Teslas Will Soon Park Themselves When Arriving at Destination - Smarter Summon and Driverless Autopark Coming (2024)

With theSpring Updateand FSD V12.4 around the corner, Elon Musk sharedthatActuallySmart Summon and Banish (Autopark) are coming soon, along with some other updates to the new vision-based Auto Park.

FSD to Automatically Park at Destination

On FSD v12.3.6, which now includes the new Vision-based Autopark for vehicles with ultrasonic sensors, users have to manually search for and select a parking spot if they want to use Autopark. However, according to apost from Musk,FSD will automatically enter Autopark mode upon arriving at its destination. This will essentially combine the current FSD capabilities with Autopark and add the ability for the vehicle to traverse a parking lot looking for an empty space.

Banish Autopark Coming Soon

Smarter Summon and Banish Autopark, with the ability to send the car to and from a parking space without anyone in the car, will be coming soon, as perMusk’s recent X post.

Banish Autopark, previously known asReverse Summon, is expected to include various parking options, such as “closest to the door”, “near cart returns”, or “end of the parking lot”. This would drop the owner off at the entrance to alocationwhile having the vehicle automatically find a parking spot and then park itself. At least that is Tesla’s full vision, as Musk has talked about before. It’s not clear whether the Banish Autopark feature, will actually include all of these capabilities in v1, or if Tesla will slowly add more features to it. What we know now is that Tesla is working on having the vehicle park itself without a driver inside. It may simply be an extension of the Autopark we have today, where the driver finds a parking spot, selects it, and then exits the vehicle as it parks itself. This could be exceptionally useful for parking in tight spaces.

Actually Smart Summon Coming to Vehicles Without USS

Smarter Summononthe other hand, is an update to the existing Smart Summon functionality that is currently available on cars that have ultrasonic sensors (USS). Actually Smart Summon is expected to bring that functionality to Vision-only cars as well.

In traditional Tesla fashion, Tesla is building upon what it already has. Tesla first released Summon, which allowed the vehicle to move only forward or backward in a straight line. Tesla then released Smart Summon which allowed the vehicle to move toward a target, navigating obstacles on the way, and soon we’ll have an even more capable version of Smart Summon.

Release Date

Musk has previously mentioned that upcoming updates to FSDV12, will have various focuseson improvements. V12.4 will focus on user comfort, while v12.5 will focus on more complex scenarios.

These next two major FSD versions will probably take us to the end of the year. Banish Autopark will probably be arriving closer to v12.4 as a comfort improvement, while Actually Smart Summon, whichrelies upon the ability to reverse, may arrive in FSD V12.5.

During Tesla’s shareholder meeting, Elon Musk was asked if FSD transfers could return for existing owners. He hemmed and hawed, but eventually gave in when an audience member asked if they could return for just one more quarter.

Final Chance?

This could be the last chance for FSD owners to transfer their FSD capability to a new vehicle. Elon Musk mentioned that it removes revenue from upcoming vehicle sales. Every time Tesla offers FSD transfers, it impacts Tesla’s potential earnings.

On the flip side, it does incentivize current owners to upgrade to newer vehicles, especially if it’s a limited-time offer. Tesla previously offered FSD transfers in Q3 of 2023. FSD transfers are expected to be limited to North America where FSD software is currently available.

When Will Tesla Offer FSD Transfers

Musk nor Tesla mentioned a timeline for when FSD transfers would begin. Tesla owners looking to upgrade their vehicles would likely wait for this offer to be available before buying their new Tesla. Since this would reduce some vehicle sales, it seems that Tesla wouldn’t want to wait too long before making FSD transfers available again.

FSD Transfers in the Future

While Elon Musk didn’t seem to be too enthused with the idea of continuing transfers but gave in to “just one more quarter”, there could be more down the road.

Musk has said that Tesla has various demand “levers” they can use to increase or slow demand as needed. FSD transfers and Tesla’s referral program are prime examples of those levers. Although Musk says Tesla will only offer FSD transfers one more time, Tesla won’t hesitate to offer it again if they need to increase sales. Tesla faced this situation when the new Model 3 was unveiled in China, but it took several months for it to be offered in North America.

