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LIVE BLOG: Tesla 2024 Cyber Roundup (Annual Stockholders’ Meeting)

Credit: Tesla

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2 years ago

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Tesla’s (NASDAQ:TSLA) 2024 Annual Stockholders Meeting, also known as the 2024 Cyber Roundup, is here. There’s a notable degree of excitement surrounding the event, thanks in no small part to Elon Musk’s post on X stating that TSLA shareholders are strongly on track to approve the ratification of his 2018 CEO Performance Award and the proposed redomestication of Tesla from Delaware to Texas. 

Tesla has posted a link to the official livestream of the 2024 Cyber Roundup on social media platform X. Images posted by Tesla investors who are at Giga Texas show that the event hall where the meeting will be held is now filling up. Based on videos and photos that have been shared of the 2024 Cyber Roundup so far, it would appear that TSLA stockholders are currently in good spirits. 

Tesla’s 2024 Cyber Roundup is expected to begin with stockholders voting on a number of key proposals. Following this, a Q&A session with CEO Elon Musk and a number of other executives is expected. 

The following are live updates from Tesla’s 2024 Cyber Roundup. I will be updating this article in real-time, so please keep refreshing the page every minute or two to view the latest updates on this story.

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17:53 CT – And that ends Tesla’s 2024 Annual Stockholders’ Meeting! Elon Musk thanks the company’s shareholders for their support before exiting the stage.

17:50 CT – A Tesla investor asked about lithium refining and if the company would need to expand past Texas. Musk noted that there’s enough lithium if China is included, but if there’s a geopolitical conflict, then lithium might be a limiting factor.

17:47 CT – An investor asked about Tesla without Elon. Musk noted that while he is a helpful accelerant to Tesla’s future, he believes that the company will be fine after him. But as things stand today, his biggest contribution to Tesla is the fact that he accelerates the company’s innovations. “What matters is if we can be faster than everybody else,” Musk noted.

17:41 CT – A shareholder asked if Optimus would have some sort of personality that could be set by the user. Musk noted that this would indeed be the case. “You would be able to customize the personality, customize its voice. It will kind of just understand you,” Musk said.

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17:35 CT – Musk noted that the Cybertruck Foundation Series will be ending soon, with non-Foundation Series Cybertrucks being made available next quarter.

17:32 CT – A shareholder asked about the international reception for the Cybertruck. Musk noted that the Cybertruck is designed for North America, but Tesla may be able to get the vehicle certified for other markets next year.

Such a thing, however, requires complexity, and thus, it probably should not be done until the Cybertruck achieves volume production. At that point, the cost grind and other efforts to make the Cybertruck compliant to other markets would begin.

17:28 CT – A Tesla stockholder credited the efforts of the TSLA retail community for their work in encouraging investors to vote for the 2024 Cyber Roundup’s proposals. Musk agreed.

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Another shareholder asked about Tesla’s 4680 project and how it could help vehicles’ affordability. Musk noted that cell suppliers have drastically lowered the prices of their batteries. He also noted that making a car affordable is like playing Game of Thrones but with pennies. Thus, battery cells are only one part of the equation.

Tesla is seeing a path to cost parity with its battery efforts this year, Musk noted.

17:24 CT – A TSLA stockholder asked about Donald Trump admitted that he loves Tesla and Musk’s work. Musk joked that he could be persuasive, but he did talk to Trump after the presidential candidate called him. Musk also noted that a lot of Trump’s friends drive Teslas, and the candidate is a fan of the Cybertruck.

Another shareholder asked about the robotaxi’s steering wheel-less design and how Tesla would handle interventions in such a vehicle. Musk noted that such vehicles will be extremely cautious so the probability of the car hurting a pedestrian would be incredibly low. But in cases when an intervention is needed, Musk noted that Tesla could probably control its driverless cars remotely.

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17:20 CT – A shareholder asked if Tesla is still working on an HVAC system. Musk acknowledged the question, stating that Tesla has a lot of innovations that can be used to make a good system. It is, however, not super high on Tesla’s things to do.

