Tesla appears to have dismissed the manufacturing troubles it suffered last year during the closure of COVID, and the company announced a number of “new and notable records” during a call in Q2 on Monday. Not only did Tesla build and deliver 200,000 vehicles during the quarter, an increase of 151 percent over last year, but it earned $ 1.1 billion in net revenue in the same period – a huge tenfold increase over last year. Overall, revenue grew 98 percent from this time last year, in large part thanks to increased Tesla deliveries, although the company suffered $ 23 million in “Bitcoin-related damage” over the past quarter.
In addition, Tesla installed 85 MW of solar capacity in Q2, an increase of 215 percent over last year’s 25 MW, as well as adding nearly 1,000 charging stations to its ever-expanding network. Tesla CEO Elon Musk also revealed more details about the company’s plan to open the Supercharger network for other EV brands later this year.
“At the moment, we think it’s a very simple thing when you simply download the Tesla application, go to the compressor and just indicate which stand you are in,” he explained. “And this should basically work with cars from almost any manufacturer.” Owners other than Tesla could see several limitations in their use of the Supercharger network, Musk pointed out. “If the charge rate is extremely slow, then someone will be charged more.”
“Public sentiment towards EVs is at a turning point and, at this point, I think almost everyone agrees that electric vehicles are the only way forward,” Musk said during the call. However, he noted that the continuing global shortage of microchips still remains a force that trains vehicle production. “As far as the supply chain is concerned, while we produce cars at full speed, the global situation with the lack of chips remains quite serious … it seems to be getting better, but it’s hard to predict.” Musk said, warning that the issue is unlikely to be resolved before the end of this year.
In technical terms, Tesla’s use of radar as part of a fully self-driving system will soon come to an end. “After selling over a million radar-equipped vehicles, we have collected enough data to start removing them in some regions,” the company wrote in its shareholding. “Radar removal, made possible by our collection of a huge set of angular case data, allows us to focus on vision and increase the pace of improvement.”
Musk also commented on the recent launch of Tesla’s subscription to the FSD, which was launched last month. “We expected to build slowly and gain a lot of momentum over time,” he said. “Obviously we need to have a fully self-contained boat that will be available so it can really take off … I think the FSC subscription will be an important factor probably next year.”
The company is also approaching the transition to its new one 4680 battery cells, after successfully validating the “performance and service life” of battery technology at its California-based manufacturing facility. With this off-the-drive testing, Tesla is focusing on “improving 10 percent of the production processes that currently represent a production bottleneck,” although the company has not yet announced when the battery style change will actually occur.
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