Q1 2025 Tesla Inc Earnings Call Transcript
Key Points
- Tesla Inc (TSLA) is on track to launch fully autonomous rides in Austin by June, with plans to expand to other cities by the end of the year.
- The company has made significant progress in localizing supply chains, reducing logistics risks and tariffs impact.
- Tesla Inc (TSLA) achieved a record gross profit for its energy storage business in Q1, with strong demand for Megapacks.
- The Optimus humanoid robot project is progressing well, with expectations to scale production to thousands of units by the end of the year.
- Tesla Inc (TSLA) continues to lead in AI and autonomous technology, with plans to have millions of autonomous vehicles operating by the second half of next year.
- Tesla Inc (TSLA) faced a decline in vehicle deliveries in Q1 due to factory updates and negative brand perception in certain markets.
- The company is experiencing challenges related to tariffs, particularly affecting the energy business due to reliance on Chinese LFP battery cells.
- Auto margins declined sequentially due to lower deliveries and reduced regulatory credit revenues.
- The Optimus robot production is affected by supply chain issues, particularly with permanent magnets from China.
- Tesla Inc (TSLA) is facing increased operating expenses due to investments in AI initiatives and new vehicle programs.
Good afternoon, everyone, and welcome to Tesla's first-quarter 2025 Q&A webcast. My name is Travis Axelrod, Head of Investor Relations, and I'm joined today by Elon Musk, Vaibhav Taneja, and a number of other executives. Our Q1 results were announced at about 3:00 PM Central Time in the update deck be 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 to a number due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. (Event Instructions)
Before we jump into Q&A, Elon will be providing an update. Elon?
Hello, everyone. Well, it's never a dull moment these days. Well thanks for sure, every day is going to be exciting.
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