Another stockholder stated that the Tesla Cybertruck is really a hit with kids. The shareholder asked Musk if Tesla would eventually allow kids to tour the company’s factories. Musk stated that something like kid-friendly factory tours would indeed be rolled out.

17:18 CT – A Tesla shareholder makes the case for more constant FSD transfers. Musk stated that it is tough since the company should have some revenue. He did note that FSD transfers would be active for one more quarter. The audience applauds.

Another stockholder noted that Musk should take care of himself for the sake of Tesla and its shareholders. Musk admitted that he probably needs to work out and not get assassinated or something. He joked that he’s probably on the list of some homicidal maniacs because his name is heard by a lot of people. Musk did admit that he is becoming a bit more cautious.

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17:15 CT – A TSLA stockholder asked when Musk thinks Tesla could be the world’s most valuable company. Musk noted that it’s worth looking at ARK Invest’s analysis as their estimates are the most accurate. Musk noted that a five-year timeline might be feasible.

Another shareholder asked about Tesla’s referral program, and when the company could do a passenger van. Musk noted that the van would be added to his list. He also noted that Tesla will reexamine the referral program next quarter. Musk stated that the referral program increases the price of the car, but Tesla will look into it. “I think some kind of referral program makes sense,” Musk said.

The CEO also noted that the cost remains a limiter for demand. He noted that if the Model Y costs below $20,000, it would probably sell 5 million units per year. “We have to make it affordable. That’s essential,” he said.

17:09 CT – The Q&A sessions begin! The first shareholder thanked Elon Musk for his work in keeping the first amendment. Musk thanked the investor, stating that it’s pertinent for the future of civilization to have free speech.

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Another TSLA stockholder, who worked at Tesla’s sales department, asked if FSD could be bundled with other services to make it more attractive to consumers. Musk noted that FSD free trials should help. “I think we can keep offering people free trials of FSD every time we make a significant improvement,” Musk said.

A TSLA shareholder mentioned Musk’s 2018 CEO Performance Award. Musk stated that it’s important to note that his compensation plan is actually in the form of stock that he would not be able to sell for years. When asked about FSD’s safety, Musk noted that as long as the system is making roads safer, then the company is doing the right thing.

17:00 CT – Musk noted that Tesla is no longer compute-constrained. He noted that interventions are so rare nowadays that Tesla’s professional drivers get bored on the job.

Musk discusses the progress of Optimus, which has seen incredible progress over the years. He reiterated Tesla’s target for limited production next year, and that there might be thousands of Optimus robots working at the electric vehicle maker next year. “My prediction is we’ll have over 1,000, maybe a few thousand Optimus robots working at our factories next year.,” Musk said.

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He teases some key improvements to Optimus, such as its upcoming update that would give the humanoid robot hands with 22 degrees of freedom. As per Musk, Optimus should be able to play the piano with such hands, and that even the most optimistic outlook on Optimus would be conservative. “I think Optimus is a $25 trillion dollar market cap situation; It’s an immense amount of work to get there, but we’re moving very fast down that road,” he said.

16:50 CT – Elon Musk noted that Tesla has completed the design of its Hardware 5 computer, which the company is calling “AI 5.” He noted that so far, everything that consumers are seeing right now is just Tesla’s Hardware 3, which is not even maxed out yet. “We still have a long way to go to reach the limits of Hardware 3,” Musk said.

He noted that Hardware 4 is 3 times to 8 times better than Hardware 3, and Hardware 5 will be 10 times better than Hardware 4. Hardware 5 is expected to be rolled out in about 18 months. Musk shared some exciting updates for Hardware 4. “Later this year we will release a Hardware 4 specific model trained at Gigafactory Texas,” he said.

“AI Hardware 5 will be able to go up to 700 or 800 watts at peak load,” Musk stated.

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16:45 CT – Musk noted that Tesla Energy is tracking for 200-300% growth. “We’re tracking for a 200-300% YoY growth for energy storage deployment in 2024,” Musk said. He noted that the Tesla Powerwall 3 is a game-changing product, and Megapack 3, which will be coming in a couple of years, will be the same. Musk noted that Megapack 3 would be optimized for easy and seamless installation.

