Tesla, Inc.

And I'm joined today by Elon Musk, Zachary Kirkhorn, and a number of other executives. Our Q2 results were announced at about 3 p.m. Central Time in the update deck we published at the same link as this webcast. During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. During the question and answer portion of today's call, please limit yourself to one question and one follow up. Please use the raise hand button to join the question queue. But before we jump into Q&A, Elon has some opening remarks. Elon.

Thank you Martin. So just as a as a Q2 recap, Q2 was a unique quarter for Tesla due to a prolonged shutdown of our Shanghai factory. But in spite of all these challenges, it was one of the strongest quarters in our history. Most importantly, in June, we achieved production records in both Fremont and Shanghai. And as a result, we have the potential for a record-breaking second half of the year. I do want to emphasize this is obviously subject to force majeure, things outside of our control. The past few years have been quite a few force majeures. And it's been kind of supply chain hell for several years. Credit to our awesome Tesla supply chain team for overcoming insanely difficult challenges. And a huge thanks to the Tesla Shanghai factory team who sacrificed a lot to get the factory back up and running in June and achieve a record output. So also making good progress with production ramp with Berlin. We achieved an important milestone of 1,000 cars a week in June, and we're expecting our Giga Texas to exceed the 1,000 vehicle per week milestone hopefully in the next few months. Yeah, to be clear, we're currently making the cars with the 2170 cells, and Drew Baglino will address some of the 4680 questions later in this call. But it is worth emphasizing that we have enough 2170 cells to satisfy oil vehicle production for the remainder of the year. So we're not dependent on 4680. 4680 will be important next year, but it is not important this year. That said, we haven't sold the second generation of manufacturing equipment for 4680 cells in Texas. And even at our established factories like Fremont and Shanghai, we continue to expand capacity. Regarding autopilot, we have now deployed FSD Beta with CityStreet's driving capability to over 100,000 owners. They're very happy with the capabilities of the system and will continue to improve it every week. We've now driven over 35 million miles with FSD beta. That's more autonomous miles than any company we're aware of. I think probably more than, it might be more than all other companies combined. And that mileage is growing exponentially. With regard to manufacturing and technology, about five or six years ago, we said we wanted to become the best manufacturer in the world. And that is somewhat counterintuitively to some people, what will actually be, I think, our strongest competitive advantage. We're super pro-manufacturing here at Tesla. And in general, we want to encourage other companies to be super pro-manufacturing. And in general, I think it is a very important thing to do. We need to make stuff and make it efficiently. And that's manufacturing. So we've made a lot of advancements in manufacturing processes. As we now show in the shareholder deck, thanks to the large castings, we make the world's largest castings. We reduced body welding robot count by 70% per unit of capacity in Austin and Berlin. So that's, you know, call it roughly a body shop that is roughly three times smaller than would normally be the case. And I should say it's also lighter, cheaper, and has superior noise vibration and harshness. So it's good on every level. But this journey is not over. We'll bring another level of simplicity and manufacturing improvements with Cybertruck and future products that we're Not quite ready to talk about now, but I think will be very exciting to unveil in the future. Our safety team also introduced a feature that tension seatbelts if the vision system detects imminent collision, which has never been done before. So you can imagine that if you have a seatbelt that only tensions upon impact, you have very little time to tension the seatbelt. If you've got to be, the car is literally got to be crunching. to trigger the seatbelt tensioner. But because we have vision, we can actually see that a collision is about to occur with 100% probability before it actually happens. And so we can tension the seatbelts and we can even adjust the airbag deployment because we can see, not just feel. This is a fundamental safety advantage that Teslas are now able to offer. And then this is also an over-the-air update. So this is something that will be in place in all cars that have at least AP3 hardware. In conclusion, we exited Q2 with a stronger production rate than ever before. Our team continues to focus on Cybertruck production readiness and some future platform design. We are still expecting to be in production with the Cybertruck in the middle of next year. And we're very excited about that product. I think it might actually be our best product ever. Let's see. And FSD beta is on track to be released for all of North American customers before the end of this year. And hopefully, if we get regulatory approval, we'll also be releasing it hopefully in Europe and some other parts of the world. We're hosting our AI Day in a few months. I think people will be amazed at what we're able to show off in AI Day. So basically, there's a tremendous amount to look forward to in the second half of this year. And I want to thank all of our employees and suppliers for their super hard work during these challenging times. Super appreciate it. Thank you.

Thank you very much.