Tesla’s Form 10-K filing revealed a number of key details about the electric vehicle maker’s 2023 performance. Among these is Tesla’s growing operations in China, the world’s largest and most competitive electric vehicle market.
The past year represented a number of milestones for Tesla. The company produced 1,845,985 consumer vehicles and delivered 1,808,581 units. It also deployed 14.72 GWh of energy storage products and 223 MW of solar energy systems. Total revenues were listed at $96.77 billion, representing an increase of $15.31 billion year-over-year.

Tesla received $21.75 billion in revenue from its China operations in 2023. That’s about 22.5% of the company’s total revenue. In the fourth quarter alone, Tesla China’s revenue was $6.1 billion, which was higher than the $5.73 billion that was posted in Q2 2023, as per estimates from CNEV Post. Tesla China’s Q4 revenue represented an increase of 33.34% year-over-year an improvement of 21.57% quarter-over-quarter.
In the fourth quarter, China accounted for 24.25% of Tesla’s quarterly revenue. In the third quarter, this number was 21.50%, and in Q4 2022, it was 18.82%. These suggest that while Tesla is constantly faced with an increasing number of competitors in the domestic Chinese market, the company is still seeing some decent revenue growth. These numbers may improve further this 2024 as well, as Tesla produces more vehicles for the domestic Chinese market due to the start of the upgraded Model 3’s production in the Fremont Factory.
Tesla sold about 169,935 units in the domestic Chinese market in the fourth quarter, accounting for about 35% of the 484,507 vehicles that the company was able to deliver worldwide in Q4 2023. Over the course of 2023, Tesla also sold 603,664 vehicles in China, making the country the electric vehicle maker’s second largest market, just after the United States.
For context, Tesla’s revenue in the United States was $45.2 billion for 2023, or 46.7% of the company’s total revenue. Other markets, which include Europe, the Middle East, and other countries in Asia, contributed $29.8 billion in revenue, or about 30.8%.
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Tesla shows off mysterious vehicle at Giga Texas
The mysterious structure, partially unboxed amid construction materials, has sparked widespread speculation among Tesla enthusiasts and analysts. Many are convinced it is the long-rumored Model Y L, the extended-wheelbase variant already popular in China, now arriving in Texas for potential U.S. production.
Tesla seemingly showed off a mysterious vehicle at Giga Texas, one that seems to be completely different than anything the company currently makes for the U.S. market.
The vehicle, which was spotted on the plant’s property, appears to be similar to the Model Y L that has not yet launched in North America, and is currently built at Gigafactory Shanghai in China.
Drone pilot Joe Tegtmeyer captured intriguing footage at Tesla’s Giga Texas on March 23, 2026, revealing what appears to be a large, blue plastic-wrapped vehicle body resting inside a wooden shipping crate outdoors.
Well this is interesting at Giga Texas today … what do YOU think this is? 🤔😎 pic.twitter.com/U9pLvqbf7L
— Joe Tegtmeyer 🚀 🤠🛸😎 (@JoeTegtmeyer) March 23, 2026
The mysterious structure, partially unboxed amid construction materials, has sparked widespread speculation among Tesla enthusiasts and analysts. Many are convinced it is the long-rumored Model Y L, the extended-wheelbase variant already popular in China, now arriving in Texas for potential U.S. production.
The images show an elongated silhouette that stands out from standard Model Y bodies. Side-by-side comparisons shared in replies to Tegtmeyer’s post highlight key differences: the rear door extends farther over the wheel arch than on a regular Model Y, and the rear glass appears to run all the way to the spoiler lip without the metal trim seen on shorter versions.
One overlay analysis noted that the visible proportions align precisely with the Chinese-market Model Y L, which measures approximately 4.98 meters long with a 3.04-meter wheelbase, which is about seven inches longer overall than the standard Model Y sold in the U.S.
Model Y L, with a support structure on top, likely for shipping. pic.twitter.com/ET3w46DjpJ
— Owen Sparks (@OwenSparks) March 23, 2026
The vehicle is a bare “body-in-white” shell, typical of prototypes sent abroad for tooling validation and local manufacturing ramp-up. Tesla has already launched the six- and seven-seat Model Y L in China and other markets, where it offers roughly 10% more cargo space and greater family-friendly versatility.
This sighting fits Tesla’s broader strategy. Industry observers expect the company to localize Model Y L production at Giga Texas by mid-2026 to serve American families seeking extra room without stepping up to the larger Cybertruck or a future full-size SUV.
Bringing the design stateside could add tens of thousands of annual deliveries while leveraging existing Model Y lines. People have been adamant that they want the Model Y L in the U.S., especially as Tesla plans to fade the Model X, the company’s most ideal vehicle for large families, out of production in the near future.
Tesla Model Y lineup expansion signals an uncomfortable reality for consumers
While Tesla has made no official comment, the timing, amid Giga Texas expansion and steady Model Y output, suggests the mysterious crate is more than a random prototype.
If confirmed as the Model Y L, it marks another step in Tesla’s effort to refresh its bestselling SUV for global demand. The vehicle would perform exceptionally well in the U.S., and despite the company’s rather mute stance on bringing it to America, this might be the biggest hint to date that it could be on the way.
