Tesla CEO Elon Musk continues to promise investors that autonomy is in the company's future even as financials deteriorate.
Tesla reported weaker-than-expected quarterly earnings and revenue on Tuesday, with sales suffering their steepest year-over-year decline since 2012.Tesla CEO Elon Musk is pictured during a visit at the company's electric car plant in Gruenheide near Berlin, eastern Germany, on March 13, 2024, as employees resumed work after production had to be halted due to a suspected arson attack that caused a power outage.on Tuesday was dreary. The company missed estimates on the top and bottom lines.
"When the car is not moving," Musk said, "there's potential to actually run distributed inference," through the hardware that's in the cars.In 2015, Musk told shareholders that Tesla cars would achieve "full autonomy" within three years. They didn't. In 2016, Musk said a Tesla car would be able to make a cross-country drive without requiring any human intervention before the end of 2017. That hasn't happened either.
Whether all of these capital-intensive and far-out projects belong at Tesla is a question that many investors and analysts are asking.. He's used around 238.4 million of those shares as collateral to secure personal debt. In January, he began angling for even more control of Tesla.
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