Missed Tesla's Q2 Earnings Call? Read Our Bullet-Point Summary of Everything Announced

Not a Tesla App

Did you miss Tesla’s Earnings Call, or just want to see a summarized version? We’ve got you covered. Below is an outline of everything talked about during Tesla’s earnings call and Q&A session.

EV Market and Giga Factories

• Strong EV adoption, despite short-term challenges.

  • Positive long-term outlook

• Future vision for an all-electric future, including boats and planes.

• Possible vehicle tariffs for Mexico means that Giga Mexico is on hold.

• Giga Berlin could serve as a new export point as tariffs are placed on Chinese-built vehicles in Europe.

Production

• Affordable Tesla model expected to be revealed in the first half of 2025.

• Expansion of vehicle lineup, including new trims and paint options in 2024 has helped sales

• Cybertruck production has tripled so far – 1,400 per week, and ramping continues.

  • Expected to be profitable by the end of 2024.

• Model 3 and CT are still being impacted by tariffs as they scale up.

• 4680 cell production improvements

  • 51% more 4680 cells in Q2 over Q1, with a COGS reduction.

  • 1,400 CTs per week on 4680.

  • Tesla is reaching cost-parity with other cells by the end of 2024.

  • First Validation Cybertruck on dry-cathode process has been built and is being tested.

  • Production launch for dry-cathode process in Q4, should drive costs down by up to 50%.

• Tesla Semi factory on track for large-scale production by the end of 2025.

• Giga Berlin has begun producing and delivering RHD vehicles, including to the UK.

• Roadster engineering is complete and expected to see production sometime in 2025.

• Tesla’s guideline for production is 300mi on a single charge.

  • Tesla expects to expand its Supercharging network globally to meet this goal.

  • This seems to be the data-driven distance that Tesla has found most suitable for general driving uses.

FSD, Autonomy, AI

• Tesla continues to work towards unsupervised FSD. Aiming to see unsupervised FSD by the end of 2024, if not the end of 2025.

  • Elon has admitted he’s been overly optimistic in the past.

  • This new estimate is based on current trends in miles per intervention growth.

• Robotaxi event to take place on 10/10/2024.

  • Elon wanted to improve Robotaxi a bit more, and also show off “some other things”

• Tesla is looking to seek FSD approval with V12.5 or V12.6 in Europe, China, and other countries, hopefully by the end of the year.

• Tesla is in talks with multiple OEMs for FSD licensing.

  • OEMs will need 360* camera coverage, a gateway, and Tesla’s AI computers at minimum.

  • Tesla is looking for OEMs to produce over 1m vehicles per year.

  • Disclosure of an agreement will happen in conjunction with the signing OEM.

• Optimus is working in Tesla’s factories in a limited capacity.

  • Limited initial production to begin at Giga Texas in early 2025.

  • Tesla expects to use V1 to iron out bugs internally.

  • V2 is expected through 2026 and will be sold to outside customers.

• Tesla will continue working on DOJO, as acquiring Nvidia GPUs is becoming more and more difficult.

  • Tesla aims to be competitive with Nvidia in the AI GPU space in the future.

• Tesla aims to launch distributed compute alongside its AI5 hardware (formerly HW5).

  • AI5 is expected to launch in late 2025 and be in mass production by early 2026.

  • Distributed compute could use about 100 hours of idle time per week to generate income.

• Grok in Tesla could be a thing of the future, Tesla has learned a lot from xAI.

  • A proposed shareholder vote on investing in xAI could happen soon.

Tesla’s Financial Performance in Q2 2024

• Record quarter for regulatory credits.

• High interest rates globally have impacted sales and revenue per unit.

  • Tesla has offset rates in the US through competitive financing rates and expects to continue this into Q3 2024.

• Service and Merchandise profits have improved incrementally this quarter.

• Energy Storage deployments doubled between Q1 to Q2, leading to record revenue and profits.

• Tesla has a positive cash flow of $1.3 billion after restructuring this year.

  • Restructuring cost approximately $622m

  • Total free cash float of $30B.

• Capital expenditures of approximately $10B this year but beginning to come down.

  • This includes the money already spent on the new AI supercomputer cluster.

Energy Storage and Deployment

• Tesla’s Megapack factory production continues to ramp up, new Shanghai Megafactory is well in progress.

  • After the completion, current production is expected to double or triple.

  • Tesla is currently constrained by production.

• Powerwall 3 is now available in multiple countries, and demand is exceptionally high.

• There is a long pipeline between purchase and delivery for Megapack, Tesla has good pricing leverage and is working with global energy providers.

• Chinese OEMs are competitive, but Tesla offers a full software stack, including Auto Bidder with its Megapacks.

• New Megapack demand lines:

  • Buffer for power plants – Megapack can buffer power plants so they can run at a steady state, improving power production and efficiency by 2-3x.

  • AI and Data Center backup – AI compute is power-hungry, and data centers are now looking to Megapack to provide battery backup.

Watch Earnings Call

Follow

Follow

Follow

Tesla FSD in Europe: June Update

Not a Tesla App

The road to bringing FSD to Europe has been a long and complex one and filled with regulatory and bureaucratic hurdles. Elon Musk, as well as other members of Tesla’s AI team, have previously voiced their grievances with the regulatory approval process on X.

