5 Things To Remember From Tesla Cyber Roundup With Elon Musk In 2022

EM360 TECH

Published on
05/08/2022 12:31 PM

The Tesla Gigafactory Texas hosted the annual shareholder gathering, now known as the Tesla Cyber Roundup, on Thursday. While there were 13 shareholder proposals on the agenda with the focus to boost the company’s stock prices, some other major developments took place as well.

Here are the five things to remember from the Tesla Cyber Roundup, 2022

Tesla Optimus Humanoid Is Not A Joke

Disappointed by the fact that many tech analysts are not gauging the worth of the new Tesla Optimus robot, Musk said that it would go on to become a lot more valuable than the electric cars that the company was built around.

A fresh photograph of the prototype Optimus humanoid robot was released at the Tesla Cyber Roundup as a teaser in advance of its major debut on September 30. The robotic hands of the Tesla Optimus prototype could be seen in the photograph.

Although it was plainly a joke and was criticised as a lofty endeavour, Musk introduced the project at the first AI Day by appearing on stage with a person dressed in a robot costume. However, the CEO has been putting more effort into the project.

Optimus teaser at tesla cyber roundup 2022

Many were shocked when the CEO even stated that the business intends to begin producing the robot in 2023. This project has a very ambitious timeframe, although Musk has said on several occasions that it has gained priority.

Approved ‘Three-For-One’ Split Share

The three-for-one stock split, which would lower Tesla's shares to around $300, was approved by shareholders that the Tesla Cyber Roundup. However, it's unclear exactly when that will take place.

The announcement of the shareholders’ proposal was first made on Twitter by Tesla on March 28. Elon Musk is always shrewd in how he utilises Twitter to influence the stock prices of the company. Tesla's stock has increased 20% from its June lows when the controversy surrounding Musk's planned purchase of Twitter was at its height. In after-hours trading on Thursday, shares increased to $928.55.

Also Read: Tech Giants And Their Remote-Working Policies

Ethical Improvements Are Likely To Fail

The shareholders have demanded better reporting and more openness over complaints of sexual, racial, and gender harassment. Tesla's lobbying activity and use of child labour in battery material mining were also questioned. In order to better reflect Tesla's employees, they have also sought greater diversity on the board.

Although the results of the voting have not yet been tallied, early indications suggest that Tesla shareholders have rejected all of these ideas to implement these “ethical improvements”.

Increasing The Number Of Gigafactories

more gigafactories - Tesla Cyber Roundup

Musk hinted that a different gigafactory site may be selected later this year. Additionally, he mentioned that Tesla will likely construct "at least 10 or 12 gigafactories." In 2017, Musk stated that the business will eventually construct between 10 and 20 gigafactories.

Tesla vehicles are still in strong demand, so it makes sense that Musk would want to increase the size of the automaker's plant. Tesla recently produced its three millionth vehicle, according to Musk, who reiterated the company's objective to reach a 2 million vehicle run rate by the end of 2022.

Further Development On AI Based Driver Assistance System

Musk reaffirmed his goal to quickly expand Tesla's full self-driving (FSD) beta advanced driver assistance system.

We’re now at over 40 million miles and I suspect by this year we’re gonna have well over 100 million miles,” said Musk. “And we’re still tracking very much to have widespread deployment of FSD beta this year in North America,” said Elon Musk.