Tesla CEO Musk is actively willing to share core charging and autonomous driving technologies with Chinese automakers

Tesla announced its fourth quarter and full-year financial reports for 2023. The report shows that Tesla achieved revenue of US$25.2 billion in the fourth quarter of 2023, a year-on-year increase of 3%. Net profit for common shareholders reached US$7.9 billion, a significant year-on-year increase of 115%, and diluted earnings per share was US$2.27, a year-on-year increase of 112%. These data indicate that Tesla has achieved considerable performance growth in 2023.

In the conference call after the release of the financial report, Tesla CEO Elon Musk and Chief Financial Officer Vaibhav Taneja and other senior management teams discussed Several key issues of the company were discussed in depth. In his opening speech, Musk highly praised the Tesla team's outstanding performance in the past year, especially emphasizing that the company successfully achieved the milestone of annual production of 2 million vehicles, and the Fremont factory even reached an annual output of 560,000 vehicles. of annual output makes it the most productive auto plant in the United States.

Musk further pointed out that Tesla’s Model Y will sell more than 1.2 million units in 2023, becoming the best-selling model in the global electric vehicle market. In addition, Tesla's energy storage business has also achieved significant growth, with delivery volume approaching 15 GWh in 2023, and the annual growth rate has reached an astonishing three-digit level. Even as it invests heavily in future projects, Tesla maintained strong free cash flow in 2023, reaching $4.4 billion.

It is understood that Tesla has made important progress in the development of its next-generation platform. Musk revealed that the new model will first start production at the Texas Gigafactory and gradually be promoted to other factories. In addition, Tesla’s FSD V12 autonomous driving system is also expected to be available to ordinary users in the near future. This new architecture realizes end-to-end artificial intelligence and was praised by Musk as a "very profound technological innovation."

In the conference call, Tesla’s Chief Financial Officer Taneja also expressed affirmation of the company’s performance in 2023. He emphasized that despite facing a higher interest rate environment, Tesla still achieved record results. In the automotive business, Tesla continues to improve unit costs and increase vehicle profit margins. At the same time, the company is also working to attract new customers through digital marketing campaigns and help them understand Tesla's benefits.

Tesla plans to continue to increase production, reduce costs and increase investments critical to future growth in 2024. Capital expenditures for the year are expected to exceed US$10 billion, laying the foundation for the company's growth in future stages. In addition, Tesla's energy business is also expected to achieve rapid growth in 2024, which may even exceed the growth rate of its automobile business.

In the investor question session, Tesla executives discussed the launch of new models, increased production of 4680 batteries, voting rights issues, compound annual growth rate expectations, automobile gross profit margin expectations, factory construction in Mexico and Nevada, and fully automated Topics such as driving technology, the delivery schedule of the humanoid robot Optimus Prime, Cybertruck orders, energy business and digital marketing were answered in detail. This information provides the market and investors with a more comprehensive understanding of Tesla's current situation and future development plans.

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