With SpaceX now a public company, it's

very possible Tesla robo taxi will begin

its ramp. Still slow at first, but soon

gaining speed. First, on Wednesday,

Belgium announced they've approved FSE

supervised with Denmark's approval just

a few days prior. That makes it five

countries in Europe, about 11% of all

European countries. Second, in a new

note, Alex Potter of Piper Sandler said

he believes Tesla has already achieved

level four autonomy in most conditions.

He wrote, quote, "Tesla has solved the

self-driving puzzle and that FSD is

ready for dissemination beyond early

adopters. This comes as Tesla's global

fleet just crossed 11 billion miles

driven on FSE supervised, a whole extra

billion from just a month ago." Third,

parking lots in Dallas and Houston

continue to have fleets of parked cyber

caps just sitting there. Fourth, Chinese

automaker BYD just recorded its eighth

straight month of sales declines in

China with a 30% drop since the start of

the year. Gil, Xiaomi, and Tesla are the

top three in sales in April. Finally,

two new reports show that a Tesla is

twice as likely to reach 250,000 m as a

Subaru. And the 2026 Tesla Model 3

rearwheel drive has come out as the most

efficient vehicle in real world tests.

We got Brian White joining us today. He

is one of our only true Tesla

journalists. Check out his YouTube

channel, Futurazza, for exclusive Check

out his YouTube channel, Futurazza, for

exclusive on the ground factory tours

and interviews. Welcome, Brian.

>> Great to be here. What a bunch of uh

fantastic stories. Uh some of these came

as a surprise to me, especially the

Subaru one, but we'll get into it.

>> Yeah. uh FSD and robo taxi are the most

important that we're following and I

think that with SpaceX now a public

company I have a suspicion maybe

something will happen this weekend so we

are seeing a number of robo taxis being

added almost 10 a day to the being

registered at um Texas by the DMV but

this is the latest news FSD in Belgium

the approval has been done by the

ministry of transport of Flanders. But

as as you can see in the second

paragraph, the approval is for the whole

Belgian territory. So according to Kee,

he told me that there's two territories

in Belgium and they sometimes don't do

what each other wants. But in this case,

they both agreed Belgium has efficially

said, look at this. The Tesla community

has been keeping a close eye on this for

quite some time. Regarding the approval

for FSE technology on both our Flemish

and Belgian roads in appreciation of

your unwavering interest, you get the

scoop here. I just signed the approval.

And uh this is the her letter that she

signed. And uh just a few days ago, Elon

announced FSA approved in Denmark and so

did Tesla Europe. So now as of Belgium

and Denmark added in just uh very quick

succession here we've got now five

countries Belgium, Netherlands, Denmark,

Lithuania, and Estonia. And I mean

they're tiny countries, but 11% of all

European countries have now approved FSE

supervised. What do you think, Brian?

>> Oh, probably nothing. Look, we've been

trying to explain this to our

international friends for many years

now. When the Germans came out for the

Tesla summer meetup in Michigan last

year, not this year, but the year before

in 25, they were saying to me, "You

don't understand. We can see things

being here visiting the US that the rest

of the world can't see, that Europe

can't see. We're getting to borrow cars,

rent cars, ride in cars that have the

latest FSD." And what we're hearing in

the in the media in Europe is, "Well, it

doesn't work." Wales, we go on X and we

see, you know, only the goofs because

the goofs are the only part that's

interesting. We can see it in action for

ourselves and Europe doesn't know about

this. So, from the consumer side, I'm

not saying everybody's going to go out

and buy one because it can drive itself

supervised, but I am saying that there

are people who won't buy anything else

ever again once they have an opportunity

to see that it works. That could just be

1% or 2% extra sales at first. It might

be five or 10% extra sales, but over

time that number will continue to climb.

And as from the investor side, we're

talking we're unlocking millions of

vehicles. We, me, my tapeworm and Tesla

are unlocking uh millions of vehicles

that are eligible for an extra 99 bucks

a month of perpetual revenue. This is

very exciting. And then of course we

also get to see cyber cabs when they're

new. We get to see cyber trucks when

they're new. We get to see the semi in

ways that they can't. Those of us who

happen to be on the correct roads and

the correct places at the correct times.

