Tesla Targets 5 Million Annual Vehicle Production by 2030 in Q3 Update

Tesla outlined long-term production and autonomous vehicle targets during its third-quarter earnings call, targeting 5 million cars annually by 2030 and Cybercab sales by year-end. Energy revenue missed expectations at $2.9 billion versus $3.9 billion expected, though 2027 Megapack supply is nearly sold out. Tesla revised full-year capital expenditure guidance to about $20 billion, supported by over $45 billion in cash and investments and more than $1.5 billion in free cash flow. Net income included a $140 million loss on SpaceX holdings and a $290 million Bitcoin gain.