Latest news with #LarsMoravy
Auto Blog
16-05-2025
- Automotive
- Auto Blog
Tesla 2025 Q1 Call: Everything You Need to Know
Tesla looks to bounce back from poor Q1 results Tesla has wrapped up its Q1 earnings call, and predictions for the webcast's focus were essentially on point. Many expected Tesla to discuss the release timeline of its newly planned affordable models using existing vehicle structures, Robotaxi's Austin, Texas launch in June, and tariffs—and that's what listeners got. However, Tesla CEO Elon Musk and several other key members of the team, including CFO Vaibhav Taneja and Vice President of Vehicle Engineering Lars Moravy, shared details offering a clearer roadmap on where the company is heading following its poor Q1. Tesla missed its top and bottom-line Wall Street estimates during this year's Q1, as automotive revenue dropped 20% from the previous year to $14 billion, while net income declined 71% to $409 million, down from $1.39 billion a year ago. Previous Pause Next Unmute 0:09 / 0:09 Nissan's revolutionary self-driving tech hits Japan's streets Watch More Tesla Model 3 — Source: Getty Musk talks personal schedule and Tesla's big plans for autonomous driving Seven minutes into the broadcast, Musk attributed part of the company's headwinds to public disapproval for his role as an advisor to President Trump and head of the administration's Department of Government Efficiency (DOGE) initiative focused on cutting 'wasted' government funds. Musk said that he won't be leaving DOGE and will likely keep the role through President Trump's term, but noted that he'll reduce the amount of time he spends on the initiative to a day or two per week starting around next month to focus more on Tesla. Similar to Tesla's annual shareholder meeting last June, Musk emphasized autonomous driving and robotics as the company's future during the webcast. A key distinction Musk made was differentiating Tesla's Robotaxi from its Cybercab. Musk explained that a Robotaxi could be any Tesla operating completely autonomously, which he says most of the company's fleet is capable of. In contrast, the Cybercab refers to a specific model. During the webcast's investor analyst Q&A portion, Lars Moravy said that the Robotaxi is in sample B validation, meaning Tesla is validating a nearly finalized design and will begin its first big builds for the model at the end of Q2, with full-scale production launching next year. Tesla Cybercab — Source: Tesla Musk confirmed that Tesla's Robotaxi is on schedule for its June debut in Austin, Texas, and highlighted the service's initial fleet vehicle as the Model Y. He added that this Robotaxi service will expand from Austin to other US cities by the end of the year while stating: 'Once we make it work in a few cities, we can basically make it work in all cities in that legal jurisdiction.' While Tesla is debating the exact number of Robotaxis they'll launch on day one in Austin, Musk estimated it'll be between 10 and 20 vehicles. One investor asked Tesla how the company plans to compete with Waymo, which is considered the leading autonomous rideshare service. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Musk focused on price when addressing Waymo by stating that Waymo vehicles cost around 80% more to make than Tesla's cars and are manufactured in low volumes. After describing how Tesla's Robotaxi can scale faster than Waymo's fleet, Musk said that he's confident that 'Later this year, the first Model Y will drive itself all the way to the customer from our factory in Austin and our factory in Fremont, California.' The Tesla CEO also predicted that its unsupervised Full Self-Driving (FSD) tech will be available for personal use by the end of this year and generate material profit by the second half of next year. Tesla on upcoming affordable models and tariff impacts Autoblog previously highlighted a Reuters report from sources familiar with Tesla's production plans stating that the automaker would be delaying its release of a more affordable model to late 2025 or early 2026. Tesla confirmed plans to start production of a cheaper vehicle in June but did not specify a release date. Instead, it provided a general launch window for some time this year. Regarding tariffs, Tesla says it's responding to President Trump's new policies by prioritizing supply chain localization, which it has a head start on with its United States, Germany, and China plants that work with regional suppliers. The company also highlighted India as a particularly tough market it's targeting due to the country's 70% tariffs on all vehicle imports and luxury tax on high-end car imports. Elon Musk — Source: Getty Final thoughts Musk said during Tuesday's Q1 call that Tesla has been on the edge of death around a dozen times, and he doesn't think now is one of those dire periods. In addition to reiterating his optimism about the company's developments in autonomous driving technology, he expects thousands of Optimus humanoid robots to be working in Tesla factories by the end of the year. Musk said Optimus will scale up faster than any product in history to a million units per year in four to five years. If Tesla accomplishes its robot and driving autonomy goals, Musk believes it will become: 'The most valuable company in the world by far.' Still, the Tesla CEO acknowledged that its autonomous driving tech needs to be safer than manual human driving, not equally as safe, to flourish. Musk explained that Tesla's self-driving tech must overcome several unusual but possible edge cases where a human would need to intervene to reach this benchmark. It's also worth noting that Tesla did not guarantee growth for 2025 in its Q1 investor deck, which reads: 'While we are making prudent investments that will set up both our vehicle and energy businesses for growth, the rate of growth this year will depend on a variety of factors, including the rate of acceleration of our autonomy efforts, production ramp at our factories and the broader macroeconomic environment.'
