July 23, 2025 • 14 mins
Tesla fell short of Wall Street’s expectations in one of the automaker’s worst quarters in years, a sign of the toll that rising competition and a backlash against Chief Executive Officer Elon Musk have taken on the company. Adjusted earnings were 40 cents per share, Tesla said Wednesday in a statement, just below the average analyst estimate. Revenue fell 12% to $22.5 billion, the sharpest decline in at least a decade.
Still, the report was free of new bombshells and the company said it continues to move forward with robotaxi and affordable-vehicle plans, providing a measure of relief for investors. That comes “despite a sustained uncertain macroeconomic environment resulting from shifting tariffs, unclear impacts from changes to fiscal policy and political sentiment,” Tesla said.
For instant reaction and analysis, hosts Carol Massar and Tim Stenovec speak with:
- Bloomberg Intelligence Global Autos and Industrials Research Manager Steve Man
- Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management
See omnystudio.com/listener for privacy information.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
This is a breaking news outdated from Bloomberg instant.
Speaker 1 (00:13):
Reaction and analysis from our three thousand journalists and analysts
around the world. Tesla said it's moving forward with its
Robotaxi and affordable vehicle plans while reporting second quarter earnings
that fell short of Wall Street's estimates. Adjustin earnings forty
cents per share that was just below the average analyst estimate.
Revenue fell twelve percent to twenty two and a half
(00:34):
billion dollars that was also lower than expectations and the
sharpest decline in at least a decade. Gross margin, which
is a measure of profitability, was higher than anticipated. Right now,
shares down about six tenths of one percent. Tesla did
say many of its key isshives remain on track quote
despite a sustained uncertain macroeconomic environment resulting from shifting tariffs,
(00:55):
unclear impacts, and changes to fiscal policy and political sentiment.
Let's bring in a Bloomberg Intelligence Global Autos and Industrials
research manager, Steve Mann, joining us once again from New Jersey.
You gave us a great preview earlier in the afternoon.
Now we have the numbers anything surprise.
Speaker 3 (01:11):
You, Yeah, I think if you look at the stocks
down after hours a bit, I think I think the
most important thing there is they haven't given us enough
visibility into the future what their outlook is going to be.
I mean, the numbers they miss consensus. But if you
kind of dig into a little bit more and look
(01:32):
under the cover, it's actually not bad. If you look
at automotive gross margin excluding credits, it's actually fifteen percent
better than the last quarter of twelve and a half
and better than consensus estimates.
Speaker 4 (01:46):
And then if you.
Speaker 3 (01:47):
Look at free cash flow, the reason why it's down
versus the first quarter is because they spend an extra
nine hundred million on capex, which is not a bad
thing given that they're launching the cheaper model in the
cyber cap So if you exclude that nine hundred million
of additional cap backs, their free cash flow is actually
(02:07):
over a billion more than six hundred and sixty million
in the first quarter.
Speaker 5 (02:12):
So that's good.
Speaker 4 (02:16):
That's good.
Speaker 3 (02:16):
I mean spending cap backs, given you know what their
product launches are, is not a bad thing. They're investing
into the future, right, and look, they're also expanding.
Speaker 4 (02:26):
Internationally, right, They have.
Speaker 3 (02:29):
You know, we've seen over the quarter improvement higher sales
in South Korea, they announced entry into into India and
then they're launching the extended version of the Model Y
in China.
Speaker 4 (02:41):
So so it's a good thing.
Speaker 3 (02:44):
But look, we do want to hear what Elon mus
has to say in terms of not just the robotaxi,
but you know, are how are they going to face
ahead when the challenges we were seeing the US market
which is critical, it's it's they're one of the largest
market uh in in their portfolio. So we'll we'll have
(03:04):
to hear more uh on the on the call.
Speaker 1 (03:07):
How do you think Tesla's robotaxi stands up to the
other autonomous vehicle solutions that are out there right now,
namely Weimo.
Speaker 3 (03:15):
Well, I think the market can be very big, especially
in the US. So if we're not talking internationally, uh, there's.
Speaker 4 (03:24):
Definitely room for multiple players. Uh.
Speaker 3 (03:28):
You know, my perspective is that you know, Tesla is
using an all camera system that actually is gives them
a greater flexibility and greater scalability with with that system, uh,
Weimo and others use a combination of radars, liedars, and
camera system cameras just are just cheaper right to to
(03:51):
to build.
Speaker 4 (03:53):
And uh, you know, and and.
