Tesla’s Q3 earnings reveal an important shift beyond vehicle sales. While net profit dropped 43%, its energy storage business deployed 13.7 GWh and achieved a 33.1% gross margin. Free cash flow also turned positive at $1.53B. Meanwhile, over 1.7 million customers are paying for FSD, as Tesla continues developing Robotaxi and Cybercab. The question is whether these businesses can become major growth drivers as EV competition intensifies.
