Tesla accelerated the launch of ＂affordable new car＂, which made the market boil and US stocks rose by 12% before the market closed.

　　American electric vehicle manufacturerIt rose more than 12% to $162.8 per share in pre-market trading of US stocks. The company’s financial report released on the 23rd showed that in the first quarter of 2024, the company’s revenue was US$ 21.3 billion, down 9% from the same period last year. Net profit was $1.129 billion, down 55% year-on-year. Although the revenue of the financial report did not meet expectations, it was pointed out in the financial report that the company has updated the future vehicle lineup and advanced the launch time of the new model. The original announced time was to start production in the second half of 2025.

　　Musk talks about rebuilding Tesla to start new growth: autonomous driving+low-priced models become life-saving straws?

　　On April 24, the financial report for the first quarter of 2024 released showed that its revenue in the first quarter was 21.301 billion US dollars, down 9% year-on-year; The net profit was $1.129 billion, down 55% year-on-year; The adjusted earnings per share was $0.45 and the gross profit margin was 17.4%. Except gross profit margin, all financial indicators are lower than Wall Street’s expectations.

　　However,Took out a new business map: low-priced models will be released at the latest next year, Robotaxi (Taxi) will be released in August this year, and the prospect of automatic driving will be clear, and it will even be ordered by other car companies.Progress is steady.

　　This prospect has once again been recognized by the market, and the share price of US stocks rose by 13.38% after hours. At the same time, Ark Investment Management Company, a subsidiary of "Mu Sister", has also increased its holdings of Tesla for several consecutive days.

　　Tesla said that it is currently between two growth waves: the first wave began with the global expansion of the Model 3/Y platform. "We believe that the next wave will be triggered by the advancement of autonomous driving technology and the launch of new products, including those based on our next-generation vehicle platform."

　　Low-priced models "return" to Tesla?

　　On the earnings conference call, elon musk, CEO of Tesla, gave a big bonus-Tesla’s low-priced models will start production at the end of this year at the earliest and early next year at the latest. It was the release of the news that drove Tesla’s share price to rise rapidly after hours.

　　Musk admits that the demand for electric vehicles is under pressure, and other automakers are turning to hybrid vehicles, but Tesla will not do so.

　　He pointed out that Tesla will continue to update its vehicle lineup and accelerate the launch of new models. Some production plans originally scheduled for the second half of 2025 may be advanced to the beginning of 2025 or even the end of 2024, including cheaper models, which will form a strong combination with existing models. The new model will use the next generation platform and the current platform technology, and will be able to use the production line of the current model. He also said that the delivery of electric vehicles in 2024 will be higher than last year.

　　A few weeks ago, foreign media reported that Tesla would give up the plan of launching low-cost cars and go all out to develop Robotaxi, a self-driving taxi. This low-cost model has always been highly anticipated by the market, and the price is expected to be around $25,000, which is expected to become the next hot model to promote Tesla’s growth.

　　Later, Musk denied this report on his social media platform X, calling it "lying again". However, Musk’s rumor did not reverse Tesla’s decline. However, after that, there were news that Tesla gave up low-priced models. Under the huge bad news, Tesla’s share price fell for several days until the financial report was released. Since 2024, its share price has fallen by over 40%.

　　At the earnings conference call, some analysts asked detailed questions about this low-priced model, but Musk did not respond. Tesla executives said that Tesla is updating its future product roadmap to provide customers with cheaper electric vehicles faster.

　　However, some analysts have questioned this. In the financial report, Tesla described this low-priced model as "a lower-priced model". Analysts believe that the price of this new model may be difficult to match the market expectations.

　　Tesla has previously disclosed that the cost of the next generation electric vehicle platform may be reduced by 50% compared with the existing platforms supporting Model 3 and Model Y. In this financial report conference call, Tesla admitted that the company will turn to the strategy of mixing the next generation technology and process with the existing platform and production line, which will lead to a reduction in the company’s cost reduction.

　　Foreign media quoted analysts as saying that this can be "regarded as confirmation that it has stopped the Model 2 (low-priced model code) plan".

　　Automated driving is commercialized or only one step away.

　　"Even if aliens kidnap me tomorrow, Tesla will solve the problem of autonomous driving." At the earnings conference call, Musk clearly expressed his determination in autonomous driving.

　　Musk stressed, "If anyone wants to invest in Tesla’s stock, then I strongly suggest that you must try FSD. If you don’t know FSD, it’s hard to say that you know Tesla."

　　Based on the large-scale driving mileage, self-developed computing platform and huge computing power layout, Tesla’s intelligent driving software FSD (fully automatic driving) has entered the V12.3 stage. Tesla said that the fully automatic driving distance is only "one step away" from reality, and once it is commercialized on a large scale, it will become a lucrative "cash cow" for Tesla.

　　In the version of FSDV12.3.1 pushed by Tesla to North American car owners in March, Tesla has introduced the "end-to-end neural network" technology. By deeply learning the driving data of over one million vehicles, it uses technology to influence vehicle control, such as operating steering wheel pedals and turn signals, instead of hard coding every driving behavior.

