Too Hard and Annoying to Invest, Tesla News Summary
- Tesla Announces Second Quarter Earnings
• Non-GAAP EPS of $0.40 beat market expectations ($0.39)
• Revenue came in at $22.5 billion, slightly below forecasts ($22.7 billion)
• GAAP-based net income of $1.17 billion
• Tesla Energy Division’s Q2 Revenue Gross margin Hits 30.3%
• Cash holdings fell by $200 million, totaling $36.8 billion
• Free cash flow tallies at $100 million - Robotaxi Business Expands Nationwide Beyond Austin
• Tesla Says Austin’s Robotaxi Experiment Is “Nationally Expanded, Not Regionally Expanded” and Can Quickly Expand to Other Cities With Small Investments - LFP Batteries Start Production in U.S
• Tesla To Begin Production Of LFP Cells For Energy Storage Products In U.S. At The End Of This Year - First FSD (supervisor) test begins in London
• Tesla confirms first FSD (supervisor) test in London - FSD cumulative driving exceeds 1 billion miles
• Q2 2025, FSD (supervisor) cumulative mileage exceeds 1 billion miles
• An average of 11 million miles a day, the highest number ever - Robotaxi Extensions, “Will Run Within Weeks”
• Elon Musk: “Tesla’s Robotaxi Expansion Will Overwhelter Competitors,” Says Says Plans To Expand In Weeks - Half of U.S. Population Targets Self-Driving
• Musk Announces Making Self-Driving Cars Available to Half of U.S. Population By End of 2025
• Expanding to Florida, Arizona, California, Nevada, etc - FSD Europe Approves Soon
• FSD approval has not yet been granted in Europe, but approval in the Netherlands is imminent and plans to expand the entire EU thereafter - References to deregulation drive
• Says it plans to ease regional regulations on the use of FSD, with the aim of resolving user complaints - “Autonomy Is Tesla’s Key Value”
• Musk: “Autonomy Is Key To Tesla’s Value Amplification” - Special mention of the ‘Diner’ project
• Musk Reveals Pride By Describing Tesla’s Diner As “Lighthouse Of Hope” - Prospects for existing hardware improvement
• FSD hardware improvements can increase the number of parameters by 10x compared to previous ones, and expect continuous performance improvement - Musk: “We are the best AI experts in the real world”
• Tesla Says It’s Ahead Of Real-World AI Compared To Google, Waymo - Optimus Version 3, Prototype Unveiled by End of Year
• Optimus V3 is a large-scale product with a “sophisticated design” that will be unveiled at the end of this year and planned to be mass-produced in 2026 - Emphasis on Robotic Taxi Execution
• Musk: “I keep my word. Sometimes it’s late, but I make sure I do it.” - CFO: Some Incentives Will Be Withdrawn
• U.S. vehicle policy already in place, plans to roll back some incentives as supply limits - Increased FSD purchases
• Increasing number of FSD buyers in recent months - Self-driving cars to be delivered at the Fremont plant
• Expects First Delivery Of Self-Driving Vehicles At Fremont Factory To Start At The End Of This Year - Optimus Production Outlook: “Not 100,000 units per month will be a surprise”
• Musk: Targets 100,000 Robots to Produce Monthly Within Next Five Years - Announcement of the launch of low-cost models at the end of 2025
• Tesla Announces Plans To Launch Cheaper Model In Q4 2025 - Design Studio’s Vision
• Design Director Franz: “Studio Innovation Is Tesla’s Future” - Preparing a new master plan
• Musk: “Tesla’s Future Will Fundamentally Change the World,” Forewarned Master Plan - FSD Unsupervised Priorities
• Emphasis that the completion of FSD unsupervised functionality takes precedence over the completion of HW4 vehicles - HW5 Targets Bulk Production By End Of 2026
• AI5 (HW5) Chip Planned to be mass-produced at the end of 2026, However, there is a possibility of delay to early 2027 - Dojo 2, in operation in 2026
• Dojo 2 to operate with approximately 100,000 H100 units in 2026 - Robotaxi Expected to Contribute to Earnings Late Next Year
• Musk: “From the end of 2026, financially meaningful earnings will be generated” - Musk’s Concerns Over Control Issues
• Musk: “13% Voting Rights Unnerved Of Tesla’s Propulsion Of AI, Robot Vision. Will Be Discussed At Shareholders’ Meeting” - HW5 Concerns Over Performance Over Export Restrictions
• HW5 chip performs so well that it is likely to exceed export restrictions outside of the U.S. that it is considering weakening - Competitors Break Down Tesla Presentation Frame by Frame
• AI Day announcement is being benchmarked by competitors - 25% increase in FSD utilization after V12 update
• Tesla Says FSD Utilization Up 25% After V12 Update - Half Tesla Owners Never Used FSD
• Musk notes 50% of FSD-enabled vehicle owners have no experience using it