Tesla’s Profit Dives 45 PC As Musk Plans To Unveil Robotaxi In October

Tesla has earned a whopping profit of 1.5 billion dollars in April-June period in quarter 2 this year. However the registered profit is 45 percent less than the profit observed by Tesla in same period 2023.

Company has registered an increase of 2 percent in overall revenue at 25.5 billion dollars. It is noteworthy company’s automotive revenue dropped by 7 percent, despite surge in overall revenue, at 19.9 billion dollars.

“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.

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The electric car-maker shared that global EV penetration returned to growth in Q2 and is taking share from ICE vehicles. However, company view the possibility of selling fewer EVs in 2024 when compared with 2023. \

“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.  Before this the plan is 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.