Robotaxis driving around Austin. A humanoid robot serving popcorn in Los Angeles. A Tesla delivering itself to a customer. Tesla Chief Executive Elon Musk is telling investors the carmaker’s future is closer than ever—and it doesn’t depend on selling electric vehicles.

Musk glided past Tesla’s falling sales and loss of profits from car sales and EV credits on a call with Wall Street Wednesday evening as he described Tesla as a company in transition. He encouraged investors to look past Tesla’s poor financials and focus on its recent achievements with autonomous robotaxis and robots, which he said could make the shrinking EV maker into “the most valuable company in the world.”