Quarterly operating income fell 11% year over year to $1.40bn, corresponding to an operating margin of 5.7%. Automotive revenue fell 10% to $69.52bn, while energy generation and storage climbed 27% to $12.8bn and services and other revenue advanced 19% to $12.53bn. The company’s annual operating income came in at $4.35bn, a decline of 38%. For 2025, deliveries fell 9% to 1.63 million vehicles and output dropped 7% to 1.65 million units. It also outlined plans to invest in infrastructure supporting clean energy, transport and autonomous robots, including six new production lines across vehicles, robotics, energy storage and batteries.