Tesla Q3 2024 Financial Results and Q&A Webcast

[carlkelley]

Been all-in TSLA since 2019 and am holding firm. Great call. I paid $10K for FSD on HW3 and am relieved that Telsa will upgrade to HW4 for free if necessary for unsupervised FSD.

[nstyle]

🎯 Key points for quick navigation:

01:30 *🎙️ Introduction to Tesla Q3 2024 Results*
- The introduction of the Q3 2024 financial results and Q&A webcast.
- Welcome remarks from Travis, head of investor relations, and introduction of key figures like Elon Musk.
- Mention of record deliveries and Tesla producing its 7th million vehicle.
07:37 *🚗 Record Quarter and Future Projections*
- Tesla achieved record deliveries despite industry decline, only profitable EV company.
- Significant achievement with Tesla's energy storage business showing strong demand.
- Future plans for more affordable vehicle models in 2025.
- Expectations for 20-30% vehicle growth next year depending on external factors.
12:19 *🔋 Battery Cell Technology and Supply*
- 4680 cells approaching cost competitiveness, enhancing production efficiency.
- Emphasis on partnering with suppliers for large-scale cell requirements.
- Anticipated superiority of Tesla's internally produced cells in North America.
14:12 *🤖 Advancements in Autonomy and AI*
- Continuous improvements in Tesla’s FSD technology and capabilities.
- Upcoming version 13 of FSD expected to significantly reduce interventions.
- Plans to increase the availability and feature of ride-hailing services.
22:31 *📊 Vehicle Safety and Energy Storage Plans*
- Tesla's vehicle safety report shows a significant safety improvement.
- Expansion in AI training capability and energy storage production.
- Commitment to scaling the energy storage business to meet sustainability needs.
28:11 *🌍 Conclusion and Strategic Vision*
- Tesla's focus on future trends in energy, transport, and AI.
- Aspiration for Tesla to become the most valuable company globally.
- Acknowledgement of Tesla's progress despite challenging environments.
00:33:59 *💰 Cost Efficiency and AI Investments*
- Tesla's focus on reducing operational costs,
- Progress in service improvements and infrastructure,
- GPU cluster updates and increased capex for AI.
00:36:05 *🚗 Affordable Models and Autonomous Future*
- Plans for more affordable EV models aligned with AI,
- Importance of autonomous vehicles and future plans,
- Transition to a fully autonomous electric vehicle future.
00:42:04 *🔧 Service Improvements and Structures*
- Strategies to improve Tesla's service experiences,
- Expansion of service centers and specialization,
- Structural advantages in service operations compared to competitors.
00:45:49 *🚛 Progress on Tesla Semi and Autonomous Technologies*
- Update on Tesla's semi-truck manufacturing,
- Customer demand and benefits of the electric semi,
- Integration of FSD technology in current and future vehicles.
00:48:12 *📱 In-Vehicle Features and Full Autonomy Potential*
- Expansion of entertainment and utility features in Teslas,
- Vision for autonomy enabling diverse in-car activities,
- Enhancement of user experience through technological advances.
00:51:01 *🚦 Regulatory Pathways for Autonomous Vehicles*
- Efforts and challenges in gaining state-level autonomous approvals,
- The need for federal regulations for autonomy in the US,
- Explanation of the approval process and state variances.
00:53:14 *🔍 Future Plans and Cost Reduction Challenges*
- Challenges of reducing costs for future Tesla models,
- The complexity of efficient manufacturing practices,
- Innovations for high-volume production and cost efficiency.
00:56:18 *🚗 Tesla's Multifaceted Company Strategy*
- Tesla's operations resemble multiple companies within one larger entity.
- Tesla is achieving success across various segments, characterised by innovation in the automotive and energy sectors.
- The ongoing projects include developments in the Tesla Roadster and the broader mission toward sustainable energy.
00:59:32 *🤖 Robotaxi Hardware Development*
- Tesla's strategy involves using more advanced hardware before adapting solutions to older models.
- Hardware 4 presents significant improvements over Hardware 3, offering a more straightforward path to technological advancements.
- Tesla plans to upgrade purchases of Full Self-Driving hardware if required for safety.
01:02:16 *📊 Training and Compute Resources*
- Tesla is not constrained by training compute, focusing on both increasing training capacity and developing larger models.
- The selection of efficient training data and model validation remains a significant focal point.
- The priority is ensuring regulatory adherence during rollout, with a vision for driverless paid rides by next year.
01:07:56 *🧠 Tesla and xAI Collaboration*
- xAI supports Tesla AI in technical advancements, like scaling up and recovery during training runs.
- The collaboration capitalizes on unique AI focus areas but remains distinct due to differing goals and challenges.
- Emphasis is placed on efficient in-car AI to manage resource constraints effectively.