So there's a lot of excitement there and

these European countries are just

finding out about it.

>> Which uh country in Europe do you think

is going to come next?

>> Spain. I think Spain was really pushing

to be the next one on the list. Mhm.

>> Um so and that would be it's not just

large geographically. It does have a

substantial population. That would be a

good one to get uh if they're as

aggressive as they appear to be. Um it

wouldn't surprise me to see Ireland

relatively soon as they've been working

both with the European regulators but

also with Tesla directly. So at this

point it's just a matter of dominoes.

They started falling. They're not gonna

stop.

>> Okay. And uh this is what Alex Potter of

Piper Sandler is saying now. I just we

interviewed him at Cyberbulls a couple

weeks ago and he is pro Tesla. He gets

Tesla really really well. But look at

what he's now saying. He is now saying

that he believes Tesla has achieved

level four autonomy in most conditions.

In his note on Wednesday, he said Tesla

has solved the self-driving puzzle. FSD

is ready for dissemination beyond early

adopters. And then of course he has his

own personal experience as he had FSE

driving him from Missoula

>> Missoula Montana

>> to Minneapolis Minnesota

>> in April stating there is no substitute

for personal experience 100%. This

weekend I had an opportunity to drive a

hardware 3 Model 3 158,000 miles on the

odometer. It's been a turo car for much

of its life and it's in great shape. I

wouldn't buy a gas car with 158,000

miles on it unless I plan to keep it for

3 to 6 months at most. This car is in

great shape, but it's hardware 3. They'd

had it updated to hardware 3 because

they'd bought the FSD. And the Gulf is

widening between the capabilities of

hardware 3 and hardware 4. I know you

had a chance less than six months ago to

spend some time with the hardware 3

vehicle, and you and I were both

impressed by how good it actually is.

But hardware 4 keeps getting better and

the Gulf is widening. It does great. If

we get hardware 4 light, something like

it for hardware 3 cars, uh, you know,

FSD version 14 light rather, that's

going to be huge, not just for

consumers, but also for the company,

also for investors. I've seen too many

people who've said Tesla doesn't care

about hardware 3 cars. My friend, they

do. They do times millions. There are

millions of those on the road which they

wish to unlock as revenue generating

safety machines.

>> What's your guess, Brian? Uh, it's now

middle of June. I think they had said

that they might get the hardware for

port FSD version 14 light for hardware 3

cars by the end of June. And

>> we've not heard anything.

>> We haven't heard anything, but I just

shook my Elon magic eightball and it

said two weeks. So,

>> okay.

You're dead on. Dead on, dude.

>> I don't know. I don't know. I believe

the statements made by Ashok, but I do

not follow the timelines of Mr. Musk.

>> Okay. And uh right on schedule here.

Look at this. FSD supervised has now

crossed 11 billion miles. And it was

just 10 billion a month ago. A whole

billion in one month. Tesla owners are

collectively driving 1 billion FSE miles

every 37 days. With now more European

countries getting FSE supervised

approval, Tesla's fleet in general

growing every day. The average daily FSE

miles is growing quickly. And of course

the other metric there is percentage of

use and uh I'm sure you're using it over

90%, I am using it over 90%. I think

people once they start using it, they

gravitate to using it almost all the

time. Mhm.

>> I've used it so much that I'm at 98% and

I do not see a path to 99% or 97. Uh

because it's a big we're talking big

numbers now. Um I don't know 8 9,000

miles I've driven on FSD. It's a lot.

And uh that bill that 11 billion I'm not

impressed because I think half of it's

David Moss uh and without him

>> one guy

>> one just David just the whole the whole

you can see the sliver of the pie chart

we tease of course but people are using

this and you could argue that miles like

David logs are not as useful because

they're almost all highway. Yes, but

then it gets off the highway and it goes

to a charger and it selects a spot and

it backs into it without instruction,

without nudge, without repositioning. It

just does it. And it does that over and

over again. The only times I'm

disengaging is for parking preference

because or if I genuinely don't know

where I want to go, but even then

sometimes I'll just turn it on and it

says there's no destination, but you got

it buddy and away we go. It's kind of

interesting to see where it takes you.

