Tag: tesla
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Tesla Q3 2024 $25.182B revenue, $2.167B Net income
October 23, 2024, Tesla announced revenue of $25.182B up 8% yoy and net income $2.167B up 17% yoy for Q3 2024. https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q3-2024-Update.pdf Automotive revenue hit $20.016B up 2%. Energy generation and storage revenue was $2.376B, up 52% yoy. Services and other revenue was $2.790B up 29% yoy. Cost of goods per vehicle came down to…
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Tesla We Robot event unveiled Cybercab and Robovan
October 10, 2024, Tesla unveil its robotaxi called the Cybercab. The driverless vehicle is expected to cost $30k. Since this is not a firm order, price is only an estimate and could be higher. A recent example is Cybertruck which was introduced at $50k but as of today only the Foundation series is on sale…
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Tesla full self driving roadmap Q3, Q4 2024 and early 2025
September 4, 2024, Tesla published its roadmap for full self driving for the remainder of 2024 and early 2025. September 2024 will get 12.5.2 and will have 3x improvement in miles per intervention. It will be available on AI4/HW4 chips and then get optimized for HW3. End to end on highway. Cybertruck gets FSD October…
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Andrej Karparthy talks Tesla full self driving, Optimus and AI in No Priors podcast
September 14, 2024 The No Priors podcast episode 80 released September 5, 2024 titled “The Road to Autonomous Intelligence with Andrej Karparthy”, talked about Tesla full self driving, Optimus and AI. https://www.youtube.com/watch?v=hM_h0UA7upI Andrej says Waymo’s full self driving took 10 years to go from working demo to production. According to Andrej, Waymo’s solution uses lots…
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Tesla Q2 2024, Revenue $25.5B, +2% Yoy, Operating Income $1.6B -33% yoy
Tesla Q2 2024 revenue is $25.5B, up 2% yoy. Contributors to the increase revenue are: Hurting revenue is Operating income decreased 33% to $1.6B. Cash Total cash at end of Q2 is $30.7B. up $3.9B. free cash flow $1.3B and inventory dropped $1.8B. AI Gigafactory Texas south expansion datacenter progressing. Photo in slidedeck shows glass…
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Tesla Q2 2024 delivered 443,956 and produced 410,831 and deployed 9.4 kWh energy storage
July 2nd 2024, Tesla released their Q2 2024 deliveries numbers. They have sold 443,956 vehicles and made 410,831. In prior quarter, Tesla produced 433,371 and delivered 386,810. In Q2, 2023, it produced 440,808 and delivered 422,875. In Q2, Tesla offered 0.99% 60 month low interest rate discounts rather than lowered vehicle prices. For its energy…
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Waymo automous robotaxi open to all users in San Francisco
Waymo on June 25, 2024, announced anyone can use Waymo automonous robotaxi in San Francisco. https://waymo.com/blog/2024/06/waymo-one-is-now-open-to-everyone-in-san-francisco/ Technology Waymo creates detailed map of the territory before it offers service at a location. When Waymo car combines real-time sensor data with this map, it will know the precise location of where the car is and not solely…
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Tesla investors voted to reapprove Elon Musk’s 2018 compensation plan
At the 2024 June 13th annual shareholder meeting, shareholders reapprove Elon Musk’s 2018 compensation plan. The reincorporation to Texas is also approved. Shareholders wanted to get past this compensation issue and put the focus on to business of growing Tesla and increase shareholder value. The meeting is available at: https://x.com/Tesla/status/1801365676524773721 Some near term accomplishments that…
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Tesla shareholders to vote on Elon Musk’s pay package June 13th 2024
The Tesla 2024 shareholder meeting is scheduled for June 13th 2024. It will be live-streamed on YouTube: https://www.tesla.com/2024shareholdermeeting Shareholders need to vote online or by phone by June 12th 2024 10:59pm Central Time in order for the vote to count. Shareholders are asked to ratify the 2018 CEO Performance Award. The 2018 CEO Performance Award…
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Tesla publishes 2023 Impact Report
Tesla has published its 2023 Impact Report. Summary: https://www.tesla.com/ns_videos/2023-tesla-impact-report-highlights.pdf Slide 23 showed the price of US 2024 Model Y Rear Wheel Drive being lower than the average new car price. Model Y is pried $44,990. Average new vehicle price of all cars is $47,244. If Federal incencent of $7,500 and gas savings are factored in,…
