Tesla is now at an existential turning point. The year 2025 for this company, which is attempting a major transformation from an automobile company to an 'Energy + AI + Robotics' platform, was a year in which light and shadow sharply intersected. The core automotive business recorded a decrease in deliveries for two consecutive years (1.636M units, YoY -8.6%) and the first annual revenue decline ($94.8B, -3.0%), giving up its position as the world's No. 1 EV to BYD. On the other hand, the energy storage business continued its explosive growth with $12.77B in sales (+27%) and ~30% margins, and the start of autonomous driving's new chapter with FSD cumulative mileage exceeding 8.4 billion miles and the start of the Austin Robotaxi test run.