While the most exciting parts of the 2024 Impact Report were focused on Tesla’s future roadmap, a deeper dive into the data reveals a lot about what’s currently happening. The report is packed with key metrics on vehicle safety, ownership costs, and the explosive growth of Tesla Energy.
These aren’t just separate points - they all come together as part of a self-reinforcing and self-feeding engine. The data shows just how all these elements work together to help scale Tesla’s various businesses, while also advancing each one. Let’s take a look.
Pillar 1: Safety
The report makes some of Tesla’s boldest safety claims to date, but they’re all backed by data from the global fleet. This fleet data is one of Tesla's biggest advantages, allowing it to prove just how much safer its vehicles are.
As of 2024, vehicles using Autopilot technology were involved in one accident for every 6.77 million miles driven. This represents a safety record nearly 10 times better than the U.S. national average of one accident per 0.70 million miles.
Alongside that, the entire Tesla lineup, including the Cybertruck, now boasts 5-star safety ratings from the NHTSA. Tesla vehicles are also 8 times less likely to be involved in a fire than the average vehicle in the United States, which completely blows the “EVs are a fire risk” claim out of the water.
In general, Tesla vehicles are far safer than their legacy automotive cousins, especially with new features being added in the name of safety, like the 4D cabin radar, customizable parental controls, and extreme body strength.
In fact, Tesla vehicles are so safe, you might be denied a driver’s license because your vehicle is too safe. That’s something that only Tesla could pull off.
But why does this matter? Safety is safety, right? In fact, the data that proves just how safe Tesla is helps build both consumer and regulatory trust, which in turn facilitates initiatives like the recent Robotaxi pilot. A safer car is a better car, which helps drive demand and fuel the growth of the fleet. That also means more data, which can be used to make the fleet safer.
Pillar 2: Total Cost of Ownership
The report also makes a compelling case that this best-in-class vehicle safety is now as affordable as mass-market alternatives when measured over the vehicle's total life cycle.
That is known as the Total Cost of Ownership, or TCO. The Model Y RWD has a TCO of $0.74/mi. In comparison to popular ICE competitors, like the Honda CR-V ($0.74/mi) and the Toyota RAV4 ($0.76/mi), the Model Y is a stellar competitor. When you look at comparable luxury SUVs like the BMW X3 ($1.19/mi), this number looks even better.
While the initial buy-in cost of the Model Y is higher, the TCO lowers due to many reasons. The lower cost of electricity to power the Model Y, the lower cost of ongoing maintenance, and the likelihood that the vehicle will stay on the road for longer all matter here.
Teslas have the lowest maintenance & repair costs of any brand pic.twitter.com/wmZdT5DOM5
— Tesla (@Tesla) May 19, 2025
EVs, and Teslas in particular, have lower maintenance costs compared to other vehicles. That all adds up over the years when the only things you need to replace are washer fluid, wipers, and tires, versus a whole litany of consumable parts and oils in an ICE vehicle.
Tesla needs to shatter the perception that EVs are prohibitively expensive by focusing on the total cost, which includes fuel, maintenance, insurance, and depreciation. This affordability expands Tesla's addressable market far beyond the premium segment, which is essential for growing the fleet. Combining that low TCO with safety is the key to mass-market adoption, which also helps to drive safety and data collection for FSD.
Pillar 3: Tesla Energy
The quiet winner of Tesla’s recent Earnings Calls and this Impact Report has been Tesla Energy, which supports the fleet, while also being a massive, rapidly growing business in its own right.
There are three key parts to this - the first is Megapack. Tesla has scaled Megapack deployments by 110% year-over-year since 2023, making an enormous impact on grid sustainability through the provision of energy storage and grid-forming services.
Alongside Tesla’s Autobidder and Opticaster software, which help make better use of renewables on the grid, Megapack can effectively double grid capacity when used correctly.
Alongside Megapack, Powerwalls are also making an impact. Over 100,000 Powerwall units are enrolled in Virtual Power Plant programs across the globe, which help manage and reduce grid fluctuations, while allowing customers to benefit from the ability to buy and sell energy. For many, it can yield a tidy profit per Powerwall, sometimes around $50-$100 USD per month.
Tesla has also achieved scale in energy. Giga Shanghai came online in Q1 2025, which brings Tesla Energy’s total global capacity to 80 GWh. With demand stretching well past 250 GWh, there’s plenty of room for Tesla to continue expanding their stationary energy storage business.
That is exceptionally important, as Tesla’s auto business has faced challenges in the last few quarters. Tesla Energy will be essential in picking up the slack from the loss in vehicle sales, as well as in powering the renewable energy that will ensure the fleet is more sustainable than ever.
Wrapping Up
Putting it all together, the 2024 Impact Report tells us that Tesla has a plan. Superior safety creates a desirable product. A low cost of ownership makes that product accessible to everyone. A booming energy business powers the whole ecosystem sustainably and profitably. Each pillar reinforces the others, creating a cycle that is accelerating Tesla's growth and its mission.
