⚡What does Tesla do, in 30 seconds?
Tesla sells electric cars and builds batteries for homes, businesses and power companies 6 6. It sold $94.8bn ✓ in FY2025, and car sales alone made up 69% ✓ of that. Energy storage and solar added 13% ✓. Tesla says it is focused on bringing AI into the real world through driver-assist software, its Robotaxi service and robots such as Optimus 6.
📱What does Tesla sell?
Tesla has five revenue lines, and car sales are by far the biggest. Four of them sit inside its car segment, and energy is a separate segment 6.
Car sales
New Teslas sold for cash or with a loan. This revenue also covers internet connectivity, FSD (Supervised) features, free Supercharging programs and software updates 1. In FY2025 this line brought in $65.8bn ✓, down from FY2023's $78.5bn ✓. Tesla builds Model 3, Model Y and Cybertruck, and it ended Model S and Model X in mid-2026 3 45. The Cybertruck is a full-size electric pickup with a stainless steel body 6.
👥 Drivers who order on Tesla's website or in its own stores 7. Tesla delivered 486,532 vehicles in the third quarter of 2026, and 478,237 of them were Model 3 or Model Y 38.
Regulatory credits
Tesla earns credits under emission and other rules, and sells them to other companies that need them to meet those rules 7. In FY2025 this line brought in $2.0bn ✓, down from FY2024's $2.8bn ✓. Tesla linked the 28% fall in 2025 to government actions such as a new US law 1.
👥 Other companies that must meet emission rules 7. General Motors, for example, spent $0.4 billion in 2025 on credits of this kind 97.
Car leasing
Cars Tesla leases straight to drivers in some countries, for up to 48 months, with income booked evenly over the lease 1. It brought in $1.7bn ✓ in FY2025. The number of cars on these leases fell from 167,163 to 133,720 in the year to the third quarter of 2026 3.
👥 Drivers who would rather lease than buy, in the countries where Tesla offers it 1.
Energy storage and solar
Megapack is a giant battery for businesses and power companies, and Powerwall is a home battery 6. Tesla also sells solar products 7. The line brought in $12.8bn ✓ in FY2025, when Tesla installed 46.7 GWh of storage 148. That revenue rose 27% in 2025 on more Megapack and Powerwall installs 1.
👥 Homeowners, businesses and power companies 7. SpaceX, also run by Elon Musk, bought $626 million of Megapacks in the first nine months of 2026 10.
Services and other
Used cars, repairs, paid Supercharging, insurance, parts and merchandise 6. In FY2025 it brought in $12.5bn ✓. Tesla had 84,465 Supercharger connectors at 8,904 stations at the end of the third quarter of 2026 3.
👥 Tesla owners, used-car buyers and drivers who pay to charge 6. Tesla also opens its Superchargers to other brands' cars 7.
How the mix has shifted
Where the customers are
The United States is Tesla's biggest market, at 50% ✓ of FY2025 sales. China added 22% ✓, and all other countries together made up 28% ✓. Tesla has factories in the US, in Shanghai and near Berlin 6.
💸How does Tesla make money?
Follow the money from left to rightfrom top to bottom: what customers pay for, what it costs to make, and what is left as profit.
Tesla sold $94.8bn ✓ of cars, batteries and services in FY2025. Making and delivering them cost $77.7bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $17.1bn ✓.
Next come the costs of running the company. Research and development took $6.4bn ✓, and sales, marketing and admin took $5.8bn ✓. Other operating costs took $0.5bn ✓. What remains is operating profit, the profit from the main business, which was $4.4bn ✓. Interest and other income added $0.9bn ✓, and tax took $1.4bn ✓. Net income was $3.8bn ✓. Put simply, out of every hundred dollars of sales, Tesla kept about $4 ✓ as profit.
Out of every $100 customers paid in FY2025…
Interest, investment gains and other income added +$1 for every $100 of sales, so the slices above add up to a little more than $100.