Yeah, you I think they still do need the

10 billion, 11 billion, right? More to

get the edge cases. Uh but they're

getting the miles they need. That's the

key thing. Um Roboaxi,

>> we just we can just see it's working.

And Robo Taxi, perfect segue.

>> Let's talk root taxi. Now, we're filming

this on a Wednesday. Uh this will be

published on a Friday. And it is old

news. Now, by the time I mention this,

it'll be old news because it looks like

every single day they've been adding 10

at least 10 cars

>> are being registered. And this is real

registrations, by the way. This is uh

registered with the Texas DMV. So, now

they're saying that there's actually 69

vehicles in Texas. Nice. Of course,

funny number, but it's gone up by 10 and

it's going up really quickly as we're

moving forward. There are more and more

cyber caps specifically being found

parked. Something as big as brewing.

Look at these photos here. This is from

Trash Panda uh in North Houston, Texas.

And then this is the second photo. You

can see all these cyber cabs just parked

there.

>> And of course, they're being driven

around too. And this is Dallas. Look at

this photo from Dallas. Um they're just

accumulating. What's going on?

So when you see troops amassing at your

border, if you think nothing's going on,

I would ask you to study any amount of

history. This is a big deal. They're not

doing this for fun or for clout or for,

you know, just in case. They're doing

this because they have a plan. The fact

that they haven't told us that plan

doesn't mean it doesn't exist. They will

absolutely be rolling these out as soon

as they believe it is. definitely safe

to do so. Sandy Monroe did an interview

with Will from Tesla Jigsaw over the

weekend in which Sandy was uh his usual

spicy self, but one of the things he

said is, "Look, it's already safer. Why

are you holding it back?" Uh, and he's

not addressing Tesla, he's addressing

regulators specifically in Europe,

saying it is a safer system. How will

there be zero deaths? No, I don't think

that's, you know, a tree can fall, a

road can wash out ahead of you. There

are too many variables. Life is

unpredictable, but uh unless of course

what you're trying to predict is

bureaucracy, in which case the red tape

factories running at full speed. You

know, that's a very good point. I think

we're at this point now. We just on a

few days ago presented data that showed

that in Denmark, right? Because this is

European roads, right? You can say hey I

know you're testing it in US but you

guys have highways you have different

system there we don't know if it's safer

here in our roads Denmark has had it for

4 months and they showed that FSD

supervised is three and a half times

safer than human and all these you know

key metrics of uh less hard breaking

less hard turns all those things so

they've got real data now and so you

know if you're the regulator in Europe

and your goal is to protect you know to

protect your public, your citizens,

every day you delay approving something

this, you're actually killing them. So,

>> and isn't that reality?

>> Isn't that the reality? We can look at

it with other automobile safety

regulations. When seat belts became uh

were introduced, deaths went down. When

they became mandatory, deaths went down.

When they went to a three-point harness

instead of just a lap belt, you can

watch all of these improvements. Airbags

do save lives. Uh mostly what they save

is you know traumatic head injuries but

um that is saving lives to a lesser

degree and uh this is just the next

logical iteration. Backup cameras are

mandatory because people would not just

cause property damage but run over

children back over a little kid on a

bike who darted out. Your car shouldn't

be doing that. And with all the added

safety, when I am driving in full meat

operation, I feel blind. I feel like I

don't know what's in my blind spots

because I don't know what's in my blind

spots because I can't know. I don't have

eyes on the back of my head. That's

something only mothers did. Apparently,

>> my mothers do. If you're not a mother,

you don't have it. But this is efficacy

supervised. So, we're not yet talking

about robo taxi. They're just talking.

>> No,

>> you've got this extra ADAS service that

helps you be safer, but you're still

driving. And in fact, in Europe, they

have additional rules, right? It's hands

ready. Not handsfree. You've got to do

this legally. You're supposed to have

your hands always ready, not just

putting it down

>> to touch the wheel. Do you have to touch

the wheel or just be or just

>> I don't think so. My understanding is

just Yes. It's got to be like this.

Okay. So, they uh approval is happening.

