Tesla Cybertruck updates: Will have mirrors, rear-wheel turning and price update?

By Nuno Cristovao

The Cybertruck has an iconic design that's smooth and aerodynamic. It's recently been rumored that the Cybertruck's design stemmed from the need for the vehicle to be very aerodynamic, hence the smooth, large windshield and the tonneau in back. Without the Cybertruck's aerodynamic design, the vehicle would need larger batteries, and would likely be more costly. Price

Tesla Cybertruck to comes with mirrors
Cybertruck mock based on the video below. Credit @TeslaTruckClub/Twitter

The Cybertruck was priced at under $40,000. For that price the Cybertruck certainly brings a lot of value. Although Tesla has just removed pricing for its electric truck from its website. You can still place a reservation for $100, but the price of the vehicle is no longer shown. This could mean that Tesla is rethinking the price of the truck. The truck was initially set to begin production late this year, but has now been pushed to next year.

Mirrors

Tesla had planned for the vehicle to not have any mirrors, which certainly distracts from its design. Tesla knew it was facing an uphill regulatory battle. Elon confirmed on Twitter that the Cybertruck will come with mirrors. At least for now.

Tesla Cybertruck spotted with mirrors and other changes
Cybertruck spotted with mirrors and possibly other changes

Elon goes on to elaborate that although the Cybertruck will come with mirrors from the factory, they are designed to be easily removed by owners.

We'll see how this plays out with local laws for any individuals who decide to remove their mirrors. Although, it likely means that Tesla will be offering a software solution for owners who do decide to remove their Cybertruck's mirrors. We had a sneak-peak into the Cybertruck's UI earlier this year.

Tesla will likely utilize the fender cameras to display video on the screen when a turn signal is initiated.

A Tesla fan found a what appears to be Tesla testing the Cybertruck's turning radius in a parking lot. The Cybertruck appears to have side mirrors in addition to other tweaks such as a windshield wiper and possibly a shorter frunk.

Rear Wheel Steering

Elon confirmed this summer that the Cybertruck will include rear wheel steering. For being a larger vehicle, having rear wheel steering will certainly help maneuver in tight situations, such as parking. However, I wouldn't be surprised if Tesla has something special up their sleeves here. In the same tweet where Elon announced that the Cybertruck will have rear wheel steering, he also said that there are lots of other great things coming, presumably to the Cybertruck.

Delay

The Cybertruck was initially set to go into production in late 2021, but that has since been changed to the end of 2022. There could be various reasons why, but it's likely that the global shortage is likely affecting Tesla production as well. Tesla is selling every car they make and the wait for a new car is months into the future. There's no need for Tesla to rush into producing the Cybertruck only to limit their sales of current vehicles even more.

More Changes Coming?

Tesla has a large team of designers and engineers on their hands. They likely won't start designing the next thing yet, as Tesla won't have the means to produce them. Tesla already has a list of vehicles they're waiting to produce, including the Cybertruck, the Roadster 2 and the Semi.

Tesla Cybertruck size compared to a Model Y
Tesla Cybertruck size compared to a Model Y

Tesla designers and engineers may use this additional time to tweak future vehicles such as the Cybertruck. We may see more additions to the Cybertruck, especially given the new competition Tesla will have with the Rivian R1T.

Tesla's Shareholder Event: Vote Results And Video Replay

By Karan Singh
Not a Tesla App

Yesterday on X, Elon Musk posted that the two key resolutions for the upcoming Shareholder Meeting were both passing by wide margins – and would subsequently go on to pass at today’s Shareholder Meeting.

Musk Compensation Package and Tesla’s Move to Texas

The two key resolutions, one on Elon Musk’s performance-based compensation package, and the other on Tesla’s re-incorporation to Texas, both passed in the preliminary stages. Each required a minimum number of ‘Yes’ votes to pass at the Shareholder Meeting.

The performance-based compensation package only required a simple majority – a certain number of Yes votes, with abstentions not counting as Nos. On the other hand, the move to Texas required a full majority, with abstentions counting as Nos.