He highlighted that Tesla is definitely more than a car company. “We do a lot of software at Tesla,” Musk said. “Car companies are not software companies,” Musk noted, adding that Tesla is actually ahead on real-world AI than any other company.

16:40 CT – Musk mentioned some of Tesla’s future products. He noted that while some of these projects may seem underwhelming at first, they would be game-changing in the long run.

He also highlighted that Tesla’s Supercharger Network is still growing, though the company will be more careful about where it places its charging stations. “Rumors of the death of the Supercharger Network are greatly exaggerated,” Musk said, reiterating that Tesla will be spending half a billion into the expansion of the Supercharger Network this year.

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“We will be deploying more Superchargers this year than the rest of the industry combined,” Musk said.

The CEO noted that Tesla is making good progress in its 4680 battery cell program. As per Musk, every Cybertruck on the road is equipped with 4680 cells. He did, however, also admit that the 4680 program has been very challenging.

16:35 CT – Elon Musk noted that Tesla Cybertruck production has reached a record of 1,300 per week, with a target to hit 2,500 per week by the end of 2024. He also noted that while the Cybertruck is divisive, it is a vehicle that resonates with people, even kids. Musk noted that if you would like to get an honest opinion about something, kids will definitely give it. And so far, kids love the Cybertruck. 16:50 CT –

The CEO also gave some praise to the reengineered Model 3, which is a “great, great car.” He reiterated the Model Y’s accomplishment of becoming the world’s best-selling car. Musk predicted that the Model Y will be 2024’s best-selling car by volume again.

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He also noted that last week, he approved the plans for the volume production of the Tesla Semi. Musk stated that the Tesla Semi will eventually just make sense for businesses because it saves operators so much money.

16:30 CT – Musk noted that he would be starting his presentation. He also joked that Tesla may need to place a word limit on TSLA shareholder proposals, to much applause from the audience.

He highlighted that Tesla’s impact is accelerating. He noted that Tesla’s factories are beautiful. “People are smiling at the factories. People are smiling and happy. It’s nice,” Musk noted. “We actually do care a lot about doing the right thing. We’re not perfect, but we care a lot about doing the right thing,” Musk said.

Musk also mentioned how Tesla’s batteries are lasting longer, and the company’s vehicles are getting more affordable. He noted that Tesla is still number one in EVs last year. He also personally thanked Tesla’s Fremont team.

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16:25 CT – The CEO discusses the potential of Optimus, which he noted will probably be something that everyone would like to have. “Who doesn’t want a C3PO?” Musk joked, referencing the iconic Star Wars character.

Musk noted that Tesla could make Optimus at scale for $10,000. At $20,000 a unit, Tesla could make a trillion dollars in profit per year. That’s an incredible valuation based on Optimus alone. “When I say we’re starting a new book, it’s gonna be the best book. It’s next level — next, next level,” Musk said.

16:20 CT – Musk discusses Tesla’s robotaxi model. He noted that some vehicles in the fleet will be owned by Tesla while others will be owned by customers. This should give Tesla owners completely control over when their vehicles will be used as part of the robotaxi network.

Musk admits that he tends to be overly optimistic. “If I’m not optimistic, this factory would not exist,” Musk joked. “I’ve been pathologically optimistic from birth. But this is the reason why every one of these is happening. But, I do deliver in the end. That’s what’s important,” Musk said.

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Musk also advised that Cathie Wood’s ARK Invest has the most accurate take on Tesla’s potential in the future.

16:15 CT – Elon Musk enters the stage to much applause from the attending Tesla shareholders. The CEO seems to be in high spirits, as he quite literally jumped for joy as he took the stage. Musk seems very pleased with the current results of the shareholders’ vote.

“I just want to say, ‘Hot damn, I love you guys!’ We have the most shareholder base of any public company. It’s incredible,” Musk said.

He also highlighted that Tesla is about to see some incredible changes. “We’re not just opening a new chapter for Tesla. We’re starting a new book.”