⏱️ Tesla by the clock
Spread the FY2025 totals evenly over its 365 days and you get this. Source: Tesla, Inc. 10-K [11].
📈How is Tesla doing?
Tesla grew very fast for a decade, but sales dipped in FY2025 and its operating margin has shrunk to 4.6% ✓. Sales rose from $4.0bn ✓ in FY2015 to $94.8bn ✓ in FY2025. That is growth of 37.1% ✓ a year on average. Sales rose in 9 ✓ of those 10 ✓ years, but growth was -2.9% ✓ in FY2025. In FY2022, operating margin was 16.8% ✓. In 2025, car sales revenue fell 9% on about 8% fewer cash deliveries and a lower average price 1. Credit revenue fell 28% in 2025 1.
The latest four quarters, to 30 September 2026, show sales growing again. Sales reached $103.6bn ✓, up 8.3% ✓ on the four quarters before. But operating margin slipped to 3.3% ✓. Tesla says its heavy investment in AI and software, aimed at earning money from its own fleet, will weigh on profit during this phase 4. In the third quarter of 2026 alone, R&D rose 69% to $2.76 billion, driven by AI, Optimus, chips, batteries and new vehicles 4. That quarter also had refunds of tariffs Tesla had paid, which cut its cost of revenue by $526 million in energy and $260 million in cars 10. But $339 million owed to some storage customers cut energy revenue 10.
📝 The report card
Tesla earns top marks for its balance sheet, a middle mark for growth, and low marks for profit, cash and steadiness. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Tesla (orange) and its 4 peers land; further right is better.
Growth
Tesla's sales grew 5.2% ✓ a year over its last three fiscal years, just enough for a C ✓ on the fixed scale. Rivian grew 48.1% ✓ a year and earns an A ✓, but from much smaller sales of $5.4bn ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Tesla kept 7.0% ✓ of sales as operating profit, which earns a D ✓. That still beats GM's 4.6% ✓ and Ford's 0.3% ✓. Alphabet keeps 30.7% ✓, good for an A ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Tesla turned 4.9% ✓ of sales into free cash flow. That falls just short of the next band up, so it earns an F ✓. Capital spending was $11.3bn ✓ in FY2024 and $8.5bn ✓ in FY2025.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
At the end of FY2025, Tesla's cash and investments minus its borrowings (leases and stakes in other companies not counted) equalled 37.8% ✓ of a year's sales. That earns an A ✓ and is the best of the 5 ✓ companies compared, against a peer median of -18.4% ✓. GM and Ford owe more than they hold, at -56.2% ✓ and -66.7% ✓ of sales, so both get an F ✓ ✓.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Tesla's yearly growth swings a lot, with a standard deviation (a measure of how far each year's growth strays from the average) of 32.2% ✓, which earns an F ✓. Sales jumped 82.5% ✓ in FY2018, yet growth was -2.9% ✓ in FY2025. Ford's figure is just 9.2% ✓, which earns a C ✓.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Tesla compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
Tesla keeps its cash for its own plans instead of paying it out. From FY2015 to FY2025 it made $23.6bn ✓ of free cash flow and paid $0.0bn ✓ in dividends and buybacks. Capital spending reached $15.4bn ✓ in the four quarters to September 2026. Tesla expects it to top $20 billion in 2026, driven by AI computing, factories and its own fleet 4. In September 2026 it also signed credit agreements worth $30 billion in total 10.
🧮Ratios 101: what are Tesla's key financial ratios?
