Tesla reported earnings of $7.9 billion in net income on $25.2 billion in revenue during the fourth quarter of 2023. The figures represent an increase in revenue, up from $24.3 billion the same time last year. The company added that its vehicle volume growth rate in 2024 “may be notably lower” than it was in 2023 as it works to launch Tesla’s next-gen vehicle.
Responding to a question about its next-gen vehicles during the earnings call, Tesla CEO Elon Musk said the company is targeting production “towards the end of 2025” but warned of delays due to the complexities of the manufacturing process. “We are focused on bringing the next generation platform to market as quickly as we can, with the plan to start production at Gigafactory...