Tesla Has Nothin’ New for ’22, Confirms CEO Elon Musk
No new models are being introduced this year and probably not even in 2023.
If you were hoping for imminent news on the anticipated Tesla Roadster sports car, wild Cybertruck pickup, or the truly affordable “$25,000 car,” you should probably give up for now. For 2022, and potentially 2023—meaning until 2024—there will be no new vehicles coming from Tesla. And the rumored cheap Tesla is dead. The electric carmaker’s primary focus will be on current product output as it thinks the supply chain and semiconductor shortages hammering the industry overall will be ongoing throughout 2022.
Really, *Nothing* New?
This surprising news landed during a Tesla investor call outlining the company’s (strong) financial performance in Q4 of 2021. CEO Elon Musk and Tesla laid out that it was a “breakthrough year” for the company, despite supply chain and semiconductor issues, with strong sales growth and new factories on the cusp of churning out salable cars.
Thing is, the four models Tesla current sells are mostly aging. The Model Y is its newest product, and it was launched in 2019. The oldest, the Model S, has been around since 2012. Tesla’s focus will be trained on producing those current products, however, and Musk stated there would be no new vehicles (or, we presume, major redesigns or new generations of current ones) for 2022 and potentially into 2024. The company at least in part blames those pesky supply issues, but there is hope that this will start to smooth out as time goes on.
And then there’s Elon slightly different take on the new product drought. When asked about future products and why there wouldn’t be any new products, Musk said, “There’s too much on our plate.” This is due to Tesla’s focus on scaling output and production over vehicle product development. Any new developments would “require attention and resources away from production of current cars,” said Musk.
A Robot Is A High Priority
While Musk did hint at potentially introducing the Cybertruck and Semi in 2023, he stated that the Optimus factory robot is a “high priority” for Tesla. The reasoning behind this, Musk pointed out, is a labor shortage. He asked Tesla investors to try to imagine a world without there ever being one, “I’m not even sure what an economy even means at that point,” said Musk, “that’s what Optimus is about.” Musk also hinted that the first use would be at Tesla factories helping to move parts around for production lines, though factory robots, autonomous or otherwise, aren’t exactly huge breakthroughs.
New Factories Are Being Scouted
Tesla also hinted that there are new locations being scouted for new production factories. No hints were dropped as to where they’re looking, but the company is optimistic that developments on these locations would be announced by the end of the year. Those potential new factories will run in conjunction with those new ones in Shanghai, Texas, and Berlin to pick up the demand from customers all over the world as the supply chain strengthens.
4680 Production
During the call, Tesla also pointed out that 4680 battery production has not hampered nor has been a constraint in vehicle production. The first Model Ys are being produced with that battery and the structural battery pack right now in Texas with deliveries expected during 2022. The only roadblock is pending final vehicle certifications which will “happen very soon,” according to Musk.
Full Self Driving Will Drive Profit, Too
Tesla not only expects Full Self Driving (FSD) to come out of Beta (or not-final software status) this year, but also will become the main profit driver. The company pointed to the demand in “robotaxis” as the reasoning behind this.
There was also mention of the Tesla Supercomputer, the DOJO, as being a part of development for FSD through video acquisition, but it would not be critical for its development at the same time. There will also be no separation of the licensing of the FSD between individual and business at this time as Tesla wants to keep the dollar per mile as low as possible. We’re skeptical that Full Self Driving will live up to its name anytime soon, and this isn’t the first time Tesla has claimed a self-driving car was imminent.
Tesla Insurance
Tesla is also looking to begin offering in-house car insurance to their customers in 2022, starting in Texas and expanding into the rest of the country by the end of the year. It hopes that it will be able to provide insurance coverage for up to 80 percent of customers, but roadblocks exist at the state level. One example that Musk explained is California and its regulations against using data acquisition to impact insurance premium fees. Other state level regulations are also issues for Tesla Insurance rollout.
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