Tesla’s (NASDAQ:TSLA) Q4 and FY 2024 earnings call comes on the heels of the company’s Q4 and FY 2024 Update Letter, which was released after the closing bell on January 29, 2025.
Tesla’s Q4 2024 results:
- Earnings Per Share (GAAP): $0.66 per share
- Earnings Per Share (Non-GAAP): $0.73 per share
- Operating Income: $7.1 billion GAAP; $7.1 billion GAAP net income in 2024; $2.3 billion in Q4 including $0.6 billion mark-to-market gain on digital assets.
- Total Revenues: $25.7 billion
- Total Automotive Revenues: $19.80 billion
Q4 & FY 2024 Earnings Call at 4:30pm CT today https://t.co/uFCg69a6tN— Tesla (@Tesla) January 29, 2025
The following are live updates from Tesla’s Q4 and FY 2024 earnings call. I will be updating this article in real-time, so please keep refreshing the page to view the latest updates on this story. The first entry starts at the bottom of the page.
17:41 CT – And that closes Tesla’s Q4 and FY 2024 earnings call! Thanks so much for joining us, and see you next quarter!
17:40 CT – Dan Levy of Barclays asks about Trump’s anti-EV mandate and Elon Musk’s view on it. The CEO noted that at this point, sustainable transport is inevitable. “At this point I think sustainable transport is inevitable. You can’t stop the advent of electric cars. It’s gonna happen. The only thing holding back electric cars is range, and that is a solved problem,” Musk said.
17:37 CT – Pierre Ferragu of New Street Research asked about Tesla’s plans to deploy robotaxis on June. He wonders if he can drive down to Texas in June to test it. Musk said sure, and at the time, Tesla would be using its own fleet for its initial autonomous ride-hailing program. Cars won’t be from individual owners.
Musk also predicts that Tesla owners will be able to add car their cars to the robotaxi fleet by next year.
Tesla is also working toward FSD Unsupervised which will allow people to check their emails, texts, etc., while the vehicle is in motion, but the company is very cautious. Tesla has seen that people are turning off FSD Unsupervised to check their texts.
17:30 CT – Adam Jonas of Morgan Stanley asked if Elon Musk still does not believe in Lidar. Elon Musk says he still does not. “Obviously, humans drive without shooting lasers out of their eyes,” Musk joked. He also explained that he is not anti-Lidar per se. He’s just anti-Lidar when it comes to autonomous cars.
17:25 CT – As for FSD in China, Musk noted that training videos in China cannot be exported out. Tesla figuring out how to train FSD Unsupervised in China. One of the challenges is bus lanes, which are very complex in China.
“Hopefully, we can have Unsupervised FSD in other countries next year,” Musk said.
17:18 CT – Analyst questions start with Bernstein. He asks Elon Musk about what he is doing to push Tesla’s management team to accelerate the company’s programs. Musk noted that Tesla is working on perfecting real-world AI. “I spend a lot of time with the Tesla AI team and the Tesla Optimus team,” he said.
Musk noted that there are many challenges with Optimus and vehicle autonomy, but the pieces are there. He predicts Europe will be a challenge for FSD Unsupervised. FSD Unsupervised is expected to be presented to the EU in the Netherlands in May, with a release probably next year.
17:15 CT – A question about HW3 vehicles was asked. Tesla noted that the company is not giving up on HW3. Tesla is still working on HW3 but updates will trail HW4 releases.
“We are going to have to upgrade Hardware 3 for people who bought FSD. That’s the honest answer. It’s going to be painful and difficult but that’s what we’re going to have to do,” Musk admitted.
Another question was asked if Tesla has given up on Solar Roof. Tesla noted that it has not. Musk noted that Tesla has found growth by distributing Solar Roof to the roofing industry.
17:14 CT – Another question is asked, this time about the Tesla Semi and how it will affect revenue and scale. Tesla noted that preparations for production are ongoing, and that production is expected to start late this year from Reno. He also thinks the Semi will be incredibly valuable with FSD Unsupervised.
Musk noted that the United States actually has a shortage of truck drivers. And truck drivers are human, so they get tired. “I have a lot of respect for truck drivers, because it’s a tough job,” Musk said.
He noted that more people are leaving trucking than those entering it. With this in mind, autonomy is extremely important. “It’s a several billion-a-year opportunity,” Musk said. That said, the CEO also noted that “all of this is gonna pale in comparison to Optimus.”