Speaker 3 (03:54):
So it's a lot easier to scale, cheaper to scale,
uh for for so.
Speaker 4 (04:01):
But then again, I think the market's big enough.
Speaker 3 (04:03):
I think there's going to be users that want in
all camera system. I think there's going to be users
that don't feel comfortable with that and want the redundancy
redundancy of light oars. So you know, for example, Uber
is partnering with Weimo.
Speaker 5 (04:19):
So I got to go back to wait, all right,
So I'm looking at the FA function on the Bloomberg
and we just talked about free cash flow, and so
it's one hundred and forty six million dollars versus six
hundred and sixty four million in the first quarter of
twenty twenty five, as our live blog says, dropping eighty
nine percent. And I know what you're saying about. It's
good that they're spending for the future, right, because you
(04:39):
said to us earlier that the best way to get
to that one point fifty six million unit delivery for
the year, right, that's the concessus estimate, is that they've
got to launch that cheaper vehicle, right, So they've got
to bring stuff out. Do we have to be worried
though about that low number or they're they're going to
be fine.
Speaker 3 (04:58):
Well, it's u uh, I mean it's it's technical, right.
It said if free cash flows overbuild, and obviously the
more the better, it is down Yeah, it's you know,
compared to a year ago, two years ago. But look
like if you look at the model Y, if you
look at the gross margin, you know, excluding credits, it
(05:18):
is up right. That actually tells you that, uh, you know,
the new vehicle is likely the model new model why
is likely built? They're able to build at a lower cost.
The issue is, like I said in the preview, is
they just don't have enough volume.
Speaker 5 (05:33):
Yeah.
Speaker 3 (05:34):
So so if if they can expand volume with the
with the existing model Y, not just in the US,
but in the international markets, and as well as introduced
the cheaper model which is supposed to build to be
built within the existing capacity, you know, there could be
a lot upside right in terms of margin, in terms
(05:56):
of free cash flow. So uh, you know, it's really
execution at the moment, and that's what we want to
hear from Elon Musk. You know, how where is the
second where is the cheaper model. They said, it's actually
they said the production has started. Initial production has started
in June, but you know it could take some time
right before they launch. I have to get all the
(06:16):
kinks out. But you know, you want to hear about India.
India is a huge market, right and where are they
taking India? You know, definitely Robotaxi is an important and
then the cyber cap.
Speaker 4 (06:30):
You know, we need a little bit more details, all right.
Speaker 5 (06:32):
Details is certainly near.
Speaker 3 (06:33):
Term details, near term details.
Speaker 5 (06:36):
All right, great setup, Steve Man, thank you so much.
We're going to look forward to reading your research in
the after hours and certainly into tomorrow's trades. Demand Bloomberg
Intelligence Global Autos and Industrials Research manager joining us from
BI headquarters in Princeton, New Jersey.
Speaker 1 (06:51):
I want to go right now and bring in Ross Gerber.
He's president's CEO of Gerber Kawasaki Wealth and Investment Management.
As the end of last year, had about three point
four billion dollars in assets under management. Long time outspoken
Tesla bull more recently expressing concerns about the company, as
he did three months ago after the last quarter report
(07:12):
earnings report. According to the Bloomberg Terminal, Gerber Kawasaki still
owns about seventy eight million dollars worth of Tesla stock. Ross.
Good to have you with us this afternoon. What have
you been doing to your Tesla position over the last quarter,
just before we get your take on the numbers.
Speaker 2 (07:29):
You know, we've been selling for years and I continue
to sell. You know, we have so much stock, and
we have a lot of clients that really believe in
the Tesla story, and we've kept some stock obviously in
our portfolios, but in my ETF, I'm out of Tesla
completely out of my GK ETF. And it's mostly because
the business is declining, and these earnings results continue to
(07:52):
show that the business continues to decline and in some
kind of troubling ways. So as much as the previous
guests is bullish on many of these things that Elon
talks about, nobody wants to talk about the truth that
nobody wants to buy Elon's products, like until that gets addressed,
there's a huge elephant in the room that nobody seems
(08:13):
to want to point at because it's Elon. So he's
the innovator behind all of the things that are great
about Tesla, but he's also the sort of villain that's
created so much animosity around him that nobody wants to
buy his products.
Speaker 5 (08:26):
We've had a great cover story by the team of
Max Chafkin and Ed Ludlow in Bloomberg BusinessWeek. The new
issue coming out, the August issue. It'll soon be on newstands,
it's already on the Bloomberg. But you know, the whole
idea ross as you know, since you understand this guy,
this company so well, you never kind of count Elon out.
