On Thursday, Elon Musk hosted the Cyber Rodeo, which was the opening ceremony of Tesla’s new plant worth $1.1 billion in Austin.

Musk addressed the audience about the capacity of the factory and its production plans. He also spoke out to tease new Tesla products, including the Cybertruck, and an innovative robotaxi.

According to him, Tesla intends to make 500,000 Model Y cars per year at its newly-opened factory. Additionally, it expects to start selling the highly anticipated Cybertruck next spring.

Musk stated that in the twelve months since Musk took office, more than a million vehicles have been delivered worldwide. It’s still far to go.

According to him, Tesla’s size is increasing so that volumes are “no business has ever accomplished in the history humanity.”

It wouldn’t surprise Tesla to make some changes in its timelines during this time when automakers around the world are experiencing significant shortages of chips and high raw material costs due to the war in Ukraine.

Automaker said that it will expand the access to Full Self-Driving software (FSD), which is $12,000 in price, to more users.

Musk indicated that Musk is aiming to make Full Self-Driving available to all North Americans in wide beta by the end of this year.

Tesla is not producing self-driving automobiles, however it has developed Full Self-Driving driver assist software. It is currently in beta and only a small number of employees and customers can access it.

After acquiring a 9.1% stake, Parag Agrawal (NYSE: Twitter) announced that Musk would be joining Twitter’s Board of Directors.

By Senad Karaahmetovic