But the core automotive business remains under scrutiny as competitors introduce newer models, often at lower price points, while the company continues to rely heavily on its Model 3 compact sedans and Model Y SUVs for volume.
Tesla has tried to stimulate demand through lower-priced trims, including stripped-down, affordable versions of the Model 3 and Model Y late last year, and the launch this month of a six-seater variant of the Model Y in the United States, where demand has been hit by the removal of key tax credits last year.
Investors have increasingly turned their attention to Musk's push into self-driving technology and robotics, seeking clearer evidence that Tesla's autonomy narrative is shifting from promise to commercial reality.
Tesla said it expanded its unsupervised robotaxi service in Austin and launched unsupervised rides in Dallas and Houston in April. The company also operates a robotaxi service in Miami and expanded the service to Orlando and Tampa, Florida. Tesla has previously identified Phoenix and Las Vegas among future expansion markets.
The company received approval in April to deploy its advanced driver assistance software, called Full Self-Driving Supervised, in the Netherlands. Some other European countries have also allowed the technology following the Dutch approval, and a key vote to decide on Europe-wide approval is expected later this year. Tesla is also pushing for approval in China.
Tesla's energy generation and storage unit has emerged as a key counterweight to the auto business, helped by demand for grid-scale batteries that support renewable energy, data centers and electricity-network stability.
Tesla's shares have fallen more than 15% this year. At about $1.4 trillion, it remains the world's most valuable automaker by a wide margin, reflecting investor expectations that self-driving software, energy storage, robotaxis and humanoid robots could eventually deliver higher-margin growth than vehicle sales.
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