Electric Vehicle Maker’s Stock Rises After Q4 Earnings Beat; Robot Production Nears Year‑End
The shares of the company climbed more than 3% in premarket trading on Thursday after it reported fourth‑quarter earnings that surpassed analysts’ expectations.
For the quarter, revenue hit $24.9 billion, slightly below the $25.1 billion forecast, and fell 2.4% from the same period a year earlier. Adjusted earnings per share were $0.50 versus the $0.45 expected, while operating income reached $1.41 billion against a $1.32 billion estimate. Gross margin also beat expectations at 20.1% compared with a projected 17.1%.
In its shareholder presentation, the company highlighted preparations for production ramps of its semi‑truck and pickup models, both slated to begin in the first half of 2026. It also announced plans to add six new production lines across its entire product range.
On the robotics front, the company will unveil the next version of its robot, Optimus V3, in the first quarter of the year. Production is expected to start before the end of 2026, with an eventual annual capacity of one million units. Meanwhile, production lines for the older Model X and Model S vehicles will be repurposed for the robot program. The firm also removed safety drivers from a limited number of robotaxi vehicles in Austin, although it has not set a timetable for a full rollout.
The robotaxi service is set to expand into Dallas, Houston, Phoenix, Miami, Orlando, Tampa, and Las Vegas during the first half of 2026. Full‑self‑driving subscriptions doubled in 2025, bringing the total to 1.1 million. The company has shifted from a one‑time purchase model to a $99‑per‑month subscription and has removed lane‑centering and adaptive‑cruise features to encourage adoption of the advanced system.
In addition to the earnings announcement, the company disclosed a $2 billion investment in preferred shares of its AI startup. Vehicle deliveries for the quarter were 418,227—down 15% from the same period last year—and the full‑year total of 1.64 million units reflects an 8% decline from 2024, marking the second consecutive year of sales contraction. The slide is attributed to the loss of federal EV tax credits, intensified competition from legacy automakers, and the polarizing public profile of the company’s CEO.
Investors are looking to the company’s autonomous and robotics initiatives as potential catalysts for future growth. Analysts debate how quickly the robotaxi era will unfold, noting predictions that 1,000 robotaxis could be on the road by year’s end. The CEO’s announcement of safety‑driver removal is seen as a significant step toward a fully autonomous fleet, while the company continues to push forward with its FSD technology and robot production plans.
