvement in fully autonomous driving (FSD). He mentioned that the progress curve towards autonomy continues to grow rapidly.

Fully autonomous driving (FSD): An automated driving system that allows the car to move without human intervention.

Robotaxi: An Airbnb for Cars

Musk also explained the concept of Robotaxi, where Tesla owners will be able to add or remove their cars from the fleet at will, like an Airbnb. This model could transform vehicle economics and add immense value to Tesla.

Robotaxi: Autonomous taxis managed by fleets, including those owned by users.

Future Value: Optimus and Autonomy

Ark Invest projects a $5 trillion valuation for Tesla, just taking into account the vehicle’s economics. Musk drew attention to the enormous value potential of Optimus, estimated at $20 trillion.

Tesla Impacts and Innovations

The presentation also highlighted Tesla’s efforts to be more environmentally friendly and efficient. The company is getting closer to producing 7 million vehicles and Musk stressed that the Cybertruck will be a cutting-edge product. The improved vehicle range also includes the new Model 3 Plus and the Tesla Semi, an innovative semi-trailer.

Supercharger Network

This year, Tesla plans to deploy more Superchargers than the entire industry combined.

Superchargers: Fast charging stations for Tesla electric vehicles.

Development of 4680 Battery Cells

The problem of producing battery cells is complex, as some companies are dedicated exclusively to this task. Tesla is making great strides in this area.

Growth in the Energy Storage Sector

Tesla is also planning a massive increase in energy deployments, showing their ability to keep up with the growing demand for renewable energy.

Software at Tesla

Musk emphasized the large part of software development at Tesla, stating that it is as much a software company as it is a hardware company.

Artificial Intelligence: Tesla in the Lead

He also claimed that Tesla is ahead of Google, Meta and OpenAI when it comes to real-world AI.

Chips and Networks

Musk mentioned Tesla’s advantage in hardware: Tesla has the best chips for its vehicles, even outperforming Nvidia’s.

Future AWS Opportunities

With a fleet of more than 100 million vehicles, Tesla envisions distributed computing capacity similar to that of AWS.

Reduce FSD Interventions

The average distance between FSD interventions is increasing, which demonstrates the effectiveness of autonomous driving.

Optimus optimization

One of the most anticipated subjects was the Optimus robot. Elon said that the progress in its development is rapid and it will be able to carry out useful tasks in the industry soon. Optimus is also planned to be equipped with extensive language models (LLM), which will make it very interactive.

Questions and answers

Throughout the meeting, Elon answered numerous questions, including personal thanks for his sacrifices and investments in Tesla.

Future and Continuing Developments

Finally, Musk discussed various topics ranging from the valuation of Tesla, battery management, and even the possibility of internationalizing the Cybertruck next year. He also shared that he sees huge potential for Optimus robots in several tasks by 2026.

It is clear that Tesla continues to position itself as a leader in the automotive and technology industry, with groundbreaking developments and a vision for a more autonomous and sustainable future.

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