Ratios show Tesla is a profitable carmaker with little debt, though it keeps far less of each sale than Alphabet does. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Tesla's real FY2025 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 Tesla keeps 18.0% ✓ of sales as gross profit, well above the 6.8% ✓ median of the three peers with figures. It is down from 22.8% ✓ in FY2015.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Tesla's 4.6% ✓ beats the -1.7% ✓ peer median and its own -17.7% ✓ of FY2015. It is still well below its FY2022 figure of 16.8% ✓.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Tesla keeps 4.0% ✓ of sales as final profit, against -22.0% ✓ in FY2015 and a -1.5% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 4.6% ✓ is modest because profit is small next to shareholders' equity of $82.1bn ✓. It still beats the -9.1% ✓ peer median and the -82.0% ✓ of FY2015.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 Tesla earned 2.8% ✓ on everything it owns, up from -11.0% ✓ in FY2015 and above the -0.9% ✓ peer median. Alphabet earns far more, at 22.2% ✓.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Tesla's sales equal 0.7x ✓ the value of everything it owns. That is up from 0.5x ✓ in FY2015 and level with the 0.7x ✓ peer median.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 Tesla holds 58 ✓ days of stock, down from 149 ✓ in FY2015 and below the 71 ✓ day median of the two peers with figures.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 Tesla's 2.2x ✓ means short-term assets cover the bills due within a year more than twice over. That is up from 1.0x ✓ in FY2015 and above the 1.6x ✓ peer median.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Tesla's debt is just 0.1x ✓ its equity, down from 1.9x ✓ in FY2015 and well below the 1.6x ✓ peer median. Ford's debt is 4.5x ✓ its equity and GM's 2.2x ✓.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
Interest cover
How many times over operating profit could pay the year's interest bill.
👉 Operating profit covers interest costs 12.9x ✓, against -6.0x ✓ in FY2015, when Tesla lost money. The -7.3x ✓ median of the three peers with figures is negative because Ford, at -4.9% ✓, and Rivian, at -66.5% ✓, made operating losses.
📏 Rule of thumb: Above 5x is comfortable; below 2x is a warning sign.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Tesla's free cash flow was 1.6x ✓ its profit in FY2025, below 3.9x ✓ in FY2020. GM, at 6.5x ✓, and Alphabet, at 0.6x ✓, are the only peers with figures.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
R&D intensity
How much of each sales dollar goes into inventing future products.
👉 Tesla spends 6.8% ✓ of sales on R&D, down from 17.7% ✓ in FY2015 as sales grew faster. It is below the 15.2% ✓ median of the three peers with figures.
📏 Rule of thumb: Tech companies often spend 10% to 20%; more is not always better if it does not pay off.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is 3.0% ✓ of sales, near the 3.2% ✓ peer median and down from 4.9% ✓ in FY2015. GM pays far less in stock, at 0.2% ✓.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Tesla paid out 0.0% ✓ of FY2025 profit as dividends or buybacks. GM and Alphabet, the two peers with figures, have a median of 144.7% ✓.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Tesla's competitors?
Tesla meets old carmakers and a young electric rival in cars, and Alphabet's Waymo in robotaxis 97 1787 18192021. GM sold $185.0bn ✓ and Ford $187.3bn ✓ in FY2025, while Rivian sold just $5.4bn ✓.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Tesla (TSLA, FY2025) | Electric cars, driver-assist software, robotaxi rides, and home and grid batteries | $94.8bn | 5.2% | 4.6% | 6.6% |
| General Motors (GM, FY2025) | Electric cars in the US, such as the Chevrolet Equinox EV and Cadillac LYRIQ; GM also buys regulatory credits 97 | $185.0bn | 5.7% | 1.6% | 9.5% |
| Ford (F, FY2025) | Electric cars in the US, sold almost all through dealers, most of them independently owned 167 | $187.3bn | 5.8% | -4.9% | 6.7% |
| Rivian (RIVN, FY2025) | Electric vehicles sold directly to customers, at a much smaller scale than Tesla 1787 | $5.4bn | 48.1% | -66.5% | -46.2% |
| Alphabet (GOOGL, FY2025) | Robotaxis: Waymo serves hundreds of thousands of paid rides a week 18192021 | $402.8bn | 12.5% | 32.0% | 18.2% |
🧭Tesla SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- Tesla has its own battery cell plants in Texas and Nevada, and its own cathode and lithium refining plants in Texas are in early ramp-up 3.
