Business and Entrepreneurship
Tesla Balances EV Challenges with Innovation and Renewable Energy Growth
January 2, 2025 at 1:51 PM
Tesla faced its first annual decline in electric vehicle (EV) deliveries in over a decade, reporting 1.79 million units in 2024 compared to 1.81 million in 2023. Despite this, Tesla achieved a quarterly record of 495,570 EVs, falling short of the projected 505,000 shipments. The Tesla Model 3 remains a standout in their lineup, contributing significantly to sales. CEO Elon Musk continues to focus on innovation, with Tesla making strides in renewable energy, including a 114% growth in energy storage deployments to 31.4 GWh. While Tesla's stock faced turbulence, investors remain optimistic about its autonomous vehicle ambitions and broader technological advances.