![]() During Q2 2022, Tesla sold more than 254,000 vehicles at 27% YoY growth.Source: Tesla Q2 2022 Financials and Counterpoint Analysis Q2 2022 Financial Results ![]() This conversion reduced Tesla’s digital assets to $218 million and added $936 million in cash to Tesla’s balance sheet. This was done to have a better cash position against the backdrop of COIVD-19-related uncertainties. Tesla converts 75% of its Bitcoins to fiat currencyĭuring Q2 2022, Tesla also converted 75% of its Bitcoins to fiat currency. It installed 247 new superchargers worldwide, bringing its global supercharger number to 3,971 units with more than 36,000 connectors. Tesla deployed 106 MW of solar panels and 1.13 GWh of energy storage during Q2 2022. Energy deployment, energy storage, charging and other services grew by 33% YoY. Other businesses see 33% YoY growthĪlthough Tesla’s vehicle sales in Q2 2022 failed to meet expectations, its other businesses like energy deployment and storage, charging and other services grew more than its vehicle segment. However, Tesla will shut the Berlin Gigafactory for a couple of weeks during autumn to upgrade the production system of 4680 cells. The cells will power the Model Ys coming out of the Berlin Gigafactory. With lithium prices soaring worldwide, 4680 cells will help lower the vehicle manufacturing cost. These cells use a little amount of lithium. Tesla delivered its first batch of cars equipped with the in-house 4680 battery cells and structural battery packs during this quarter. Tesla bets on in-house battery cell manufacturing The Berlin factory is currently focusing on the production and deliveries of the Model Y across Europe. A few rumored reasons for the low production are litigation with the German government and a shortage of human resources. But the production was lower than expected. It was expected that the Berlin Gigafactory would boost Tesla’s sales in Europe after becoming operational in March 2022. The situation improved only after the production returned to full capacity in June. Cumulative sales in China during April and May fell by more than 66% YoY. As a result, Tesla sold just 89,000 cars across China during Q2 2022. Production units in and around Shanghai were closed temporarily due to strict lockdown measures. ![]() Business during Q2 2022 was affected by COIVD-19-related shutdowns in China.
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