Tesla Q1: Global Model Y Upgrade Complete, Autonomous Driving Progress on Track
Live Track
Yesterday
1. Tesla completed a global upgrade of all factories for the new Model Y simultaneously, a first in the automotive industry. 2. Q1 vehicle deliveries declined due to factory updates and limited availability of new Model Y for customer experiences. 3. The energy storage business achieved record gross profit despite sequential decline in deployments. 4. Auto margins declined sequentially due to reduced deliveries, lower fixed cost absorption from factory changes, and lower regulatory credit revenue. 5. Full Self-Driving (FSD) capability is improving, with plans for fully autonomous paid rides in Austin by June. 6. Elon Musk predicts Tesla will become the world's most valuable company with successful execution of autonomous vehicles and robots. 7. The company expects to have thousands of Optimus robots working in Tesla factories by year-end, scaling to millions per year by 2030. Disclaimer: This earnings call summary is generated by AI and is for informational purposes only. Due to technical limitations, inaccuracies may exist. It does not constitute investment advice or commitments.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.