17:10 CT – Musk reiterated that Optimus will be used at Tesla factories first, doing tedious tasks that no one wants to do.
Optimus production Version 2–maybe starting mid-next year–will be designed for 10,000 units a month vs 1,000 units a month. Version 3 is for 100,000 units per month, and with Version 2, Optimus robots may be delivered to other companies.
“Demand will not be a problem, even at a high price,” Musk said. He also noted that at one million units per year, Optimus’ production costs will be around or less than $20,000.
17:04 CT – Another investor question asked if Optimus is designed locked. Musk noted that Optimus is not design-locked at all. However, the CEO noted that “it is rapidly evolving in a good direction.” Musk also noted that other companies are missing real-world AI and manufacturing capabilities.
17:03 CT – The next investor question asked if other carmakers are interested in licensing FSD. Elon Musk confirmed that yes, they are. “What we’re seeing is at this point is significant interest in licensing FSD,” the CEO noted. But before FSD is licensed, Tesla has to reach unsupervised FSD first.
17:01 CT – Investor questions begin. The first is about unsupervised FSD’s release. Musk noted that he believes unsupervised FSD in California and Texas this year, with many more regions at the end of 2025.
“We’re looking for a safety level that is significantly safer than a human driver,” Musk said. “The only thing holding us back is an excess in caution,” Musk said.
17:00 CT – The CFO noted that Tesla’s growth came from Megapack and Powerwall. Both continue to be production-constrained, which will hopefully be relieved by China, whose Shanghai Megafactory is producing Megapacks. Tariffs, however, are very likely, Tesla’s CFO noted.
16:58 CT – Tesla’s CFO takes the stage. He credits the Tesla team for its performance in Q4. He also discussed some milestones, such as record deliveries in the Greater China market, which is extremely competitive.
Cost reduction continues as well, despite increased depreciation and other costs as the company prepared for the new Model Y. Overall cost per car now down below $35,000.
The new Model Y will be produced in all factories supporting the vehicle starting next month. This is unprecedented in Tesla history.
He notes that Tesla is also on track to release a more affordable model in the first half of 2025, and there will be more models from there.
16:54 CT – Elon Musk predicts increased demand in energy business. That said, he does admit that Tesla always has to allocate its battery supply. “2025 is really a pivotal year for Tesla. It might be viewed as the most important year in Tesla history,” Musk said.
16:50 CT – Elon, however, admitted that he’s making insane predictions. He cautions that his predictions aren’t necessarily precise. That said, the target is to make 10,000 Optimus robots this year. Elon is confident that Tesla can produce a few thousand this year, with a goal to ramp Optimus production every year.
Optimus’ capabilities are expected to be very impressive. Musk notes that Optimus would be able to play the piano or thread a needle. That’s how precise its hands would be. “Optimus will be able to play the piano and be able to thread a needle,” Musk said.
16:48 CT – Tesla expects to launch Unsupervised FSD as a service in Austin in June. Musk noted that Tesla’s unsupervised FSD system is already working very well in the company’s factories.
“The cars aren’t just driving to the same spot. The cars are programmed to a lane” or a destination parking spot for pick up from customers. Teslas will be in the wild–with no one in them–in Austin in June,” Musk said.
16:45 CT – Musk noted that Tesla’s current constraints are battery packs for now. “Things are going to ballistic next year…and ’27, and ’28,” he said.
Musk also stated that the training needs for the Optimus robot is 10x what’s needed for a car. A humanoid robot, however, probably has 1000 more uses than a car.
“We live at this unbelievable inflection point in history,” Musk said.
16:40 CT – “I know I’ve been called the boy who cried wolf. I’m telling you, there’s a damn wolf this time. It can drive you,” Musk joked, discussing FSD and his past failed predictions about when unsupervised FSD will be ready.
He also highlighted that while FSD behaved like a neophyte driver before, it won’t be like that forever.
“The only people who are skeptical are those who haven’t tried it (FSD),” he said. He also highlighted the potential of the Tesla Network. “It works fine in the US, and of course, it will work just well anywhere else. The reality of autonomy is upon us,” Musk added.
16:38 CT – Elon takes the stage. He states that Tesla ended the year with a run rate of 2 million cars per year. The Model Y was the world’s best-selling car again in 2024. He shares an optimistic outlook on Tesla’s autonomy program.
