Tesla, like most companies is required to have quarterly report to shareholders, and with over 28 announcements from Tesla Q3 2024 was possibly the most bullish announcement for a number of years. Profits up, new products and services underway.
Announcements from Telsa
General Announcements
- Record-breaking quarter Q3 2024
- On track to deliver more affordable models first half of 2025
- Over 7m cars built
- Adding more margin
- Increasing vehicle credits
- The average sell price vehicles dropped 20% over last 12 months but the margin has increased from 14% to 19%
- Positive margins now on new Cybertruck with over 30,000 sold
- Elon expects 20-30% vehicle growth in 2025, barring negative events
- FSD v13 will be released soon.
- FSD to be safer than a human next year.
- Increased the number of charging stations,doubled the number of service centers over the past 12 months and driving service to be a design issue to reduce repairs and service to the customers.
Ride Hailing
- Human Level driving by Q2 2025
- Tesla has been operating a ride-hailing service for its employees in San Francisco for the past year (with a safety driver)
- Tesla expects to roll out their ride-hailing service in Texas & California next year, probably Texas first.
- If Tesla is UNABLE to reach Unsupervised FSD with HW3, they will update it for free for existing owners.
Cybercab
- Cybercab will be a $25,000 car.
- Tesla is confident on reaching volume Cybercab production in 2026.
- Aiiming for 2 million vehicles per year with no ramp.
- Cybercab designed for high volume production and will utilise Tesla’s revolutionary unboxed manufacturing method. “It’s in its own league.”
Storage
- Over 30% gross margin on energy products
- Tesla says it won’t be long until they ship 100GWh of stationary storage. It will grow to multiple terawatt-hours per year.
- Lathrop has over 40GWh capacity already.
- Shanghai battery factory is over 80% completed.
- Internal production of 4680 has passed 100m and will be the most competitive battery in North America
AI
- 50,000 NVidia h100 cluster on line by the end of October 2024
Robotics – Optimus
- Optimus massive improvement in movement – walking stairs, 22 DoF hand
- Ability to scale with manufacturing design, AI brain and daily operation in progress.
Other
- Tesla Roadster is under development and Tesla close to finalizing its design.
References
- Tesla Just Dropped 15 Game Changing Updates Herbert Ong https://youtu.be/ECIhi2mrbuM?si=Kn7w361FFmRr765I
- Nic Cruz Patane https://x.com/niccruzpatane/status/1849223051038138463
