Tesla had previously declined almost 20% in January amid a sell-off that dragged the Nasdaq down.
, including the Cyberbtruck, an experimental pickup.
Instead, Musk informed shareholders that Tesla plans to focus on scaling production at its old and new factories, and to dedicate resources toand driverless vehicle tech. Musk has been promising to make driverless vehicles a reality since 2016, and has yet to deliver a"robotaxi" safe for hands free use by drivers.
The note also said,"Up until now Tesla margins have largely been a function of auto hardware sales, with some modest benefits of software...specifically FSD . However, as Tesla releases more FSD features and unlocks more deferred revenue , Tesla should see incremental margin benefit." This weekend, Musk said on Twitter,"Tesla will support FSD licensing by other manufacturers," but did not say when or whether any automakers had expressed interest.
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