Tesla(US:TSLA) Sou Hu Cai Jing·2025-11-05 10:45Core Viewpoint - A significant gamble regarding Elon Musk's future is unfolding, centered around a $1 trillion compensation plan that reflects his career-long bets on ambitious predictions [1][2]. Group 1: Compensation Plan Details - Tesla's board announced a ten-year incentive plan for Musk, potentially worth up to $1 trillion, which is unprecedented in scale [2]. - The plan requires Musk to achieve 12 performance targets, including increasing Tesla's market value to $8.5 trillion, selling 12 million electric vehicles, producing 1 million AI robots, operating 1 million autonomous taxis, and boosting adjusted earnings to $400 billion [4]. Group 2: Shareholder Reactions - The shareholder vote on the plan is scheduled for November 6, with ISS and Glass Lewis urging investors to oppose it due to its excessive scale and lack of effective constraints [5]. - Musk has publicly criticized these recommendations, expressing disbelief that he could be ousted from Tesla due to their suggestions [5]. - Analysts are divided; some view the plan as overly ambitious, while others believe Musk's past performance justifies the potential rewards [5]. Group 3: Financial Performance - Tesla's Q3 revenue reached $28.1 billion, a 12% year-over-year increase, with global deliveries of 497,000 vehicles, up 7.4% [6]. - However, net profit for Q3 was $1.37 billion, down 37% from $2.17 billion in the same period last year, attributed to rising sales and operational costs, ongoing R&D investments, and changes in sales structure [6]. Group 4: Market Challenges - Tesla faced significant challenges in the European market, with new car registrations declining sharply due to aging models, competition from Chinese rivals, and consumer backlash against Musk's political views [7][8]. Group 5: Future Growth Strategies - Musk envisions a grand future for Tesla, focusing on autonomous driving and Robotaxi services, with plans to start production of the Cybercab in Q2 2026 [9]. - The humanoid robot Optimus is expected to become a key product, potentially accounting for 80% of Tesla's value in the future, with production lines set to begin by the end of 2026 [10]. - Tesla's energy storage business is also highlighted as a growth area, with Musk suggesting that battery storage could significantly enhance energy efficiency without new power plants [11][12].