Tesla’s second-quarter results may be headlined by its $1.1 billion of GAAP net income, but its energy division achieved some incredible milestones as well. In Q2 2021, energy storage and solar deployments tripled year-over-year, hinting at strong demand for products like the Powerwall and the Solar Roof. Tesla noted in its Q2 2021 Update Letter that energy…
A major Tesla milestone was announced yesterday — the all-electric automaker just surpassed over $1 Billion in GAAP net income. But that doesn’t mean it’s time for complacency. During Tesla’s Q2 earnings conference call, CEO Elon Musk said, “If you look at history, often, the seeds of defeat are sown on the day of victory. We will endeavor…
Rivian plans to initially invest $5 billion on its second US assembly plant, dubbed “Project Tera.” Rivian aims to start construction on its second assembly plant by the fall of 2021, coinciding with the beginning of R1T deliveries in September. The investment is projected to build a plant that would support more than 10,000 jobs.…
Today, Ford Motor Company announced that it will establish Ford Ion Park, an electric vehicle battery cell production and research and development facility. The Michigan automaker will stay in its home state for this new project, launching the site in Romulus, MI, keeping with its 2010 announcement to make the state Ford’s center of excellence…
Following Tesla’s (NASDAQ: TSLA) second-quarter Earnings Call that took place on Monday evening, analysts tasked with following the automaker’s stock have revised their price targets, working to unravel the massive beat that the company reported. Here is a quick rundown of what a few analysts are saying and how their outlook of the stock has…
Tesla CEO Elon Musk joined the likes of Apple’s Steve Jobs and Amazon’s Jeff Bezos as CEOs who will not regularly attend their company’s Quarterly Earnings Calls. While it came as a shock and disappointment to many, it is not necessarily a bad thing, especially considering Musk has more than secured himself as a CEO…
It took some time, but it appears that the time has finally come for Tesla to attempt a legitimate lap record around the world’s most iconic racetrack, Germany’s “Green Hell,” the Nürburgring. And if recent spy photos of a Model S Plaid are any indication, it seems that Tesla is currently testing its flagship sedan…
Just recently, Elon Musk confirmed that Tesla’s Supercharger Network would be opened to other electric vehicles later this year. More details about this upcoming initiative were shared in the second-quarter earnings call, including the process involved for non-Tesla EVs to access a Supercharger station, as well as the pricing for the service. According to Elon Musk, owners…
Tesla recently revealed that Gigafactory Shanghai has fully transitioned to being the company’s primary export hub. Giga Shanghai has been instrumental to Tesla’s record deliveries this year, so it may not be surprising that it has become the company’s main export center. “Due to strong U.S. demand and global average cost optimization, we have completed…
Tesla provided an update on Cybertruck production during the latest earnings call. The company announced that it would be moving towards Cybertruck beta production later this year in Gigafactory Texas. In its Q2 2021 Update Letter, Tesla stated it was making progress on the industrialization of the Cybertruck and plans to start production on the electric…