Tesla reported fourth-quarter earnings on Wednesday afternoon, and investors looked past revenue and per-share profit misses to focus on news the company kept its goal to launch cheaper EVs in the first half of the year and vowed to have fully autonomous cars on the roads in Austin,

Musk noted an autonomous fleet could see vehicles utilized an average of 55 hours per week, vs. the current average for vehicles to be utilized just ten hours a week on average. As a first step, Musk said Austin will see an initial launch of unsupervised FSD in Austin in June, and expects California and other states to follow.