Tesla reported a slight rise in adjusted profits for the fourth quarter but still fell short of analysts' expectations as it pushed to boost electric vehicle (EV) sales through various incentives. The company earned $2.6 billion adjusted net income thanks to efforts to lower vehicle prices, with production of more affordable models anticipated soon. CEO Elon Musk announced plans for an unsupervised 'full self-driving' technology launch this June in Austin, marking a pivotal shift from uncertainty to a determined timeline for advancement, as Tesla aims to reclaim lost market share.
Tesla's quarterly net income adjusted for one-time items rose 3% to $2.6 billion, falling short of Wall Street estimates, despite a significant push to boost EV sales.
Musk expressed confidence in the upcoming launch of unsupervised 'full self-driving' technology, marking a progression from theory to a concrete timeline in technology development.
While Tesla's vehicle prices are being driven down with more affordable models expected soon, the company emphasizes that maximizing production volume is a key priority.
Musk indicated he sees a potential path for Tesla to become the world's most valuable company, emphasizing the potential impact of AI and robotics.
Collection
[
|
...
]