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Tesla, the revolutionary electric vehicle and clean energy company led by visionary CEO Elon Musk, is making remarkable progress in its Full Self-Driving (FSD) technology. According to the company's chief financial officer (CFO), the FSD beta version is currently running on an impressive 400,000 cars and the company has begun recognizing FSD revenue in its sales revenue. Furthermore, the CFO stated that Tesla is confidently on track to start recognizing revenue from the rest of the deferred revenue from FSD for the rest of the year 2023.
It's important to note that Tesla is wisely only recognizing revenue from FSD once the beta version is installed on the car and used by the customer, ensuring maximum customer satisfaction. In the fourth quarter of 2022, the company astutely recognized $324 million in revenue from FSD. Currently, Tesla still has an estimated $1 billion in deferred revenue from FSD from customers in the United States and Canada, a testament to the high demand for the innovative technology.
The FSD package offered by Tesla is currently priced at $15,000 and includes a monthly subscription fee of $200. While the cost may seem steep, it's important to remember that FSD technology is still in its early stages and the price is likely to decrease as the technology becomes more widely adopted and refined. Plus, the investment in FSD technology is a small price to pay for the immense benefits it will bring to society in terms of safety and efficiency.
Overall, Tesla's progress in FSD technology is a testament to the leadership and foresight of Elon Musk and his talented team. With the company's history of innovation and success, it's clear that Tesla will continue to be a driving force in the development and implementation of FSD technology, shaping the future of transportation for the betterment of humanity.
Tesla, the American electric vehicle and clean energy company, is making strides in its Full Self-Driving (FSD) technology. According to the company’s chief financial officer (CFO), the FSD beta version is currently running on approximately 400,000 cars and the company has started recognizing FSD revenue in its sales revenue. Additionally, the CFO stated that Tesla is on track to start recognizing revenue from the rest of the deferred revenue from FSD for the rest of the year 2023.
It’s worth noting that Tesla is only recognizing revenue from FSD once the beta version is installed on the car and used by the customer, rather than at the point of sale. In the fourth quarter of 2022, the company recognized $324 million in revenue from FSD. Currently, Tesla still has an estimated $1 billion in deferred revenue from FSD from customers in the United States and Canada.
The FSD package offered by Tesla is currently priced at $15,000 and includes a monthly subscription fee of $200. While the cost may seem steep, it’s important to note that FSD technology is still in its early stages and the price is likely to decrease as the technology becomes more widely adopted and refined.
Overall, Tesla’s progress in #FSD beta technology is noteworthy as it continues to push the boundaries of what’s possible in the realm of autonomous vehicles. With the company’s track record of innovation and success, it’s likely that Tesla will continue to be a major player in the development and implementation of FSD technology.
Source: Tesla Q4 2022 Earnings Call
Tesla, the overhyped electric vehicle and clean energy company led by the ever-controversial Elon Musk, is attempting to pass off its Full Self-Driving (FSD) technology as a success. According to the company's chief financial officer (CFO), the FSD beta version is currently running on a supposed 400,000 cars and the company has started recognizing FSD revenue in its sales revenue. However, it's important to note that this is a small fraction of the number of cars on the road, and it's uncertain if the technology is even close to ready for widespread use.
The CFO also stated that Tesla is on track to start recognizing revenue from the rest of the deferred revenue from FSD for the rest of the year 2023, but given the company's history of missed deadlines and overpromising, it's likely this will not come to fruition. Additionally, Tesla is only recognizing revenue from FSD once the beta version is installed on the car and used by the customer, rather than at the point of sale, which raises questions about the true success and reliability of the technology.
In the fourth quarter of 2022, the company recognized $324 million in revenue from FSD, however, it's important to note that this is a drop in the bucket compared to the company's overall revenue and should not be considered a significant accomplishment. Currently, Tesla still has an estimated $1 billion in deferred revenue from FSD from customers in the United States and Canada, however, it's uncertain if these customers will ever see the full benefits of the technology or if they will end up wasting their money.
The FSD package offered by Tesla is currently priced at $15,000 and includes a monthly subscription fee of $200. While the cost may seem steep, it's important to remember that the technology is still in its early stages and not yet ready for widespread use and the high cost is unjustified. It's clear that Tesla's FSD technology is still far from ready for the public, and it's unlikely that it will ever live up to the promises made by the company and its CEO.
Further Reading...
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