Tesla Inc. announced its financial results for the year 2023 on Wednsday. During the subsequent investor conference call, CEO Elon Musk shared that the company has made substantial strides in the development of a new, low-cost vehicle. However, he did not provide any specific details or projected timelines for this initiative, and he clarified that discussions about product launches would not take place during earnings calls.
Musk also took the opportunity to commend Chinese automakers, characterizing them as some of the most competitive car manufacturers globally. He predicted their success would significantly extend beyond their domestic market, stating that Chinese automakers would “demolish” most of the world’s other car companies if there were no trade barriers.
However, Musk did not identify any clear opportunities for collaboration with these Chinese automakers unless they were granted access to Tesla’s proprietary Supercharger network or licensed to use its autonomous driving technology.
According to the financial report, which IT Home reviewed, Tesla manufactured 494,989 electric vehicles (EVs) and delivered 484,507 in the fourth quarter of 2023. Cumulatively for the year, the company produced 1,845,985 EVs and delivered 1,808,581.
In the report, Tesla projected a potential slowdown in the growth rate of its auto business for 2024. The company attributed this to its ongoing efforts to launch a “new generation of vehicles” from its Texas Gigafactory, a project that may divert resources and focus from its current production lines.
SEE ALSO: Cybertruck Set for Anticipated Introduction to Chinese Market in Q1 2024
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