Tesla rolled into earnings season in a relatively poor position compared to previous quarters. The electric-auto maker had revealed earlier this month that it sold fewer vehicles in 2024 than it had the year prior—the company’s first drop in vehicle sales in a decade. Its spending was weighed down by enormous investments in AI, and it’s been struggling to make enough battery packs. The company’s revenue and margins failed to meet analyst consensus.
But on Tesla’s earnings call Wednesday evening, Elon Musk spent little time on the disappointing quarter—instead drawing investors’ attention to 2025 in what he asserted will likely be considered “the biggest year in Tesla history,” followed by an “epic” 2026. He made lofty statements and projections about Tesla’s forthcoming Optimus robot, which he said could, by itself, potentially generate “north of $10 trillion in revenue,” and suggested that there was an “achievable path” in which Tesla could become worth more than all five of the world’s largest companies combined.
