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Keeping an Eye on Tesla’s Earnings After a Tough Time: What to Look Out For

Elon Musk’s Tesla is about to report earnings after a brutal stretch. Here’s what we’re watching

In 2024, Tesla faces significant challenges, but Tuesday presents an opportunity for Elon Musk to potentially reverse the company’s fortunes. Despite TSMC’s positive performance driven by AI, Nvidia, and Apple, Tesla’s recent struggles include layoffs and concerns about its financial health. Analysts anticipate Tesla’s earnings report may disappoint, potentially revealing a negative free cash flow for the first time since 2020.

Tesla’s stock has plummeted over 40% in 2024, prompting questions about the company’s direction. Analysts emphasize the need for a new strategy from Tesla, particularly after a disappointing first quarter and concerns about slowing electric vehicle sales growth. Musk’s focus on self-driving vehicles as “the next phase of growth” marks a significant shift in Tesla’s future, likely impacting investor decisions.

Expansion into new markets like South Asia, particularly India, presents both opportunities and challenges for Tesla. Changes in Indian policy regarding imported electric vehicles open doors for Tesla, although Musk’s planned visit has been delayed due to other obligations. Collaboration with Reliance Industries and Tata Electronics indicates Tesla’s commitment to establishing a presence in India’s EV market.

Elon Musk

Elon Musk (Credits: Rolling Stone)

In Mexico, Tesla’s plans for a new gigafactory face delays but continue progressing, with construction expected to begin soon. Despite concerns about the global economy and permit delays, Tesla and its suppliers aim to invest significantly in the Mexican gigafactory, highlighting the company’s international growth ambitions.

Investors eagerly anticipate Tesla’s advancements in autonomy, particularly Musk’s promise of unveiling a self-driving Tesla on August 8. Renewed focus on driver-assistance technology and software updates reflect Tesla’s commitment to autonomy as a key driver of its business. However, questions remain about the feasibility and timeline of Musk’s ambitious promises.

The shelving of plans for a cheap electric car, the Model 2, raises questions about Tesla’s product lineup and future direction. Analysts suggest Tesla’s focus on achieving full driverless autonomy presents both technological and regulatory challenges, shaping the company’s future priorities. Additionally, Tesla seeks shareholder approval for Musk’s $56 billion pay package, which has faced legal challenges, underscoring ongoing governance concerns.

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