Tesla breaking records in Q2: Hits $1.1billion in net income for the first time

The company has built and delivered over 200,000 vehicles in Q2

Tesla breaking records in Q2: Hits $1.1billion in net income for the first time

The electric vehicle giant has managed to come out of the pandemic struggle by building and delivering almost 200,000 vehicles in Q2. There’s almost a 151 percent increase in their net income when compared to that of the last year. The company has managed to reach $1.1billion in net income for the quarter. This makes their revenue go up by 98 percent. 

The company has also expanded its network by building 1000 Supercharging stations. It has added 85MW of solar capacity in the second quarter. Tesla CEO Elon Musk has recently revealed more details on opening its charging stations to other EV brands. He also pointed out that there may be few constraints for non-Tesla owners even though the company thinks of it as a simple affair. Musk added that people began to think that electric vehicles are the future. He also commented on the shortage of microchips affecting vehicle production as “it does seem like it’s getting better, but it’s hard to predict”.

Tesla had been using radar as a part of their vehicle’s Full Self Driving system, which it plans to remove soon. The company has collected enough data to remove radars in certain regions, revealed the company’s shareholder deck. The company also launched FSD subscription last month.

Tesla has also successfully tested its new 4680 battery cells. The battery has shown good performance and lifetime but the company has not revealed when the change to new batteries would take place.