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Tesla Q1 2024 earnings released, Revenue $17.378B down -9% yoy, GAAP Income $1.129B down -55% yoy, diluted EPS $0.34 down -47%
April 23, 2024, Tesla Q1 2024 revenue declined 9% yoy to $23.3B. Slide deck: https://digitalassets.tesla.com/tesla-contents/image/upload/IR/TSLA-Q1-2024-Update.pdf Transcript available at: https://www.fool.com/earnings/call-transcripts/2024/04/23/tesla-tsla-q1-2024-earnings-call-transcript/ Fewer automotive deliveries are the reason, caused by shipping problems, lost of government incentives, a highly competitive EV market and tough interest rate environment globally. The earnings release noted that the industry is moving toward hybrids…
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Tesla SVP Powertrain and Energy Drew Baglino has left Tesla and sold $181 million shares and 10% layoff
April 16, 2024. After 18 years of service, Drew Baglino has left Tesla. He made his announcement on X. https://twitter.com/baglino/status/1779872449628426739 He had made several appearances on earnings calls and investor presentation and made contributions to Tesla’s success. Drew attended Stanford University according to his LinkedIn profile. Losing top talent is not good but it’s inevitable…
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Tesla Q1 2024 delivered 386,810 vehicles and produced 433,371, declined sequentially and -8.5% yoy
In press release on 4/2/2024, Tesla reported they delivered 386,810 vehicles in Q1 2024. Production is 433,371. https://ir.tesla.com/tesla-vehicle-production-deliveries-and-date-financial-results-webcast-first-quarter-2024 Q1 2024 performance is below that of Q1 2023 and Q4 2023. A year ago Q1 2023 was 440,808 produced and 422,875 delivered. Deliveries declined -8.5% yoy. Q4 2023 numbers were 494,989 produced and 484,507 delivered. That…
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Xiaomi introduced its first EV, the SU7 EV to compete with Tesla Model 3
Making an EV in high volume is extremely difficult. Xiaomi, an electronics giant in China known as the Apple of China has introduced its first EV after three years of development. Their SU7 EV launch event presented by Xiaomi CEO Lei Jun is available on YouTube: Xiaomi EV Launch March 2024: https://www.youtube.com/watch?v=DsiyB5Es32s Xiaomi has a…
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Tesla to give FSD V12 demo at delivery time and one month free trial for all FSD supported vehicles
Tesla Full Self Driving (FSD) v12 has been released to more Tesla owners. FSD v12 uses end to end neutral network implementation and is capable of handling a lot more driving situations correctly and more human like. To expand FDS v12 awareness, Tesla is making two new changes. According to tweet of Elon internal email…
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Tesla Q4 2023 revenue, $25.167 Billion +3% yoy, net income $7.928 Billion, 115%
January 24, 2024, Tesla released its Q4 2023 earnings. Revenue was $25.167 Billion increased 3% yoy. Net income was $7.928 Billion up 115% yoy. The yoy comparison has one time non cash tax benefit of $5.9B. Gross margin is 17.6% -612bp yoy. So despite higher volume of cars in 2023, its revenue only rises 3%.…
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Tesla shares off to a challenging start for 2024 due a string of negative development
Tesla is off to a challenging start for 2024. In Europe, Germany is ending the EV subsidies earlier than expected to balance its budget. In response 1/17/2024, Tesla reduced its prices in Germany as reported by Reuters. https://www.reuters.com/business/autos-transportation/tesla-cuts-model-y-prices-germany-after-china-price-cuts-2024-01-17/ New price price dropped Model Y Long Range 49,990 euros -5,000 euros, -9% Model Y Performance 55,990…
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VW PowerCO confirms QuantumScape solid-state battery cell performance.
On January 3 2024, VW’s PowerCO SE group released its findings on QuantumScape’s solid-state battery cell confirming it can hit 1,000 charging cycles and still maintain 95% original capacity. While this isn’t new as QuantumScape (QS) themselves have publicly announced this result in their Q3 2023 shareholder letter, this confirmation by a partner gives confidence…
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Tesla achieves 1.8 million cars delivered in 2023
At the beginning of the year Tesla issued 2023 annual delivery and production to be around 1.8 million vehicles. On January 2nd 2024, they announced their Q4 2023 deliveries and production and have met their commitment. Model 3/Y deliveries for the year is 1,775,159. Q4 2023 earnings will be released on Wednesday January 24, 2024.…