Tesla has published its Q2 report. Revenue in Q2 was up 47 percent year on year to US$25 billion (180 billion yuan), beating the market expectation of US$24.5 billion. Net profit also rose 20 percent to US$2.7 billion, higher than the anticipated US$2.4 billion.
Tesla produced 479,700 EVs, and delivered 466,100 of them, up by over 80 percent in both cases.
Taxis and trucks
CEO Elon Musk has frequently expressed his willingness to sacrifice short-term profits to gain market share, and the gross profit margin has duly declined from 19.3 percent in Q1 to 18.2 percent now, its lowest level in nearly three years.
During the earnings call, Musk reiterated Tesla's plan for robo-taxis, emphasizing significant demand for autonomous ride-sharing services. Musk also said Tesla's Cybertruck will be delivered later this year.
Dolls and Dojo
On the subject of androids, Musk said that Tesla has made 10 prototypes, and walking tests are scheduled for November, followed by practical testing next year.
Both the robot and autonomous driving businesses are closely linked to artificial intelligence and Musk is excited by his Dojo supercomputer. Dojo is Tesla's own design of supercomputer based on Nvidia GPUs.
A new Dojo is set to use Tesla's own chips. The company plans to invest over US$1 billion in the Dojo project by the end of 2024. R&D expenses in Q2 rose from US$771 million in Q1 to US$943 million, including the Dojo project.
