Tesla’s net profits fell 6.5% in the first half of the year to $5.216 billion, the luxury electric car manufacturer reported on Wednesday.
From January to June this year, Tesla’s revenue amounted to $48.256 million35.2% more than a year ago.
In the second quarter of 2023 alone, net profit was $2.703 million and revenue was $21.268 million.
The drop in profits despite the strong increase in revenue is a consequence of the price cuts that Tesla applied to its vehicles in the first and second quarters of the year.
Tesla also noted increased operating expenses due to projects such as the Cybertruck pickup truck and the development of artificial intelligence.
In this sense, the company indicated that its commitment to be at the forefront of the development of artificial intelligence “entered a new chapter with the start of the production of Dojo training computers.”
Tesla Dojo is a supercomputer developed by the car manufacturer that will process the video information captured by the cameras of its millions of vehicles who travel around the world to train Autopilot, the company’s semi-autonomous driving system.
In a conference call with analysts and the media, Tesla CEO Elon Musk He pointed out that he is convinced that in the long term autonomous driving will generate an “almost infinite” demand. for the company through what the businessman calls “Robotaxi”.
“We believe that future Robotaxi will be in almost infinite demand and the way we are going to build the Robotaxi is itself revolutionary as well,” Musk explained.
Tesla also reaffirmed that, as planned, the Cybertruck will begin to be produced at the Gigafactory in Texas (USA) at the end of this year.
Musk repeated the forecast that this Tesla will deliver 1.8 million vehicles this year despite the fact that in the third quarter of the year production will be reduced “slightly” for the stoppage of its factories to modernize equipment.
The adjusted gross operating result (Ebitda) increased in the second quarter by 22.7% to 4,653 million dollars. In that period, Tesla produced a record 479,700 vehicles and delivered 466,140.
The company said Wednesday that its operating margin of about 10% “remained substantial, even with price reductions in the first quarter and early second quarter.”
“This reflects our cost reduction efforts, the successful increase in production in Berlin and Texas and the strong results from our Energy and Utilities and Other units,” added Tesla.
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