**Tesla Shares Surge 8% After Strong Q3 Results and Promising Future Plans**

Tesla's shares experienced a significant surge of nearly 8% in after-hours trading following the company's announcement of robust third-quarter results. The electric vehicle giant reported a record-breaking Q3 volume, driven by an increase in vehicle deliveries both sequentially and year-on-year.

According to Tesla's latest earnings deck, the company delivered 462,890 vehicles in the third quarter, marking a 6.4% increase from the previous quarter. This also surpasses the 435,059 vehicles delivered during the same period last year. However, the figures narrowly missed the Wall Street expectation of 463,897 deliveries, as reported by Bloomberg.

Tesla highlighted the successful ramp-up of the refreshed Model 3, which achieved higher total production and reduced costs of goods sold quarter-over-quarter. Additionally, the production of the Cybertruck increased sequentially, achieving a positive gross margin for the first time.

Despite Tesla’s strong performance, investors and analysts sought more details regarding the recently unveiled Cybercab robotaxi at the "We, Robot" event, which took place at the Warner Bros. studio lot in Burbank, California on October 10. Analysts were particularly interested in the development and detailed testing plans of Tesla's sub-$30,000 EV, known as the Model 2.

Amid these developments, Tesla remains on track to launch its new, more affordable models in the first half of 2025. CEO Elon Musk has emphasized that the introduction of a cheaper EV could be a significant driver for the next surge in EV sales.

In other notable achievements, Tesla announced that its Energy Generation and Storage business achieved a record gross margin of 30.5% in Q3. The company projects that this segment will more than double year-over-year in 2024.

As Tesla gears up for 2024, the company anticipates slight growth in vehicle deliveries, bolstered by continued advancements in its product lines and new offerings.