Tesla shares fall as Musk touts ambitious – and costly – plans
Tesla is embarking on a massive construction spree that Musk characterised on a conference call as probably the United States' "fastest industrial scale up…
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Summary
Tesla is embarking on a massive construction spree that Musk characterised on a conference call as probably the United States' "fastest industrial scale up since World War Two." Tesla is participating with Musk's other ventures, SpaceX and xAI, in Terabab, a US$20 billion project in Austin that calls itself "the most epic chip-building effort ever." Tesla described progress on expansion initiatives as in line with plans, saying it began production of its "Cybercab" vehicle in Texas and that production of the Tesla Semi truck "remains on track" for 2026. Revenues rose 26 per cent to US$28.2 billion. "Ideally, you want 99.99999, you know, per cent reliable." SPENDING SPREE Like other big tech companies such as Google and Amazon, Tesla has faced questions about the payoff from its ambitious and costly technology buildout.
Furthermore, But the company's earnings press release said profitability was dented by lower vehicle sales prices, lower revenue from regulatory credits and unspecified "energy warranty-related charges." ANOTHER factor was a more than doubling in capital expenditures to US$5.8 billion during the three-month stretch compared with the year-ago period. Tesla had impressed market watchers earlier this month when it released higher-than-expected second-quarter auto sales, due in part to a recovery in European markets. Shares of SpaceX cooled in the ensuing weeks, but the company's valuation at around US$1.5 trillion has been viewed as a potential means to transact a combination between SpaceX and Tesla.
In addition, In ANOTHER closely watched item, Tesla reported gains in subscribers to its "FSD" driver-assistance program, boosting revenues. US stock futures edge higher; Tesla, Alphabet dip after Q2 earnings. Elon Musk's fast-growing electric vehicle maker reported second-quarter profits of US$1.1 billion (RM4.4 billion), down about five per cent from the year-ago level.
Moreover, Musk described "many collaborations" between Tesla and SpaceX. "There's more and more overlap," said Musk. "Obviously we can't talk about combining companies and that kind of thing on an earnings call.".
Cross-referenced from 3 sources.
Factual coreconfirmed by several independent voices
Tesla is embarking on a massive construction spree that Musk characterised on a conference call as probably the United States' "fastest industrial scale up since World War Two." Tesla is participating with Musk's other ventures, SpaceX and xAI, in Terabab, a US$20 billion project in Austin that calls itself "the most epic chip-building effort ever." Tesla described progress on expansion initiatives as in line with plans, saying it began production of its "Cybercab" vehicle in Texas and that production of the Tesla Semi truck "remains on track" for 2026.
reliability low1/2 sourcesRevenues rose 26 per cent to US$28.2 billion.
reliability low1/2 sources"Ideally, you want 99.99999, you know, per cent reliable." SPENDING SPREE Like other big tech companies such as Google and Amazon, Tesla has faced questions about the payoff from its ambitious and costly technology buildout.
reliability low1/2 sourcesBut the company's earnings press release said profitability was dented by lower vehicle sales prices, lower revenue from regulatory credits and unspecified "energy warranty-related charges." ANOTHER factor was a more than doubling in capital expenditures to US$5.8 billion during the three-month stretch compared with the year-ago period.
reliability low1/2 sourcesTesla had impressed market watchers earlier this month when it released higher-than-expected second-quarter auto sales, due in part to a recovery in European markets.
reliability low1/2 sourcesShares of SpaceX cooled in the ensuing weeks, but the company's valuation at around US$1.5 trillion has been viewed as a potential means to transact a combination between SpaceX and Tesla.
reliability low1/2 sourcesIn ANOTHER closely watched item, Tesla reported gains in subscribers to its "FSD" driver-assistance program, boosting revenues.
reliability low1/2 sources
Reported detailssecondary facts, each attributed to its source
US stock futures edge higher; Tesla, Alphabet dip after Q2 earnings.
according to Investing.comElon Musk's fast-growing electric vehicle maker reported second-quarter profits of US$1.1 billion (RM4.4 billion), down about five per cent from the year-ago level.
according to Malay MailMusk described "many collaborations" between Tesla and SpaceX. "There's more and more overlap," said Musk. "Obviously we can't talk about combining companies and that kind of thing on an earnings call."
according to Malay MailMusk faced questions about plans for scaling its robotaxi venture and benchmarks for assessing the company's progress on it, telling analysts he was confident the product will enjoy bountiful consumer demand and that Tesla was working to achieve perfect or near-perfect reliability.
according to Channel News Asia"There's more and more overlap," said Musk.
according to Channel News Asia
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