In This Article:
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Gross Profit for Energy Storage: Record gross profit achieved in Q1.
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Vehicle Deliveries: Decline due to factory updates and reduced production.
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Auto Margins: Declined sequentially due to lower deliveries and fixed cost absorption.
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Energy Storage Deployments: Sequential decline, but highest gross profit recorded.
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Operating Expenses: Increased due to AI initiatives and vehicle program developments.
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Other Income: Significant reduction due to Bitcoin mark-to-market loss.
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CapEx Guidance: Forecasted to exceed $10 billion for the year.
Release Date: April 22, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Tesla Inc (NASDAQ:TSLA) is on track to launch fully autonomous rides in Austin by June, with plans to expand to other cities by the end of the year.
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The company has made significant progress in localizing supply chains, reducing logistics risks and tariffs impact.
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Tesla Inc (NASDAQ:TSLA) achieved a record gross profit for its energy storage business in Q1, with strong demand for Megapacks.
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The Optimus humanoid robot project is progressing well, with expectations to scale production to thousands of units by the end of the year.
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Tesla Inc (NASDAQ:TSLA) continues to lead in AI and autonomous technology, with plans to have millions of autonomous vehicles operating by the second half of next year.
Negative Points
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Tesla Inc (NASDAQ:TSLA) faced a decline in vehicle deliveries in Q1 due to factory updates and negative brand perception in certain markets.
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The company is experiencing challenges related to tariffs, particularly affecting the energy business due to reliance on Chinese LFP battery cells.
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Auto margins declined sequentially due to lower deliveries and reduced regulatory credit revenues.
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The Optimus robot production is affected by supply chain issues, particularly with permanent magnets from China.
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Tesla Inc (NASDAQ:TSLA) is facing increased operating expenses due to investments in AI initiatives and new vehicle programs.
Q & A Highlights
Q: What are the highest-risk items on the critical path to Robotaxi launch and scaling? A: Elon Musk, CEO, explained that the Robotaxi launch in Austin is on track for June with fully autonomous Model Ys. The ramp-up will be rapid, and large-scale autonomy is expected by mid-next year. Ashok Elluswamy, VP of AI Software, added that validation is crucial due to the long-tail problem of rare edge cases, and sophisticated simulations are being developed to ensure safety.
Q: When will FSD unsupervised be available for personal use on personally owned cars? A: Elon Musk, CEO, stated that unsupervised FSD should be available in several U.S. cities by the end of this year. The goal is to ensure it is definitively safer than manual driving before a broader rollout.