Dear Tesla Shareholders,
I’m writing this from the factory floor in Texas, where the hum of machines and the spark of ideas remind me why we’re here. You’ve been with us through wild rides—record-breaking deliveries, skeptics betting against us, and moments where the world doubted what Tesla could pull off. Yet here we are, stronger than ever, because of your trust in our mission: accelerating the world’s transition to sustainable energy. Let’s talk about where we’ve been and where we’re going.
2024 was a beast of a year. We shipped more vehicles than anyone thought possible—hundreds of thousands of Model Ys, 3s, and Cybertrucks rolling off lines from Shanghai to Fremont to Berlin. Our Gigafactories didn’t just keep up; they set the pace. Full Self-Driving took a quantum leap—our latest software update has cars navigating city streets with a precision that’s frankly mind-blowing. I’ve said it before: autonomy isn’t a feature, it’s the future. And we’re closer than ever to making it standard.
On the energy front, we’re rewriting the grid. Megapack and Powerwall deployments hit all-time highs, storing clean energy at scales that make utilities take notice. Solar’s picking up steam too—every panel we install is a step toward a world where fossil fuels are a relic. This isn’t just about cars; it’s about building an ecosystem where energy and mobility work as one. You’re funding that revolution.
So what’s next? Buckle up, because 2025 is where things get insane—in a good way. We’re all-in on AI and autonomy. Picture this: Robotaxi fleets hitting streets, turning idle cars into revenue machines while you sleep. We’re not talking decades—think years, maybe sooner. New products are cooking in the lab too. I won’t spill all the beans yet, but let’s just say our design team’s dreaming up stuff that’ll make the Cybertruck look tame. Production capacity’s scaling fast—Nevada’s humming, and we’re eyeing new spots to plant our flag.
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Challenges? Sure, they’re coming. Supply chain kinks, chip shortages, competitors scrambling to catch up—it’s the usual noise. But we’ve got a team that thrives on solving hard problems. Tesla’s not here to play it safe; we’re here to push humanity forward, even when the odds stack up. That’s what you signed up for, and that’s what we’ll deliver.
Financially, we’re in fighting shape. Cash reserves are robust, operating margins are solid, and we’re plowing profits back into R&D and infrastructure. We’re not sitting on piles of money for fun—we’re spending it to build a future where Tesla’s everywhere: on roads, in homes, powering cities. The next earnings call will lay it all out, but rest assured, every dollar’s working overtime to max out long-term value. Wall Street might obsess over quarters; we’re playing a decades-long game.
I’ve always believed Tesla’s more than a company—it’s a movement. You’re not just shareholders; you’re co-conspirators in a plan to remake the world. From the early days of Roadster prototypes to today’s global footprint, your belief has fueled us. Let’s keep the momentum. Let’s keep defying gravity. Together, we’re not just building cars or batteries—we’re building a legacy that’ll outlast us all.
Stay bold,
Elon
[Elon Musk]
CEO, Tesla, Inc.
