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Tesla’s million mile battery: Veteran auto’s ‘fake it till you make it’ strategy is perfectly fine
It is no secret that Tesla is actively pursuing a million-mile battery. With such an innovation, Tesla hopes to make its electric cars outlast gasoline-powered vehicles several times over, while ensuring that its energy storage devices are capable of lasting literal decades while being actively deployed. But if recent news is any indication, it appears that Tesla is not the only company that is closing in on a million-mile battery.
During a recent online investor conference, GM Executive Vice President Doug Parks stated that the veteran American automaker is also working on a million mile battery solution. Beyond this, Parks suggested that GM is “almost there” in developing a battery that’s far above the Ultium batteries that were announced last March. Unfortunately, the GM executive did not specify a solid timeline for the introduction of its own million mile battery, only stating that multiple teams were working on it.
GM’s rather sudden announcement of its million-mile battery echoes the company’s overall strategy with its electric vehicle program. Back in March, the automaker unveiled a sweeping electric vehicle strategy that will involve $20 billion in investments and about 20 EVs for practically every market. But despite the grandiose plans and announcements, the veteran automaker did not really disclose a lot of concrete details about its EV push, such as pricing, specifications, and timing.
GM’s approach to electric vehicles almost seems like a “fake it till you make it” strategy. Back in March, there was a lot of talk about Tesla’s upcoming Battery and Powertrain Day, which was speculated to involve discussions and announcements about the company’s next-generation of electric vehicles and energy solutions. GM’s “EV Day” seemed to be a response to this. In the same light, the previous weeks have involved updates about the impending release of Tesla’s million mile battery, an innovation that is apparently “almost there” in GM.
While this may at times feel like veteran automakers like GM are simply following Tesla’s EV playbook, it must be noted that every step made by legacy carmakers towards electric vehicles is a step towards the wider adoption of sustainable transport. Thus, despite the fact that GM’s EV strategies today are more smoke and mirrors and concept vehicles, the American automaker’s focus on electric cars is still admirable. This is a pretty big point for GM, considering that it is the very company that practically stopped the first coming of the modern electric car with its controversial cancellation of the EV1.
Besides, it is difficult to deny that legacy automakers such as GM are making an effort towards electrification now. Despite the fact that leaked production plans accessed by Reuters indicated that GM and Ford only intend to produce 320,000 EVs in 2026 for the North American market, the company is still investing heavily in EVs. For its Ultium batteries, for example, GM has stated that it is working with Korean firm LG Chem to find ways to reduce costs and improve overall performance. Adam Kwiatkowski, executive chief engineer of GM’s electric propulsion systems, noted that the automaker and LG Chem are also looking at investments in mines, hedging metals prices, and potential partnerships with metal refiners.
The next few years will definitely be one for the record books, as Tesla enters its next phase with its million mile battery and Plaid powertrain, and legacy automakers such as GM take a serious stance on electric vehicles. It’s easy to forget, after all, that less than a decade ago, the pervading narrative in the auto industry was that electric cars are still intended to be stuck as niche products, glorified golf cars for the wealthy and not much more.
The landscape today is very different, and there’s no bigger symbol of this change than GM’s own Hummer EV, a vehicle that’s the spiritual successor of the gas-guzzling monster SUV that pretty much killed the EV1. Other vehicles like the Tesla Cybertruck, which is expected to break the stereotypes of EVs as vehicles that cannot be used for real work and utility, further shows the steady trend forward for electric cars.
Tesla is a leader in the electric vehicle movement. That much is sure. But the company itself has noted that it cannot transition the world towards sustainability on its own. For true sustainability to happen, other companies, legacy carmakers like GM included, have to go all-in on the EV movement as well. One can only hope that this time, announcements such as GM’s million mile battery initiative are more on the “make it” side than on the “fake it” side.
H/T @ajtourville.
Tesla Full Self-Driving (Supervised) showed a record attach rate at delivery for new vehicles in the third quarter of 2026.
75 percent of new vehicle deliveries in North America included a subscription to FSD software, up from 55 percent in the prior quarter, a 20-percentage-point sequential gain in the company’s most mature market.
Tesla Q3 2026 Earnings results: in-line revenues, slight beat on EPS
Tesla shed light on the Q3 Shareholder Deck that 75 percent of new deliveries came with an FSD subscription:
“FSD (Supervised)⁴ attach rate continued to grow, reaching over 75% of new vehicle deliveries in North America – our most mature market – a nearly twenty percentage point sequential increase. We believe that FSD is driving demand in markets where it is available, and we continue to work with regulators to get it approved in other markets. “
The higher attach rate accompanied strong growth in the overall FSD consumer base, as active subscriptions rose to 1.75 million, a 67 percent year-over-year increase. For the first time, more than half of paid customers are on the monthly subscription, which is priced at $99 per month in the U.S.
People are buying FSD with a car attached, not the other way around
— Elon Musk (@elonmusk) October 21, 2026
The transition to subscriptions has accelerated since Tesla discontinued the one-time purchase option in most markets earlier this year. The recurring model improves revenue visibility and margins compared with large upfront payments. With three-quarters of North American deliveries now including FSD, the software is now an evidently large contributor to Tesla’s economics and ancillary revenue.
Geographic expansion remains important for further gains. FSD is now available in nine countries in the EU, and more than 100,000 customers have driven over 160 million kilometers. Tesla is pursuing broader EU-wide approval, with a related vote expected in December. Similar progress in additional markets could support higher attach rates beyond North America.