And so I do wonder, you know, if he does
(08:48):
get it right, if he maybe, I don't know, We'll
see what happens in terms of his involvement in politics,
because it does seem like he still wants to stay
according to the SpaceX filing. But I mean there is
always that caveat when it comes to Elon right that
he sometimes pulls it out, or he often pulls it out.
Speaker 2 (09:09):
Yeah, And I think that's been true in the past.
And I'm very grateful that he pulled it out five
years ago when it really mattered and Tesla was almost
on the verge of bankruptcy and it has become a
very successful company. But it doesn't mean he's going to
do it again. And this idea that you know, these
kind of entrepreneur rock star people don't fall is actually
(09:30):
is not true. In fact, it's very common to what
we call the rise in fall story. That's all the
stories you see on Netflix and the documentaries. So you know,
this might be a rise in fall story, and things
don't rise forever per se. And I always remind people.
I don't think most people even know who invented the television,
but the television was invented in the United States by
(09:53):
a company called RCA, which was like the hottest stock
of the fifties. Well, how many TVs are made in
the United States today? Answer is zero, So the very
same thing could happen in the ev business. But that said,
Elon can fix the company. It's solely broken because of him.
He can certainly fix the company if he wants to
do what's necessary to improve his image, and in a
(10:15):
year people forget and Tesla might be back. But he
just doesn't seem to care about fixing his image, and
he doesn't seem to be an understanding. The responsibility goes
to him on why sales are down so much?
Speaker 1 (10:29):
So why even have any Tesla's stock?
Speaker 4 (10:31):
Right?
Speaker 2 (10:31):
Now, I think the reason I hold personally still some
Tesla stock is for the same hope that we all
have that they are definitely focused on a future, and
especially for me a climate activist, you know, it's a
green future that I'm pushing and Tasla still is the
leader in green transportation and energy, and I think it's
(10:54):
an incredibly important company to succeed. Hence why I'm out
here banging on elon all the time. It's not, you know,
for any other reason than wanting to see Tesla succeed
because it's crucially important to climate change. But this robo
taxi business is not crucially important to anybody. So you know,
I think Tesla's main business is selling evs that and
(11:16):
energy storage, and they should be focused on repairing that
main business. And I think there are other future end
of ours are interesting, and that's why it's a reason
to hold the stock. But it also trades at one
hundred and fifty times earnings that are going down, okay,
and so you know you have to weigh that too.
Speaker 1 (11:31):
In the past, you've talked about how nice it is
to drive a Rivian for example. Are you willing to
now invest in any other EV company that you've turned
on Tesla.
Speaker 2 (11:41):
No, you know, I've lost a lot of money and
EV businesses over the last five years that I've hoped
would succeed in, including Rivian and many others, And unfortunately
many of the EV operators are now having all the
incentives taken away from them as well as traditional car
companies along with tariffs and every everything else. It's just
really a horrible setup to be a car company. The
(12:03):
car company we own is Ferrari actually, which has no
problem selling their cars at forty percent margins that make
Tesla look like chump change. So you know, truthfully, it's
just a tough to be in a global auto business
on a great day, let alone with Trump as president.
So it's a very tough time for the businesses, and
I'm just not recommending that right now. Versus a stock
(12:25):
like train technology that makes you know, clean energy air
conditioning units where the demand for air conditioning is off
the charts, and that's been a wonderful green energy investment,
along with ge Vernova, from which we also own, that's
been a wonderful green energy investment.
Speaker 5 (12:41):
But it's not evis Hey, listen, I do want to
go back to We've got the Tesla live blog going
on and just tracking everything that's coming out of the earnings.
Are down a hole who covers Tesla and Alon, says
Page twelve of the shareholder deck shows the Tesla ecosystem,
which includes optimists. We know, the robot wishing a baby stroller,
you know, you know ross When it comes to Tesla
(13:04):
and the world of Elon, there are so many different
moving parts. There's you know, the shining beacon of a
SpaceX right that that's a really great business. There's all
the AI stuff that's going on. There's so many different
moving pieces. What else do you want to know, you know,
from the Elon universe.
Speaker 2 (13:22):
Well, I think the most important thing in my mind
that has the biggest opportunity to help Tesla is this
low cost vehicle they keep talking about. They have so
much excess capacity in their factories now because they're not
selling more cars that they need a new vehicle. And
also for addressing other markets, whether it be India, China
(13:42):
and Europe, you need a small vehicle that's inexpensive to
compete against the other EV players and regular traditional car companies.
