On June 13th local time, Austin, Texas, USA welcomed what may be the most anticipated Tesla shareholder meeting to date. Just a few days ago, people were still doubting whether Tesla CEO Elon Musk could get back the sky high $56 billion performance-based pay as he had hoped, but now these doubts have been dispelled. As Musk revealed in the early spoilers on the 12th, Tesla proposed approving the grant of 100% performance-based stock option rewards to Musk, with the board recommending approval and the voting result approving.
Subsequently, Musk took the stage amidst enthusiastic applause from shareholders. He appeared to be in high spirits, dancing and walking onto the stage. Musk was undoubtedly very satisfied with the shareholder voting results.
In his speech, Musk introduced Tesla's achievements in the past year and predicted that Tesla's market value would reach 10 times its current level in 5 years. He also proposed that Tesla's market value has the potential to grow to 10 times the current highest value company. At present, Apple's market value is about 3.3 trillion US dollars, which means Musk believes that Tesla's future market value may exceed 33 trillion US dollars.
Musk: Optimus has a future market value of $25 trillion
The Tesla humanoid robot Optimus is currently Tesla's most highly anticipated product in the market. From the applause on site, Musk's outlook on Optimus has excited shareholders.
In his speech, Musk mentioned that the price of Optimus may be as low as $10000, far lower than the price of a car. If each unit is priced at $20000, Tesla can profit $1 trillion annually.
He introduced that Optimus has made tremendous progress in a very short period of time. Manufacturing Optimus started from scratch and requires strong AI capabilities, manufacturing capabilities, powerful batteries, and so on. It requires a strong hand of good cards to create Optimus. The on-site video also once again showcases Optimus sorting batteries in the factory. He also introduced that Optimus can now learn by watching videos.
Musk stated that Optimus will begin limited production next year and undergo testing in the factory. "Next year, there will be over 1000 or even thousands of Optimus units working in Tesla's factory," he said
Looking ahead, Musk believes that there will be over 10 billion, or even 20 billion robots on Earth.
The next generation Optimus has 22 degrees of freedom and will play the piano, "but we need to ensure that there won't be scenes like Terminator (machines vs. humans), which is very important."
For the value of Optimus, in Musk's view, even the most optimistic predictions may be too conservative. "I believe Optimus' market value will reach $25 trillion, and achieving this goal requires tremendous effort. We are accelerating our progress."
In the shareholder Q&A session, Musk added that Optimus will evolve quickly and may be able to complete a large number of different orders by 2026.
A shareholder asked if Optimus would have some kind of personality that can be set by users. Musk replied, "You can customize your personality, customize its sound, and it will understand you."
Tesla's market value is expected to exceed $30 trillion
Musk pointed out that the production of electric pickup trucks Cybertruck has reached a new high of 1300 units per week, with the goal of reaching 2500 units per week by the end of 2024, or a monthly delivery volume of over 10000 units.
Musk also gave high praise to the redesigned Model 3, calling it a "fantastic car". He reiterated the achievement of Model Y being the world's best-selling car and predicted that, based on sales, Model Y will once again become the world's best-selling car in 2024.
Regarding the electric truck Semi, Musk said that he just approved the mass production of the electric truck Semi last week.
Semi is not only environmentally friendly, but commercially speaking, its economic benefits are much higher than diesel trucks. If the company wants to make money, it should use Semi, and we believe that the sales scale of Semi will significantly increase in the future.
In addition, Musk presented a product roadmap and said that products that have not yet been revealed will be very unique, "although some people think there won't be anything unusual, you just need to wait and see, it will be amazing."
He also emphasized that Tesla's supercharging network is still expanding, but the company will be more cautious in choosing the location of charging stations. Tesla will invest $500 million this year to expand its supercharging network.
Musk also reiterated his goal of manufacturing "affordable" electric vehicles, pointing out that cost remains a limiting factor in demand. If the price of Model Y is below $20000, annual sales may reach 5 million units. "We must make vehicles affordable, which is crucial," he said
Musk emphasized that car companies are not software companies, while Tesla is a hardware and software company, which is important. He pointed out that Tesla is an unquestionable leader in the field of artificial intelligence in the real world.
Regarding Robotaxi, Musk introduced that the company's fleet will be a combination of Uber and Airbnb; And the private cars owned by car owners, like Airbnb, will increase their weekly usage time from 10 hours to 50-55 hours. He said he believes that the money car owners earn through Robotaxi every month will far exceed their expenses on the vehicle.
When asked when Tesla will reach the top of the world's highest market capitalization companies, Musk said that the Ark Fund's prediction for Tesla is the most accurate. By 2029, Tesla's market value will reach $7 trillion, which means that in five years, its market value will reach 10 times its current level. At the same time, he also agrees with the Ark Fund's prediction of Tesla's autonomous driving, believing that the market value of autonomous driving will eventually reach $5 trillion, meaning that with the support of autonomous driving and humanoid robots, Tesla's market value will exceed $30 trillion.
As of the close on the 13th, Tesla rose 2.92% to close at $182.47, with a market value of $581.9 billion.