IANS | 24 Jul, 2024
Elon Musk-run Tesla has reported $1.5 billion in profit for the
April-June period (Q2) this year, down 45 per cent from the same period in
2023.
Total revenue was up 2 per cent (year-on-year) at $25.5 billion, but
automotive revenues was down 7 per cent to $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 looking at a possibility of selling fewer EVs in 2024
than 2023.
It said that 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.