And they need to do this now and the sooner
they do this the better, and that's the most important
thing I know. We like to talk about the day
a robot is pushing my care around in a stroller.
That day is long in the tooth from coming. Nor
(14:04):
does anybody in the world would trust some big robot
made by Elon Musk.
Speaker 5 (14:09):
Russ Gerber always appreciate you finding time for us.
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:09):
This is a breaking news outdated from Bloomberg instant.
Speaker 1 (00:13):
Reaction and analysis from our three thousand journalists and analysts
around the world. Tesla said it's moving forward with its
Robotaxi and affordable vehicle plans while reporting second quarter earnings
that fell short of Wall Street's estimates. Adjustin earnings forty
cents per share that was just below the average analyst estimate.
Revenue fell twelve percent to twenty two and a half
(00:34):
billion dollars that was also lower than expectations and the
sharpest decline in at least a decade. Gross margin, which
is a measure of profitability, was higher than anticipated. Right now,
shares down about six tenths of one percent. Tesla did
say many of its key isshives remain on track quote
despite a sustained uncertain macroeconomic environment resulting from shifting tariffs,
(00:55):
unclear impacts, and changes to fiscal policy and political sentiment.
Let's bring in a Bloomberg Intelligence Global Autos and Industrials
research manager, Steve Mann, joining us once again from New Jersey.
You gave us a great preview earlier in the afternoon.
Now we have the numbers anything surprise.
Speaker 3 (01:11):
You, Yeah, I think if you look at the stocks
down after hours a bit, I think I think the
most important thing there is they haven't given us enough
visibility into the future what their outlook is going to be.
I mean, the numbers they miss consensus. But if you
kind of dig into a little bit more and look
(01:32):
under the cover, it's actually not bad. If you look
at automotive gross margin excluding credits, it's actually fifteen percent
better than the last quarter of twelve and a half
and better than consensus estimates.
Speaker 4 (01:46):
And then if you.
Speaker 3 (01:47):
Look at free cash flow, the reason why it's down
versus the first quarter is because they spend an extra
nine hundred million on capex, which is not a bad
thing given that they're launching the cheaper model in the
cyber cap So if you exclude that nine hundred million
of additional cap backs, their free cash flow is actually
(02:07):
over a billion more than six hundred and sixty million
in the first quarter.
Speaker 5 (02:12):
So that's good.
Speaker 4 (02:16):
That's good.
Speaker 3 (02:16):
I mean spending cap backs, given you know what their
product launches are, is not a bad thing. They're investing
into the future, right, and look, they're also expanding.
Speaker 4 (02:26):
Internationally, right, They have.
Speaker 3 (02:29):
You know, we've seen over the quarter improvement higher sales
in South Korea, they announced entry into into India and
then they're launching the extended version of the Model Y
in China.
Speaker 4 (02:41):
So so it's a good thing.
Speaker 3 (02:44):
But look, we do want to hear what Elon mus
has to say in terms of not just the robotaxi,
but you know, are how are they going to face
ahead when the challenges we were seeing the US market
which is critical, it's it's they're one of the largest
market uh in in their portfolio. So we'll we'll have
(03:04):
to hear more uh on the on the call.
Speaker 1 (03:07):
How do you think Tesla's robotaxi stands up to the
other autonomous vehicle solutions that are out there right now,
namely Weimo.
Speaker 3 (03:15):
Well, I think the market can be very big, especially
in the US. So if we're not talking internationally, uh, there's.
Speaker 4 (03:24):
Definitely room for multiple players. Uh.
Speaker 3 (03:28):
You know, my perspective is that you know, Tesla is
using an all camera system that actually is gives them
a greater flexibility and greater scalability with with that system, uh,
Weimo and others use a combination of radars, liedars, and
camera system cameras just are just cheaper right to to
(03:51):
to build.
Speaker 4 (03:53):
And uh, you know, and and.
Speaker 3 (03:54):
So it's a lot easier to scale, cheaper to scale,
uh for for so.
Speaker 4 (04:01):
But then again, I think the market's big enough.
Speaker 3 (04:03):
I think there's going to be users that want in
all camera system. I think there's going to be users
that don't feel comfortable with that and want the redundancy
redundancy of light oars. So you know, for example, Uber
is partnering with Weimo.