Forbes
27-04-2025
- Automotive
- Forbes
Tesla, Looking To Boost Sales, Has A New Killer Model 3 Lease
With Tesla desperate to boost sales, it's now offering a more affordable lease on the Model 3 in the U.S. A lease on a Tesla Model 3 now starts at $349 a month with $0 down for 24 months for the Long Range Rear-Wheel Drive version (EPA rated at 363 miles of range). The $0 down is especially attractive because some ostensibly attractive leases from legacy carmakers require big down payments. The Long-Range All-Wheel Drive (EPA rated at 346 miles of range) is $549/month with $0 down. Still a pretty good deal. "We've been targeting the low cost of ownership. Monthly payment is the biggest differentiator for our vehicles," said Lars Moravy, Vice President of Vehicle Engineering, during the Q1 earnings call on Tuesday. Tesla is getting slammed right now. In the first quarter, the company posted its worst results in four years. Revenue in Tesla's core automotive business plunged 20% year-over-year, declining to $14 billion, the weakest since the third quarter of 2021. During the Q1 earnings conference call on Tuesday, executives spent more time than they have in past earnings calls discussing upcoming affordable models, a signal that sagging sales are top of mind. 'The models that come out in the next months will be built on our lines and will resemble in form and shape the cars we currently make,' said Moravy on Tuesday. 'The key is that they'll be affordable and you'll be able to buy one,' he said.
Miami Herald
23-04-2025
- Automotive
- Miami Herald
Tesla 2025 Q1 Call: Everything You Need to Know
Tesla has wrapped up its Q1 earnings call, and predictions for the webcast's focus were essentially on point. Many expected Tesla to discuss the release timeline of its newly planned affordable models using existing vehicle structures, Robotaxi's Austin, Texas launch in June, and tariffs-and that's what listeners got. However, Tesla CEO Elon Musk and several other key members of the team, including CFO Vaibhav Taneja and Vice President of Vehicle Engineering Lars Moravy, shared details offering a clearer roadmap on where the company is heading following its poor Q1. Tesla missed its top and bottom-line Wall Street estimates during this year's Q1, as automotive revenue dropped 20% from the previous year to $14 billion, while net income declined 71% to $409 million, down from $1.39 billion a year ago. Seven minutes into the broadcast, Musk attributed part of the company's headwinds to public disapproval for his role as an advisor to President Trump and head of the administration's Department of Government Efficiency (DOGE) initiative focused on cutting "wasted" government funds. Musk said that he won't be leaving DOGE and will likely keep the role through President Trump's term, but noted that he'll reduce the amount of time he spends on the initiative to a day or two per week starting around next month to focus more on Tesla. Similar to Tesla's annual shareholder meeting last June, Musk emphasized autonomous driving and robotics as the company's future during the webcast. A key distinction Musk made was differentiating Tesla's Robotaxi from its Cybercab. Musk explained that a Robotaxi could be any Tesla operating completely autonomously, which he says most of the company's fleet is capable of. In contrast, the Cybercab refers to a specific model. During the webcast's investor analyst Q&A portion, Lars Moravy said that the Robotaxi is in sample B validation, meaning Tesla is validating a nearly finalized design and will begin its first big builds for the model at the end of Q2, with full-scale production launching next year. Musk confirmed that Tesla's Robotaxi is on schedule for its June debut in Austin, Texas, and highlighted the service's initial fleet vehicle as the Model Y. He added that this Robotaxi service will expand from Austin to other US cities by the end of the year while stating: "Once we make it work in a few cities, we can basically make it work in all cities in that legal jurisdiction." While Tesla is debating the exact number of Robotaxis they'll launch on day one in Austin, Musk estimated it'll be between 10 and 20 vehicles. One investor asked Tesla how the company plans to compete with Waymo, which is considered the leading autonomous rideshare service. Musk focused on price when addressing Waymo by stating that Waymo vehicles cost around 80% more to make than Tesla's cars and are manufactured in low volumes. After describing how Tesla's Robotaxi can scale faster than Waymo's fleet, Musk said that he's confident that "Later this year, the first Model Y will drive itself all the way to the customer from our factory in Austin and our factory in Fremont, California." The Tesla CEO also predicted that its unsupervised Full Self-Driving (FSD) tech will be available for personal use by the end of this year and generate material profit by the second half of next year. Autoblog previously highlighted a Reuters report from sources familiar with Tesla's production plans stating that the automaker would be delaying its release of a more affordable model to late 2025 or early 2026. Tesla confirmed plans to start production of a