Tesla said its vehicle volume growth rate may be notably lower in 2024 than the growth rate achieved in 2023, as its teams work on the launch of a "next generation vehicle and other products." It added that the growth in its energy generation and storage business should outpace the automotive business.
Energy generation and storage revenue doubled year-on-year to more than 3 billion US dollars in the second quarter of 2024, while automotive revenues fell 7% to 19.9 billion dollars.
Tesla said "though the timing of robotaxi deployment depends on technological advancement and regulatory approval, we are working vigorously on this opportunity given the outsized potential value." Tesla invested 600 million dollars in AI infrastructure in the second quarter.
In the second quarter, Tesla rolled out a version of its FSD (Supervised) automation system that primarily relies on eye tracking software to monitor driver attentiveness. The company also said it increased the robustness of its next gen FSD (Supervised) model with substantially more parameters.
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