Speaker 5 (04:19):
So I got to go back to wait, all right,
So I'm looking at the FA function on the Bloomberg
and we just talked about free cash flow, and so
it's one hundred and forty six million dollars versus six
hundred and sixty four million in the first quarter of
twenty twenty five, as our live blog says, dropping eighty
nine percent. And I know what you're saying about. It's
good that they're spending for the future, right, because you
(04:39):
said to us earlier that the best way to get
to that one point fifty six million unit delivery for
the year, right, that's the concessus estimate, is that they've
got to launch that cheaper vehicle, right, So they've got
to bring stuff out. Do we have to be worried
though about that low number or they're they're going to
be fine.
Speaker 3 (04:58):
Well, it's u uh, I mean it's it's technical, right.
It said if free cash flows overbuild, and obviously the
more the better, it is down Yeah, it's you know,
compared to a year ago, two years ago. But look
like if you look at the model Y, if you
look at the gross margin, you know, excluding credits, it
(05:18):
is up right. That actually tells you that, uh, you know,
the new vehicle is likely the model new model why
is likely built? They're able to build at a lower cost.
The issue is, like I said in the preview, is
they just don't have enough volume.
Speaker 5 (05:33):
Yeah.
Speaker 3 (05:34):
So so if if they can expand volume with the
with the existing model Y, not just in the US,
but in the international markets, and as well as introduced
the cheaper model which is supposed to build to be
built within the existing capacity, you know, there could be
a lot upside right in terms of margin, in terms
(05:56):
of free cash flow. So uh, you know, it's really
execution at the moment, and that's what we want to
hear from Elon Musk. You know, how where is the
second where is the cheaper model. They said, it's actually
they said the production has started. Initial production has started
in June, but you know it could take some time
right before they launch. I have to get all the
(06:16):
kinks out. But you know, you want to hear about India.
India is a huge market, right and where are they
taking India? You know, definitely Robotaxi is an important and
then the cyber cap.
Speaker 4 (06:30):
You know, we need a little bit more details, all right.
Speaker 5 (06:32):
Details is certainly near.
Speaker 3 (06:33):
Term details, near term details.
Speaker 5 (06:36):
All right, great setup, Steve Man, thank you so much.
We're going to look forward to reading your research in
the after hours and certainly into tomorrow's trades. Demand Bloomberg
Intelligence Global Autos and Industrials Research manager joining us from
BI headquarters in Princeton, New Jersey.
Speaker 1 (06:51):
I want to go right now and bring in Ross Gerber.
He's president's CEO of Gerber Kawasaki Wealth and Investment Management.
As the end of last year, had about three point
four billion dollars in assets under management. Long time outspoken
Tesla bull more recently expressing concerns about the company, as
he did three months ago after the last quarter report
(07:12):
earnings report. According to the Bloomberg Terminal, Gerber Kawasaki still
owns about seventy eight million dollars worth of Tesla stock. Ross.
Good to have you with us this afternoon. What have
you been doing to your Tesla position over the last quarter,
just before we get your take on the numbers.
Speaker 2 (07:29):
You know, we've been selling for years and I continue
to sell. You know, we have so much stock, and
we have a lot of clients that really believe in
the Tesla story, and we've kept some stock obviously in
our portfolios, but in my ETF, I'm out of Tesla
completely out of my GK ETF. And it's mostly because
the business is declining, and these earnings results continue to
(07:52):
show that the business continues to decline and in some
kind of troubling ways. So as much as the previous
guests is bullish on many of these things that Elon
talks about, nobody wants to talk about the truth that
nobody wants to buy Elon's products, like until that gets addressed,
there's a huge elephant in the room that nobody seems
(08:13):
to want to point at because it's Elon. So he's
the innovator behind all of the things that are great
about Tesla, but he's also the sort of villain that's
created so much animosity around him that nobody wants to
buy his products.
Speaker 5 (08:26):
We've had a great cover story by the team of
Max Chafkin and Ed Ludlow in Bloomberg BusinessWeek. The new
issue coming out, the August issue. It'll soon be on newstands,
it's already on the Bloomberg. But you know, the whole
idea ross as you know, since you understand this guy,
this company so well, you never kind of count Elon out.
And so I do wonder, you know, if he does
(08:48):
get it right, if he maybe, I don't know, We'll
see what happens in terms of his involvement in politics,
because it does seem like he still wants to stay
according to the SpaceX filing. But I mean there is
always that caveat when it comes to Elon right that
he sometimes pulls it out, or he often pulls it out.
Speaker 2 (09:09):
Yeah, And I think that's been true in the past.