Cybertruck
Tesla Cybertruck just won a rare and elusive crash safety honor
Only the most outstanding of performances in crash tests can warrant an IIHS Top Safety Pick+ award, as vehicles listed with that ranking must achieve “Good” ratings in the small overlap front, updated side, and updated moderate overlap front tests, along with “Acceptable” or “Good” headlights standard on all trims.
Tesla Cybertruck landed a rare and elusive safety honor from the Insurance Institute for Highway Safety (IIHS). It was the only pickup truck in the U.S. market to do so.
The IIHS rewarded the Cybertruck with the Top Safety Pick+ honors, the highest marks a vehicle can receive from the agency.
Only the most outstanding of performances in crash tests can warrant an IIHS Top Safety Pick+ award, as vehicles listed with that ranking must achieve “Good” ratings in the small overlap front, updated side, and updated moderate overlap front tests, along with “Acceptable” or “Good” headlights standard on all trims.
🚨 Absolutely insane.
Tesla Cybertruck was the ONLY pickup on the market to be awarded a Top Safety Pick+ rating by the IIHS
The safest rating out there belongs to Cybertruck 📐 pic.twitter.com/Y8gLOqaL0d
— TESLARATI (@Teslarati) March 24, 2026
Cybertruck was the only truck to also win an NHTSA Five-Star Safety rating, making it the only pickup available on the market to be recognized with top marks from both agencies.
There are a multitude of options for pickups in the U.S. market, as it is one of the most popular vehicle types for consumers in the country. Pickups are great vehicles for anyone who does any sort of hauling or is just looking for extra space for any variety of reasons.
Pickups are also inherently safer than other body types on the road, mostly because they are larger and heavier, making them more favorable against other vehicle types in the event of a collision. However, Tesla has a significant advantage in safety with its vehicles because it engineers them to not only be safer in collisions, but also easier to repair.
The Cybertruck managed to achieve “Good” ratings, the highest marks available by the IIHS, in all three Crashworthiness categories, as well as “Good” ratings in both Crash Avoidance and Mitigation assessments.
It also received “Good” ratings across all driver and pedestrian crash-test performance metrics, except for one, where it earned an “Acceptable” rating for rear passengers in the Chest category.
The Cybertruck’s outstanding crash test performance has won it this incredible mark as the pickup still tends to be one of the more polarizing vehicle designs on the market.
It is no secret that Tesla has struggled with demand of the Cybertruck due to pricing, but the recent rollout of a trim that was temporarily priced at just $59,990 showed plenty of people want the all-electric pickup.
Elon Musk
Elon Musk’s Boring Co. Tunnel Vision Challenge ends with a surprise for Louisiana, Maryland and Dallas
The Boring Company stunned three cities today, awarding New Orleans, Baltimore, and Dallas free underground Loop tunnels.
Elon Musk’s The Boring Company (TBC) announced today that it is building free underground Loop tunnels in three American cities: New Orleans, Louisiana; Baltimore, Maryland; and Dallas, Texas. The company had promised one winner when it launched the Tunnel Vision Challenge in January. After receiving 487 submissions, it selected three, committing to fund and construct all of them pending a feasibility review, entirely at its own expense. For a company that has faced years of skepticism over the gap between its promises and its delivered projects, choosing to expand its commitment rather than narrow it is a notable shift in both scale and accountability.
All three projects will now enter a rigorous, fully funded diligence phase that includes meetings with elected officials, regulators, community and business leaders, geotechnical borings, and a complete investigation of subsurface utilities and infrastructure. TBC confirmed that all costs associated with this diligence process are 100% funded by the company. If all three projects pass feasibility, all three get built. If only one clears the bar, that one gets built. The company’s willingness to fund the due diligence regardless of outcome removes one of the most common early-stage barriers that kills promising infrastructure proposals before they leave a spreadsheet.
Beyond the three winners, TBC announced it will continue working with two additional entrants it found compelling enough to pursue independently: the Hendersonville Utility Tunnel in Hendersonville, Tennessee, and the Morgan’s Wonderland Tunnel in San Antonio, Texas, which would notably serve one of the nation’s premier theme parks built specifically for guests with special needs.
The challenge also coincides with TBC’s most active construction period to date. The company recently began drilling on the Music City Loop near the Tennessee State Capitol in Nashville, and in February it broke ground on a Loop in Dubai. Musk has long argued that the fundamental problem with urban infrastructure is cost and bureaucratic inertia, not engineering. “The key to solving traffic is making going 3D either up or down,” he said in 2018, a conviction now reflected in a company structure built to absorb the financial risk that typically stalls public projects for years.
Music City Loop could highlight The Boring Company’s real disruption
The Tunnel Vision Challenge’s most underappreciated element may be what it produced beyond three winners. Submissions came from individuals, companies, and governments across states including Alaska, Arkansas, Colorado, Kansas, Louisiana, Maryland, New York, and Texas, as well as from international entrants. Musk captured the underlying logic years ago when he said, “Traffic is driving me nuts. I’m going to build a tunnel boring machine and just start digging.” Today, three American cities are counting on exactly that.
Tunnel Vision Challenge results!
We’ve been overwhelmed with the amazing submissions…so we are announcing three winners!
The Thrilling Three are:
– NOLA Loop (New Orleans, LA)
– Ravens Loop (Baltimore, MD)
– University Hills Loop (Dallas, TX)What happens next? TBC and the… https://t.co/cY2ULftfiK
— The Boring Company (@boringcompany) March 24, 2026