Tesla is experiencing a 16 percent decline in automotive revenues, the worst drop in over a decade, as tax incentives are reduced. Elon Musk notes the company may go through 'a few rough quarters' while struggling to reassure investors after shares fell following earnings reports. Plans to pivot towards humanoid robots and a robotaxi service are underway, but production bottlenecks jeopardize the goal of producing over a million humanoid robots by decade's end, raising doubts on Musk's ambitious targets and the company's valuation potential.
Tesla has reported a significant 16 percent drop in automotive revenues, marking the largest decline the company has faced in over a decade due to diminishing tax incentives and regulatory credits.
Musk acknowledged facing 'a few rough quarters' ahead and expressed concern over Tesla's dwindling car sales, following a disappointing earnings call that resulted in a plummet of the company's shares.
Despite unfortunate earnings, Musk is pushing forward new plans for humanoid robots and a robotaxi service, though early signs show the company is years away from meeting expectations.
Production bottlenecks are hindering Tesla's ability to fulfill its ambitious targets, including Musk's goal of producing over a million Optimus robots per year by the decade's end.
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