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

By Karan Singh
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

How to Set Up Tesla USB Drive for Music; Supports Lossless Audio

By Karan Singh
Not a Tesla App

While Tesla supports a variety of music streaming services, including YouTube Music, Apple Music, and Spotify, there may be times you want to listen to music from a local USB drive.

While Bluetooth is also an option, you’re limited to what’s available on your phone and the lower streaming quality of Bluetooth.

In this guide, we’ll go through the benefits of having music on a USB drive and how to set it all up.

Benefits of Music on a USB Drive

Having music stored locally has several benefits. First is audio quality; since you’re under full control of the bitrate of the content, you can encode or buy music at much higher quality when compared to steaming content from Spotify or another streaming service. Tesla even supports FLAC’s lossless audio, letting you experience the best audio experience in your vehicle.

Local music also doesn’t require an internet connection, so if you frequently traffic through areas with a spotty connection, you may prefer to have music locally on hand.

While streaming content is convenient, you can be limited by the content that’s offered. If you prefer foreign music or other music that’s not available on a music service that Tesla supports, local content could be a great option.

Lastly, having music on a USB drive is a great option if you don’t subscribe to a music streaming service or don’t pay for Premium Connectivity in your Tesla.

Step 1: Use the Right USB Port

Not all USB ports in a Tesla support data transfer. While some models have USB data ports in the rear console or center console, they do not support media playback and can only be used to charge a device.

Instead, your best bet is to use the USB port inside the glovebox, which is designed for both dashcam video storage and music playback. While some vehicles may also support data transfer through the USB ports in the front console, not all of them do. Older vehicles may not have a USB port in the console, and you’ll be limited in using the USB ports in the console.

Important: You cannot play music from a phone, tablet, or external music player over USB—only from a properly formatted USB storage device.

Step 2: Format Your USB Drive

Every new Tesla comes with a high-speed USB drive pre-installed in the glovebox, formatted for Sentry Mode and Dashcam storage. If your vehicle didn’t come with one, or you want to use a larger or separate drive for Sentry Mode or music, you’ll need to format it first.

How to Format a USB Drive in Your Tesla

  1. Insert your USB drive into the desired USB port.

  2. Navigate to Controls > Safety > Format USB Drive

  3. Wait a few seconds (it may take longer for large drives), and the system will format the drive and create the necessary folders (e.g., for Sentry Mode and Track Mode).

💡 Tip: Use a high-speed, high-capacity SSD for the best experience. Regular flash drives work, but SSDs provide faster loading times and more capability.

Step 3: Add Your Music

Once your USB drive is formatted, unplug the USB drive from your Tesla and connect it to your computer to add your music files.

Organizing Your Music:

Create a folder called Music at the top level of the USB drive. All music must be added to this folder.

You can organize the music however you prefer, and you’ll be able to view the folders in the vehicle when selecting music. Most users prefer to have folders that include the name of the artist with subfolders for the album name, but how you organize the content is completely up to you.

If your music files content metadata such as song title, artist, album, etc, it will automatically be displayed in Tesla’s media player.

Supported Audio Formats

Tesla’s music player supports a variety of audio formats, including wave, MP3, and FLAC (lossless), but it does not support AAC (Apple's iTunes format). If you have AAC files, you can convert them to MP3 or FLAC before transferring them.

Step 4: Play Your Music

Not a Tesla App

Once you’ve transferred your music, you can bring it back to your Tesla.

  1. Insert the USB drive into the front console or glovebox port.

  2. You’ll now have a new app under the all apps menu called USB.

  3. The USB app will let you view all of your supported audio content on the USB drive. You’ll be able to view the content by song, artist, album, genre, and folder structure.

First-time indexing of audio content may take a few seconds (longer for larger drives). Tesla re-indexes the drive every time the car wakes from sleep, so keeping the total file size under 30GB ensures faster access.

Voice Commands and Search

While music stored on the USB drive will behave much like other content that’s played over streaming services, there are a few limitations.

Voice commands can not be used to play a specific song or artist from your USB drive. If you ask the vehicle to play any content, it’ll default to one of the music services.

Music search is also not supported. While search will show content from all music services that aren’t hidden, it will not include music from your USB drive.

Enjoy the Best Sound Tesla Has to Offer

Tesla’s audio system is meticulously engineered for a premium sound experience, and playing lossless audio over USB takes full advantage of that. If you’re an audiophile, this setup ensures you hear your music in its purest form—no compression, no interference, just crystal-clear sound.

Now, plug in, press play, and enjoy the ride.

Tesla Cybertruck Features Coming: New Suspension Controls, Rockers and Free Cyber Wheel Caps

By Karan Singh
Not a Tesla App

Another month brings another exciting update packed with Cybertruck news. Grab your stainless steel mug and join us as we dive into the latest developments, from new features to upcoming products—all things Cybertruck.

This recap covers news from early January to early February, keeping you updated on the latest updates and what’s coming next for the Cybertruck.

Off Road Armor & Rockers Coming Soon

The prototype Off Road Armor in all its glory.
The prototype Off Road Armor in all its glory.
Not a Tesla App

Back in 2024, Wes Morril (Cybertruck’s Lead Engineer) and Siddhant Awasthi (Cybertruck’s Program Manager) teased the arrival of off-road armor, expected to launch for customer purchase in Winter 2024. Unfortunately, that hasn’t materialized.

But there’s good news. Wes recently showcased the prototype off-road armor and side rockers, confirming they’re on the way. Tesla plans to add them to the store by the end of March. Pricing details are still unknown, but since this armor covers the entire underbody of the Cybertruck, it’s safe to assume it won’t come cheap.

Wheel Cover Supply Confirmed

Tesla has been working hard to get Cybertruck wheel covers to early owners. While new deliveries now come with them pre-installed, some customers— including those who received their Cybertrucks as far back as March 2024—are still waiting.

According to Siddhant Awasthi, Tesla has secured a supply of the covers, but distribution remains a challenge. So far, about 32% of eligible owners have received theirs, with more shipments on the way.

In the meantime, Tesla is offering complimentary Cyber Wheel Caps to owners still waiting for their covers. These will be sent out for free, with email notifications already rolling out.

Air Suspension Controls and Improvements

Strangely, the Cybertruck still lacks the ability to control vehicle height from the app—a feature that would be incredibly useful for off-roading and just cool to have in general.

The good news is that Siddhant Awasthi recently hinted that improvements to the air suspension controls are on the way, along with other unannounced feature upgrades.

Could this mean more advanced vehicle leveling, finer height adjustments, or even the ability to drive in High mode at faster speeds? We’ll have to wait and see, but we’re definitely excited to find out.

Cold Weather Update Delayed

The Cybertruck continues to face regen and charging issues, and although a fix may arrive in update 2025.2, that update has yet to hit the Cybertruck.

We reached out to Tesla Service for an update. While they previously stated the fix would land in 2025.2, they now say it’s “coming soon,” so it’s unclear whether we’ll even get those fixes this winter.

RWD Cybertruck Coming Soon, EV Rebate Available Now

In case you missed it, the RWD Cybertruck is expected to arrive soon, and the Dual Motor variant now qualifies for the Federal EV Rebate in the U.S.

The RWD model will likely launch with a few feature omissions, including:

• A manual tonneau cover instead of an automatic one

• Potentially optional PowerShare functionality

• Internal and rear AC outlets may also be missing

You can dive into all the things that may be different with the RWD Cybertruck.

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