In 2024, Tesla achieved significant milestones, including record vehicle deliveries and energy storage deployments. The company reported a GAAP operating income of $1.68 billion in Q4, with a GAAP net income of $2.88 billion, including a $0.68 billion mark-to-market gain on digital assets. Non-GAAP net income stood at $2.68 billion for the quarter. Tesla's operating cash flow reached $4.88 billion in Q4, contributing to a total of $14.98 billion for the year. Free cash flow was $2.08 billion in Q4, totaling $3.68 billion for the year. The company's cash and investments increased to $36.68 billion.

Tesla made substantial investments in infrastructure, including AI training compute, which saw a 400% increase, and completed the construction of Megafactory Shanghai. The Model Y is expected to remain the best-selling vehicle globally in 2024. Tesla also focused on reducing the cost of goods sold per vehicle, which reached below $35,000 in Q4.

The Energy business achieved record gross profit, and Powerwall deployments hit a new high. Looking ahead to 2025, Tesla aims to improve its Full Self-Driving (FSD) technology, with plans to launch an unsupervised FSD option and the Robotaxi business in parts of the U.S., and expand FSD (Supervised) to Europe and China.