These results came as Tesla had a strong quarterly delivery performance of 486,532 vehicles in the quarter, which came with its largest passenger-vehicle backlog in four years. Battery supply continued to limit volume, but the company has pointed to FSD as a clear difference-maker that is helping sustain demand. As supervised capabilities improve, the attach rate will likely continue to improve.
At face value, it is a key measure of how Tesla is converting sales into autonomy progress.
Update: 10/22 10:51a – Para 1 consumers changed to “customers” for accuracy.
Tesla Cybercab units finally got a definitive date for when they will be able to be purchased by customers, ending speculation regarding whether the fully autonomous vehicle would be available in the near term.
During Tesla’s third-quarter 2026 earnings call on October 21, Vice President of Engineering Lars Moravy said the company is aiming to begin delivering its purpose-built Cybercab robotaxi to customers before year-end.
🚨 In short, Cybercabs are slated to go to customers by end of the year. All units are going into Robotaxi fleet currently, per @larsmoravy
Cybercab will be “transport-as-a-service,” but vast majority of Cybercab will be “Tesla-owned,” @elonmusk says https://t.co/R8Qu8QWdmp
— TESLARATI (@Teslarati) October 21, 2026
“We’re trying to get Cybercabs to customers by the end of this year, 2026,” Moravy said. He added that production is underway on the line at Gigafactory Texas, but “all of those are currently going to our own internal Robotaxi fleet.”
Moravy explained that as operations scale, Tesla will “mainly deliver fully designed autonomous vehicles to our customers,” with the Cybercab as the first such vehicle. Initial customer deliveries will start small while the company gains experience with delivery logistics, ownership models, fleet management, and operating autonomous vehicles outside its direct control.
CEO Elon Musk reinforced the limited nature of private sales, describing the Cybercab primarily as a “transport-as-a-service” offering rather than a personal ownership vehicle like the Model 3, Model Y, or upcoming Roadster. “The vast majority of the Cybercab stuff will be Tesla-owned and transport-as-a-service,” Musk said.
The Cybercab is a two-seater vehicle developed by Tesla without a steering wheel or pedals. It relies completely on Tesla’s Full Self-Driving suite and has been in production since February. Early units have been put in Tesla’s Robotaxi service as of early September, when the company launched rides to the public. Tesla previously indicated it would aim to sell Cybercabs for about $30,000.
Unsupervised Full Self-Driving is expected to ship to consumer cars during Q2 2027, Ashok Elluswamy, Tesla’s Head of AI, indicated during the call. Early buyers or fleet operators may receive vehicles whose autonomous operation remains geographically restricted due to lagging regulatory agencies. There are some hurdles that remain ahead of Cybercab deliveries.
Tesla (NASDAQ: TSLA) reported its earnings for the third quarter of 2026, marking a reasonable performance on the various financial metrics. Tesla still plans to hold a call that will field investor questions at 5:30 p.m. ET, 4:30 p.m. CT.
Here’s where Earnings came in:
- Total Revenues: $28.046 reported vs. $28.34B expected
- Non-GAAP EPS: $0.48 reported vs. $0.45 expected
- Operating Margin: 2.6 % reported vs. 2.5% expected
- Operating Income: $718M reported vs. $721M expected
- Free Cash Flow: $1.531B reported vs. ~-$4.51B expected
Tesla $TSLA Earnings Results:
Revenues: $28.046B
Non-GAAP EPS: $0.48
Operating Margin: 2.6%
Operating Income: $718M
FCF: $1.531B— TESLARATI (@Teslarati) October 21, 2026
Major Takeaways
Full Self-Driving (Supervised)
“FSD (Supervised)⁴ attach rate continued to grow, reaching over 75% of new vehicle deliveries in North America – our most mature market – a nearly twenty percentage point sequential increase. We believe that FSD is driving demand in markets where it is available, and we continue to work with regulators to get it approved in other markets.”
Tesla Semi
“We began volume production of Tesla Semi, our Class 8 heavy-duty truck. The top variant can go 500 miles at full 82,000 lbs gross combination weight while achieving an efficiency of 1.7 kWh/mile. That efficiency allows the Tesla Semi to use a third of the energy used by a comparable diesel truck to haul the same payload. In a transportation market where energy is one of the largest components of total cost per mile, this will provide a meaningful advantage to Tesla Semi operators.”
SI Compute
“We plan to reach 400 MW of SI training compute by the end of the year, supporting the development of both vehicle and humanoid robot autonomy software. Additionally, we continued construction for the Austin Fab, where we plan to start commissioning equipment in 2027.”
Robotaxi
“We began deployment of Cybercab into our Robotaxi fleet in Austin. We reached nearly two million cumulative unsupervised miles for our Robotaxi service as of the end of the quarter. Operating hours in Austin are now 6am to midnight, and we expect to reduce wait times via increased fleet supply and improvement of Robotaxi orchestration algorithms. Grok is available in Cybercab with access to Grok Bot and Connectors, which allows users to manage their inbox, calendars, files, chats and tasks – all hands free via voice command – making Cybercab a mode of transport, a productivity space and, with our entertainment options, a second living room.”
Interested in ordering a Tesla? Use my referral code for three free months of Full Self-Driving (Supervised) here.
Tesla buyers are buying for Full Self-Driving and not for the car, data shows
Tesla Cybercab gets a for sale date at last
