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The critical thing is, can TSLA still be able to sell $50M+ ZEV credit each quarter if they want to? Have the policies changed to a point that they can't sell that much ZEV? ZEV is not that much in terms of total revenue, but plays quite an important role in determining whether they can make eps+ or - historically.I think his point is that CARB is too generous in handing out ZEV credits (e.g. for regular hybrids) so supply exceeds demand and thus their value has plummeted, which impairs adoption of true ZEVs. Right now every automaker is apparently swimming in ZEV credits. Elon's hope is that CARB ratcheted up their requirements for what it takes to earn one.
No TE questions yet?
When do you expect TE revenuese from the GF to start kicking in?
Can you share margin expectations for TE
Breakdown of revenue for battery pack, battery wall?
Re ZEV credits ... The regulations are being watered down such that the companies don't need to buy credits because they can achieve the necessary watered down standards. EMs point is that that is no way to achieve the goals of reduced pollution. This appears to be a pattern: set hard goals in the future but relax them as the deadline approaches. Good ol' lobbying by big oil and big auto.
Unveils on Tesla Semi and Mini-Bus estimated in 6-9 months, but production/Cap-Ex will wait until Model 3 production is ramped. Next priority after Model 3 is Model Y, with estimated demand of 500K-1M/year.
Question for board. From the balance sheet / liabilities section I saw customer deposits stood at $680 million. If we exclude around $400M from Model 3 reservations, and assume the average deposit for Model X/S is $7000, that means the customers order backlog is around $280M/$7K = 40K cars . Is this true? Does this mean they already have 80% of the planned deliveries for Q3 and Q4 in the bag? If yes, that's great news.
P.S. For US the deposit is $2500 for S and $5000 for X, but for China the deposit can be $35,000 for X.
Question for board. From the balance sheet / liabilities section I saw customer deposits stood at $680 million. If we exclude around $400M from Model 3 reservations, and assume the average deposit for Model X/S is $7000, that means the customers order backlog is around $280M/$7K = 40K cars . Is this true? Does this mean they already have 80% of the planned deliveries for Q3 and Q4 in the bag? If yes, that's great news.
We recognized an insignificant amount of ZEV credit revenue in Q2
From the balance sheet / liabilities section I saw customer deposits stood at $680 million. If we exclude around $400M from Model 3 reservations, and assume the average deposit for Model X/S is $7000, that means the customers order backlog is around $280M/$7K = 40K cars . Is this true? Does this mean they already have 80% of the planned deliveries for Q3 and Q4 in the bag? If yes, that's great news.
Almost everything released today was positive
Totally agree. If they don't recall them there might not be enough Yays for the deal to pass.I am fairly certain that institutions will recall shares that they own as they will not be able to vote all of their shares otherwise.
Question for board. From the balance sheet / liabilities section I saw customer deposits stood at $680 million. If we exclude around $400M from Model 3 reservations, and assume the average deposit for Model X/S is $7000, that means the customers order backlog is around $280M/$7K = 40K cars . Is this true? Does this mean they already have 80% of the planned deliveries for Q3 and Q4 in the bag? If yes, that's great news.
P.S. For US the deposit is $2500 for S and $5000 for X, but for China the deposit can be $35,000 for X.
Everything except for the actual numbers.
Depends if you care about results vs. fairy tale promises.
Missed EPS by only 100%
Missed revenue
A wonderful quarter!
Based on promises they will hit $1,000,000,000 in no time!
It's not like that. Customer deposit includes the money customer paid in full while waiting for delivery.