$Tesla (TSLA.US)$The 2024 shareholders meeting will be held on Thursday, US Eastern Time, in Austin, Texas, USA. The shareholders meeting attracted more than one million viewers to watch in real time. After voting, Tesla shareholders approved CEO Musk's $56 billion compensation plan and supported Tesla's move from Delaware to Texas. Musk also explained Tesla's vision, stating that the Cybertruck's production volume has exceeded 1,300 vehicles per week and that the production of Semi semi-trucks will be accelerated. In the future, there are three new products to be released.

Compensation plan and relocation approved.

The compensation plan was revoked by a Delaware court five months ago, stating that the plan was improperly awarded by the Murdoch board because the court found that the Tesla board lacked independence. Although shareholders voted in favor of the compensation plan, the vote will not overturn the court's ruling. Even the day before the shareholder meeting, Musk expressed on X that the compensation plan would be approved. Despite opposition from major investors Glass Lewis and institutional shareholder services company (ISS), the vote passed with a high approval rate, marking a major victory for Musk and the board of directors.

However, the Tesla CEO may still face a long legal battle and may face new lawsuits. Analysis believes that the approval of the salary by shareholders is not only a recognition of Musk's tenure, but also means that investors are unwilling to let the company bear risks. In January of this year, Musk threatened to transfer the development of AI and robot products from Tesla if he failed to gain enough voting control. This was basically to extort approval for the 2018 compensation plan.

A series of resolutions were also passed at the shareholders' meeting, including Bosek's proposal to move Tesla's registration from Delaware to Texas, where the largest factory in the United States is located. Another controversial resolution is the re-election of two board members: Kimbal Musk, brother of Musk, and James Murdoch, son of media mogul Rupert Murdoch.

Musk: Future car owners can rely on autonomous driving to make money.

After the voting results were announced, Musk took the stage to speak. He first thanked the shareholders, "Wow, love you guys," and then emphasized, "I am a person who can deliver results. (I do deliver!) In the end, this is the most important thing." He also said that the compensation plan does not allow him to quit halfway, "This is not what I want to do."

Then, Musk expressed his vision for Tesla's future. Musk said that the future of Tesla is exciting. "We are not just opening a new chapter of Tesla, we are writing a new book."

He said he hopes that in the future, Tesla can allow car owners to add their vehicles to the autonomous driving fleet through an application when they are not using them and earn money automatically. "You can add or remove vehicles from the fleet at any time. For example, if you go out for a week, just tap on your Tesla application, and your car will be added... making money for you while you are away."

Cybertruck deliveries are at a rate of 1,300 per week and there are three new products to be released.

For existing products, Musk said that Tesla's automobile inventory will exceed 7 million units by the end of this year. He said that the latest autopilot hardware products will be released within about 18 months.

At the same time, the Cybertruck's weekly deliveries reached a record-breaking 1,300. "The Cybertruck is truly unique. If you really want to know if something is cool... show it to kids," Musk said. This may not be the best way to design a car. Musk also added that its electrical architecture has innovative technology. This is very important for the design of future electric vehicles-- better technology should result in better vehicle performance and lower costs. In addition, Tesla needs to produce different versions of the Cybertruck for China and the EU.

He also said that former US President Trump is a fan of the Cybertruck, "He would suddenly call me." Musk told him that the United States is a leader in electric vehicles and added that many of Trump's friends drive Tesla. "He's a superfan of the Cybertruck," Musk said.

Musk said Tesla is accelerating production of electric semi-trucks Semi. He said, "The economic benefits of electric semi-trucks are far superior to diesel trucks. This is basically a no-brainer." Musk told shareholders that transportation companies operating diesel trucks will lose money compared to Tesla's electric semi-trucks.

Regarding new products, Musk presented a slide containing three hidden vehicles. Musk introduced one that may be a low-priced Tesla launched in 2025, another may be a robot taxi called Robotaxi, and another may be a commercial vehicle or a small truck. "When will the veil be lifted on these products? Just wait and see."

Elon Musk said that Tesla must make it affordable for ordinary people to buy their cars. "Whether or not they want a Tesla is not really the question for most people. They certainly do want a Tesla. They just don't have enough money to buy one. So we need to make it affordable."

Siasun Robot&Automation will significantly increase Tesla's profits, and Tesla AI is in a leading position.

Regarding the Tesla robot Optimus, Musk believes that Optimus will bring huge profits to the company. He said that Optimus' valuation may have been overlooked because Tesla has the ability to produce about 100 million Optimus robots a year. Musk said that Optimus' price will be lower than the price of a car, and if Tesla has a 10% market share and each robot is sold for $20,000, Tesla could earn $1 trillion in profits annually when mass producing.

Two Optimus robots are already in use at the Fremont factory, and starting next year, Tesla will have over 1,000 or several thousand Optimus robots working at their factories. Based on these indicators, Musk said that Tesla could become a company worth ten times more than the current most valuable companies. Currently, Apple and Microsoft have a market cap of about $3.3 trillion, which means Musk hinted that Tesla's future value could exceed $33 trillion.

He said that in the future "almost everyone" will have robots that can do household chores such as taking care of children and working in factories. "I think the ratio of robots to people will probably be at least two to one...one to one is certain," he said.

In terms of AI, Musk said that in the real world, Tesla's AI is ahead of Meta, Google, and OpenAI. As for AI chips, Musk explicitly refuses to use chips from other companies. He also mentioned Apple and Nvidia, saying that "no other company's (AI) chip is more suitable for our cars than the chips inside our cars."

Tesla's stock price rose 2.9% in regular trade on Thursday, closing at $182.47. The after-hours price didn't change much. Tesla's stock price is still down 27% this year.

Editor/Somer