Tesla’s CEO Discusses Demand and Upcoming Cybercab Launch in Dallas
Elon Musk, the CEO of Tesla, shared that the demand for the company’s electric vehicles is notably surpassing production levels. He attributed this surge in interest partly to advancements in Full Self-Driving technology. Additionally, Tesla is set to launch its Cybercab service in Dallas next month.
During a recent earnings call, Musk referred to a “very strong” third quarter for Tesla, stating that the company is ramping up production to meet the increasing demand. He noted, “Demand is growing rapidly for our vehicles. It’s exceeding our production by a significant margin. The biggest driver for demand is full self-driving, and today there’s really no competitor for FSD in any car that you can buy.”
For context, Tesla reported impressive third-quarter revenue of $28.05 billion, with a total of 486,532 vehicle deliveries.
Musk indicated that these results could signal a crucial growth phase for Tesla, especially after a period of slower expansion. He said, “In a nutshell, after many years of sort of grind and things being fairly flat, I think we’re now headed for a lot of fun and significant growth.”
Furthermore, Musk outlined plans to boost Tesla’s manufacturing capacity with an eye towards producing around 5 million vehicles annually by 2030. As the company expands, the launch of Cybercab in Dallas next month is part of its broader strategy to roll out autonomous transportation options in more cities.
“I don’t think there’s any company in the world that can match our scale with autonomous vehicles,” Musk stated. He emphasized the rapid week-over-week growth in autonomous vehicle operations and mentioned that deliveries of Cybercabs to customers could begin by the end of 2026. However, he clarified that most would likely remain part of Tesla’s fleet rather than being sold individually, as the Cybercab will mainly operate as a transport service.
Tesla’s Chief Financial Officer, Vaibhav Taneja, also announced that the company’s capital expenditure guidance has been raised to about $20 billion for 2026. He mentioned that Tesla ended the quarter with more than $1.5 billion in positive free cash flow and over $45 billion in cash and investments.
In addition to these developments, Musk noted that Tesla is working to expand Full Self-Driving into more international markets, aiming for EU-wide approval. “We’re hoping for an EU-wide approval,” he explained. “It’s hard to predict, but maybe, you know, within a few months.”
Earlier this week, Musk suggested that a merger between Tesla and SpaceX could be beneficial. He mentioned that both companies have established special committees with independent directors to explore this possibility.
When questioned again about the potential merger, Musk responded, “I think I said everything that should be said yesterday. Tap dancing through a minefield there.”
