Record cash flow and strong energy margins…

• Operating cash flow: A record $6.3 billion in the third quarter.

• Automobile sales: Growth both quarter-on-quarter and year-on-year.

• FSD turnover: $326 million from Cybertruck and other features.

• Revenue from regulatory credits: Over $2 billion year-to-date.

• Automotive margins: Improved compared to the previous quarter.

• Energy margins: Record value of over 30% in the third quarter.

• Operating costs: Declining quarter-on-quarter and year-on-year.

• Investment costs: $3.5 billion in the third quarter, with full-year expectations of over $11 billion.

Release date: October 23, 2024

For the full transcript of the conference call, please see the full conference call minutes.

• Tesla Inc (NASDAQ:TSLA) achieved record deliveries in the third quarter of 2024 despite a challenging automotive environment.

• The energy storage business is seeing strong demand, with the Lathrop Megapack factory reaching 40 gigawatt hours of annual production.

• Tesla’s internal 4680 battery cell is approaching cost competitiveness and may become the most competitive cell in North America.

• Significant improvements in Full Self-Driving (FSD) technology, with expectations of a five to six-fold improvement in miles between interventions.

• Tesla’s AI and robotics advances, including humanoid robots and autonomous vehicles, are progressing rapidly and it plans to launch ride-hailing services in California and Texas next year.

• Tesla Inc (NASDAQ:TSLA) faces challenges in maintaining automotive margins due to economic conditions and financing incentives.

• The rollout of autonomous vehicles depends on government approvals, particularly in states like California.

• There is uncertainty regarding Hardware 3’s ability to achieve unattended FSD, which may require upgrades.

• Tesla’s focus on autonomy and high-tech features may result in longer wait times at service centers despite efforts to improve service efficiency.

• Development of the Tesla Roadster has been delayed as the company prioritizes projects that have a greater impact on sustainable energy.

Q: Is Tesla still on track to launch the cheaper model next year and how does it fit into your AI and product roadmap? A: Lars Moravy, vice president of automotive engineering, confirmed that Tesla is on schedule to deliver the cheaper model in the first half of next year. The aim is to reduce vehicle costs to promote the adoption of sustainable energy and transport. This is in line with the AI ​​roadmap as Tesla introduces robotaxis, reducing the upfront cost of getting started with an electric vehicle.

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