While I was creating the YouTube video (video below) for the Tesla Q2 2020 report, I discovered 3 secretly hidden hot topics Tesla didn’t share with the media until yesterday.
Tesla Inc on Wednesday posted a second-quarter profit as cost cuts and strong deliveries helped offset coronavirus-related factory shutdowns, sending its stock up 6% in after-hours trading and clearing a hurdle that could lead to the electric carmaker’s inclusion in the S&P 500 index.
Tesla bagged $1.1 billion in tax breaks from Travis County just last week for a reason. Until now, Tesla was searching the whole country for a perfect location to build its CyberTruck, that search is now over!.
After tuning profit for the fourth time on a row, blowing away all wall-street estimates, and now preparing to join the big boys club called S&P 500, Tesla is secretly revealed where CyberTruck will be built, and that is Austin, Texas.
Tesla Inc.’s latest gigafactory will be built on a sprawling 2,000 acres area, near Austin, Texas, the company’s Chief Executive Officer Elon Musk confirmed during the quarterly earnings call Wednesday. The newest Tesla factory will be located 15 minutes away from downtown Austin and will also manufacture the automaker’s Semi, Model 3, and Model Y vehicles for the eastern half of North America, the billionaire entrepreneur added.
Giga factory Shanghai is also constructing new facilities for Tesla Model Y. As seen in the image above, Tesla is currently after 200,000 Model 3 production capability at the Giga Shanghai. Once new factory for Model Y is up and running, am guessing before end of year, Tesla will be pumping out Model Ys from China as well, and we all know Chinese don’t joke with production. We have to expect the unexpected. Tesla Model 3 and Model Y will soon be seen everywhere.
Let’s head to secret number 2.
TESLA SECRET 2 – Battery & Powertrain
“We know from our customers that range is an all-important attribute for those looking to switch from their combustion engine vehicle to an EV. Our efforts to maximize range are not slowing down. In July 2020, we announced an updated Model S with an EPA-tested range of 402 miles making it the first production EV in history to break the 400-mile range threshold.” – Tesla
Tesla is known for breaking boundaries and new records. Tesla Battery Day is coming up in few weeks time, and its expected to be mind-blowing. Tesla also secretly reported that it has built a Model S with an EPA-tested range of 402 miles, which makes it the first ever EV with such an insane threshold.
TESLA SECRET 3
For the first time in Q2, Tesla Energy business is booming and is finally profitable. The Tesla Megapack generated a profit in Q2.
That’s the third wonder of Tesla.
Tesla finally reiterated 2020 Outlook of producing and delivering about 500,000. “We have the capacity installed to exceed 500,000 vehicle deliveries this year, despite recent production interruptions.” Tesla continues by saying ” While achieving this goal has become more difficult, delivering half a million vehicles in 2020 remains our target.”
Tesla also expects to remain profitable over the coming quarters. ” For the trailing 12 months, we achieved a GAAP operating margin of just under 5%. We expect our operating margin will continue to grow over time, ultimately reaching industry-leading levels with capacity expansion and localization plans underway.”