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

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Tesla’s Hollywood Diner: In-Car Controls & Theater Screens Turned On [VIDEO]

Sky Fox

Tesla has been quietly building something pretty unique on the streets of Hollywood—and we’ve been keeping a close eye on it. That’s right: the long-anticipated Tesla Hollywood Drive-In, Diner, and Supercharger is shaping up to be one of the most creative approaches to EV charging yet.

But this isn’t your average Supercharger site. It features a retro-futuristic, 24-hour diner and an outdoor movie theater, blending the charm of the 1980s with the tech-forward vibe of the 2020s.

Construction has been underway for quite some time, with the Cybertruck-inspired stainless steel structure going up around mid-2024. And more recently, we spotted hints in the Tesla app that the Diner’s debut is getting close.

Diner Controls in App / Car

Tesla hacker Greentheonly managed to spot some new evidence of changes within Tesla’s 2025.8.6 software build, which includes a new modal for “Charger Diner Controls”. While there isn’t anything to activate this new modal just yet, it is an indication of how Tesla intends to integrate the experience right into each and every Tesla.

The text in the modal reads: “Plug in, place your order, recharge” - which means that once you arrive and are plugged in, you’ll be able to place your order - and likely pay through Tesla’s payment system. It seems like this will all be done through either the Tesla app or the vehicle’s tocuh screen. No need to fumble with a separate app or pull out your wallet.

This is definitely a level of integration you just can’t have anywhere else - and just like any other Supercharger site, the Tesla Diner will appear as a suggested site for charging when you’re navigating or looking around the Hollywood area.

This is our best look yet at the two 45-foot LED screens at @Tesla's upcoming Hollywood diner and Supercharger.

We can also see the second Supercharger lot on the left with solar canopies. This will be one of the largest Supercharging spots in North America. pic.twitter.com/aWUe67M5vw

— Sawyer Merritt (@SawyerMerritt) April 18, 2025

45-Foot Screens Ready

Those two absolutely gigantic 45-foot LED screens have now been turned on for the first time, meaning that Tesla is likely close to opening the Supercharger site. The screens were spotted displaying some test patterns, as well as some Tesla-themed content. It really brings the construction site to life - and it's the clearest sign that the Diner is well on its way to completion.

We’re hoping that this first Tesla Diner sees plenty of success - and that Tesla begins opening more of these types of facilities throughout North America, and eventually globally. Given Tesla’s penchant for unique Superchargers, we imagine this could truly be the case one day.

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Tesla’s FSD V13 Pushes HW4 Hardware Capabilities; End of Line for HW3?

Not a Tesla App

As Tesla continues to push the capabilities of its hardware as it prepares for autonomy with FSD Unsupervised, there has been a distinct divergence in features between HW4-equipped vehicles on FSD V13, and HW3-equipped vehicles on FSD V12.6. 

There are definitely reasons for this, and Tesla hacker Greentheonly, over on X, went into great detail on some of the reasons why this divergence has continued and is likely to continue.

If you’re interested in some background, we recommend the following articles. Although they’re not necessary, you may enjoy reading them before diving right in if you enjoy this topic.

• How FSD Works - Part 1

• How FSD Works - Part 2

• How Tesla Optimizes FSD

• Tesla’s Universal AI Translator

Back in the summer of 2024, we reported that Tesla’s HW4 had yet to reach its full potential, and that HW3 still had some compute to work with. However, FSD has undergone a rapid evolution - there are now fundamental differences driven by the hardware capabilities and sheer scale of the latest builds of FSD.

FSD V13’s Gargantuan Neural Networks

FSD V13 is a substantial leap for Tesla. It features substantially larger neural networks - the core brain that processes all the environmental data and makes decisions. Those networks are far larger in V13 than in V12, which results in a much smoother and human-like expereience.

Tesla’s FSD computers contain two nodes. According to Green’s analysis of FSD V13, Node B, which handles the actual end-to-end driving logic, tripled in size from 2.3 GB in V12 to a staggering 7.5 GB in V13. That’s a substantial increase, and one of the main reasons why HW3 can’t handle FSD V13. While Interestingly, Node A on HW4 remains similar in size to FSD V12, using up about 2.3 GB.

However, this massive size is also pushing the limits of HW4. While this isn’t necessarily a big problem immediately - at the end of the day, there is a limited amount of compute and ram available and model sizes will likely grow in the future. In fact, Tesla is planning to scale model sizes in the next FSD version and has already said they’ll need to optimize them, as context size is limited by on-board memory.

HW3 Limitations

Since HW3 can’t run the latest FSD models, where does this leave millions of Tesla vehicles equipped with the now-legacy FSD hardware? Are they hitting a dead end? Not exactly - Tesla has promised to replace HW3 computers with new units during the Q4 2024 Earnings Call, but only for those who have purchased FSD and only if Tesla is no longer able to update HW3 vehicles.

There’s no doubt Tesla hopes to achieve autonomy and then work backwards to make it compatible with HW3, but that’s unlikely to happen with the limited ram available on HW3.

Tesla’s AI team has continued to say that they’re still working on updating HW3 vehicles - but that they will be taking a backburner to updates for HW4 until the team can optimize the model efficiently enough to run on the smaller footprint. That means V12.6 isn’t just V13 “lite” - it is a distinctly different software branch tailored specifically for HW3’s capabilities.

Green's analysis showed that HW3 under V12.6 runs NNs totaling 1.2 GB on Node A and 3.1 GB on Node B, which is significantly smaller than the footprint of V13. Back in November, we discussed how Tesla is running a smaller and optimized FSD model on HW3, with the specific goal of achieving similar performance to V13. FSD V12.6 appears to be the current implementation of that smaller model strategy.

Green also found that of the total neural nets used for FSD, 135 are shared between the current V12.6 and FSD V13.2 releases, which is the result of Tesla’s AI team working to optimize and refine the V13 model for HW3. So some neural nets are shared between the two sets of hardware, while others are specific to HW3 or HW4.

AI4 in the Future

The fact that V13 is already stretching HW4’s limits makes us wonder about Tesla’s imminent release of AI5. Last year, Tesla mentioned that AI5 would be 18 months away - which is now about 8 months away, and potentially even sooner to help solve the autonomy problem.

At the same time, Tesla is looking to launch Unsupervised FSD in June in Austin, Texas, with presumably HW4, which would indicate that they’re confident in its capabilities.

Unless Tesla launches the Robotaxi network with AI5, we don’t believe AI5 will be a “must have” item. Undoubtedly, it will result in similar improvements to HW4 compared to HW3. However, the software needed to take advantage of the newer hardware could still be years away.

All eyes will be on Tesla’s Robotaxi network launch and the hardware required for it. For now, HW4 owners are in good hands with future updates are on the horizon, and we’re certainly excited for what’s next.

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