Additional FSD Trials

Elon Musk confirmed that two free weeks of FSD would be given to all vehicle owners whenever a major FSD update hits. We don’t expect another trial of FSD with the upcoming update of v12.4, but perhaps with v12.5 or 12.6, especially if Tesla adds new features such as ‘Actually Smart Summon,’ which will be the first time Smart Summon is available on a vehicle without ultrasonic sensors.

With Tesla’s app update to v4.34 yesterday, it appears that Tesla may be looking to offer a live video feed of the vehicle’s various cameras while you’re summoning your Tesla.

Did you miss the Shareholder Meeting? Want to know what Elon Musk said?

We’ve got an easy-to-read recap for you below, split by sections. We’ll be writing more in-depth about many of these topics over the upcoming days as we unpack all the awesome news!

Robotaxi

• Fleet monetization planning is ongoing.

• Owners will be able to send their cars to the Robotaxi fleet and summon them back when they need them.

• Tesla will take a margin, but most of the income will go to owners.

• Tesla has plans to solve driverless interventions in the future, but expects them to be edge cases of edge cases.

FSD

• Headed towards Unsupervised FSD!

• New subversions are essentially new full versions; 12.4 and 12.5 are massive updates.

• Expect a 2-5x increase in performance between versions.

• Major versions will include a 2-week free trial.

• 10 thousand miles between interventions for some internal builds.

• Hardware 4 training will begin later this year, Hardware 3 will continue to be developed.

• Hardware 5 is 18 months from retail release.

Optimus

• Optimus will be able to do many simple and difficult tasks:

  • Teaching

  • Companionship

  • Babysitting

  • Factory Work

• Tesla expects 2 humanoid robots per person in the future.

• Tesla expects 1000-2000 robots working in its factories by next year, with a limited production run.

• 22 degrees of freedom in the next generation hand, one new major hardware revision coming this year.

Cybertruck

• China and Europe-compliant Cybertruck coming after production is scaled and costs are reduced.

• Foundation series ending soon, non-foundation series starting next quarter.

Semi

• Semi is in low-volume production, high-volume production starting soon.

• Companies are actively choosing Semi due to economic advantages.

• Massive potential impact on carbon emissions

• Big impact on the profitability.

Other New Products

• New products are coming soon, and Tesla is working hard on them.

• Possible 12-passenger van, added to the “To-do” list.

Supercharger

• 58K global sites, and continuing to grow.

• More superchargers deployed this year than the rest of the industry combined.

• Tesla is providing adapters to other car companies and providing them with support for Supercharger access.

• Tesla is moving to fill gaps and relieve congestion where possible.

Battery Production and Stationary Storage

• New 4680 innovations, best cell from a manufacturing and efficiency standpoint.

• 4680 will be a continuing focus to improve over time.

• Tesla has made their battery supply chain stronger and is working on further vertical integration.

• 2023 had 15GWh of Megapack production, 2024 is looking closer to 40GWh.

• 100-200% growth rate in the energy storage market.

• Tesla is constrained by Megapack and Powerwall 3 production, can’t keep up with demand, even as they scale rapidly.

AI and Compute

• AI growth is on a weekly basis, with Tesla taking in video and training on decision-making faster than ever.

• Tesla is not compute-limited for FSD, but scenario-limited.

• There is an AWS-style opportunity for parked vehicles to run distributed inference and compute.

• Tesla intends to introduce LLMs with customizable learning personalities to Optimus and its vehicle lineup.

Investor Facts

• Elon Musk expects $5-10 Trillion valuation for autonomy, and $20 Trillion for Optimus.

• Musk mentioned that Ark Invest has the closest scenario – with Robotaxi releasing in 2025 or 2026, for a 110x valuation increase.

• Elon’s stock award isn’t cash, and he has no intent to cut-and-run and is with Tesla for the long haul to accomplish the mission.

Other Items

• Tesla Home HVAC, with a built-in HEPA filter, humidity control, super-efficient, super-quiet, with Powerwall integration – one day.

• Kids Factory Tour Event – for children under 12!

If you’d like to watch the shareholder meeting, you can view it here, along with all the stockholder vote results.