With headline numbers out of the way, investors can focus on what else was said in Tesla’s third-quarter earnings presentation. The most interesting tidbit might just be about robots.
Tesla has launched limited, invite-only robotaxi service in the San Francisco Bay Area, according to third-quarter highlights reviewed by Barron’s.
Tesla said it has also started selling its “Megablock” energy storage product, which is a pre-engineered, medium voltage battery that integrates four Megapack 3s. It’s utility-scale battery storage that helps make electricity grids more efficient.
During the quarter ended in October, the company started to roll out version 14 of its Full Self-Driving driver assistance technology. Tesla also launched lower-priced “standard” versions of its Model 3 and Y vehicles. Lower prices should help offset some of the pain from losing the $7,500 federal EV purchase tax credit that expired at the end of September. Investors, however, knew all of this.
As for the outlook, Tesla said it’s hard to project volumes given changing electric vehicle policies and geopolitical uncertainty. The company also said that Tesla’s purpose-built Cybercab was on track for 2026 production and that “first generation production lines for Optimus are being installed in anticipation of volume production.”
Optimus is Tesla’s AI trained humanoid robot. Moving toward “volume production” should encourage investors.
Tesla stock was down 1.7% in after-hours trading.
