Tesla CEO Elon Musk is doubling down on the integration of AI technology into his company’s electric vehicles, despite facing challenges such as layoffs, a decline in revenue, and a recent Cybertruck recall. During the first-quarter earnings call on Tuesday, Musk highlighted the importance of autonomous features and services in shaping the future of Tesla.
While Tesla’s vehicle deliveries saw an 8.5% decrease in the first quarter and revenue dropped to $21.30 billion, Musk hinted at the possibility of more affordable EVs hitting the market sooner than expected, aiming for an early 2025 timeline. However, specific details about a rumored $25,000 electric sedan, the Tesla Model 2, were not disclosed.
Amidst the focus on autonomy, Tesla unveiled the Model 3 Performance version, boasting 510 horsepower, a top speed of 163 mph, and a zero-to-60 mph time of 2.9 seconds. Available for $52,990 with a 296-mile range, this variant comes with new interior features and an aerodynamic exterior design.
In a bid to emphasize the importance of autonomous capabilities, Musk introduced a robotaxi service called Cybercab and discussed plans for a fleet of automated vehicles. Tesla also reduced the price of its Full Self-Driving Capability package, making it more accessible to consumers through a monthly subscription model.
Looking ahead, Musk reiterated his commitment to making affordable vehicles widely available and expressed optimism about reaching a production volume of 3 million vehicles. Tesla’s future plans include a ride-hailing service integrated into its app, positioning the company as a combination of Airbnb and Uber for autonomous transportation.
Despite the earnings slump, Tesla continues to expand its charging network, with an increase in Supercharger stations and connectors. For the first time, the charging network is open to non-Tesla vehicles in the United States, reflecting Tesla’s effort to promote electric and autonomous driving technologies.
As Tesla gears up for an event on August 8 to discuss further details about its robotaxi business, the company’s focus on autonomy and AI remains unwavering, positioning itself at the forefront of the electric vehicle industry’s evolution towards a more autonomous future.
