Tesla (TSLA) conducted its Q4 and full-year 20234 Earnings Call on Wednesday. CEO Elon Musk and other top executives from the company joined the call for an investor and media Q&A session.
Elon Musk focused on the automaker’s Autopilot Full Self-Driving (FSD) technology for the most part of the opening remarks of the Q4 2024 Tesla earnings call (listen below).
The vibrant CEO of Tesla provided interesting updates and the future outlook on FSD development during the call. Musk attributed the progress on the FSD horizon made last year as 10x improvement. If you tried FSD (Supervised) a while back let’s say on Version 12, you should give the latest Version 13 a try — there’s a monumental difference in self-driving experience.
“The only people who are skeptical are those who have not tried it,” Elon Musk said in his opening remarks.
Tesla Q4 2024 Earnings Call: Key Takeaways
- Tesla has achieved an annualized vehicle production rate of 2 million vehicles
- Tesla Energy demonstrated massive growth in 2024
- Model Y electric SUV became the best-selling car in the world (EV and ICE included)
- The automaker is doubling down its efforts in vehicle autonomy (Autopilot FSD) and getting 10x the results
- Last year, Tesla made many critical investments in manufacturing AI and robotics (Tesla Robot) that the automaker expects immense returns in the future
- Elon Musk sees a path for Tesla that will make it the world’s most valuable company
- Although this is a difficult path it is an achievable path, according to Musk
- According to Musk, Tesla (TSLA) will be worth more than the next top 5 companies combined
- This growth is tied to the success of achieving full autonomy and the Optimus humanoid robots
- Tesla plans to build roughly 10,000 Optimus this year
- First application of Tesla Optimus humanoid robots will be in Tesla factories
- In 2024 and 2025 Tesla is focusing on building the structure and manufacturing lines for its cars, robots, and AI GPU clusters like Cortex at Giga Texas.
- After the infrastructure and groundwork is completed this year, Musk predicted that 2026, 2027, and 2028 will be Tesla’s best years in terms of massive growth
- According to Tesla CFO Vaibhav Taneja, accumulated AI-related CapEx, including infrastructure, so far has been approximately $5 billion and for 2025, we expect our CapEx to be flat on a year-over-year basis
- People are used to seeing linear growth but Tesla will grow exponentially
- Overall, Elon Musk seemed confident that Tesla will soon achieve Unsupervised Full Self-Driving
- On average, vehicles are used 10 hours out of 168 in a week. Musk predicted that this usage would increase 5x to around 50 hours a week after achieving full autonomy
- Tesla vehicles will work late hours as ridesharing taxis and even for cargo deliveries in various scenarios
- This application will result in the greatest asset value increase in the history, Elon Musk predicted
- “The reality of autonomy is upon us,” said Musk
- Tesla expects to launch Unsupervised FSD in Austin, Texas in June 2025
- He also hinted that there’s interest in FSD licensing by some major automakers
- Elon Musk feels confident that Unsupervised FSD will also be launched in California this year
- “And I repeat my advice, try driving the car or let it drive you,” Elon Musk explained the paradigm shift of both situations
- Autopilot FSD works well in the US for now, it will get better in other regions with time as AI constantly learns through massive global data input by Tesla vehicles around the world
- “Our Q4 vehicle safety report shows continued year-over-year improvement in safety for vehicles. So the safety numbers, if somebody has — supervises driving turn on or not, the safety differences are gigantic,” said Elon Musk
- “Optimus has the potential to be north of $10 trillion in revenue, like it’s really bananas,” Musk explained why even $500 billion of spending on training compute is actually worth it in terms of ROI
- Tesla is building a second Megapack Megafactory in Shanghai, China after Lathrop, California. Musk hinted that Tesla is also building a 3rd Megafactory but did not mention the location
The impact of Tesla’s Q4 2024 Earnings Call was positive on the company’s stock price. The next day (Thursday 30th Jan), Tesla’s share price increased by +$11.18(2.87%) and closed at $400.28.
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 CEO Elon Musk delivered a successful Q4 2024 Earnings Call that positively impacted the investors of the company. Listen and read what he said on FSD, robots, and more.){kind=link}