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Tesla reports record income; confirms Nevada truck expansion

Tesla said it intends to invest US$3.6 billion to expand manufacturing capabilities in Nevada and is confident growing software-related profits, reflected in record net income reported Wednesday for the fourth quarter of last year, will keep margins higher than any other automaker.

At the Tesla Gigafactory in Sparks, Nev., on Oct. 13, 2018. (John Locher / AP)

Edmunds: The pros and cons of software running your car

Software was a big theme for automakers attending CES 2023 in January. BMW, Stellantis, Volkswagen and a joint venture between Honda and Sony showed off upcoming or concept vehicles that are significantly reliant on computers and code. The takeaway was clear: More and more vehicles will be run top to bottom by software, not hardware. In some cases, the future is already here.