Tesla’s This fall 2024 earnings convention name was loaded with Elon Musk’s trademark swagger, big-time confidence, and daring predictions. From full self-driving (FSD) to humanoid robots, Musk painted a imaginative and prescient of a future the place Tesla dominates not simply the automotive sector however synthetic intelligence and robotics. Listed here are the eight greatest takeaways from the decision:
1. Tesla Mannequin Y leads the complete business
Musk began off by celebrating Tesla’s manufacturing and supply achievements. “In This fall, we set a document and delivered autos at an annualized price of practically 2 million a 12 months,” he stated, emphasizing that the Mannequin Y was the best-selling automobile of any form globally. “That is value noting. Not simply the perfect electrical car—the perfect car of any form on Earth, No. 1 was Mannequin Y.” Tesla’s shareholder letter added, “we have now made it even higher, with the New [Juniper] Mannequin Y now launched in all markets.”
2. Full self-driving (FSD) is the important thing to Tesla’s future
Musk restated his long-standing perception that car autonomy would be the greatest driver of Tesla’s worth. “Autonomy is like 10X-ing,” the expansion potential for Tesla, in response to Musk. He additionally reaffirmed Tesla’s aggressive push towards deploying an autonomous ride-hailing community, stating, “We shall be launching unsupervised full self-driving as a paid service in Austin in June.” He additionally talked about that the rollout might embody California as effectively this 12 months.
3. Tesla may very well be probably the most precious firm on the earth—by far
How far? Musk threw down the gauntlet — making maybe his most audacious monetary prediction but: “I see a path. I’m not saying it’s a straightforward path, however I see a path the place Tesla is value greater than the following prime 5 firms mixed.” He acknowledged the challenges forward however insisted it could be an achievable purpose, given the corporate’s fast developments in synthetic intelligence, self-driving know-how, and robotics.
4. FSD just isn’t a toddler anymore — it’s rising up quick
Musk addressed ongoing skepticism about Tesla’s FSD progress, utilizing this analogy: “If somebody’s final expertise with FSD was a toddler, they suppose it will likely be a toddler perpetually. However clearly, it’s rising up—it walks and talks now.” He reiterated his problem to skeptics: “Attempt it. When’s the final time you tried it?”
5. The robotaxi revolution is coming
Tesla’s FSD developments are main on to what Musk calls “the most important asset worth enhance in human historical past.” He defined, “A passenger automobile usually has solely about 10 hours of utility per week. As soon as that automobile is autonomous, my tough estimate is that it’s in use for at the least 35, perhaps 50 hours every week.” He emphasised that the identical car may very well be used for each folks and cargo transportation, vastly rising its worth. That stated, Tesla’s shareholder letter gave this timeframe: “Our purpose-built Robotaxi product – Cybercab – will proceed to pursue a revolutionary ‘unboxed’ manufacturing technique and is scheduled for quantity manufacturing beginning in 2026.”
6. Tesla’s future shall be ‘ballistic’
Musk predicted that Tesla’s development within the coming years shall be exponential. “Issues are actually going to go ballistic subsequent 12 months and actually ballistic in ‘27 and ‘28,” he stated. He highlighted that Tesla is laying the groundwork for a producing and AI revolution that may drive unprecedented enlargement on the firm. Tesla’s shareholder letter additionally forecasted massive issues within the quick time period: “2025 shall be a seminal 12 months in Tesla’s historical past.”
7. Tesla made $600 million from Bitcoin
Tesla’s Chief Monetary Officer, Vaibhav Taneja, highlighted a major monetary acquire from the corporate’s Bitcoin holdings. “Our internet earnings in This fall was impacted by a $600 million mark-to-market profit from Bitcoin as a result of adoption of a brand new accounting commonplace for digital property,” he stated. This marks one of many largest cryptocurrency-related positive aspects in Tesla’s monetary historical past — an fascinating flip of occasions because the incoming administration pivots to a extra Bitcoin-friendly future.
8. Tesla’s new (cheaper) fashions are coming quickly
Tesla’s shareholder letter notes, “Plans for brand new autos, together with extra inexpensive fashions, stay on monitor for begin of manufacturing within the first half of 2025. These autos will make the most of elements of the next-generation platform in addition to elements of our present platforms and shall be produced on the identical manufacturing traces as our present car lineup.” This strategy, Tesla said, will allow “greater than 60% development over 2024 manufacturing earlier than investing in new manufacturing traces.”
Remaining Ideas
If there’s one factor Musk made clear, it’s that Tesla just isn’t slowing down. From FSD to Optimus, the corporate is betting massive on car autonomy and synthetic intelligence. Whether or not Tesla can ship on these aggressive timeframes stays to be seen, however one factor is for positive—Musk is as assured as ever. And as historical past has clearly demonstrated, betting towards him is never a successful technique.
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Co-founder of EVANNEX, Matt Pressman owns each a Tesla Mannequin S and Mannequin 3 and stays a long-term investor in TSLA inventory. He’s written extensively about Tesla and his work has been printed in CleanTechnica, InsideEVs, and Teslarati. He’s additionally appeared quite a few occasions on Fox Enterprise Information and PBS to offer his views on Elon Musk and Tesla.
