AutoBeta(AutoBeta.net)07/25 Report--

Tesla released its results for the second quarter of 2019 on July 25, with record delivery data and improved losses.

According to the financial report, Tesla realized revenue of $6.35 billion in the second quarter, up from $4 billion in the same period last year, and realized a net loss of $408 million (about RMB 2.8 billion). Compared with the same period last year, the loss was $718 million in the same period last year. the loss in the first quarter was $702 million.

Tesla also said that as a result of this growth and improved operations, it generated $614 million in free cash flow (operating cash flow minus capital expenditure) in the second quarter. As of the end of June, Tesla's cash and cash equivalents totaled US $5 billion.

In terms of delivery data, Tesla delivered 95356 electric vehicles and produced 87048 Tesla electric vehicles in the second quarter, surpassing the quarterly record of about 91000 deliveries and 86600 production set in the fourth quarter of 2018.

Among them, Tesla Model 3 delivered 72531 vehicles in the quarter, and Model S and Model X delivered 17722 vehicles.

Tesla said that despite a decline in the average selling price of vehicles and a decrease in revenue from integral sales, the gross profit margin of electric vehicles is still around 19%.

At present, the Fremont plant can produce 7000 Model 3 vehicles per week, and Tesla plans to increase its production capacity to 10000 vehicles per week. Meanwhile, the Shanghai Super Factory in China is expected to start production by the end of 2019 to supply localized Model 3 electric cars.

In terms of new car information, Model Y will be launched in the fall of 2020. Tesla said that because most of the parts overlap between Model 3 and Model Y, it can be produced using existing equipment.

For the rest, Tesla continued to implement the target of 36-400000 vehicles in 2019 and said he would turn losses into profits in the third quarter and beyond.

On the progress of the Chinese factory, Musk has said that this is the fastest building I have ever seen, and it has the potential to produce 500000 or even 1 million electric cars a year in the future. According to the financial report, the construction of Tesla's Shanghai factory is also progressing steadily, and the main body of the factory has basically taken shape. It has begun to move production equipment into the factory since the second quarter, and a more streamlined production line has been built at the initial stage, and it is planned to start production by the end of this year.

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