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.

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Tesla Updates Energy App in Update 2025.8.3: Adds Reset and Distance Filter [VIDEO]

@EV3_Model3 on X

Tesla recently launched software update 2025.8.3, which included a bunch of “minor updates.” Nestled away in the release notes are a couple of interesting features - including some major changes to the Energy App.

We’re not quite sure we’d call these minor updates, so let’s take a bit of an exploration of the revitalized Energy App.

Select Distance in Energy App

The Energy App has received some new categorization features in the Consumption tab. You can once again limit the graph by distance. As part of the 2024 Holiday Update, Tesla redesigned the consumption tab and brought it to the new Model S and Model X for the first time. However, with the redesign, Tesla removed the ability to choose the distance shown in the graph, instead providing a static display of the last 200 miles (300km). 

The first part of the improved Energy App is bringing back this distance filter. You can now choose between showing the last 10, 100, or 200 miles (15, 150, or 300 km). This differs from the previous available distances of 5, 15 and 30 miles, but brings back the ability for the driver to choose a distance that may be more applicable to how they’re driving.

We’d love for Tesla to introduce custom distances by pinching and zooming the graph or simply add the ability to choose “This Drive Only” to the list of available distances.

Reset Energy App History

@EV3_Model3 on X

Sadly, the “Instant Range” button that was available in the Energy App before is still not available, but Tesla introduced a new feature that may be even better. You can now clear your driving history so that the graph only reflects your current driving style.

This is a little hidden, but if you tap the little info icon at the top near your average Wh/mi, you’ll now be presented with a dialog that lets you clear your history.

This could be useful if you’ve just come from some hard driving on a track or off-road, where energy consumption could be exaggerated. It could also be useful if you just started towing or a different type of driving that is drastically different from your current driving.

Other Changes

In addition, it looks like future predictions of the Energy app now take into account your driving history and apply that in addition to expected vehicle consumption, weather, altitude, and the multitude of other factors that your Tesla constantly takes into account while calculating your expected range.

While these are smaller improvements to the Energy app, they added some important functionality, as it helps users better understand their vehicle consumption and display data that is more applicable to the current driving style.

This is a great example of Tesla listening to its customers and bringing back features they had previously been removed. Check out the video below by akide on the updated Energy app in update 2025.8.3.

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Franz and Lars Discuss the Tesla Cybercab in New Interview

Munro Live

Sandy Munro once again had the opportunity to chat (video below) with Lars Moravy, Tesla’s Vice President of Vehicle Engineering, as well as Franz Von Holzhausen, Tesla’s Chief of Vehicle Design. This time, rather than focusing on the improvements to the refreshed Model Y and all the new engineering behind it, the focus was on Tesla’s autonomous ambitions.

In this case, the Cybercab and Robovan were the key highlights, with a distinct focus on the Cybercab. With that all said, let’s dig into all the fun new stuff. You can check out the entire video at the end of the article.

Cybercab Unboxed Process

The Cybercab will be the first of Tesla’s vehicles to use their new unboxed assembly process, which builds vehicles in parallel sections, and then brings them together all at once for final assembly. Traditionally, vehicles are assembled from the ground up, and sometimes even disassembled for parts of production to take place.

This innovative method involves using a big rear and front casting, brought together by a structural battery pack on the floor. The door rings are hot-stamped and laser-welded to form the side shell of the Cybercab, resulting in a very rigid structure that can also absorb crash impacts due to its unique manufacturing.

Paint-Free Panels

We’ve already talked about the Cybercab’s unique paint-free panels, but we’ve never heard until now exactly how Tesla intends to manufacture them. Tesla will inject colored PU plastic onto the backside of another plastic part (formed from various processes) and then ultrasonically weld that entire piece to an inner part.

That essentially combines multiple parts into one smooth piece that is easy to repair - because all you have to do is remove the entire panel - it just comes off as the interior fasteners are removed. There is no subframe holding it together - instead, the subframe is part of the panel.

The only area of the vehicle that will have any paint will be the hot-stamped door rings - which will be painted to improve corrosion resistance to protect the steel.

Aerodynamics

Aerodynamically, the Cybercab boasts the largest aero-cover-to-wheel ratio of any Tesla vehicle. This updated aero cover improves efficiency, even with the Cybercab’s relatively large tires—chosen to reduce rolling resistance. Interestingly, the impact of unsprung weight on efficiency is minimal compared to the benefits of improved rolling resistance and aerodynamics.

Another key to the aerodynamics is the teardrop shape of the Cybercab itself. With its low profile and smooth shape, it is extremely aerodynamically efficient. While neither Sandy nor Lars delved into drag coefficients, we expect it will likely be more efficient than the Model 3’s already fantastic Cd of 0.219.

Range and Battery Pack

Tesla currently has prototypes undergoing real-world testing at Giga Texas to evaluate range and efficiency. The goal is to ensure the vehicle can operate throughout an entire day in the city before returning to charge.

Tesla is targeting a battery pack under 50kWh, delivering close to 300 miles of real-world range—an impressive efficiency of around 166Wh/mi, even outperforming the Model 3’s lowest at 181Wh/mi.

When Does It Arrive?

So, with all that new knowledge - when does the Cybercab arrive? Well - the prototypes for the June Robotaxi network deployment in Austin are getting prepared now - but Tesla expects to begin production and sales sometime in the first half of 2026.

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