Tesla, Elon Musk's electric automobile company has reported being in profit for the April-June period (Q2) this year (2024) by USD 1.5 billion- which was down by 45 per cent from the same period in 2023.
Total revenue was up 2 per cent (year-on-year) at USD 25.5 billion, but automotive revenues were down 7 per cent to USD 19.9 billion, according to the electric car maker.
“In Q2, we achieved record quarterly revenues despite a difficult operating environment. The Energy Storage business continues to grow rapidly, setting a record in Q2 with 9.4 GWh of deployments, resulting in record revenues and gross profits for the overall segment,” Tesla said in a statement.
The company is further looking at the possibility of selling fewer EVs in 2024 than in 2023. It further stated that the global EV penetration returned to growth in Q2 and is taking share from ICE vehicles.
“We believe that a pure EV is the optimal vehicle design and will ultimately win over consumers as the myths on range, charging and service are debunked,” said Tesla.
According to its CEO Musk, he will showcase Tesla’s “robotaxi” prototype during an event on October 10, after scrapping a previous plan to reveal it on August 8.
“Though timing of Robotaxi deployment depends on technological advancement and regulatory approval, we are working vigorously on this opportunity given the outsized potential value,” said Tesla.
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Inputs from IANS