“Autonomy is 10X-ing,” Musk said, adding that he still sees a path toward Tesla becoming the world’s most valuable company by a mile. “There’s a path to that,” he said.
Musk noted that Tesla laid the groundwork for autonomous cars and robots in 2024, and these efforts will continue in 2025. “This will set up what I think will be an epic 2026 and a ridiculously good 2027 and 2028,” Musk said.
16:34 CT – Here we go! Tesla’s IR announces that Tesla CEO Elon Musk and a number of executives are present at the call.
16:30 CT – It’s time! It won’t be surprising if Tesla starts a bit late. That being said, there will probably be quite a number of interesting discussions in this call.
Just recently, Tesla posted the first video of its FSD Unsupervised system working in the Fremont Factory. That’s a very big deal.
16:25 CT – Hello, and happy earnings day to everyone! Tesla missed some of Wall Street’s expectations, but TSLA stock seems to be doing pretty well in today’s after-hours. It’s up about 2.3% as of writing.
As always, this might be a very interesting earnings call.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
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Tesla Cybercab is coming to Asia this month as US service officially begins
Tesla Asia says Cybercab will be on display in Hong Kong, Tokyo, Beijing and Shanghai this month.
Tesla’s Cybercab is heading to Asia. The official Tesla Asia account posted on X Thursday, inviting Cybercab fans to “Come experience the future of autonomy in Hong Kong, Tokyo, Beijing & Shanghai.” The post went up within hours of Tesla’s own Cybercab milestone in Texas, where the company said Thursday it had begun offering rides in across Austin.
Exact dates and venues for the Asia tour haven’t been released yet, though Tesla Hong Kong replied to the announcement with “Cybercab will be on display in Hong Kong soon,” while Tesla Japan’s response pointed fans to a sign up page for updates. Neither post mentions test rides or a service area, and nothing so far suggests Tesla is launching Robotaxi operations in any of the four cities. Based on how Tesla has run past Cybercab tours, in Europe in late 2024 and at US shopping centers that same December, the Asia stops are almost certainly static displays at Tesla stores or public venues as a means to stimulate buzz for its future driverless ride-hailing service in the big cities.
Cybercab will be on display in Asia this month!
Come experience the future of autonomy in Hong Kong, Tokyo, Beijing & Shanghai. pic.twitter.com/wGmmEastfX— Tesla Asia (@Tesla_Asia) September 4, 2026
The timing lines up with Tesla’s only prior Cybercab appearance in the region, a booth at the China International Import Expo in Shanghai last November, which Teslarati covered at the time. At that event, Tesla’s regional general manager for Shanghai framed the car as evidence of the company’s broader mission, a message Tesla has since formalized in its Master Plan Part IV, which states that “autonomous vehicles have the capacity to dramatically improve the affordability, availability and safety of transportation while reducing pollution, particularly in our increasingly dense global cities.” The same document is where Tesla lays out its “sustainable abundance” framing for Cybercab and Optimus alike, describing the two as the hardware behind an AI driven push to cut the cost of transportation and labor at scale.
Whether Cybercab actually operates as a robotaxi anywhere in Asia remains an open question, considering China has already pushed an autonomous ride-hailing market that’s run on homegrown players like Baidu’s Apollo Go and Pony AI. For now, the four city tour reads as a marketing push timed to Austin’s momentum.
Elon Musk
OpenAI cites distrust of SpaceX in decision to drop Cursor partnership
OpenAI will cut SpaceX-owned Cursor’s model access in November, citing Musk’s history of broken contracts.
OpenAI, the company behind ChatGPT, announced late Friday that it is ending its partnership with Cursor, cutting off the coding tool’s access to its models on November 12. The move comes two weeks after SpaceX completed its $60 billion acquisition of Cursor’s parent company, Anysphere, folding the popular AI coding assistant into Elon Musk’s growing SpaceXAI division.
In a post on its website, OpenAI said the decision came down to trust, not technology. “We cannot be confident that SpaceX will use our technology within our terms of service, based on our experience with Elon Musk’s companies violating contracts,” the company wrote. OpenAI pointed to two specific incidents: X, now part of SpaceX, allegedly breaking the terms of an existing OpenAI contract after Musk bought Twitter.
