TSLAGet Tesla updates in your inboxBeta
Weekly digests, milestone alerts, and new features — we're building in the open.
Annual Report — FY 2024
Filed January 30, 2025
Revenue hit $97.7 billion in 2024, up about 1% year-over-year, but net income dropped sharply to $7.1 billion from $15 billion in 2023, as aggressive vehicle price cuts and a global EV price war hammered automotive margins. The real growth engine was energy generation and storage, which more than doubled to $10.4 billion in revenue, signaling Tesla's diversification beyond cars is gaining serious traction. Looking ahead, management is betting heavily on autonomy, AI compute infrastructure, and the upcoming lower-cost vehicle platform, but investors should watch whether margin compression stabilizes as competition intensifies.
What is Annual Report?
The most comprehensive yearly filing — includes a full business description, financial statements, management discussion, risk factors, and competitive landscape. This is the definitive document for understanding a company's business.
Complete annual business review — the most important filing of the year.
Extracted Milestones (11)
Optimus Humanoid Robot Under Active Development
Tesla disclosed that Optimus, a general-purpose autonomous humanoid robot, is in development and leverages AI learnings from its self-driving technology.
Next-Generation Self-Driving Computer Hardware in Development
Tesla disclosed it is developing additional computer hardware beyond its current FSD Computer to better enable processing of massive amounts of field data for neural network training and real-world performance.
Tesla Semi Early Production and Deliveries Underway
Tesla began early production and deliveries of the Tesla Semi, a commercial electric vehicle, starting in 2022.
Proprietary Lithium-Ion Battery Cell Development
Tesla disclosed it has developed a new proprietary lithium-ion battery cell and improved manufacturing processes to enable greater supply with higher energy density at lower costs.
Cybertruck Enters Production and Begins Deliveries
Tesla entered the consumer pickup truck market with first deliveries of the Cybertruck, a full-size electric pickup truck with a stainless steel exterior, beginning in November 2023.
Tesla Insurance Expands to 12 U.S. States
Tesla's real-time driving behavior-based insurance product, launched in 2021, is now available in 12 states with plans to expand further.
Cortex AI Training Cluster Expanded at Gigafactory Texas
Tesla further expanded Cortex, its AI training cluster at Gigafactory Texas, in 2025 to support neural network training for autonomous driving and robotics.
Robotaxi Service Launched in June 2025
Tesla launched its Robotaxi autonomous ride-hailing service in June 2025, initially operating with Model Y vehicles, with plans to eventually include the purpose-built Cybercab.
Supercharger Network Opened to Non-Tesla Vehicles
Tesla opened its Supercharger network to non-Tesla vehicles beginning in November 2021, with all major automotive companies announcing adoption of NACS (now SAE J3400) and their access beginning in phases in 2024.
Gigafactory Mexico Announced in Monterrey
In March 2023, Tesla announced the location of its next Gigafactory in Monterrey, Mexico.
Energy Storage Software for Remote Control and Dispatch
Tesla continues to develop software capabilities for remotely controlling and dispatching energy storage systems across markets and applications, including through real-time energy control and optimization platforms.