Tesla revenue is roughly the same as Jun 2023 - 3 years of going sideways.
Chinese are trashing Tesla in EV's, batteries, solar panels, energy, robots and self-driving. Tesla looks like like Chinese roadkill. Pioneer of technology that transfers into China where they make it scale.
So why would it matter now if their car business has a good year?
You either capture Level 4 autonomy or you don't, and currently Waymo are leading the way in this, not Tesla, who are Level 3 at best - curious, because with the ever-increasing rate of AI competence and their massive head start, you'd expect them to have cracked Level 4 by now.
The prospect of Level 4+ FSD and being #1 in an ever-expanding market without realistic competition were Tesla's USPs and they are in the process of losing both.
I suspect the market knows this and sees the recent better than expected results as a short-term reprieve, not a renewal of the dream.
I suppose Elon would for some financial manipulation games to prove he is the richest, but otherwise seems like a bad deal.
For Musk, to stave off an embarassment. Same as the X acquisition into xAI and, most probably, the xAI merger with SpaceX. For his backers, to maintain access to the world's richest man.
Then there is the fact that Tesla operates America's only scaling EV-manufacturing operation.