That’s really helpful. Didn’t know what the tongue weight was till now. I read the manual and the tongue weight limit is 500lbs if you’re using 20 inch wheels.
Vertical carrying weight such as a bike carrier or a hitch mounted cargo carrier is limited to 120lbs for the Model X hitch. If you search for 'cargo hitch' on TMC you will find a lot of discussion that will be directly relevant to you for wanting to carry bikes.
Carrying Accessories
The Model X towing package has a 2" hitch
receiver that can support an accessory carrier.
The hitch receiver is designed to support
vertical loads of up to 120 lbs (54 kg). When
carrying bicycles or other items on the Model
X hitch, always check to ensure that the
maximum weight is not exceeded. When
calculating weight, remember to include the
weight of the accessory carrier. For example,
assuming the carrier weighs 40 lbs, the weight
threshold is
sufficient
for carrying two bicycles
weighing approximately 40 lbs each, or four
bicycles weighing approximately 20 lbs each.
Caution:
The Model X hitch is designed to
support up to 120 lbs (54 kg). Exceeding
this maximum weight can cause
significant
damage.
Caution:
Do not attempt to install a
carrier on a Model X that is not equipped
with the towing package. Doing so can
cause
significant
damage.