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Tesla appears to have shrugged off the production woes it suffered last year during the COVID lockdown with the company announcing a number of “new and notable records” during its Q2 earnings call on Monday. Not only did Tesla build and ship 200,000 vehicles during the quarter, a 151 percent increase over last year, it also earned $1.1 billion in net income during the same period — a whopping tenfold increase year over year. Overall, revenue grew 98 percent from this time last year thanks in large part to Tesla’s increased deliveries though the company did suffer from a “Bitcoin-related impairment” of $23 million during the past quarter.
Additionally, Tesla rolled out 85 MW worth of solar capability in Q2, a 215 percent increase from last year’s 25 MW as well as added nearly 1,000 Supercharging stations to its ever expanding network.
In terms of tech, Tesla’s use of radar as part of the vehicle’s Full Self Driving system will soon be coming to an end. “After selling over a million vehicles equipped with radar, we have collected enough data to start removing it in some regions,” the company wrote in its shareholder deck. “The removal of radar, which is enabled by our collection of a vast dataset of corner cases, allows us to focus on vision and increase the pace of improvement.”
The company is also getting closer to switching over to its new 4680 battery cells, having successfully validated the battery tech’s “performance and lifetime” at its California-based fabrication facility. With that testing out of the way, Tesla is focusing on “improving the 10 percent of manufacturing processes that currently bottleneck production output,” though the company has not yet announced when the battery style changeover will actually take place.
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