Elon Musk says Tesla did not receive any licensing agreements

Elon Musk says Tesla did not receive any licensing agreements

Elon Musk

Tesla Inc  CEO Elon Musk said on Wednesday during the company’s fourth-quarter earnings call that it has not entered into an FSD licensing agreement with any rival auto companies. FSD refers to the company’s full self-driving software aimed at enabling autonomous driving.

What Happened: Though the company had some tentative conversations, no agreement has been entered into. “I think they (rival automakers) don’t believe it’s real quite yet,” Musk said.

“I do want to emphasize that if I were CEO of another car company, I would definitely be calling Tesla and asking to license Tesla full self-driving technology,” Musk added. The CEO first expressed willingness to license Tesla’s autopilot and FSD technologies to other car companies in June.

Tesla started rolling out version 12 of its FSD Beta in the fourth quarter. The newest version of the software uses artificial intelligence to influence vehicle controls and is trained on data from over a million vehicles, as per Musk.

Why It Matters: In the fourth quarter, Tesla reported total revenue of $25,167 million, up 3% year-on-year. Revenue was impacted by lower FSD revenue year-on-year, the company said, while reasoning it as due to the wide release of FSD Beta in North America in the fourth quarter of 2022.

Musk also took to X after the earnings call to add that the company’s revenue will get ‘really crazy’ once FSD is approved by regulators.

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