CEO Elon Musk took the stage at the Warner Bros. studio last week Thursday in one of the robotaxis called Cybercabs, which drives completely driverless, and told the crowd that the sleek AI-powered vehicles don’t have steering wheels or pedals. He also expressed confidence in the advances the company has made in autonomous driving technology, which allows vehicles to drive without human intervention. The company let its guests ride in this model on the Warner Bros. lot in Burbank, California. The company also kept its surprise unveiling at the show, a brand new transport vehicle called “Robovan” that can be configured into a truck or mass transit like a minibus that can carry up to 20 people at a time.
The company also unveiled its Optimus robots at the event last week, which were a big part of the extravagant Cybercab unveiling. The robots mingled with the crowd, serving drinks to guests in the gazebo, playing games, chatting and dancing. Elon Musk said at the event that Cybercabs will cost less than $30,000. He also estimated that the vehicles would be on sale in 2026, but then added “before 2027.” Musk also said? “We’re going from guided self-driving to full unattended self-driving, where a person can fall asleep and wake up at the destination.” “This will be a glorious future.” As for the Optimus robots, Musk expects them to cost between $28,000 and $30,000 and be able to babysit children, cut grass in gardens and deliver groceries, among other tasks.
The company generated total sales of $25.5 billion for the second fiscal quarter of 2024, with a 2% year-over-year increase. The company’s operating profit was USD 19.878 billion. After deducting all expenses, the company earned a net profit of USD 4.578 billion with a year-on-year increase of 1%. The total production of vehicles manufactured was 410,831 units, which was down 14% year-over-year. Vehicles sold and second quarter were 443,956.
Tesla Inc. will also release its next quarterly earnings results, for the third quarter of 2024, after the market closes on Wednesday, October 23, 2024. At that time, the company will post a link on its Tesla Investor Relations website that will include its quarterly annual report. So multinational banking companies and private investors have a lot to look forward to. The average target price with a high estimate for the short to medium term investment horizon has been set at $310 per share.
