Tesla Inc. CEO Elon Musk announced that the company's Full Self-Driving (FSD) system will soon enable owners to converse with xAI's Grok, similar to interacting with a chauffeur. This feature aims to enhance user control by allowing verbal commands for navigation and parking, such as requesting to turn right or drop off passengers at specific locations. The functionality is expected to be available in a future update within approximately three months.

The announcement came in response to a user suggestion on X, where the idea of conversational capabilities was compared to the experience with an Uber Technologies Inc. driver. Musk confirmed the development, stating that the feature would be integrated into the FSD system to facilitate more natural interactions between the vehicle and the owner.

Separately, Tesla's self-driving initiatives received support from Marc Williams, Executive Director of the Texas Department of Transportation. He praised the driverless nature and design elements of the Tesla Cybercab, highlighting the company's progress in autonomous vehicle technology.

On June 16, Musk exercised stock options from his 2018 CEO Compensation Award, acquiring more than 300 million shares. This transaction increased his voting rights in Tesla to approximately 19.9%, with the company withholding 17.5 million shares. Following the news, Tesla shares rose 0.33% to $397.66 during after-hours trading on Wednesday.

Tesla Inc. CEO Elon Musk has increased his ownership stake in the electric vehicle manufacturer by exercising stock options from his 2018 CEO Compensation Award. According to a Form 4 filing with the SEC dated June 16, Musk gained over 303,960,630 shares at $23.34 per share. This transaction elevates his voting power in Tesla to approximately 19.9%, a significant development in the company's governance structure.

The original agreement granted Musk 20,264,042 shares at $350.02 per share. However, Tesla's stock underwent a 5-for-1 split in 2020 and a 3-for-1 split in 2022. These corporate actions adjusted the grant to 303,960,630 shares at the reduced price of $23.34 per share. To satisfy tax withholding obligations associated with the transaction, Tesla retained over 17.53 million shares valued at $404.66 each, totaling approximately $7.1 billion. The SEC filing explicitly states that the transaction did not involve any open-market sales of securities.

Following the settlement, Musk's net gain of new shares amounts to over 286,428,773. The Form 4 filing indicates that Musk now owns over 727,704,534 shares in total. This figure includes 423,743,904 shares previously acquired through the 2025 CEO award, which was approved in November of last year. However, a separate 13G filing reports that Musk owns 699,580,882 shares, which corresponds to the 19.9% voting stake.

Ownership Breakdown

The filing notes that the newly acquired shares will vest in 2028. This move consolidates Musk's position as the largest shareholder in Tesla, granting him substantial influence over future corporate decisions. The increase in voting power comes as Tesla continues to expand its operations in the electric vehicle and autonomous driving sectors.