From CNBC: 2025-04-23 10:53:00

Elon Musk brushed off a weak Q1 earnings report for Tesla, touting a future of “sustainable abundance.” The company missed expectations with a 71% drop in net income. Shares have fallen almost 40% this year, with declining European market share and deliveries, facing protests at U.S. showrooms.

Musk addressed his efforts with the Department of Government Efficiency, stating he will reduce his federal budget-slashing starting in May. Despite ongoing government involvement, he plans to allocate more time to Tesla. Musk believes Tesla’s future lies in autonomous cars and humanoid robots, aiming to be the most valuable company globally.

Tesla expects the financial impact of fully autonomous rides to be significant around the middle of next year. Optimus robots are making progress, with plans to have thousands working in factories by the end of this year. The company aims to scale up production to millions of units per year by 2030.

Musk emphasized the impact of tariffs on Tesla, stating they are tough when margins are low. He advocates for lower tariffs for prosperity but acknowledges the decision lies with the President. Tesla’s energy business, including the Megapack, is thriving, enabling utility companies to output more total energy than before.



Read more at CNBC:: Elon Musk on robotaxi, Optimus, tariffs, energy and Tesla’s future