- Its balance sheet earns an A ✓ on FY2025 figures. At 30 September 2026 it still held net cash of $36.2bn ✓ (cash and investments minus all borrowings; leases not counted).
- Energy storage is a second business: its revenue rose 27% in 2025 1. Tesla reported its highest-ever storage order rate and backlog in the third quarter of 2026 3.
- Tesla had 1.74 million active FSD subscriptions at the end of the third quarter of 2026, up from 1.04 million a year earlier 3.
🩹 Weaknesses
- Of the 486,532 vehicles Tesla delivered in the third quarter of 2026, 478,237 were Model 3 or Model Y 38.
- Credit revenue was down 73% in the third quarter of 2026 from a year earlier 43.
- Operating margin fell from 16.8% ✓ in FY2022 to 4.6% ✓ in FY2025.
- Tesla says it depends heavily on Elon Musk, who does not work for it full-time and also runs other companies 24.
🚀 Opportunities
- Tesla launched unsupervised Robotaxi rides in Miami, Orlando and Tampa in July 2026, and said the service was live in seven major US cities 5.
- Tesla started giving Robotaxi rides in Cybercabs in Austin on 3 September 2026 3.
- FSD (Supervised) was available in nine EU countries by October 2026, with over 100,000 customers there 3.
- Tesla began volume production of its Semi truck in the third quarter of 2026 3. It also began making Optimus robots in Fremont, calling them its first production-quality bots 3.
⚠️ Threats
- In 2025 a Florida jury found Tesla 33% at fault in a 2019 crash involving Autopilot and awarded $129 million in compensatory and $200 million in punitive damages; Tesla is appealing 10.
- Regulators, including the US road safety agency, send Tesla requests for information on its driver-assist systems and Robotaxi 10.
- Tesla says current tariffs hurt its energy storage business more than its car business 4.
- US tax credits for home solar and batteries ended on 31 December 2025 1.
🏰Does Tesla have a moat?
Why 3?
Tesla says it has sold cars without relying on traditional advertising, at fairly low marketing cost, and now advertises as needed 7. Over 55% of its new North American deliveries in the second quarter of 2026 included FSD subscriptions, a record 5. But car sales revenue fell 9% in 2025, partly because of higher customer incentives 1.
Why 2?
Tesla had 1.74 million active FSD subscriptions at the end of the third quarter of 2026 3. It also sells its own insurance, which was available in 13 US states at the time of its 2025 annual report 7. But other brands' cars can use Superchargers, and all major carmakers have announced they will adopt the North American Charging Standard plug in certain markets 7.
Why 4?
Tesla can make over 40 GWh a year of its own 4680 battery cells in Texas 3. It says doing so much in-house has let it reach economies of scale profitably 22. Its Shanghai factory can build over 950,000 Model 3 and Model Y cars a year 3. It also sells through its own website and stores, while Ford sells through dealers 167.
Why 2?
Tesla has pledged not to sue anyone who uses its electric vehicle patents in good faith 7. US robotaxi rules are a patchwork of state and city laws 7. Some US states do not let carmakers be licensed as dealers, so Tesla makes those sales out of state 7. Its credit revenue fell 73% in the third quarter of 2026 43.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Tesla; grey dots are peers).
🔭What should you watch next?
Annual shareholder meeting
Shareholders vote on three directors, executive pay and the auditor, in Austin and online 26.
SpaceX special committee
A committee of directors with no personal interest in SpaceX is studying a closer link with SpaceX, which could include combining the two companies 10. Tesla says there is no assurance a deal will happen 10. Any deal would need the committee's backing and any needed shareholder vote 10.