cheaper vehicle in June but did not specify a release date. Instead, it provided a general launch window for some time this year. Regarding tariffs, Tesla says it's responding to President Trump's new policies by prioritizing supply chain localization, which it has a head start on with its United States, Germany, and China plants that work with regional suppliers. The company also highlighted India as a particularly tough market it's targeting due to the country's 70% tariffs on all vehicle imports and luxury tax on high-end car imports. Musk said during Tuesday's Q1 call that Tesla has been on the edge of death around a dozen times, and he doesn't think now is one of those dire periods. In addition to reiterating his optimism about the company's developments in autonomous driving technology, he expects thousands of Optimus humanoid robots to be working in Tesla factories by the end of the year. Musk said Optimus will scale up faster than any product in history to a million units per year in four to five years. If Tesla accomplishes its robot and driving autonomy goals, Musk believes it will become: "The most valuable company in the world by far." Still, the Tesla CEO acknowledged that its autonomous driving tech needs to be safer than manual human driving, not equally as safe, to flourish. Musk explained that Tesla's self-driving tech must overcome several unusual but possible edge cases where a human would need to intervene to reach this benchmark. It's also worth noting that Tesla did not guarantee growth for 2025 in its Q1 investor deck, which reads: "While we are making prudent investments that will set up both our vehicle and energy businesses for growth, the rate of growth this year will depend on a variety of factors, including the rate of acceleration of our autonomy efforts, production ramp at our factories and the broader macroeconomic environment." Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Yahoo
14-02-2025
- Automotive
- Yahoo
New Model Y variants are coming later this year, Tesla exec says
With the release of the latest Model Y, Tesla has iteratively improved an already great EV that will surely capture the attention of new car buyers. If this sounds like you, there are compelling reasons to reconsider your new car purchase. In an interview with Jay Leno, Lars Moravy, Tesla's Vice President of Vehicle Engineering, stated that the Model Y variants most buyers are interested in will be released later this often introduces new products with a 'Launch Edition,' which typically features unique upgrades and options exclusive to the first 1,000 or so vehicles off the production line. The new Model Y's Launch Edition costs $59,990, which is $4,000 more than a similarly equipped Long Range All-Wheel Drive model. 'We're starting with the Launch edition,' Moravy says, adding, 'All the other variants - the Dual-Motor base edition, Rear-Wheel Drive, Performance, seven-seater options - those will come later in the year.' The Launch Edition Model Y has Tesla's 'reimagined' interior and exterior, as well as Autopilot, otherwise known as 'Full Self-Driving (Supervised).'We know what's new on the Tesla Model Y in broad strokes, but the interview does give us a few other tidbits of info, too. According to Franz Von Holzhausen, Tesla's head of design, the interior will be made of new synthetic leather that is "easy to clean." Elsewhere in the interior, the wireless charger now supports two phones, and there's a button in the trunk area to automatically raise folded-down rear seats. The newly-ventilated front seats also automatically adjust when the rear seats are folded down. Tesla brought back the turn signal indicator stalk and added more speakers, with the Launch Edition featuring a whopping 16 of them. The cabin also features a radar that 'classifies' occupants by size, height, and weight and reads their heartbeat to adjust safety systems accordingly. Rear-seat passengers can also pair their phones to the rear-seat screen for a unique experience. New laminated glass reduces noise in the cabin, and the roof glass now rejects 25 to 30 percent more heat to keep the cabin cooler. We also learned that the front lightbar is not associated with the headlights, which sit below it, and the new hands-free trunk can open as you new Model Y is also more powerful than the outgoing model, with an output of 455 horsepower and 430 pounds-feet of torque, compared to the current dual-motor Model Y's 410 horsepower. Range estimates for the new Model Y are now 327 miles when fully charged. This change was quietly made to the Tesla Model Y landing page earlier this week, though it's unclear how the increase came to be. The range for the similarly specced 'old' Long Range All-Wheel Drive is listed at 311 miles. Tesla hasn't said what pricing will be for the new Model Y, and it's not worth speculating on it by triangulating pricing in other markets, like China. Pricing stateside is typically higher than other markets and isn't typically correlative. If the Launch Edition is any indication, we expect pricing to jump a few thousand dollars per version. Whether or not the changes above are worth that price increase is ultimately up to you.
