Tesla(TSLA)2024-10-24 01:02Financial Data and Key Metrics - Record operating cash flows of 3.5 billion, with an expected annual CapEx exceeding 326 million in revenues in Q3 [26] - Semi production is on track to start in the first half of 2026, with pilot builds in the second half of 2025 [53] Market Data and Key Metrics - China continues to outperform the U.S. and Europe by a factor of three in terms of EV adoption [27] - Tesla plans to roll out ride-hailing services in California and Texas next year, pending regulatory approval [18] Company Strategy and Industry Competition - Tesla is focused on building affordable models, with plans to deliver more affordable vehicles starting in the first half of 2025 [5] - The company aims for 20% to 30% vehicle growth next year, contingent on external factors [5] - Tesla is advancing its autonomy technology, with significant improvements in miles between interventions for FSD [8][9] - The company is also developing the Cybercab, targeting volume production by 2026 with a goal of 2 million units annually [6] Management Commentary on Operating Environment and Future Outlook - Tesla is navigating a challenging automotive environment but remains profitable [3] - The company expects to achieve unsupervised FSD by Q2 of next year, with safety levels surpassing human drivers [12] - Tesla is expanding its AI training capacity to support both FSD and Optimus, with no current compute constraints [19] - The energy business is seen as a significant opportunity, with plans to scale up to multiple terawatt hours per year in stationary storage [21] Other Important Information - Tesla is working on reducing the cost per vehicle, with Q3 marking the lowest cost per micro [32] - The company is expanding its service centers, with 70 new locations opened or planned in North America [46] - Tesla is also focusing on improving service efficiency through automation and better diagnostics [51] Q&A Session Summary Question: Is Tesla on track to deliver the more affordable model next year? - Tesla is on track to deliver more affordable models in the first half of 2025, aligning with its AI product roadmap [35] Question: When will Tesla release a 25,000 non-robotaxi model, as the future is focused on autonomous vehicles [36][37] Question: What is Tesla doing to alleviate long wait times at service centers? - Tesla is expanding service centers and improving efficiency through automation and better diagnostics [46][51] Question: What is the update on the Semi and FSD readiness? - Semi production is on track to start in the first half of 2026, with FSD expected to be ready for the Semi platform once the fleet is trained [53][59] Question: When will Tesla incorporate X and Grok in all vehicles? - Tesla plans to expand in-car functionalities, including access to X and Grok, as part of its autonomous vehicle strategy [61] Question: Will unsupervised FSD be available in California and Texas next year? - Tesla expects to achieve unsupervised FSD in California and Texas next year, pending regulatory approval [64] Question: What is the plan for 2025? - Tesla plans to launch cheaper models, expand energy storage, and continue advancing its AI and autonomy technologies [69][75] Question: What is the status of the Tesla Roadster? - The Tesla Roadster is still in development, with progress being made on the design, but it remains a lower priority compared to other projects [77] Question: How will the robotaxi rollout proceed? - Tesla plans to start with a company-deployed fleet and may allow customers to add their vehicles on a subscription model, with Hardware 3 potentially requiring upgrades [79][82] Question: How is Tesla utilizing its compute resources for AI? - Tesla is using its compute resources to train larger models and improve the reliability of its AI systems, with no current compute constraints [84][86] Question: What is the relationship between Tesla and xAI? - xAI has been helpful to Tesla in terms of scaling and training, but the two companies are focused on different problems, with Tesla concentrating on real-world AI applications [90][92]