Driver-assist class action
In October 2026 an appeals court cancelled the class status of a lawsuit over Tesla's driver-assist systems and sent it back to the lower court 10.
📚Learn the words
❓Frequently asked questions about Tesla
How does Tesla make money?
Tesla makes most of its money selling cars. Car sales brought in $65.8bn ✓ in FY2025, or 69% ✓ of the total. Energy storage and solar added $12.8bn ✓, and services such as repairs, used cars and Supercharging added $12.5bn ✓.
What are regulatory credits, and why is Tesla earning fewer?
Regulatory credits are earned under pollution and other rules, and Tesla sells its credits to companies that need them 7. Its credit revenue fell 28% in 2025, and Tesla cited government actions such as a new US law 1. In the third quarter of 2026 it fell 73%, and Tesla said government actions had restricted credit programs 43.
Does Tesla still make the Model S and Model X?
Tesla stopped making both in mid-2026 45. Their lines in Fremont were taken down to make room for Optimus robots 45. Model 3 and Model Y made up 478,237 of its 486,532 deliveries in the third quarter of 2026 38.
Is a Tesla self-driving?
Not the cars people buy. Tesla says FSD (Supervised) needs an alert driver and does not make the car autonomous 3. Its Robotaxi service gives unsupervised rides in some US cities, and it added Cybercab rides in Austin on 3 September 2026 5 3.
Who runs Tesla?
Elon Musk has been Tesla's CEO since October 2008 and on its board since April 2004 25. Robyn Denholm has chaired the board since November 2018 26. Vaibhav Taneja has been finance chief since August 2023 25.
Why does a car company sell batteries?
Tesla builds Megapack for businesses and power companies, and Powerwall for homes 6. Energy is a separate segment, and in FY2025 it brought in $12.8bn ✓. Tesla expects rising data center demand to keep driving demand for its storage products 3.
What is Optimus?
Optimus is Tesla's humanoid robot. Tesla began making it on its Fremont lines in the third quarter of 2026, calling these its first production-quality bots 3. In its 2025 annual report, Tesla said it had yet to commercialize its robots and could not predict demand for them 24.
Does Tesla pay a dividend?
No. Tesla paid nothing in dividends or buybacks from FY2015 to FY2025 ($0.0bn ✓). It put $8.5bn ✓ into capital spending in FY2025.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [11] [13] [14] [12] [15].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. About how much of Tesla's sales came from selling cars in FY2025?
2. What was the first car Tesla delivered?
3. Which unusual title is part of Elon Musk's official job title at Tesla?
4. Which country gives Tesla the biggest slice of its sales?
5. By the third quarter of 2026, how many vehicles had Tesla built in total?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials are taken from SEC filings (10-K and 10-Q) as tagged in XBRL. Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Tesla Form 10-K for fiscal year 2025, filed 2026-01-29 — Item 7 and notes: 2025 deliveries and storage deployed, revenue line drivers, revenue recognition, energy tax credits (accessed 2026-10-29)
- Tesla (TSLA) Form 10-K for fiscal year 2025, filed 2026-01-29 — revenue and cost of sales by product, segment and geography (accessed 2026-10-28)
- Tesla Q3 2026 Update (Form 8-K Exhibit 99.1), filed 2026-10-21 — Q3 2026 highlights, operational summary, installed capacity, FSD, Robotaxi, Optimus, Semi, energy storage (accessed 2026-10-29)
- Tesla Form 10-Q for the quarter ended 2026-09-30, filed 2026-10-22 — Item 2 MD&A: overview, Robotaxi and Cybercab, revenue line drivers, R&D, capital spending outlook, tariffs (accessed 2026-10-29)
