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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Investor's Corner
Tesla ‘Model Q’ gets bold prediction from Deutsche Bank that investors will love
Tesla’s Model Q could be on the way soon, and a new note from Deutsche Bank thinks it will contribute to Q4 deliveries.

The Tesla “Model Q” has been in the rumor mill for the company for several years, but a recent note from Wall Street firm Deutsche Bank seems to indicate that it could be on its way in the near future.
This comes as Tesla has been indicating for several quarters that its development of affordable models was “on track” for the first half of 2025. The company did not say it would unveil the vehicles in the first half, but many are anticipating that more cost-friendly models could be revealed to the public soon.
Potential affordable Tesla “Model 2/Model Q” test car spotted anew in Giga Texas
The Deutsche Bank note refers to one of the rumored affordable models as the “Model Q,” but we’ve also seen it referred to as the “Model 2,” amongst other names. Tesla has not officially coined any of its upcoming vehicles as such, but these are more of a universally accepted phrase to identify them, at least for now.
The rumors stem from sentiments regarding Tesla’s 2025 delivery projections, which are tempered as the company seeks to maintain a steady pace compared to 2023 and 2024, when it reported 1.8 million deliveries.
Deutsche Bank’s analysts believe the deliveries could be around 1.58 million, but they state this is a cautious stance that could be impacted by several things, including the potential launch of the Model Q, which they believe will make its way to market in Q4:
“Looking at the rest of the year, we maintain a cautious stance on volume calling for 1.58m vehicle deliveries (-12% YoY) vs. consensus +1.62m, with the timing of Model Q rollout as the key swing factor (we now assume only 25k in Q4). In China, Tesla will introduce the Model Y L this fall (6 inch longer wheel base allowing for larger 3-row seating with six seats).”
Interestingly, the same firm also predicted that the Model Q would launch in the first half of the year based on a note that was released in early December 2024.
Those estimations came from a reported meeting that Deutsche Bank had with Tesla late last year, where it said it aimed to launch the Model Q for less than $30,000 and aimed for it to compete with cars like the Volkswagen ID.3 and BYD Dolphin.
Tesla’s Q2 Earnings Call is slated for this Wednesday and could reveal some additional details about the affordable models.
Elon Musk
Tesla preps to expand Robotaxi geofence once again, answering Waymo
Just days after Waymo responded to them, Tesla is preparing for a potentially massive expansion of the Robotaxi geofence.

Tesla is preparing to expand its Robotaxi geofence yet again, just days after Waymo responded to its initial broadening of the area.
Tesla launched its first expansion last week, less than a month after introducing Robotaxi rides in Austin.
The company opted for a very interesting shape for its geofence expansion, which was more of an indication that it could launch more rides in virtually any area of the city due to the new geofence it chose.
Waymo then responded to Tesla shortly after with an expansion of its own. After Tesla’s first expansion of its geofence, it had 42 square miles of Robotaxi-accessible travel region. This was larger than Waymo’s 37 square miles.
However, the Waymo expansion last week brought the company to a substantial 90 square miles of Austin:
Waymo responds to Tesla’s Robotaxi expansion in Austin with bold statement
Tesla appears to be ready to respond. Drone operator and Gigafactory Texas observer Joe Tegtmeyer spotted Tesla Robotaxi validation vehicles well west of downtown Austin in the area of Marble Falls, Texas.
This would significantly increase Tesla’s square mileage if it could manage to bring its geofence to that size:
🚨 We could see Tesla’s response to Waymo’s expansion in Austin very soon
Based on Tesla’s expansion last time, it’s safe to assume they can go to any area of Austin whenever they choose
It’s not a coincidence they chose, well, you know, the shape they did 🤣 https://t.co/xB92SQ1ntC
— TESLARATI (@Teslarati) July 19, 2025
The two companies are not directly responding to one another with these expansions, but it appears that there is a significant amount of competition underway, which ultimately benefits the consumers.
Waymo has been operating in Texas since March from a fully public perspective, while Tesla is still slowly expanding its test size for the Robotaxi fleet on a nearly daily basis. Tesla launched Robotaxi rides to a handful of Early Access Program members on June 22.
Tesla is also expanding to other regions of the United States, particularly in Arizona and California. However, the Texas expansion is a priority currently, as it is the only region where Tesla has received approval to operate passenger rides in a driverless setting in the country.
Elon Musk
Elon Musk confirms awesome new features at Tesla Diner Supercharger
More details continue to be revealed about the Tesla Supercharger Diner as its opening seems to be imminent.

Elon Musk has confirmed a few new features that will be present at the Tesla Diner Supercharger in Los Angeles.
Musk confirmed these two new details as he revealed he recently ate at the Supercharger Diner. We also recently confirmed a few menu items as a soft launch has already occurred, and a public launch date appears to be within reach.
The new features were revealed by Tesla Joy on X. We shared the details, and Musk confirmed that these are, in fact, features of the Diner that Tesla owners will be able to enjoy.
Tesla reveals key detail of Supercharger Diner, but it’s bigger than you think
The Diner is not exclusive to Tesla owners, but these two features do require a Tesla for compatibility purposes.
Order Food from Your Car
As you pull into the Supercharger Diner, you can order any food item you want, including burgers, wings, fries, shakes, cookies, and more, directly from your vehicle.
A prompt will likely appear that will open a menu to the Supercharger Diner, allowing you to order food. An employee will bring the food out, that is, if Tesla decides to continue with a true and traditional 50s diner theme.
We get it, it’s not a groundbreaking feature. It’s still cool, convenient, and another advantage to visit the diner as a Tesla owner.
Movie Screen Audio Will Sync to Your Tesla
There are two massive movie screens that will play various entertainment options during your visit to the Supercharger Diner. There have been movie clips and even SpaceX launch highlights playing during recent drone flyovers at the location on Santa Monica Boulevard.
Instead of having to open your windows to hear the content on the screen, it will instead sync the audio and play directly in your vehicle through your car stereo speakers.
True
— Elon Musk (@elonmusk) July 18, 2025
The Supercharger Diner has also appeared on the Tesla app for the first time, and is currently showing 80 stalls at the location:
🚨 The Tesla Diner is now showing up on the phone app.
80 Superchargers!!! pic.twitter.com/fdN2MzyZCg
— TESLARATI (@Teslarati) July 18, 2025
Although the stalls are not yet active, the culmination of all the details we’ve learned over the past week about the Diner only points to one thing: an imminent grand opening.
Tesla has not yet confirmed a date for the Supercharger Diner’s opening, and Los Angeles building and construction permits also do not state a specific target date for opening.
It seems as if Tesla will reveal the date itself, potentially in the coming week, as it will report earnings on Wednesday, July 23.
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