However, it appears that there is finally some progress in getting things moving with recent changes to upcoming autonomy regulations, but the process still seems slow.

Waiting on the Dutch

Elon commented on X recently, stating that Tesla is waiting for approval from Dutch authorities and then the EU to start rolling out FSD in Europe. Tesla is focusing on acquiring approvals from the Dutch transportation authority, which will provide them with the platform they need to gain broader acceptance in Europe. Outside of the Netherlands, Tesla is also conducting testing in Norway, which provides a couple of avenues for them to obtain national-level approval.

The frustration has been ongoing, with multiple committee meetings bringing up autonomy regulation but always pulling back at the last second before approving anything. The last meeting on Regulation 157, which governs Automated Lane Keeping Systems, concluded with authorities from the UK and Spain requesting additional time to analyze the data before reaching a conclusion.

Tesla, as well as Elon, have motioned several times for owners to reach out to their elected representatives to move the process forward, as it seems that Tesla’s own efforts are being stymied. 

This can seem odd, especially since Tesla has previously demoed FSD working exceptionally smoothly on European roads - and just did it again in Rome when they shared the video below on X.

FSD Supervised testing in Rome, Italy

Pending regulatory approval pic.twitter.com/TXh3uQIfrx

— Tesla Europe & Middle East (@teslaeurope) June 12, 2025

DCAS Phase 3

While the approval process has been slow, Kees Roelandschap pointed out that there may be a different regulatory step that could allow FSD to gain a foothold in Europe.

According to Kees, the European Commission is now taking a new approach to approving ADAS systems under the new DCAS Phase 3 regulations. The Commission is now seeking data from systems currently operational in the United States that can perform System-Initiated Maneuvers and don’t require hands-on intervention for every request.

This is key because those are two of the core functionalities that make FSD so usable, and it also means that there may not be a need to wait years for proper regulations to be written from scratch. Now, the Commission will be looking at real-world data based on existing, deployed technology, which could speed up the process immensely.

What This Means

This new, data-driven regulatory approach could be the path for Tesla to reach its previous target of September for European FSD. While the cogs of bureaucracy are ever slow, sometimes all it takes is a little data to have them turn a bit faster in this case.

Alongside specific countries granting approval for limited field testing with employees, there is some light at the end of the tunnel for FSD in Europe, and hopes are that a release will occur by the end of 2025. With Europe now looking to North America for how FSD is performing, Tesla’s Robotaxi results could also play a role.

Follow

Follow

Follow

Tesla Launches 'TeslaVision' Contest With Big Prizes — See Last Year’s Winner [VIDEO]

Not a Tesla App

Tesla’s marketing has always been relatively unconventional, relying on word-of-mouth rather than traditional advertising. The passion of the owner’s community is always massive, but it is especially high now with the launch of the Robotaxi network just around the corner.

Tesla is now tapping into that spring of fan creativity and announced the TeslaVision video contest, with some seriously impressive prizes up for grabs.

Announcing the TeslaVision fan video showcase

Tesla owners & supporters have always been able to see our products & mission for what they truly are.

Your word of mouth has made Tesla what it is today.

The OGs will remember that in 2017, we held our first video contest. 8 years… pic.twitter.com/6pPpkqmqOH

— Tesla (@Tesla) June 10, 2025

The Contest

The core of the contest is simple. Create a video that shows how your Tesla gives you more in life. Tesla is looking for submissions that highlight themes of freedom, safety, fun, and convenience.

Prizes

The prizes definitely make this contest worth entering if you’re good with a camera and have some basic video editing abilities.

For North America, the prizes include a brand new Model Y AWD Long Range, alongside an all-expenses-paid trip to Austin for a tour of Giga Texas. The grand prize winner will also be able to custom order their Model Y, allowing them to select their preferred wheels and color.

The two runners-up won’t get a Model Y, but they’ll also enjoy an all-expenses-paid trip to Giga Texas for a tour of the factory.

The travel and tour include lodging in Austin for 2 nights, as well as economy-class round-trip tickets from anywhere in North America. Tesla will also provide a vehicle for use during the trip.

Hopefully, these winners will also have the opportunity to experience the Robotaxi network while they’re in Austin, as it’s expected to be opened to the public later this month.

Project Loveday

For long-time followers of Tesla, this contest may feel familiar. The contest is a direct throwback to the 2017 Project Loveday contest, which was inspired by a letter to Tesla from a 10-year-old aspiring marketer. That contest was won by MKBHD, with his submission below:

How to Enter

If you’re ready to start filming, here are the key pieces of information you’ll need to know:

• Video must be 90 seconds or less

• Video must be uploaded to YouTube with a public URL

• Make a post on X and Instagram tagging “@Tesla” and include the words “TeslaVision contest” in the post.

• Provide links to both social media posts in your submission to Tesla’s form

• Provide your personal details in the form

• You have until July 17th, 2025, or until Tesla receives 10,000 entries, whichever comes first.

You can find the official submission form and all region-specific details on Tesla's website.

Follow

Follow

Follow