Electric vehicle giant Tesla has released its latest financial results, revealing a mixed bag of news for investors. Despite missing revenue projections, the company has managed to surpass profit expectations, thanks to a significant jump in auto margins. This boost in profitability is a welcome development for shareholders, particularly given the company's ambitious plans to expand its production and manufacturing capabilities. However, CEO Elon Musk has sounded a cautionary note, warning that Tesla is facing significant costs in the near future. The company's decision to retrofit its existing vehicles with Full Self-Driving (FSD) capabilities has been met with skepticism, with some analysts questioning the feasibility of this plan. According to reports, Tesla plans to build new factories specifically to enable FSD on its HW3-equipped cars, which raises questions about the company's strategy and the potential financial implications. As the company continues to push the boundaries of electric vehicle technology, investors will be watching closely to see how these plans unfold.
Tesla misses on revenue but beats on profit as auto margins jump CNBCTesla's profits beat expectations, but Elon Musk says big costs are ahead NPRTesla will build factories just to retrofit HW3 cars it said could do FSD, but can’t Electrek