Elon Musk declared his victory on X in these two key votes, and Tesla’s share prices moved favorably in post-market, and then again in pre-market trading. This is a positive indicator for Tesla and Elon Musk. On X, Elon recently agreed that given he has received a controlling stake in Tesla, he would work towards making Tesla the most valuable company on Earth.

Other Resolutions

The first five proposals are Tesla corporate proposals, while the remainder are shareholder proposals, and are covered in the table below. For more details, you can read Tesla’s Proxy Package. The proposals are ordered below in the order of presentation.

Resolution

Status

Elect 2 Directors for a 3 Year term (James Murdock, Kimball Musk)

PASS

Non-Binding Advisory-basis Executive Compensation

PASS

Move Tesla to Texas

PASS

Elon Musk’s Compensation Package

PASS

Appoint PricewaterhouseCoopers as Tesla’s accounting firm.

PASS

Reduce Director Terms to 1 Year

FAIL

Simple Majority Stockholder Voting

FAIL

Annual Report on Anti-Harassment and Discrimination

PASS

Freedom of Association and Collective Bargaining Policy

PASS

Report on EM Radiation and Wireless Technologies, and effects on humans.

PASS

Adopting targets and reports for sustainability metrics for executive compensation

PASS

Moratorium on sourcing minerals from deep-sea mining.

PASS

Shareholder Meeting Event

You can view Tesla’s shareholder meeting below:

Tesla Likely to Launch Robotaxi Service in Next 5 Years, May Account for 90% of Future Profit

By Karan Singh
ARK Invest

Tesla is on the verge of its Robotaxi announcement event on 8/8, and major investors like Ark Invest are examining and refreshing their bull case scenarios.

Robotaxi as a Focus

Ark Invest sees Robotaxi as a focus of Tesla’s ongoing business and sees Tesla’s autonomous ride-hailing revenue to net nearly $1 trillion in 2029. In comparison, they estimate Tesla’s vehicle sales to account for $0.4 trillion in revenue. With this bull case, Ark Invest also sees Tesla’s share price soaring to $3,100 by 2029. Ark Invest’s bear case sees the share price moving to $2,000 and robotaxi netting $0.63 billion in revenue.

Ark Invest gives Tesla a 58% chance of launching its robotaxi service in 2025, and a 38% chance in 2026. It’s clear that Tesla’s future lies in operating a fleet of autonomous vehicles and the question is just when it will happen. Given FSD’s massive improvements between FSD V11 and FSD V12, there is a possibility of Tesla meeting these estimates, although a lot depends on how fast improvements will continue to come. While FSD V12 is impressive, it’s still a long way from a true autonomous vehicle.

Rate of Improvement

Miles driven by Tesla FSD versus autonomous competitors
Miles driven by Tesla FSD versus autonomous competitors
ARK Invest

Ark’s case is focused on the fact that FSD’s rapid improvement will continue, and a lot of that may be determined with the next few releases, including FSD 12.4.1, v12.5, and v12.6. When comparing Tesla to autonomous vehicles, Tesla has a drastic lead in miles driven, in fact, it’s so large that you can barely even see Tesla’s competitors. Tesla is at 1.3 billion miles driven with FSD, while the closest competitors are just reaching 15 million autonomous miles driven. While there’s a drastic difference in capabilities between Tesla’s FSD and autonomous vehicles such as Google’s Waymo, Tesla has the ability to gather data 86 times quicker.

Training data is key to building autonomous vehicles, and Tesla is currently the king of vehicle-related data.

Services Company

We previously wrote about whether Tesla’s future will be as a car company or a services company – and major investors such as Ark Invest and Morgan Stanley see Tesla’s AI services as a major driver of business in the future, and the focus of future revenue and profits.

Robotaxi, as both a service and as a physical product, has the opportunity to shake up markets in a unique way, providing quick, clean, and safe transportation between local destinations in urban areas, which could quickly outcompete traditional services like taxis, and tech competitors like Uber or Lyft. The market for robotaxi is untapped and massive, but Tesla isn’t the only one chasing the goal.

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