　　Musk once said that 6 billion miles is an important node for the qualitative change of fully automatic driving system. In the first quarter of 2024, the total mileage of Tesla FSD real road conditions has reached 1.25 billion miles (about 2 billion kilometers), which far exceeds the sum of other companies. Tesla expects that at the current speed, the accumulated mileage of FSD is expected to reach 2 billion miles by the end of May and 6 billion miles within one year.

　　At the beginning of April, Musk also said on his social platform X that the cumulative mileage of Tesla FSD driving will soon exceed 10 billion miles.

　　In order to further promote the coverage of FSD, Tesla recently announced the downward adjustment of monthly subscription price and package purchase price of FSD in the United States. The FSD subscription price has been reduced from $199 to $99 per month; The purchase price of the FSD package has also dropped from $12,000 to $8,000.

　　"We are indeed moving towards the future of autonomous driving of electric vehicles. Gasoline vehicles will be like riding horses and using flip phones." Musk said.

　　It is worth mentioning that Musk also confirmed that Tesla is discussing the licensing of FSD with a car manufacturer. "We are having a dialogue with a car manufacturer."

　　Tesla plans to supply its self-driving car computers and cameras to other car companies and authorize them to use the software. However, Tesla management also mentioned that even if a license agreement is reached this year, it may take Tesla three years to adapt it and put it on the bus.

　　In fact, as early as 2021, Musk said that he had an early discussion with other automakers on the licensing of autonomous driving technology, but no results were achieved. In 2023, Tesla announced that it would open to other car manufacturers to authorize the assisted driving systems Autopilot and FSD. However, earlier this year, Musk mentioned that "automakers don’t believe that Tesla’s fully automatic driving is real."

　　Based on the maturity of FSD, Tesla Robotaxi (taxi) is just around the corner.

　　Musk confirmed in the earnings conference call that Tesla will release Robotaxi on August 8, 2024, and the management announced the latest progress of Robotaxi, which will adopt the "Unboxed" manufacturing method.

　　Musk also revealed that Tesla Robotaxi is called "Cybercab", which is a vehicle customized for taxi service. As part of the fleet, Tesla owners may also send their cars to make money, which Musk described as "the combination of Airbnb and Uber".

　　Tesla is currently developing the network car function available in the future, and plans to seamlessly integrate the network car function into Tesla applications. After the earnings conference call, Tesla released a preview screen of automatically calling a car through Tesla APP on X.

　　Kathy Wood, founder of Ark Investment, said in a recent interview that Tesla is carrying out the world’s largest project through autonomous driving. Wood believes that the gross profit margin of Robotaxi business is between 80% and 85%, which is like software as a service. Before 2030, the entire ecosystem of self-driving taxis will generate 8 trillion to 10 trillion US dollars in revenue, and platform suppliers such as Tesla will get half of it.

　　Musk reiterated that Tesla is an artificial intelligence company.

　　Tesla is comprehensively increasing its investment in the field of artificial intelligence, including the aforementioned autonomous driving.

　　Tesla said that in order to further improve its end-to-end training capabilities, Tesla will continue to enhance its core artificial intelligence infrastructure capabilities in the coming months.

　　In early 2024, Musk confirmed on social media that Tesla would invest 500 million US dollars in the super factory in new york to build a Dojo supercomputer cluster. He also pointed out that the amount of investment to remain competitive in the AI field will be billions of dollars every year. At the beginning of April, Musk further pointed out that Tesla’s accumulated investment in the field of autonomous driving (computing power training, large-scale data pipeline and video storage) will exceed 10 billion US dollars in 2024.

　　Musk said that by the end of this year, Tesla will have 85,000.H100 GPU is used to train artificial intelligence.

　　He emphasized that Tesla is an artificial intelligence company, and Musk downplayed or even refused to answer analysts’ questions about the automotive industry. In his view, it is not qualified to regard Tesla as an investor in a car company.

　　In addition, Musk also revealed the human form.The progress of Optimus, at present, Optimus can perform simple operations, such as "completing simple factory tasks in the laboratory", and Tesla will try to carry out preliminary production of Optimus for internal use this year.

　　He added that humanoid may start limited mass production at the end of next year and supply it to external customers. Musk stressed that Optimus will be more valuable than any other product combined, and Tesla’s artificial intelligence reasoning technology is also different from any other company.

　　Musk has said many times before that humanoid sales may make greater contributions to Tesla’s business compared with other fields such as automobile manufacturing.

　　Analysts pointed out that despite Musk’s prospects for other businesses, the market still pays more attention to the progress of Tesla’s automobile business, just as low-priced models have greatly boosted the stock price.

　　In order to increase its market share, Tesla has lowered the price of all its products in the United States, China, Europe and other markets by about $2,000.

　　However, some foreign media pointed out that at present, Tesla is still one of the few automakers in the world who make money by electric vehicles, but in China, the world’s largest electric vehicle market, Tesla’s limelight is beingWaiting for the rookie to take it away; In the American market, established automakers are also catching up.It has been announced that it has been solved.Group manufacturing obstacles, it is expected that electric vehicles will be sold and profitable later this year.

　　Tesla has said for many years that it expects an average annual growth rate of 50%, but it has failed to achieve this goal. The financial report also warned investors that the growth rate this year will be "significantly reduced".

　　"From 2019 to now, we have just experienced a long period of prosperity," Musk said in a conference call. "It is time to restructure the company to achieve the next stage of growth."