FS miles are moving. Robo taxi cyber

cabs are piling up. Let's go back to

vehicle sales. Uh Roland Percher has new

data or at least he's kind of looked at

it in a new way. So you guys should

follow Roland Percher at Poli. He's the

best out there. And in these countries

down below here in Europe, he does track

it very closely now because these are

the ones that share the data. That's why

he's got kind of a subset of all of

Europe. And um the difference between

May 2026 and May 2025. and he calculated

it is exactly 24,000 vehicles. So it's

not you know that's not the hard number

for all of Europe but it's a indicator

for these these uh cities or countries

anyways gives you a sense of the

difference the US data is fairly

uncertain but the Chinese data will be

released over the next few days so these

two countries are the big players that

can change the whole picture Europe is

not as big as the other two u but here

is his uh kind of just showing the

change year-over-year now I don't like

the year-over-year because of course

last year was the factory shutdown

But still you can see that almost every

country it is growing again. Why is

these countries going down Brian?

>> Um so it could be a a million things. It

could be seasonality. Maybe Italy has uh

more sales in the summer. Um too many to

know on the why are they going down? Um

Hungary and Turkey have both had some

political unrest. Maybe that's part of

it. Uh Switzerland, I don't know. maybe

they're too busy counting dloons. Uh so

I don't have any specific information on

those markets.

>> And then even more significant than the

monthly sales data is the total sales

data for the first five months of the

year. And then here he says it's 95,000.

Tesla sold a surplus of 95,000 compared

to last year. So that's significant.

It's close to 100,000.

>> Yes, it's uh to your point, your earlier

point, the retooling really skews this.

I have more fun comparing it to uh the

previous year to 2024 um because in a

lot of markets it's still up. You take

some of the countries like Norway,

Finland, Sweden where sales were already

so high that they can't go any higher

and then they went higher. So all uh

>> a lot of and you and I have discussed

this, a lot of the negativity

surrounding the brand itself has

diminished a bit. So that's helpful,

too.

>> Thank you, Roland, for fresh data there.

Michael Dunn, uh, he was the ex CEO of

GM Indonesia. Had him on my show many

times now, and he's pointed out that BYD

Auto is not doing well. They've recorded

their eighth straight month of sales

decline in China. And if you look at

it's like 30% drop to start the year.

And what's happening is Gily, Changen,

SIC are starting to apply pressure and

you can see also Tesla. So here you go,

30% year-over-year drop for BYYD. Um

they continue to lose sales. And here is

the latest data here. The top three cars

is a Gily and then a Xiaomi SU7. These

guys keep flipping um you know who's

ahead, Xiaomi or Model Y, but the Model

Y here. And um and again it's depending

on which month it's April so I don't

know if that's a delivery wave or

something but anyways it's these three

that are the top. See last month uh

Model Y was number one. So

>> well if this is April the reason Model 3

is Model Y is in third place is because

that's the big export month.

>> Model Y yeah routinely surges back into

first place. Um, I will tell you on BYD,

I don't know what their problems are.

They have a reasonably good product.

They have reasonably good prices. They

control the software stack. They have

great software. Um, they have extremely

exceptional charging. So, I don't know

what's causing the delays in people, you

know, the dip in sales, but China's

market is very competitive, very

aggressive. But I would have if you'd

have asked me a year ago, I' have said,

"Well, BYD will still be the one to beat

in China." So, I know on in the case of

Xiaomi, it's a very exciting brand. They

make two cars. They're both pretty darn

good-looking, pretty darn compelling,

reasonably priced. Uh, so those I

understand. The reason I don't think

Xiaomi will finish the year in first or

second place is because they lose like

five grand for every car they sell. You

can offset that with other business

lines. They have other They're a big

tech conglomerate,

but the appetite for losing $5,000 times

millions of units. You're getting into

the billions quickly. Uh we'll see what

they do. Obviously, they're going to

work on cost controls, but there's only

so much of that you can do.

>> I think Somi will succeed. um you know

you know that famous chart of how many

years it takes and how much loss you can

take for years until you turn it around

and get volume and they've got the

volume

>> and so now it's just

>> you know they have to work hard like

Tesla did right the model 3 production

hell they need to do this

>> it up

>> in the movie Citizen Kane they said you

realize you lost a million dollars on

this newspaper and he said yes and if I

lose a million every year I'll be out of

business in 60 years okay I mean that's

a good perspective

All right. Tesla cars though are really

good and uh people are starting to

figure it out. Here's two new reports.

