"Tesla's first-quarter EV deliveries totaled 358,023, which was up 6% from the same period a year earlier, but marked an underwhelming start to the year, missing consensus estimates of 370,000."
"The company recently discontinued the Model S sedan and Model X crossover to make way for the production of the Optimus robot at its factory in Fremont, Calif."
"Tesla said it expects to reach volume production of the Cybercab and electric Semi in 2026, anticipating greater chip demand than what existing and planned industry capacity can accommodate."
Tesla's Q1 revenue reached $22.4 billion, a 16% increase year-over-year. Net income rose 17% to $477 million, but operating expenses increased by 37% to $3.78 billion, resulting in an operating margin of 4.2%. The company discontinued the Model S and Model X to focus on the Optimus robot. Tesla's EV deliveries totaled 358,023, a 6% increase, but fell short of expectations. Future plans include volume production of the Cybercab and electric Semi by 2026, alongside a partnership with SpaceX for a major chip fabrication facility.
Read at Axios
Unable to calculate read time
Collection
[
|
...
]