And I'm very grateful that he pulled it out five
years ago when it really mattered and Tesla was almost
on the verge of bankruptcy and it has become a
very successful company. But it doesn't mean he's going to
do it again. And this idea that you know, these
kind of entrepreneur rock star people don't fall is actually
(09:30):
is not true. In fact, it's very common to what
we call the rise in fall story. That's all the
stories you see on Netflix and the documentaries. So you know,
this might be a rise in fall story, and things
don't rise forever per se. And I always remind people.
I don't think most people even know who invented the television,
but the television was invented in the United States by
(09:53):
a company called RCA, which was like the hottest stock
of the fifties. Well, how many TVs are made in
the United States today? Answer is zero, So the very
same thing could happen in the ev business. But that said,
Elon can fix the company. It's solely broken because of him.
He can certainly fix the company if he wants to
do what's necessary to improve his image, and in a
(10:15):
year people forget and Tesla might be back. But he
just doesn't seem to care about fixing his image, and
he doesn't seem to be an understanding. The responsibility goes
to him on why sales are down so much?
Speaker 1 (10:29):
So why even have any Tesla's stock?
Speaker 4 (10:31):
Right?
Speaker 2 (10:31):
Now, I think the reason I hold personally still some
Tesla stock is for the same hope that we all
have that they are definitely focused on a future, and
especially for me a climate activist, you know, it's a
green future that I'm pushing and Tasla still is the
leader in green transportation and energy, and I think it's
(10:54):
an incredibly important company to succeed. Hence why I'm out
here banging on elon all the time. It's not, you know,
for any other reason than wanting to see Tesla succeed
because it's crucially important to climate change. But this robo
taxi business is not crucially important to anybody. So you know,
I think Tesla's main business is selling evs that and
(11:16):
energy storage, and they should be focused on repairing that
main business. And I think there are other future end
of ours are interesting, and that's why it's a reason
to hold the stock. But it also trades at one
hundred and fifty times earnings that are going down, okay,
and so you know you have to weigh that too.
Speaker 1 (11:31):
In the past, you've talked about how nice it is
to drive a Rivian for example. Are you willing to
now invest in any other EV company that you've turned
on Tesla.
Speaker 2 (11:41):
No, you know, I've lost a lot of money and
EV businesses over the last five years that I've hoped
would succeed in, including Rivian and many others, And unfortunately
many of the EV operators are now having all the
incentives taken away from them as well as traditional car
companies along with tariffs and every everything else. It's just
really a horrible setup to be a car company. The
(12:03):
car company we own is Ferrari actually, which has no
problem selling their cars at forty percent margins that make
Tesla look like chump change. So you know, truthfully, it's
just a tough to be in a global auto business
on a great day, let alone with Trump as president.
So it's a very tough time for the businesses, and
I'm just not recommending that right now. Versus a stock
(12:25):
like train technology that makes you know, clean energy air
conditioning units where the demand for air conditioning is off
the charts, and that's been a wonderful green energy investment,
along with ge Vernova, from which we also own, that's
been a wonderful green energy investment.
Speaker 5 (12:41):
But it's not evis Hey, listen, I do want to
go back to We've got the Tesla live blog going
on and just tracking everything that's coming out of the earnings.
Are down a hole who covers Tesla and Alon, says
Page twelve of the shareholder deck shows the Tesla ecosystem,
which includes optimists. We know, the robot wishing a baby stroller,
you know, you know ross When it comes to Tesla
(13:04):
and the world of Elon, there are so many different
moving parts. There's you know, the shining beacon of a
SpaceX right that that's a really great business. There's all
the AI stuff that's going on. There's so many different
moving pieces. What else do you want to know, you know,
from the Elon universe.
Speaker 2 (13:22):
Well, I think the most important thing in my mind
that has the biggest opportunity to help Tesla is this
low cost vehicle they keep talking about. They have so
much excess capacity in their factories now because they're not
selling more cars that they need a new vehicle. And
also for addressing other markets, whether it be India, China
(13:42):
and Europe, you need a small vehicle that's inexpensive to
compete against the other EV players and regular traditional car companies.
And they need to do this now and the sooner
they do this the better, and that's the most important
thing I know. We like to talk about the day
a robot is pushing my care around in a stroller.
That day is long in the tooth from coming. Nor
(14:04):
does anybody in the world would trust some big robot
made by Elon Musk.
Speaker 5 (14:09):
Russ Gerber always appreciate you finding time for us.
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Carol Massar
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