Tesla CEO Elon Musk focuses on robotaxis and autonomous driving during the Q4 2024 earnings call, avoiding questions about affordable EVs and the impact of his political stances on the brand. He expresses confidence in the inevitability of electric transport while downplaying concerns about the potential rollback of EV tax credits.
On Wednesday's fourth-quarter 2024 earnings call, Tesla investors were eager to hear from CEO Elon Musk about his plans for more affordable electric vehicles, the balance of his role in the White House with running his company, and the potential impact of his public persona on Tesla 's brand. However, the call delivered little in the way of concrete answers to those questions.
Instead, investors and analysts were treated to more promises about robotaxis, artificial intelligence, robotaxi services, and autonomy—themes that have dominated Tesla's narrative for over a decade, but arguably presented with greater conviction than ever before. Musk and his team confirmed Tesla's intention to launch a robotaxi service in Austin this summer, emphasizing the company's future reliance on robotics rather than direct competition with established automakers like General Motors, Hyundai, and BYD.Despite the focus on futuristic technologies, Musk did address a policy-related question from analyst Dan Levy at Barclays regarding President Trump's plans to reverse the EV mandate. Levy expressed concerns that these regulatory changes could hinder the adoption of electric vehicles in the United States. However, Musk, who has been actively serving in an unofficial advisory role in the Trump White House, offering his input on policy decisions and advocating for reduced government spending, remained evasive. He asserted his confidence in the inevitability of sustainable transport, stating that all forms of transportation, including aircraft, would eventually transition to autonomous electric operation.Musk likened the shift towards electric vehicles to the historical adoption of the steam engine and the internal combustion engine, arguing that despite resistance from traditionalists, the progress towards electric mobility was unstoppable. He acknowledged that range anxiety had previously been a barrier to EV adoption but emphasized that this issue had been resolved. While Musk's assertion may hold true, as global sales of purely internal combustion vehicles have been declining since 2018, his response appeared less assertive than his previous statements on the subject. Last year, he expressed his desire to eliminate all tax credits related to EV purchases and repeatedly advocated for the termination of all subsidies, even though Tesla itself has benefited significantly from these programs to expand its charging network. In the past, Musk and other industry proponents have suggested that while Tesla might be resilient enough to withstand the potential loss of EV tax credits due to its advancements in battery technology, less established competitors would face greater challenges. However, critics and analysts have argued that Tesla's sales would also likely suffer if these credits were removed, particularly considering Musk's recent foray into far-right politics, which has alienated many traditional electric car enthusiasts. Tesla's sales experienced their first annual decline in 2024, and the recent investor call provided little insight into the development of new models.
TESLA ELON MUSK ROBOTAXI AUTONOMY ELECTRIC VEHICLES GOVERNMENT POLICY EV TAX CREDITS SALES DECLINE
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