Tesla Q3 2026 Earnings Call: here's the full Grok Bot summary 1. People want more Teslas than Tesla can build - Elon kicked off the call with it: "Demand is growing rapidly for our vehicles. It's exceeding our production by a significant margin" - The car backlog is now the highest in four years - FSD is the biggest reason people are buying: "there's really no competitor for FSD in any car that you can buy" - FSD approval across the EU is a few months away, by Q1 at the latest - Tesla is on track to build about 5 million vehicles a year by around 2030 2. Robotaxi: "It looks like a rocket going to orbit" - The Cybercab fleet in Austin is already about 10x bigger than at launch roughly a month ago - Dallas gets Cybercab next month, and Austin is getting flooded with them: "swarm Austin with Cybercabs everywhere" - Rides will soon run until 2am, and fully 24/7 by the end of the year - Robotaxi becomes a real revenue line in 2027, turning into "a big deal" by Q3 or Q4 - Wherever Tesla is allowed to operate freely, it will end up doing "a majority of all passenger miles on Earth" - The path to a cost of just $0.30 per mile is clear, far cheaper than a human-driven ride 3. Cybercab production - Every Cybercab built right now goes straight into Tesla's own ride fleet, with sales to customers targeted by the end of 2026 - Most Cybercabs will stay Tesla-owned, so you just ride one when you need it, as "transport-as-a-service" - It's built with "50% fewer parts" than any Tesla before, which makes it faster and cheaper to build - The production line can make far more than the listed 125,000 a year 4. FSD - Starting around Q2 2027, owners can add their own cars to the Robotaxi fleet through the V15 software release - Tesla is building its own SI-based maps and navigation - More than 75% of new buyers in North America now pay for FSD at delivery - Over 1.7 million people pay for FSD, half of them on monthly subscriptions - That's close to $1 billion a year in recurring FSD revenue 5. Optimus: "Biggest product on Earth" - Optimus robots are now coming off Tesla's high-volume line in Fremont - The goal is 20,000 robots a week, reached in "at least a year, maybe a little longer" - Other companies can start buying Optimus around the end of 2027 - A video of Optimus doing tasks it was never pre-programmed for is coming in a month or two - Tesla's next-gen AI5 chip goes into Optimus around April 2027 - The hand is the hardest engineering problem, and that's where the remaining work is 6. Terafab: Tesla making its own chips - Equipment goes into the Austin chip fab in the first half of 2027, with the first test chip around May or June - Full production starts in late 2028 - Investment of "tens of billions," and "north of 100 billion" over the long term 7. Energy, Semi and Roadster - Megapacks are "almost sold out" for all of 2027 - Energy gross margin jumped to 33.1% - Tesla Semi production has started at the new factory in Reno - The Roadster demo: "arguably the coolest demo of any product ever" 8. Money - About $20B in capex this year - Up to $30B in borrowing capacity secured, with no plans to touch it this year - Investment climbs to "tens of billions" in 2028 as Tesla builds the future