Tesla released its financial results for the first quarter of 2026, reporting total revenue of $22.387 billion, a 16% year-over-year increase, and net income of $477 million, a 17% year-over-year rise. Vehicle demand continued to grow in parts of Asia and South America, while demand in North America, Europe, and the Middle East also rebounded. Musk stated that capital expenditures would significantly increase this year, expected to exceed $25 billion. He firmly believes that the humanoid robot Optimus is Tesla's most important product, with production slated to begin later this year and a substantial output planned for next year. However, the public will not see the Optimus V3 version until its design is finalized. Tesla's CFO noted that high gas prices in the U.S. have helped boost sales, but interest rates and tariffs have impacted vehicle costs. Additionally, Tesla plans to launch autonomous taxis in about 12 states, though they will not have a significant impact this year as the company focuses on addressing safety and scalability issues. Older vehicle models will not receive the unsupervised version of FSD functionality, and collaborations between affiliated companies require board approval. The Terafab project has been hindered by supply shortages, with Tesla planning to adopt Intel's 14a manufacturing process. The new Roadster sports car is expected to debut in about a month. As of press time, Tesla's stock price had dropped by 0.33%.