周报

Investment Rating - The report does not explicitly state an investment rating for Tesla (TSLA) [2]. Core Insights - Elon Musk outlined the upcoming Full Self-Driving (FSD) software update V12.4, which is expected to be released within the week. The update aims to enhance comfort by addressing issues with acceleration and braking [1]. - Morgan Stanley analyst Adam Jonas expressed optimism about the FSD system after experiencing version V12.3.6, noting significant improvements and anticipating further enhancements in V12.4. The Tesla fleet is projected to reach an annual mileage of 100 billion miles by the end of 2025 [1]. - Tesla has seemingly appointed Bonne Eggleston as the new head of the 4680 battery project, with a focus on reducing costs for in-house battery production compared to sourcing from suppliers [3]. - The construction of Tesla's Super Energy Factory in Shanghai has been officially approved, with production expected to begin in Q1 2025 [4]. - Tesla is seeking approval to test its Robotaxi service in China, with officials expressing a willingness to allow testing of advanced technologies [5]. - In April 2024, Tesla's wholesale vehicle sales in China were 62,167 units, reflecting a month-over-month decline of approximately 30% and a year-over-year decline of about 20% [6]. Summary by Sections Company Overview - Tesla's current stock price is $168.47, with a market capitalization of $537.85 billion and a total share count of 3.189 billion [2]. Recent Developments - The anticipated FSD update V12.4 is expected to improve the driving experience significantly [1]. - The new head of the 4680 battery project is focused on achieving cost reductions for Tesla's in-house battery production [3]. - The Shanghai Super Energy Factory is set to begin construction in May 2024, with production slated for early 2025 [4]. Sales Performance - In April 2024, Tesla's wholesale sales in China were down 30% month-over-month and 20% year-over-year, while domestic sales also saw a decline [6].