Tesla, Inc. (TSLA) Q4 2024 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, everyone and welcome to Tesla's Fourth Quarter 2024 Q&A Webcast. My name is Travis Axelrod, the Head of Investor Relations here at Tesla, and I am joined today by Elon Musk and Vaibhav Taneja and a number of other executives. Our Q4 results were announced at about 3.00 p.m. Central Time in the update deck we published at the same link as this webcast.

During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. During the question-and-answer portion of today's call, please limit yourself to one question and one follow-up. Please use the raise hand button to join the question queue.

Before we jump into Q&A, Elon has some opening remarks. Elon?

Elon Musk

Thank you. So, in summary, in Q4, we set a record and delivered vehicles at an annualized rate of nearly 2 million a year. So, congratulations to the Tesla team on excellent work, achieving record production and deliveries. Model Y was the best-selling vehicle of any kind for 2024. That's worth noting. Not just the best electric vehicle, the best vehicle of any kind on earth, number one was Model Y. We're staying focused on maximizing volumes and obviously doubling down for, I don't know what, it really, I was going to say doubling down on autonomy, but really it's like autonomy is like 10x-ing. Frankly, doubling is not even enough.

We made many critical investments in 2024 in manufacturing AI and robotics that will bear immense fruit in the future, immense. Like it's, in fact, to such a scale that it is difficult to comprehend. And I've said this before, and I'll stand by it. I see a path, I'm not saying it's an easy path, but I see a path for Tesla being the most valuable company in the world by far, not even close. Like, maybe several times more than, I mean, there is a path where Tesla is worth more than the next top five companies combined. There's a path to that. I mean, I think it's like an incredibly, just like a difficult path, but it is an achievable path. So -- and that is overwhelmingly due to autonomous vehicles and autonomous humanoid robots. So, our focus is actually building towards that. And that's where we're laying the ground. We laid the ground work for that in 2024. We'll continue to lay the ground work for that in 2025. In fact, more than laid the groundwork actually, so it would be building the structure, it’d be we're building the manufacturing lines and like -- like, setting up for what I think will be an epic 2026 and a ridiculous ‘27 and ‘28. Ridiculously good. That is my prediction.