Tesla increased its capital spending by 34% year-on-year in the first quarter of 2024 to 2.8 billion US dollars. "While many are pulling back on their investments, we are investing in future growth – including our AI infrastructure, production capacity, our Supercharger and service networks and new products infrastructure," the company said.
Tesla reiterated its belief that a scalable and profitable autonomous vehicle business can be realised through a vision-only architecture with end-to-end neural networks, trained on billions of miles of real-world data. "Since the launch of FSD (Supervised) V12 earlier this year, it has become clear that this architecture long pursued by Tesla is the right solution for scalable autonomy," the company said, while reporting its first quarter results.
Tesla has rolled out FSD (Supervised), which now costs 99 US dollars a month, with a 30-day free trial to eligible cars in U.S. and Canada. It claims the system can change lanes, select forks to follow routes, navigate around vehicles and objects and make turns, as well as park the vehicle. "We are currently working on ride-hailing functionality that will be available in the future," Tesla added. Source: Tesla collateral
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