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 Software Update 2025.2 -- The Lesser Known Features (Undocumented Changes)

@TeslaNewswire

Another Tesla update has finished rolling out to the fleet and we once again have a list of undocumented features in this update. Tesla update 2025.2 was the first update of the year and it brought along features such as wiper improvements for the Cybertruck, support for the cabin radar, and third-party charger preconditioning.

However, other changes made it into the release as well but weren’t mentioned in the release notes. If you love following Tesla software changes or just want to be aware of all changes in your vehicle, these will help keep you updated.

Autopilot Warnings

Tesla has now carried over some of the updated warnings from FSD to regular Autopilot.

Warnings such as “Autopilot will not brake” when the accelerator pedal is actively pressed and others will now be presented at the top in a translucent rectangle, instead of near the bottom, where they can be easily missed.

Supercharger Notification

Not a Tesla App

After using a Supercharger, your vehicle will now display a notification with the total cost of the charging session. In addition to the cost, the alert will also display the location, total energy added, and the cost per kW/h.

This is a really nice addition as it brings the price of the charging session front and center when it matters most — as soon as you’re done charging. Previously, you could navigate to Controls > Charging to see the cost of charging.

Recommended Tire Pressure

Not a Tesla App

The Tire Pressure card on the Model 3 and Model Y will now show you the recommended tire pressure in the bottom left corner of the card. It continues to display the tire pressure reading for each wheel.

Service Mode

Max Bracco / X

As usual, Service Mode sees several improvements to make serving your vehicle easier.

Brake Burnishing: The Brake Burnish procedure parameters have been updated to reduce the need for coming to almost a complete stop during each cycle.

Legacy Model S and Model X only.

Charge Port Calibration: The charge port door calibration routine (PROC_CP_X_DOOR-SENSOR-CALIBRATION) and charge port latch calibration route (PROC_CP_X_LATCH-CALIBRATION) have been added to the Charging panel. Those routines are required to be run following the replacement of the charge port or charge port door.

All Model 3s and Model Ys.

Signal Viewer Panel: A new Signal Viewer panel is available to monitor multiple signal values live on a graph. If one or more of the signal values is unavailable, the graph will stop updating. To access the new panel, tap Tools > Signal Viewer.

All vehicles with AMD Ryzen.

Noise Recording Panel: To improve the user experience, the recording duration has been decreased to 30 seconds, and reliability of the download routine PROC_ICE_X_FETCH-DIAGNOSTIC-AUDIO-RECORDS has been improved.

Cybertruck only.

Next Update

If you want to read about the official changes in this update, check out our release notes for 2025.2.

Tesla has now started pushing software update 2025.8, but it’s currently only going out to a very small segment of vehicles. It’ll soon go out to more owners in larger waves, but if you’re interested in seeing what’s coming take a look at our 2025.8 update release notes and the undocumented features we’re aware of so far.

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Tesla Reveals Number of Cybertrucks Sold in Trim Replacement Recall

@TeslaTruckClub on X

Tesla has issued a voluntary recall for all Cybertrucks built to date, for an issue with the Cant Rail - the upper trim piece on the sides of the vehicle that sits above the window glass. This is a pretty big deal that it reveals some key information - in fact, it is the Cybertruck’s first full-blown recall that will impact all vehicles.

The Issue

The Cant Rail, being a thin piece of metal attached to a narrow portion of the vehicle, is currently held down by a single bolt and automotive-grade adhesives. Tesla has noted that the adhesives are becoming brittle due to heat and cold cycles over time, resulting in some vehicles having the trim pieces either break or fall off.

This has been an ongoing issue with the Cybertruck - but was previously considered resolved as the issue mostly went away as Tesla improved their adhesive application. 

As of March 20th, Tesla issued a voluntary recall to address the problem after conducting an engineering survey to determine a fix.

Tesla Reveals Number of Cybertrucks Sold

Tesla doesn’t break out Cybertruck sales on their earnings report, instead lumping it into an “Other Models” category that includes Model S, Model X, and Semi sales in addition to the Cybertruck. Since Tesla needs to reveal how many Cybertrucks are affected by this issue, this is our first official glimpse into how many Cybertrucks Tesla has sold.

The recall shows that Tesla has sold 46,096 Cybertrucks to date, which is the number of vehicles recalled. An estimated 1% of vehicles (approximately 460) have the defect, and Tesla has had 151 warranty claims to date in relation to the Cant Rail issue, which have already been remedied. As usual, no fatalities, collisions, or other injuries are related to this issue have been noted.

You can review the recall notice here if you’re interested.

The Fix

The fix to this issue is to fully replace the Cant Rail. That means that Tesla will be removing the existing Cant Rail from the vehicle - which is attached with adhesives - and then replacing it with a new part that uses a new structural adhesive that will not face environmental embrittlement, alongside being reinforced with a nut that will clamp the panel to the vehicle’s structure. Tesla will also weld the panel with an interior stud, solidifying the whole assembly.

Overall, it doesn’t sound like it’ll be a quick and easy fix, but it will be a very solid fix that should make sure that no more of these trim pieces fly off.

Wraps and Coatings

Those who have wrapped, coated, or otherwise treated the surface of their Cybertrucks will be in for a bit of a problem with this particular recall. The existing Cant Rail will be entirely removed from the vehicle, and replaced with a new piece, as mentioned above.

Because of this, the old Cant Rail exterior will no longer be on your vehicle - which includes your wrap or coating. When you go in for this recall, you will need to get the Cant Rails on your vehicle re-wrapped or re-coated, at your own expense.

Tesla is not providing reimbursement at this time for wraps or coatings done by third parties. If Tesla has installed your wrap due to a wrap promotion or through the in-house Tesla Wrap Program, you’ll want to confirm with your local service department if they can source and replace the wrap. 

At this time, there’s been no official guidance from Tesla on in-house wraps, but we expect that because this is a recall and the wrap is a service from Tesla. Hopefully, we’ll hear something officially soon.

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