business / news / / CNBC TV18
Tesla spent only $2.5 billion in the first three months of the year, resulting in a $1.4 billion positive free cash flow.
Tesla reported positive $1.4 billion free cash flow, defying analyst projections of a $1.9 billion cash burn.
KEY POINTS
- Tesla raised 2024 capex guidance to $25 billion, up from its initial $20 billion projection.
- Tesla's core automotive revenue missed expectations due to intensified competition from Xiaomi and BYD.
- Robotaxi expansion is confirmed for Phoenix, Miami, Orlando, Tampa, and Las Vegas in the first half of 2024.
- Tesla remains on track to launch Cybercab, Semi, and Megapack battery updates this year.
COMPANIES
Summarized by Newsio from CNBC TV18. How we summarize →