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16:12 CT – The meeting has now closed. Tesla CEO Elon Musk is taking the stage. He enters with a video highlighting how Tesla effectively made the impossible possible. This is quite unique.

Tesla is taking a victory lap — which the company, its executives, and its shareholders have completely earned.

16:10 CT – The Tesla 2024 Annual Stockholders Meeting voting has commenced. For context, here are the proposals that TSLA investors are voting on this year, as well as the results of the shareholders’ vote.

Following are the results of TSLA shareholders’ vote.

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TESLA PROPOSALS

  1. A Tesla proposal to elect two Class II directors to serve for a term of three years, or until their respective successors are duly elected and qualified (“Proposal One”). – Board Recommendation: “FOR” – Vote Results: “FOR”
  2. A Tesla proposal to approve executive compensation on a non-binding advisory basis (“Proposal Two”). – Board Recommendation: “FOR” – Vote Results: “FOR”
  3. A Tesla proposal to approve the redomestication of Tesla from Delaware to Texas by conversion (“Proposal Three”). – Board Recommendation: “FOR” – Vote Results: “FOR”
  4. A Tesla proposal to ratify the 100% performance-based stock option award to Elon Musk that was proposed to and approved by our stockholders in 2018 (“Proposal Four”). – Board Recommendation: “FOR” – Vote Results: “FOR”
  5. A Tesla proposal to ratify the appointment of PricewaterhouseCoopers LLP as Tesla’s independent registered public accounting firm for the fiscal year ending December 31, 2024 (“Proposal Five”). – Board Recommendation: “FOR” – Vote Results: “FOR”

STOCKHOLDER PROPOSALS

  1. A stockholder proposal regarding the reduction of director terms to one year, if properly presented (“Proposal Six”). – Board Recommendation: “AGAINST” – Vote Results: “FOR”
  2. A stockholder proposal regarding simple majority voting provisions in our governing documents, if properly presented (“Proposal Seven”). – Board Recommendation: “AGAINST” – Vote Results: “FOR”
  3. A stockholder proposal regarding annual reporting on anti-harassment and discrimination efforts, if properly presented (“Proposal Eight”). – Board Recommendation: “AGAINST” – Vote Results: “AGAINST”
  4. A stockholder proposal regarding the adoption of a freedom of association and collective bargaining policy, if properly presented (“Proposal Nine”). – Board Recommendation: “AGAINST” – Vote Results: “AGAINST”
  5. A stockholder proposal regarding reporting on effects and risks associated with electromagnetic radiation and wireless technologies, if properly presented (“Proposal Ten”). – Board Recommendation: “AGAINST” – Vote Results: “AGAINST”
  6. A stockholder proposal regarding adopting targets and reporting on metrics to assess the feasibility of integrating sustainability metrics into senior executive compensation plans, if properly presented (“Proposal Eleven”). – Board Recommendation: “AGAINST” – Vote Results: “AGAINST”
  7. A stockholder proposal regarding committing to a moratorium on sourcing minerals from deep sea mining, if properly presented (“Proposal Twelve”). – Board Recommendation: “AGAINST” – Vote Results: “AGAINST”

15:40 CT – Denholm welcomes Tesla shareholders to the company’s home in Texas. “No other company in the world has as diverse, engaged, and supportive shareholders as Tesla,” Denholm said.

She also mentions a number of highlights from Tesla’s past year, such as the Model Y becoming the world’s best-selling car, the first deliveries of the Cybertruck, and the rapid growth of Tesla Energy. She also mentions the launch of FSD (Supervised), as well as the company’s efforts on its next-generation projects.

The Board Chair further highlighted that Tesla is focused on operating as sustainably as possible. “We are working to build a battery recycling material ecosystem, both internally and with others,” Denholm said, adding that Tesla supported the recovery of enough battery materials to produce thousands of Model Y RWD units.

Denholm also emphasized that the Tesla Board is listening to shareholders and that the company’s leadership sets higher standards for itself. “You don’t see the day to day work of directors, but I can assure you, this is a highly-engaged Board,” she said.