- Tesla Q2 2026 Update (Form 8-K Exhibit 99.1), filed 2026-07-22 — Q2 2026 highlights: Cybercab production, Robotaxi cities, FSD take-up, Supercharger growth, Model S and X lines (accessed 2026-10-29)
- Tesla Form 10-K for fiscal year 2025, filed 2026-01-29 — Cover, Item 1 and Item 2: incorporation, Texas conversion, headquarters, fiscal year, segments, products, employees, mission (accessed 2026-10-29)
- Tesla Form 10-K for fiscal year 2025, filed 2026-01-29 — Item 1: sales channels, galleries, Supercharging and NACS, insurance, regulatory credits, patent pledge, marketing, competition, regulation (accessed 2026-10-29)
- Tesla Q3 2026 production, deliveries and deployments (Form 8-K Exhibit 99.1), filed 2026-10-02 — Q3 2026 production, deliveries, lease share and storage deployed (accessed 2026-10-29)
- General Motors Form 10-K for fiscal year 2025, filed 2026-01-27 — GM US vehicle sales and share in 2025, electric models, purchases of emissions credits (accessed 2026-10-29)
- Tesla Form 10-Q for the quarter ended 2026-09-30, filed 2026-10-22 — Notes and Part II: tariff refunds, SpaceX investment and Megapack sales, credit facilities, legal proceedings, special committee (accessed 2026-10-29)
- SEC EDGAR companyfacts: Tesla (TSLA) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Rivian Automotive, Inc. / DE (RIVN) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: General Motors Co (GM) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: FORD MOTOR CO (F) — annual 10-K facts (accessed 2026-10-28)
- SEC EDGAR companyfacts: Alphabet Inc. (GOOGL) — annual 10-K facts (accessed 2026-10-28)
- Ford Motor Form 10-K for fiscal year 2025, filed 2026-02-11 — Ford sales through dealerships; Ford Model e 2025 EBIT (accessed 2026-10-29)
- Rivian Q3 2026 production and deliveries (Form 8-K Exhibit 99.1), filed 2026-10-02 — Rivian Q3 2026 deliveries; electric vehicles sold directly to customers (accessed 2026-10-29)
- Waymo blog: Waymo closes $5 billion debt financing, October 8, 2026 — First debt financing; fifteenth US city launched in September 2026; earlier 2026 equity investment (accessed 2026-10-29)
- Waymo blog: Waymo is coming to Spain (Madrid region), October 20, 2026 — Over 20 million trips; hundreds of thousands of commercial rides each week; first Madrid riders targeted for 2027 (accessed 2026-10-29)
- Tesla Form 10-K for fiscal year 2025 — Item 1: Robotaxi ride-hailing service launched June 2025 with Model Y (accessed 2026-10-29)
- Tesla Form 10-Q for the quarter ended September 30, 2026 — MD&A overview: Robotaxi expansion and Cybercab rollout in September 2026 (accessed 2026-10-29)
- Tesla Q4 2025 Update (Form 8-K Exhibit 99.1), filed 2026-01-28 — Q4 2025 highlights: Robotaxi safety monitors, 2026 production plans (accessed 2026-10-29)
- SEC EDGAR companyfacts: Tesla (TSLA) — balance sheet at 2026-09-30 (accessed 2026-10-28)
- Tesla Form 10-K for fiscal year 2025, filed 2026-01-29 — Item 1A risk factors: reliance on the CEO, Robotaxi and Optimus development (accessed 2026-10-29)
- Tesla Form 10-K/A for fiscal year 2025 (Part III), filed 2026-04-30 — Executive officers and directors: CEO and CFO tenure (accessed 2026-10-29)
- Tesla 2026 proxy statement (DEF 14A), filed 2026-10-19 — 2026 annual meeting date and agenda, principal executive office, board chair (accessed 2026-10-29)
- Tesla Motors IPO prospectus (Form 424B4), filed 2010-06-29 — Formation in 2003, first Roadster deliveries in 2008, Roadsters sold by March 2010 (accessed 2026-10-29)
- SEC EDGAR companyfacts: Tesla (TSLA) — quarterly 10-Q/10-K facts (accessed 2026-10-28)