Grant Hurn

Peace in our time

Q1 2026 Shareholder Update #quarterly-disclosure" target="_blank" rel="nofollow noopener">ir.tesla.com/#quarterly-dis… We continued to make meaningful progress on the build out of the infrastructure & AI software that underpins our Robotaxi & future robotics businesses in Q1. That meant commencing the ramp of new factories across AI compute, battery & battery materials, as well as preparing lines for start of production of Megapack 3, Cybercab & Tesla Semi. Demand for our vehicles continued to grow in APAC & South America markets, with a rebound of demand in EMEA markets & North America. As trade and geopolitics become more uncertain, we're further regionalizing and vertically integrating critical supply chains to ensure access to key materials & componentry in each region across vehicle, energy & AI. Automotive – Optimizing our vehicle product portfolio with an emphasis on vehicles designed for a fully autonomous future – More affordable trims of Model 3/Y & rollout of Model Y L in markets outside of China – Began deliveries of Cybertruck in the UAE – Volume production of Cybercab & Tesla Semi this year Energy Generation & Storage – Good progress with new Megafactory outside Houston (will produce Megapack 3 for Megablock). Start of production on track for later this year – We began meaningful customer deployments of Tesla’s first in-house designed solar panel produced at Giga New York Robotics – Preparations for our first large-scale Optimus factory will begin shortly in Q2. First-gen line designed for 1M robots/year will replace Model S/X lines in Fremont Factory, second-gen line is being prepared at Giga Texas (long-term annual capacity of 10M robots/year) AI Training Compute – Cortex 2 is now online & has started running training workloads – Also ramping on-site training infrastructure to ensure sufficient compute resources for AI products & services – Continuing with custom silicon development (Dojo 3) to reduce training cost over time Battery – Ramping new battery & material factories, including LFP cells in Nevada, cathode material & lithium refining in Texas – Battery vendor cell availability continues to be a limiting factor on ramping vehicle production, so we're working on initiatives to de-bottleneck, including using 4680 cells at Giga Berlin Other Supporting Infrastructure – Giga New York is now producing V4 Supercharging cabinets (3x power density & 2x the number of stalls vs V3) – Alongside the ramp of Tesla Semi, we're deploying public Megachargers, including our first one in SoCal – Over 2,200 new Supercharger stalls, growing the network 19% YoY AI Software – FSD 14.3 launched in April – Upgraded Reinforcement Learning (RL) stage to better handle long-tail edge cases, enhanced the neural network vision encoder for sharper perception in low-vis scenarios & rewrote the AI compiler to accelerate model iterations & cut inference latency by 20% (faster reaction time for FSD!) This accelerates our efforts to eventually deploy unsupervised autonomy to both the Robotaxi fleet & customer owned vehicles – Digital Optimus: our next evolution of AI development. We're working on automating digital workloads, building an intelligence layer that will complement real-world AI in vehicles & robots AI Inference Compute – Expanding our scope of manufacturing to include semiconductor fabrication (coinciding with Robotaxi & Optimus ramps) = step towards ensuring sufficient & resilient chip supply – Partnership with SpaceX aims to build the largest chip fab ever, vertically integrating logic, memory & advanced packaging to allow for rapid iteration – Completed final chip design of AI5 (our next-gen inference processor) in April Automotive & Other Software – Rolled out Spring Update which includes a new Self-Driving app with tutorials & stats, "Hey Grok" wake word w/ location-based reminders, accent lights for blind spot alerts, updated Pet Mode & more Robotaxi – Paid Robotaxi miles doubled sequentially in Q1 – Cybercab will begin replacing Model Y fleet once in production & be the largest volume vehicle in the fleet over time – Continuing to lay the groundwork for expanding into new cities (testing, permitting), so we can launch quickly once ready. Safety remains top priority – Expanded unsupervised ops in Austin & launched in Dallas & Houston in April FSD Supervised – Record net new FSD subscriptions in Q1 – Received approval to deploy FSD Supervised in the Netherlands in April, clearing the path for potential approval in other EU countries – Continuing to make progress on approval in China Automotive Services – Safety Score v3.0 enables every mile driven with FSD Supervised engaged to receive a score of 100. Higher Safety Score over time = lower premiums for Tesla Insurance customers

Tesla has released an Optimus Earth Day Tee for $40. The company will donate $10 for every shirt sold. "Champion a brighter tomorrow with the Tesla Optimus Earth Day Tee, a bold nod to our vision of Amazing Abundance. For every tee sold, Tesla donates $10 to Partners for Education Agriculture and Sustainability (PEAS), supporting vital programs in environmental education and sustainable farming." Shop: shop.tesla.com/product/tesla-…

Apple has officially announced that John Ternus will be the next CEO of the company. “Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition” Tim Cook is assuming the role of executive chairman on September 1, 2026.

Tim Cook: “It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company. I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world,” said Cook. “John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor. He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman.” Apple announced that Tim Cook will become executive chairman of Apple’s board of directors and John Ternus, senior VP of Hardware Engineering, will become Apple’s next CEO effective on September 1, 2026.

@SawyerMerritt @Tesla This is before supervised FSD is approved in China. Limiting factor is production output in Shanghai.

@nypost It will happen

Unsupervised customer rides

Just got this email. @Tesla’s Optimus robot is coming to Boston. “Join us from April 19 to 20, 2026, at Tesla Boston Boylston Street showroom to meet Optimus, our humanoid robot, for Marathon Monday. Optimus will be cheering with you on the sidelines and posing for photos.”

The fact the Tesla is launching Unsupervised Robotaxi right off the bat in Houston and Dallas makes me more bullish for the speed of the Cybercab rollout. I was expecting the Robotaxi rides in new cities to initially only be offered with safety monitors. Exciting times!

@glennbeck @rebeccaperrotto No Yes Yes Your Name Yes, a several times. Kyoto. teamLab. Yes Yes Ok 😀

All by myself

Try Tesla Robotaxi in Dallas & Houston!

Tesla has just officially launched Unsupervised Robotaxi rides in Dallas & Houston! The expansion has officially begun! Let’s gooooo

Robotaxi now rolling out in Dallas & Houston 🤠

@SERobinsonJr TSMC just can’t make the staggeringly large number of chips needed! If they could, we would not need to do this.

Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI. AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will not be inflation.

More Tesla Diners coming

@teslaownersSV @TaiwanSemi_TSC @Samsung Optimus and our supercomputer clusters. AI4 is enough to achieve much better than human safety for FSD.

Tesla Insurance update With the latest version of Safety Score (v3.0), every mile you drive with FSD Supervised enabled will receive a score of 100. This allows you to maintain a higher average safety score over time, resulting in lower monthly insurance premiums. Applies to new policies in Indiana, Tennessee, Texas, Arizona, Virginia & Illinois

1st place in $100k Chess Tournament 🥇 Giving away $20,000 to 10 people who like & RT ❤️