The first one is Tesla even reported

themselves that Tesla's twice as likely

like likely to reach 250,000 miles as

Subaru. No engine, no oil changes, no

timing chains, no fuel injectors, far

fewer moving parts overall.

You might have made is that a big bet to

say, "Hey, if I don't have money parts,

it's less likely to break." And this is

a full report here. Japanese brands

dominated expected, but there's an

electric interloper crashing the

durability party is the title. Toyota

and Lexus are crowned kings of long-term

durability in a new study. Together with

Honda and Acura, they're most likely to

reach 250,000 miles. Tesla rank

surprisingly high, finishing ahead of

Mazda, Subaru, and Porsche. I wonder why

you think it's surprisingly high.

>> Right. So, I have not seen many cars in

my life that have over 250,000 miles. If

you go on Autotrader, you can filter by

mileage and you can look nationwide for

only cars with over and I don't remember

what the highest tier is, but I want to

say 150,000 is the highest tier that

they have. And when you search, you'll

find only a few dozen cars nationwide

are for sale in that range. Part of it

is because the people who own them have

already long ago committed to driving

them until they will not drive anymore.

But even among people I know, the

highest mileage cars I've seen among

friends outside of electric vehicles

would be maybe a maybe three or four

people I knew that were over 200,000 on

a particular vehicle. And the amount of

work it took to keep them running as

long as they did was pretty outrageous.

You know, some of them would have

rebuilt motors. So in a Tesla, you don't

have the parts, but that's true of the

other electric brands. Maybe they are

just as durable and they don't have

enough track record yet to have found

that many cars. Takes time to get those

kind of numbers in. But it doesn't

surprise me because like I said earlier

in the show, I drove a car with 158,000

miles last weekend and it felt great. It

felt like if if you didn't look at the

odometer, if you didn't see the chrome

uh trim, you wouldn't know how old the

car was. You'd say, I don't know, two

years, three. It feels more solid than

most rental cars with 10,000 m on it.

So, not surprised.

>> I was trying to read the article to find

actual, you know, details of how they

did this. Couldn't find any. I mean,

it's a study by IC cars. I've heard of

them before.

>> Mhm.

>> 174 million vehicles. It sounds like

that's a pretty decent number.

And um but I don't understand how Tesla

would be sixth place.

Oh,

>> because they they themselves say given

the endless online debates about battery

degradation, replacement costs, that's a

result you probably weren't expecting.

>> Sure.

>> In hindsight, it shouldn't be shocking.

Electric vehicles have their own

challenges, but they also eliminate a

long list of components. So, this should

be the most likely car to sit well past

250.

>> Sure. So, I'll tell you I'll tell you

the reason it's as low as it is is

because it hasn't existed long enough

for a meaningful number of them to have

hit 250,000

in a car. You your gas motor, your gas

engine is full of gaskets. And if any of

those gaskets go out, which they will

eventually, you could suffer

catastrophic failure before you know

that it has gone out. On a Tesla, you

have very few gaskets, very few points

of connection for uh to hold liquid

back. And really the only failure I

could see is maybe the battery coolant.

Uh that loop is compromised and it

drains out. That car will not charge or

operate without that fluid. You will not

suffer catastrophic failure. What you'll

do is tow it to a shop, have the gasket

replaced, and the car refilled with

coolant and you're back on your way. So,

uh, a lot of things that happen with a

dino burner are instantly catastrophic.

No matter how small they may seem, you

don't get that.

>> Yeah, it would be nice to find the

details of this because it doesn't make

sense. It's Tesla will be number one. No

doubt about it. Just don't have any

parts.

>> Sixth best in the entire world, I think,

is pretty reasonable. Uh, I for a

company as new as they are, for a

company that's a hundred years newer

than many they're competing against, I

think that's all right.