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15:32 CT – Tesla’s livestream for the 2024 Cyber Roundup has gone live! Introductions are underway. Tesla Board Chair Robyn Denholm is giving the opening remarks, to much applause.

15:23 CT – Tesla Chair of the Board Robyn Denholm could be seen giving a hug to Tesla retail shareholder Alexandra Merz, who played a huge part in organizing a successful grassroots effort to encourage thousands of TSLA investors to vote on the ratification of Elon Musk’s 2018 CEO Performance Award and the proposed redomestication of Tesla from Delaware to Texas.

15:20 CT – Tesla’s displays at Giga Texas during these events are always great. Standouts of this year include the Tesla Model S Plaid that took on the Nürburgring and a Tesla Model Y with front and rear megacasts. Oh, and the banner that retail shareholders brought and signed is very interesting as well. 

15:15 CT – We are the heels of what could possibly be the most high-stakes Tesla shareholder meeting to date. In the weeks leading up to today, there were serious doubts that TSLA investors would not vote to ratify Elon Musk’s 2018 CEO Performance Award and Tesla’s proposed redomestication in Texas. These doubts seem to have completely disappeared. 

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Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

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Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

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Elon Musk

California snubs Tesla in its newly passed EV incentive that favors Rivian and Lucid

California passed a $135 million EV incentive that rewards Rivian and Lucid while sidelining Tesla

Published

7 hours ago

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July 6, 2026

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tesla fremont

California just drew a line in the EV incentive sand to put Tesla on the wrong side of it. The state recently passed a $135 million program offering first-time electric vehicle buyers a direct incentive with no application required, but the rules were written in a way that leaves Tesla at a structural disadvantage compared to Rivian and Lucid.

The program caps eligible vehicles at $50,000 for new EVs and $25,000 for used ones. That pricing threshold rules out a significant portion of Tesla’s lineup, though some lower-priced Model 3 and Model Y configurations would still qualify. California-based automakers are exempt from the price cap entirely, regardless of what their vehicles cost. Rivian, headquartered in Irvine, and Lucid, based in the San Francisco Bay Area, both benefit from that exemption. Rivian’s R2 starts at roughly $45,000 but has versions above the cap. Lucid’s Air and Gravity start at $70,990 and $79,990 respectively, well above any threshold a non-California company would face.

California hits Tesla Cybercab and Robotaxi driverless cars with new law

Tesla built its reputation and a significant portion of its early market share in California, where EV adoption has consistently led the nation. The company operates its original factory in Fremont, California, and the state was home to Tesla’s headquarters for most of its existence. That changed in 2021 when Tesla moved its corporate headquarters to Austin, Texas. Since then, the relationship between the company and California Governor Gavin Newsom has been openly adversarial, with Musk and Newsom trading public criticism on multiple occasions.

California’s EV incentive landscape has shifted repeatedly in recent years, and Tesla has previously lost eligibility for state-level programs as its vehicles exceeded income-adjusted price thresholds. The federal $7,500 EV tax credit, which Tesla models have qualified for and lost depending on policy cycles, is no longer available after it expired without renewal, making state-level programs more meaningful to buyers than they have been in years.

The practical impact for buyers is more nuanced than the headline suggests. California residents purchasing a Tesla under $50,000 for the first time can still access the incentive. But the exemption written for California-based manufacturers is a structural advantage that rewards where a company plants its headquarters flag rather than where it builds its products, and Tesla moved that flag to Texas.

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Elon Musk

SpaceX’s newest logo confirms everything about what it’s become

SpaceX officially absorbed xAI under the SpaceXAI brand, completing the largest private merger in history.

Published

16 hours ago

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July 6, 2026

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SpaceX-Ax-4-mission-iss-launch-date

SpaceX made its corporate transformation official in May 2026 when Elon Musk posted on X that xAI would cease to exist as a standalone company. “xAI will be dissolved as a separate company, so it will just be SpaceXAI, the AI products from SpaceX,” he wrote.

