The American multinational automotive and clean energy company Tesla, has announced its investment in Artificial Intelligence, as it contributes to the “next major growth wave.”
The wave will be driven by advances in technology and new product introductions, according to the presentation featured by Tesla on its website.
Elon Musk, the CEO of Tesla, called out about the further plans for the company, and said, “We’re investing in many future projects, including AI training and inference and a great deal of infrastructure to support future products.”
Tesla’s autonomy offerings with the inclusion of artificial intelligence hardware and software include a suite of driver assistance features called Full Self-Driving (Supervised), an autonomous humanoid robot known as Optimus, and the Robotaxi services.
In the second quarter, the automotive company continued to improve the validity of the Full Self-Driving (supervised) cars. The presentation also announces a cut in the prices of the FSD in North America and the introduction of free trials for Tesla car owners with the free hardware. The Q2 2024 Update also states how the foundations have “more meaningful FSD monetisation” in the years.
In a telephonic interview with a media house, Musk mentioned hiring more staff to train the customers for the FSD or Full Self-Driving cars.
“Once people use it at all, they tend to continue using it, so it’s very compelling and I think will be a massive demand driver,” said Elon Musk during a conversation.
Optimus or Tesla Bot, a to-be-developed humanoid robot, is currently in use for handling the batteries at the Tesla Factory, according to the featured presentation.
Musk’s telephonic interview also announced that the Optimus “humanoid robot” will be taken for use by Tesla by the end of 2025, and in 2026, it will be available for outside customers and consumers.
Musk, while talking about taking Optimus into use by 2025, said, “It’s just better for us to iron out the issues ourselves.”
The plans for the autonomous humanoid and Robotaxi services are active, the company is currently working on and developing the technologies. While the outgrowth of the company is solely dependent on Tesla’s development, the automotive company is working hard on the project owing to Robotaxi’s “outsized potential value.”
As Tesla moves forward to successfully gain in the “next major growth wave,” the presentation showcases record revenue generation in the second quarter. According to the Q2 2024 update, Tesla’s revenues increased by 2%, the automotive revenue down by 7%, the storage revenue and energy generation spiked by 100%, and its other services by a major 21%.
According to the presentation, the revenue growth was directly proportional to the sequential rebound in vehicle deliveries and the company’s energy-storing business. It was also improved owing to working on the customer’s sentiment and the inclusion of financing options to minimise the concern of staggering interest rates.