That lawsuit is the backdrop for all of this. Musk cofounded OpenAI in 2015, left the board in 2018, and sued Sam Altman and Greg Brockman in 2024, arguing they abandoned the company’s nonprofit mission for profit. A federal jury sided with OpenAI in May, finding Musk waited too long to sue rather than ruling on the merits of his claims. Musk said at the time he would appeal to the Ninth Circuit, calling the outcome a “calendar technicality” rather than a real judgment.
SpaceX’s interest in Cursor predates that verdict by weeks. The company first struck a deal with Cursor in April, securing an option to acquire it for $60 billion or pay $10 billion for joint development work instead. As Teslarati reported at the time, the logic was straightforward: Cursor was paying retail prices to Anthropic and OpenAI, two of its most direct competitors, every time a developer used its product, while SpaceX had idle capacity on its Colossus supercomputer, roughly the equivalent of a million Nvidia H100 GPUs, that Cursor could use to train its own models instead. SpaceX exercised the option in June, days after its own IPO, and the deal closed in mid-August.
Once it closed, Musk moved fast. On an all-hands call with more than 1,000 Cursor employees, he reportedly told staff that SpaceXAI’s Grok was playing catchup in the AI race, unlike Tesla and SpaceX in their own markets, and singled out Anthropic as the company to catch. Cursor CEO Michael Truell now reports directly to Musk inside SpaceXAI.
Losing OpenAI’s models leaves Cursor leaning harder on Anthropic’s Claude, which has its own compute agreement with SpaceX, and on Cursor’s in-house Composer model, the one SpaceX’s compute was supposed to accelerate in the first place. OpenAI framed the November deadline as maximum notice under its contract, and said it wants to “go above and beyond” to help developers through the transition. Whether Anthropic makes the same call is now the open question in AI coding.
Investor's Corner
Tesla Robotaxi gets a massive upgrade in Nevada
Nevada regulators just approved a massive expansion of Tesla’s robotaxi fleet across the entire county.
Tesla’s robotaxi footprint in Nevada just grew by roughly 500 times in a single regulatory vote.
The Nevada Transportation Authority approved Tesla’s full Autonomous Vehicle Network Company permit on Thursday, clearing the way for the company to deploy up to 5,000 driverless vehicles across Clark County over the next 12 months. The decision came during a four hour general session meeting that Tesla investor Sawyer Merritt watched live and reported on X, noting the vote replaces the interim order that had limited Tesla to just 10 robotaxis on a narrow stretch of the Las Vegas Strip.
EXCLUSIVE: Tesla has just officially received approval for its full Autonomous Vehicle Network Company permit in Nevada, clearing the way for Tesla to launch a paid public Robotaxi service in Las Vegas.
This officially allows @Tesla to deploy up to 5,000 robotaxis over the next… pic.twitter.com/DPs5UtUlrE
— Sawyer Merritt (@SawyerMerritt) August 20, 2026
That earlier cap, covered here after it surfaced on August 13, came with restrictions that looked stricter than what Tesla runs in Austin: a 45 mph speed ceiling, no airport pickups, and a geofence confined to the Strip corridor. The new approval extends Tesla’s operating authority to all of Clark County, with room to request an even wider geofence across the state.
Tesla representatives at the meeting said they have no intention of putting 5,000 cars on the road right away. Commercial rides are expected to start within 30 days, pending vehicle inspections, insurance filings, and fare approval, the standard steps every robotaxi operator in Nevada has had to clear.
Tesla’s own Robotaxi account replied to the news with a short line, The golden future is upon us.
The timing lines up with Tesla’s broader robotaxi push this month. The company is preparing to open Cybercab rides to the public in Austin as soon as this month, and it opened a sweepstakes for riders to win a seat at the launch event. Tesla filed its original application for a 5,000 vehicle Nevada fleet back in June, a request regulators trimmed to 10 vehicles when they issued the interim order in July. Thursday’s vote effectively grants the number Tesla asked for from the start.
Zoox, the Amazon owned robotaxi operator, has run in Nevada since 2025 and was capped at 100 vehicles before Thursday’s decision. Tesla’s new ceiling puts it well ahead of that comparison on paper, though the company has said its actual fleet size will depend on how quickly FSD v15 rolls out, the software update executives have called the gateway to scaling unsupervised robotaxi operations nationwide.
Tesla crosses major Unsupervised Self-Driving milestone
Tesla Robotaxi will be a 24/7 service: here’s when
