CATL, the world’s largest battery cell manufacturer and one of Tesla’s most critical suppliers, is scouting new factory sites in Mexico – likely to supply Tesla and other US electric automakers.
The post Tesla battery supplier CATL is scouting new factory sites in Mexico appeared first on Electrek.
Tesla (TSLA) is set to announce its second-quarter 2022 financial results on Wednesday, July 20, after the markets close. As usual, a conference call and Q&A with Tesla’s management is scheduled after the results.
Here we’ll take a look below at what both the street and retail investors are expecting for the quarterly results.
As usual, Tesla already disclosed its Q2 vehicle delivery and production numbers, which drives the vast majority of the company’s revenue.
Earlier this month, Tesla confirmed that it delivered just over 254,000 electric vehicles during the second quarter of the year.
This is the first time in a long time that Tesla’s deliveries were down and it is due to lockdown restrictions in Shanghai forcing the automaker to shut down Gigafactory Shanghai for weeks during the quarter.
Delivery and production numbers are always slightly adjusted during earning results
For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers, but it is harder this quarter to adjust down instead of up this time.
The Wall Street consensus for this quarter is $16.521 billion, and Estimize, the financial estimate crowdsourcing website, predicts a significantly higher revenue of $17.186 billion.
It’s rare that the range is this significant, but it is to be expected with this quarter’s conditions. It is also interesting that revenue estimates are not that far off from the previous quarter, despite already knowing that Tesla delivered about 50,000 fewer vehicles this time around.
Here are the predictions for Tesla’s revenue over the past two years: Estimize predictions are in blue, Wall Street consensus are in gray, actual results are in green:
Tesla always attempts to be marginally profitable every quarter as it invests most of its money into growth, and it has been successful doing so over the last two years now.
For Q2 2022, the Wall Street consensus is a gain of $1.81 per share, while Estimize’s prediction is higher with a profit of $2.06 per share.
These earnings estimates are even more surprising than the revenue estimates since they point to Tesla barely slowing down on the earnings side of things despite the challenges during the quarter with Shanghai being shut down for weeks and Texas and Berlin losing a lot of money while trying to ramp up production.
Here are the earnings per share over the last two years: Estimize predictions in blue, Wall Street consensus in gray, actual results in green:
In the shareholder’s letter and the following conference call, Tesla generally shares additional details about not only financial results, but also other important metrics on how the company is doing.
While the quarter was difficult for Tesla, it looks like it’s already behind them with Tesla already reporting that June was the automaker’s best month for production ever.
I think a lot of the questions are going to look forward to things like production ramps at Gigafactory Texas, Berlin, and Shanghai.
The level of information coming out of the earnings will likely depend a lot on whether or not Musk is going to be on the call, which he said he will not always be on going forward. He would make sense for him to be on this time considering that Tesla has let go of many employees this quarter and shareholders and analysts are likely going to have a lot of questions about that.
If Musk is there, I think he will have to field some questions about Tesla’s upcoming AI Day on September 30, which is likely going to be Tesla’s next big event.
When it comes to Tesla Energy, we do have some rare data ahead of the results. Electrek reported that Tesla had its best quarter in years for residential solar in the US with 71.5 MW. The final number will be higher with some deployment in the commercial market and other regions.
We also reported that solar roof deployment is still exceptionally slow and shareholders should ask questions about that considering Tesla has previously mentioned that this is going to be an important product.
The FSD Beta program is also critical and investors will want an update on that front.
What else are you looking for during Tesla’s earnings? Let us know in the comments section below, and join us Wednesday for our extensive coverage of the earnings.
The post Tesla (TSLA) Q2 2022 financial results preview: Here’s what to expect appeared first on Electrek.
Tesla has been working on a new “self-diagnostic” feature in its app that the automaker is running when certain types of service appointments are requested.
The post Tesla has a new self-diagnostic feature in its app appeared first on Electrek.
Anti-lock brakes might sound like old tech in cars (and motorcycles to a certain extent), but another two-wheeler has had to deal with brake lock up since its invention: the bicycle. But two different companies have just shown off competing anti-lock braking (ABS) systems designed for e-bikes to improve safety and performance.
The post Bosch and Blubrake/Shimano unveil competing anti-lock braking for electric bikes appeared first on Electrek.
Electrek is sponsored by Autonomy.com, the cheapest, fastest, easiest way to get a Tesla Model 3. If you have a credit card, you can reserve a Tesla now. Learn more and get $500 off for a limited time. (See Terms.)
So you’re looking for a new EV and feel like a lease might be the best option for you and your needs. A fine choice! Like any large purchasing decision, it’s important to do your research to ensure you maximize your value and are happy with your decision, especially since you will be locked into a term commitment as long as 36-months. Below, we have compiled some of the most affordable EV leases available in 2022. Have a look.
The post Tracking the most affordable EV leases in 2022 appeared first on Electrek.
Shopping for someone looking for a high-quality energy storage solutions but not sure what product they prefer? Get them a new e-gift card from BLUETTI – an online store with over a decade of experience in portable energy stations and solar charging. BLUETTI gift cards are easy to use and offer a number of benefits including the ability to pay in instalments.
The post BLUETTI introduces e-gift cards: A more convenient way to shop for portable power stations appeared first on Electrek.
Have you ever thought to yourself, “I’d love an electric bicycle, but it’d be even more convenient if the battery fit into my pocket”? Ok fine, but lots of people actually have. And the UK-based e-bike conversion kit company Swytch made it happen with the newest edition of the brand’s easy to use electric bike conversion kit.
I got the chance to see the new kit in person at Eurobike a few days ago and even take a couple quick test laps on a bike equipped with the updated kit.
The post Swytch shows off first pocket-sized electric bike battery for DIY e-bike conversion kit appeared first on Electrek.
Listen to a recap of the top stories of the day from Electrek. Quick Charge is available now on Apple Podcasts, Spotify, TuneIn and our RSS feed for Overcast and other podcast players.
The post Quick Charge Podcast: July 16, 2022 appeared first on Electrek.
Elon Musk says that Tesla is getting closer to integrating Valve’s Steam to take its in-car gaming platform to a whole new level.
The post Tesla is getting closer to integrating Steam to take its gaming platform to whole new level appeared first on Electrek.
In today’s age of police militarization, perhaps it’s time to take a step back and see how we could downsize some of the police gear used on our streets. Who needs a three axle gas-guzzling police tank when you could have a tiny electric police coupe?
Benefits include low maintenance, reduced fuel costs and being able to fit in a parking spot reserved for a mobility scooter!
The post Awesomely Weird Alibaba Electric Vehicle of the Week: World’s Tiniest Electric Police Car appeared first on Electrek.