A new SpaceXAI logo was announced today, visually embedding the xAI letters inside the SpaceX identity, which can be seen as a deliberate design choice that signals the merger is not a partnership but a full absorption and XAi a core function of the same company. The same way Starlink is not a separate brand but a SpaceX product. The announcement closed the loop on a process that began February 2, 2026, when SpaceX acquired xAI in the largest private merger in history, valued at $1.25 trillion. SpaceX at $1 trillion and xAI at $250 billion.


The reason SpaceX bought xAI was stated plainly by Musk at the time of the deal: to build orbital data centers. SpaceX had simultaneously filed with the FCC to launch up to one million satellites designed to function as AI compute nodes in low Earth orbit, escaping what Musk described as the energy constraints limiting AI development on Earth.

xAI provided the AI software stack, with Grok, the X platform, and the Colossus supercomputer infrastructure in Memphis with over 220,000 NVIDIA GPUs, while SpaceX provided the rockets, Starlink, and the capital base to fund it. The two companies needed each other. xAI was burning $2.5 billion in losses on $250 million in revenue. SpaceX was generating an estimated $8 billion in profit on $15 billion in revenue and needed an AI narrative to command the valuation it was targeting for its IPO.

SpaceXAI just launched into your kitchen with their new app

What SpaceX has done, regardless of how the orbital AI vision ultimately plays out, is walk into a public market as something no company has been before: a rocket manufacturer, satellite internet provider, AI software company, social media platform, and supercomputer operator under one ticker. Whether that combination is worth $2 trillion depends entirely on which of those businesses you believe in most.

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Investor's Corner

Tesla challenges startups to score a gig inside its most advanced European factory

Tesla is challenging startups to bring their best battery tech directly to Gigafactory Berlin.

Published

20 hours ago

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July 6, 2026

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Tesla has issued an open challenge to startups across Europe, inviting them to bring their best battery technology directly to the floor of Gigafactory Berlin. The program, called the JUNI x Tesla Battery Cell Giga Challenge, opened applications this month with a deadline of July 24, 2026, and is targeting startups with solutions that can make battery cell manufacturing faster, cheaper, safer, and more scalable at an industrial level.

The timing of the challenge is directly tied to Tesla’s most aggressive European battery investment yet. On May 12, 2026, Giga Berlin plant manager André Thierig announced a $250 million investment to scale the factory’s annual 4680 cell production capacity from 8 GWh to 18 GWh, more than doubling the previous target set just months earlier in December 2025. Thierig confirmed the expansion on X, saying the investment “will enable 18 GWh of annual 4680 cell production and create more than 1,500 new jobs.” Combined with a previously announced battery investment at the Grunheide site now approaches $1.2 billion.


The challenge is looking specifically for startups with proven solutions across five categories: materials, equipment, operations, automation, and artificial intelligence. Applications are screened directly by Tesla’s cell manufacturing team in Grunheide, and the strongest submissions move through technical discussions, a pitch day in front of Tesla stakeholders, and potentially a paid pilot project with the cell team. Tesla is not looking for ideas at concept stage. The program requires applicants to demonstrate working prototypes, test data, or prior pilots before being considered.

The historical context matters here. Elon Musk first announced plans for what he called the world’s largest battery cell production facility alongside the Giga Berlin car factory back in 2020, targeting up to 250 GWh of annual capacity. Those plans were shelved in 2022 when Tesla shifted its battery investment focus to the United States to take advantage of Inflation Reduction Act incentives. The revival of cell production at Giga Berlin, now backed by over $1 billion in committed capital, represents a return to an ambition that was set aside for three years. As Teslarati has reported, the 4680 format is central to Tesla’s long-term cost reduction strategy across vehicles, energy storage, including the Tesla Semi and Cybercab.

By opening the challenge to outside startups, Tesla is acknowledging that reaching 18 GWh at Grunheide will require technology it does not currently have in-house, and it is willing to pay for the right solutions. For a startup in the battery supply chain, a paid pilot with Tesla’s European cell team is as close to a direct commercial path as the industry offers.

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