Executive Summary
Strategic Transition Point
Q2 2025 was a seminal point in Tesla's history: the beginning of our transition from leading the electric vehicle and renewable energy industries to also becoming a leader in AI, robotics and related services.
Key Highlights
Financial Performance
Financial Analysis
Quarterly Performance Trends
| Metric |
Q2 2025 |
Q2 2024 |
Change |
| Revenue |
$22.5B |
$25.5B |
-12% |
| Operating Margin |
4.1% |
6.3% |
-2.2pp |
| Net Income |
$1.2B |
$1.5B |
-20% |
Operations
Production & Delivery Summary
396,835
Model 3/Y Production
Energy Storage: 12th consecutive TTM record
AI Training: 67k H100-equivalent GPUs deployed
Manufacturing
Global Production Capacity
Future: Cybercab & Semi production facilities under construction
Robotaxi
Autonomous Service Deployment
1
Austin Pilot Launch (June 2025) - Limited area with safety drivers
2
Service Expansion - Gradual geographic area growth
3
Safety Rider Removal - Full autonomous operation
4
National Scaling - Replication to major U.S. cities
AI Infrastructure
Training Capacity Expansion
Expansion: Added 16k H200 GPUs by September 2025
Energy Storage
Record Performance
Milestone: 12th consecutive TTM record
Expansion: Megafactory Shanghai now operational
Infrastructure
Supercharger Network Growth
Product Timeline
Upcoming Launches
1
Affordable Model Pilot (June 2025)
2
Volume Production (H2 2025)
Global Markets
Market Progress
North America: Record test drives (+20%)
Europe: 5-star safety ratings (Europe/ANCAP)
India: Market entry with Model Y
FSD: Global expansion pending regulatory approval
Deep Dive
Complete Financial Analysis
Access comprehensive financial statements including Income Statement, Balance Sheet, Cash Flow Statement, and GAAP to Non-GAAP reconciliations covering 5 quarters of historical data.
Strategic Links
Key Business Relationships
AI → Autonomy: Higher GPU capacity accelerates FSD development
Autonomy → Profitability: Robotaxi service creates recurring revenue
Energy → AI: Storage growth supports data center demand
Production → Mix: Vehicle portfolio impacts overall profitability
Future Vision
Strategic Priorities
Our priorities remain the same: delivering affordable and compelling autonomy-capable models, growing the Energy business and advancing our robotics efforts. The transition to AI and robotics services represents Tesla's evolution into a comprehensive technology platform.