[Music] We're back on Morning Trade Live. Let's focus on Tesla. Shares are lower this morning after shareholders approved a new pay package that could reach $1 trillion if Musk and Tesla get certain incentives and stretch goals.Shares have been volatile over the last 12 months, hitting an all-time high last December before dropping 50% over the next four months to April's low. Since that point, the stock is up more than 100% and is uh now moving closer to the all-time high level. So quite a roller coaster r ...

Brandon Earhart : 请大家就座。谢谢。欢迎回到特斯拉的故乡——德克萨斯州。我叫 Brandon Earhart ，我是总法律顾问兼公司秘书。欢迎参加2025年 度股东大会。与去年类似，本次会议将分为两个部分。我们将首先处理14项投票议程，第二部分是 伊隆·马斯克 的讲话。今天我们将讨论业务前景，并可 能做出其他前瞻性陈述。此类陈述或预测基于当前的预期。由于我们向美国证券交易委员会提交的文件中披露的许多风险和不确定性，实际事件或结果可 能存在重大差异。此类前瞻性陈述仅代表我们截至今天的观点，此后不应被依赖。我们没有义务在今天之后更新这些陈述。我想向在场的特斯拉团队成 员、普华永道会计师事务所成员以及我们的董事会成员表示欢迎。在开始之前，我们先听听董事会主席 Robin 的讲话。 伊隆·马斯克 概述了公司的新使命——实现"可持续的富足"。他重点介绍了Optimus机器人，认为它将是史上最伟大的产品，未来规模可达数十亿台，并能 消除贫困和提供卓越医疗。他还宣布了无踏板/方向盘的CyberCab计划于明年4月开始生产，其制造系统类似于高容量消费电子产品。马斯克强调了FSD的 进步，预计14.3版本将实 ...

Core Viewpoint - Tesla CEO Elon Musk announced that the production of the Cybercab, a robot taxi, will begin in the second quarter of next year, with the final version lacking a steering wheel and pedals [1][6][14] Group 1: Cybercab Development - The Cybercab is expected to have a production capacity of several million units annually [7] - The vehicle is projected to be priced around $30,000 (approximately 210,000 RMB) and may enter mass production by 2026 [9] - Tesla's official images suggest that the Cybercab has undergone design changes, including the addition of side indicators and a more conservative headlight design compared to the concept version [10][14] Group 2: Robotaxi and Regulatory Challenges - Musk stated that Tesla's Robotaxi service will not require a safety monitor by the end of the year, indicating progress in autonomous driving technology [15] - However, there are reports of regulatory hurdles, with Tesla facing delays in obtaining necessary approvals for autonomous taxi services in states like Arizona and Nevada [17] - The initial ambitious goal of covering half of the U.S. population by the end of 2025 has been scaled back to launching services in 8 to 10 major metropolitan areas within the next two months [17] Group 3: Upcoming Product Launches - Tesla plans to showcase the new Roadster by the end of the year, which has faced multiple delays since its initial announcement [19] - Musk emphasized that the upcoming Roadster will feature groundbreaking technology, potentially making it one of the most memorable product launches [20][22] Group 4: AI Chip Development - The AI5 chip, designed for Tesla's Full Self-Driving (FSD) capabilities, has completed its design review, with expected performance significantly surpassing the current HW4 chip [22] - Musk also mentioned ongoing development for AI6, AI7, and AI8 chips, indicating a strong focus on advancing Tesla's AI capabilities [22]

Tesla's Technological Advancements - Tesla Cybercab is confirmed to remove steering wheels and pedals, aiming for ultimate convenience in autonomous driving [1] - Robotaxi is planned for large-scale deployment in Austin and the Bay Area by the end of the year [1] - Tesla's vehicle fleet will form a decentralized AI computing network of "100 Gigawatts" [1] - Roadster 2 is anticipated to be the most memorable product launch ever [1] Market Strategies and Products - Tesla is launching "nanny-style" Tesla Ride in the US to promote FSD (Full Self-Driving) [1] - China's Model Y has unlocked V2L (Vehicle-to-Load) external discharge function, addressing market pain points [1] - JOWUA offers a 5% discount with the code BIGFISH95 on various accessories [1] AI and Future Predictions - Elon Musk predicts the "death of mobile phones," envisioning direct communication between AI and the brain [1] - Musk warns that AI is the most threatening thing to us, like "summoning a demon" [1]