Made with HARPA AI

[CJ-gpyh]

We decided to buy a Tesla MYLR this month, super excited for delivery day!

[Sonsingh_saini]

I'm happy I saw the video for the xAI66x crypto token or else I would've missed it lol

[graceshotdown]

I think the most valuable comment of this whole call happened at 1:00:25

"We will take care of those that have purchased FSD on HW3"

[phelpsq]

Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024.

[sauravchopra]

Can't believe I almost missed out on xAI66x! Thanks for the heads-up in your video!

[bikramkumr]

I love the vision behind xAI66x! Your video really captured its potential!

[zangado]

It's been 2 days since I ordered my plaid s❤❤❤❤

[AkilParmal]

The potential of xAI66x is unreal! Excited to see where this goes after watching your video!

[redstargaming]

Just joined the xAI66x community after watching your video! Excited for the journey ahead!

[johnhealey]

I never had an interest in EV’s, but after learning more about Elon and his companies, I want a Tesla. Full self driving seems like a revolutionary change, like catching a huge rocket with mechanical arms.

[patchris]

Let’s goo Tesla!!!! We’re all rooting for you!!!🎉🎉🎉

[KrK-EST]

The ones who can analize know about Teslas future worth as the biggest and most influencial company on planet earth.
That also is the reason i own several TSLA stocks even when i am far below the poverty line(disabled).

[henr]

It's inspiring to hear these guys! I wish I had enough talent to be working alongside them! Great future for them!

[JaykinsFrawn]

The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?

[scrashthepunkstar]

I got my model Y a few weeks before HW4 came out. This has been a constant regret in my mind until now. Elon confirming that if HW3 doesn't achieve the same level of safety Tesla will replace the hardware for free is music to my ears. This is what a company that really cares about their customers looks like. Thank you so much Elon and Tesla!

[andrewashmore]

Blown away how much varied topics Elon can master, his computer/AI depth of knowledge is off the charts relative to any other car manufacturer CEO. This is his massive GOAT, position, and why people who request he be replaced as CEO, are just not at the races in terms of comprension of what he delivers to help make Tesla survive. A mammoth task in itself.

[shubh-personal]

00:08 Elon Musk highlighting Tesla's achievements in achieving volumes in Q3
08:26 Tesla's profitability in the EV industry
13:39 Tesla is dramatically improving autonomy and self-driving capabilities
16:35 Tesla expects rapid improvements in self-driving technology by Q2 next year
20:56 Tesla focuses on future functionalities and cyber security
23:02 Tesla's FSD is showing significant improvement, but it takes time to identify mistakes due to lack of training data.
27:41 Elon Musk predicts Tesla to become the most valuable company in the world
29:56 Tesla continues to see high levels of regulatory credit sales contributing to revenues.
34:38 Tesla's Fleet revenues are growing, operating expenses declining
36:35 Tesla's focus on lowering the cost of vehicles to drive EV adoption.
41:07 Tesla is designing cars optimized for autonomy and is aiming to address service issues at the source
43:06 Tesla's structural advantage in servicing and repair
46:45 Tesla electric semi is preferred by drivers for its performance and ease of driving.
48:28 Tesla plans to improve driver safety and reduce fatigue with FSD technology on the platform.
52:05 Advocating for federal approval process for autonomous vehicles
53:57 Tesla making significant cost reductions in car production
57:43 Tesla Roadster progress and mission focus
59:51 Rapid progress with Hardware 4 and backporting to Hardware 3
1:04:12 Tesla is facing challenges with processing vast amounts of data in vehicles with limited computing power
1:06:27 Challenges in model validation and data curation are key bottlenecks in training AI models.
1:10:52 Tesla has a strong focus on truth-seeking digital super intelligence.

[stevenboss]

Thanks for the advice! Got xAI66x, feeling bullish! 🚀