Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Elon Musk promised a rebound in Tesla sales this year after a disappointing 2024, with leaps forward in artificial intelligence that will enable unsupervised, self-driving cars on Texas roads by June.His optimism contrasted with disappointing fourth-quarter results, in which profit and revenue missed estimates, following Tesla\u2019s disclosure earlier this month of its first annual decline in electric vehicle sales in more than a decade. Musk on Wednesday said Tesla will launch a driverless ride-hailing service in the company\u2019s home city of Austin, Texas, within six months, whilst releasing a prototype of its Optimus humanoid robot this year and starting production of a fleet of autonomous \u201ccybercabs\u201d in 2026.\u201cWe made many critical investments in 2024 in manufacturing, AI and robotics that will bear immense fruit in the future\u2009.\u2009.\u2009.\u2009to such a scale that it is difficult to comprehend,\u201d Musk said. \u201cWe\u2019re building the manufacturing lines, setting up for what I think will be an epic 2026 and a ridiculous \u201827 and \u201828.\u201dMusk reiterated plans to release an upgraded SUV Model Y \u2014 the world\u2019s best-selling car \u2014 alongside \u201cmore affordable models\u201d in the first half of the year to galvanise flagging sales, without providing specifics.\u201cI see a path for Tesla being the most valuable company in the world, by far, not even close,\u201d added Musk, the world\u2019s richest man whose empire includes SpaceX, xAI, and social media platform X. \u201cThere is a path where Tesla is worth more than the next top five companies combined.\u201dTesla shares gyrated on the results \u2014 initially falling 4 per cent in after-hours trading, then reversing to trade 4 per cent higher. The carmaker is the eighth-largest company in the world and has increased in value dramatically since Musk spent $250mn to help re-elect Donald Trump, gaining a powerful role to shape US policy and regulation as one of the president\u2019s top advisers. Analysts were less sanguine about the company\u2019s performance. \u201cWhile Tesla discussed a return to vehicle growth it didn\u2019t mention a specific target, versus Musk\u2019s [prior] call for 20 to 30 per cent growth,\u201d said Barclays analyst Dan Levy. \u201cWhile the long\u200b-\u200bterm narrative remains, the fourth-quarter was a \u2018back to earth\u2019 moment for Tesla stock, which has increasingly been disconnected from fundamentals.\u201dMusk dismissed the potential impact of Trump cancelling $7,500 federal EV tax credits, saying that soon \u201call transport will be autonomous and electric, including aircraft \u2014 it can\u2019t be stopped any more than the advent of the internal combustion engine\u201d replacing steam and horses.Echoing its Big Tech peers, Tesla revealed a sharp increase in AI spending in the quarter. Capital expenditure rose 21 per cent to $2.8bn as it built a training cluster of 50,000 linked H100 Nvidia chips dubbed \u201cCortex\u201d in its Gigafactory in Texas, which underpin its \u201cfull self-driving\u201d autonomous technology.Improving self-driving performance and winning federal and state-level regulatory approval is key for Tesla to launch its wheel-and-pedal-less Robotaxi, which it claims is \u201cscheduled for volume production starting in 2026\u201d. Musk addressed fierce competition among tech companies, claiming that analysing billions of hours of video captured by its vehicles has given it the edge over rivals such as Google and OpenAI.He said: \u201cThere is no company in the world as good at real world AI as Tesla. I don\u2019t even know who second place is\u2009.\u2009.\u2009.\u2009I would need a very big telescope to see them, that\u2019s how far behind they are.\u201dShareholders had been braced for disappointment. Earlier this month, Tesla reported deliveries increased 2.3 per cent in the fourth quarter to 495,570 vehicles globally. While the company maintained its lead over China\u2019s BYD, the figures fell short of estimates and on an annual basis declined in 2024 for the first time since 2011.Fourth-quarter adjusted net income rose 3 per cent to $2.5bn, missing expectations for $2.6bn, according to a filing. Revenue rose 2 per cent to $25.7bn, missing the average $27.2bn analysts\u2019 estimate.Tesla\u2019s operating margin fell to 6.2 per cent from 8.2 per cent, which the company blamed on lower average selling prices for its core Model S, X and Y cars because of heavy discounting and an \u201cincrease in operating expenses driven by AI and other R&D projects\u201d. Despite the hype around new robotic products, Tesla still makes about four-fifths of its revenue from selling cars.It received a boost from sales of regulatory credits to rivals that build more polluting vehicles, with the amount received jumping 60 per cent year-on-year to $692mn.Also offsetting Tesla\u2019s disappointing EV sales was its fast-growing energy generation and battery storage division, which more than doubled revenue to $3.1bn in the quarter. <\/p>\n","protected":false},"excerpt":{"rendered":"
Summarize this content to 2000 words in 6 paragraphs in Arabic Unlock the Editor\u2019s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Elon Musk promised a rebound in Tesla sales this year after a disappointing 2024, with leaps forward in artificial intelligence that will enable unsupervised, self-driving cars<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[],"class_list":{"0":"post-186008","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-tech"},"_links":{"self":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/186008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/comments?post=186008"}],"version-history":[{"count":0,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/posts\/186008\/revisions"}],"wp:attachment":[{"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/media?parent=186008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/categories?post=186008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globetimeline.com\/ar\/wp-json\/wp\/v2\/tags?post=186008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}