>> No, it doesn't make sense. No parts,

very little parts, you're going to lose

250,000 miles. And then until you have a

smoking gun, which everybody thinks was

battery, and it's not. The real data

shows that you only lose 1% degradation

per year. So in 10 years, 12 years, 15

years, you've got 15% less battery.

That's about it. Nothing bad. You don't

have to replace those batteries as you

think it is. Uh gas cars have too many

parts. I've owned many gas cars. I'm

very tired of sub service.

>> Yeah, I'm tired of fuel pumps. I'm tired

of uh water pumps. I'm tired of timing

chains

>> for the birds. And really what I'm tired

of is uh taking a half a day off work to

deal with an oil change because sure the

oil it only takes a half hour, 45

minutes, but there's two cars ahead of

you now. It's a whole afternoon. Forget

it. Oh, so glad I don't have to do that.

Okay. 2026 Tesla Model 3 rear wheel

drive is the most efficient EV that

Edmonds has tested that is currently in

production. There you go. And as

realworld testing, an EPA range estimate

of 363 mi, but our test car traveled 393

mi on a full charge. That's 30 mi

farther than its official figure or an

8.3% improvement. The more impressive

figure is how little energy it used to

get there. The EPA rates the Model 3 R.

R WD at 25 kwatt hours per 100 miles or

4 m per kilowatt hour. In our testing,

it returned 21.7 kwatt hours per 100

miles, making it 13% more efficient. Um,

the latest car feels quick, quick,

quiet, and easy to drive with responsive

steering and useful cargo space. Also

found the cabin to be better finished

before. The Model 3 are we rear wheel

drive is an unusually efficient vehicle.

is the efficiency champ in a real world

range test.

>> As you know, that's the car that we got.

That's my son's car. Except in red, you

know that.

>> Yours is not a rear wheel drive.

Harvard. I went we went for we don't

need the power. We don't need the

traction. What we need is the

efficiency. So, we did the 18-in wheels

with the uh rear wheel drive only. And

as you'll recall, I took it out for an

overnight test drive. I said, I give it

to me at 100%. I need to really really

test it. We drove 4 hours. We drove an

hour down for for dinner. We drove two

hours home. We drove an hour back to the

service center and we dropped it off at

the showroom with 27% state of charge

remaining after 4 hours. If you look at

my lifetime real real world efficiency

on this exact car, I am doing better

than the EPA stated 250 W hours per mile

despite the fact that a considerable

percentage of that has been done at 80 m

an hour or more because again it's our

road trip car. That's what the speed

limit is in a lot of places. If you're

going to get a big range hit, that's

where it's going to happen is at high

speeds. uh and you know the maximum wind

resistance. This car is very efficient.

James Stevenson had been hovering at a

lifetime on his old Model 3 of about 208

watt hours per mile because he doesn't

take the freeway very often. So when the

cyber cab engineers said 5.5 miles per

kilowatt, I said really? Are you sure?

They said that's what we're allowed to

say. And now we've got the new numbers

and of course it's more efficient

because how could it not be? Tesla's

been working on this. And could you make

a more efficient vehicle? Yes. But at a

tremendous cost increase, this strikes

to me the perfect balance because it's a

very affordable car and it gets

fantastic range.

>> All right, Brian. So, just wait. I'm

going to give you a summary of the theme

of today's show.

>> You're going to be shocked at how good

this is.

>> It's really good. It's a really good

summary. Okay. What we're watching

happening in front of our eyes is

regulators and third parties realizing

the benefits of a Tesla. So you've got,

you know, admins, you've got IC car

showing that this is the most efficient

car and has the less least likely to to

have an issue over 250,000 miles. You've

got regulators in Europe, Belgium,

Denmark, four other countries approving

full self-driving, saying to you that

yes, full self-driving supervised is

more is actually, you know, safer than

human. You've got Piper Sandler coming

out saying that Tesla solved

self-driving. It's done.

And you've got 11 billion miles driven

and FS supervised. You got robo taxis

and cyber cabs everywhere. So soon we

will see more and more third parties

realizing what you and I and everyone

watching this have known for so long.

It's starting to happen. People are

realizing that this is true. Better cars

they can drive themselves. What more

could you ask for? You all right buddy?

Check out Futurazza.

That's what you should check out. See

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