

News
Lucid posts Q2 2023 results: production target maintained, but revenue and earnings fall short
Lucid Motors maintained its projected annual production target on Monday and expressed confidence in its capability to start the production of its highly anticipated SUVs in the coming year and into 2025.
Lucid’s announcement drove its shares up around 4% during after-hours trading, which is quite remarkable considering that the company also reported second-quarter earnings and revenue that were below market expectations. Lucid reported top-line revenue of $150.9 million as well, falling short of the consensus estimate of $176.63 million.
The company reported adjusted EPS loss for Q2 was $0.40 as well, which failed to meet the Street’s projection of a $0.34 loss. But even more notably, Lucid posted an adjusted EBITDA loss of $710.3 million, significantly surpassing an anticipated $596.14 million loss. It also far exceeded the $414.1 million loss that Lucid incurred a year ago, as noted in a Yahoo! Finance report.
Electric vehicle watchers online have taken particular notice of Lucid’s reported loss of $544,159 for every vehicle that it delivered in the second quarter. This is a significant loss, though it is also an improvement over the $818,000 per vehicle loss that the electric vehicle maker reported in Q2 2022. This suggests that little by little, at least, Lucid is seeing some improvements in cost management and operational efficiency.
In a comment to Reuters, CEO Peter Rawlinson emphasized that manufacturing capacity is not a limitation, given the significant improvement in supply chain resilience post-COVID. However, he also noted that the focus now is on sales, with the company aiming to boost demand and increase its market presence.
“We are not limited by our ability to manufacture. Most of the supply chain has now come through out of the COVID era. We are limited by our ability to sell the cars right now, and that is my key focus,” Rawlinson said.
While Lucid is seemingly poised to see more challenges in the future, the company is still overall optimistic. The EV maker noted that it was on track to produce 10,000 vehicles this year. This was despite deliveries in the second quarter being mostly unchanged from the 1,406 units that were sold in the first quarter. Lucid also noted that it was still on track to unveil the Gravity SUV in November.
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Elon Musk
A Tesla just delivered itself to a customer autonomously, Elon Musk confirms
Tesla CEO Elon Musk says the first self-delivery occurred today, one day ahead of schedule.

Tesla CEO Elon Musk has confirmed that a vehicle has, for the first time ever, delivered itself to a customer autonomously, one day ahead of the company’s original schedule.
To date, this is the first car to ever roll off a production line at a factory and transport itself to a customer for delivery.
Late last month, Musk announced that the first-ever fully autonomous delivery of a Tesla would take place on June 28. The plan was to have the car roll off the production lines at Gigafactory Texas and drive to a local customer without the assistance of anyone on board or remotely controlling the car through teleoperation.
Teslas will self-deliver to customers, Elon Musk says: here’s when
Musk said on Friday that it has officially happened:
🚨 Elon Musk confirms the first Tesla to self-deliver to a customer has happened, one day ahead of schedule! https://t.co/Zvb9y4m0uu
— TESLARATI (@Teslarati) June 27, 2025
The vehicle traveled as fast as 72 miles per hour, according to Ashok Elluswamy, Tesla’s Head of AI and Autopilot.
Musk continued on X:
“There were no people in the car at all and no remote operators in control at any point. FULLY autonomous! To the best of our knowledge, this is the first fully autonomous drive with no people in the car or remotely operating the car on a public highway.”
He said a video of the delivery would be uploaded soon.
We have seen cars autonomously transport themselves from production line to logistics lot at Gigafactory Texas, but this is a whole new level.
Tesla’s Giga Texas vehicles now drive themselves to outbound lot
Tesla just recently launched its Robotaxi for the first time in Austin on Sunday. Opened to a limited number of people, the company rolled out an Early Access Riders Program, but has been expanding it to more people in recent days. These cars featured a Safety Monitor in the passenger’s seat to ensure safety.
This seems to be something Tesla would like to perform more frequently in the coming months, especially locally. Eventually, it seems that Tesla will plan to have every vehicle it manufactures self-deliver, as a hauler would transport it to local delivery centers, then the car would drive itself to the customer’s house.
This is likely a few years off, but Tesla has already completed one self-delivery, which is an incredible accomplishment.
Yesterday, I wrote about Tesla’s two big milestones that are still planned for launch before the end of Q2. This was one of them. One to go: unveiling of the affordable models.
News
Tesla dispels reports that it hired ex-Cruise Autonomy head Henry Kuang
Tesla has denied reports that it hired former head of GM’s Cruise Henry Kuang.

Tesla has dispelled reports that it has hired ex-Cruise Head of Autonomy Henry Kuang.
This morning, several media outlets reported that Tesla had filled the position of Director of AI and Deep Learning for Autonomous Driving with Kuang, who was the Head of Autonomy at General Motors’ failed autonomous vehicle company, Cruise.
The rumor then circulated to X, but Tesla has now denied that those reports are true.
Tesla’s Head of Autopilot and AI, Ashok Elluswamy, revealed that the reports are false:
fake news
— Ashok Elluswamy (@aelluswamy) June 27, 2025
It would be easy to see how the hire might have been construed as real. Someone appears to have created a fake LinkedIn profile for Kuang, listing the new role at Tesla as their latest career move. The account appeared legitimate and bore all the hallmarks of a genuine page for Kuang, but it has since been removed from the site.
Additionally, there has been some rather high-level turnover at Tesla in recent days. The company recently let go of Omead Afshar, who was widely recognized as CEO Elon Musk’s right-hand man. Afshar assumed the role of North American sales head and European operations head late last year. He has been relieved of his duties, according to a Bloomberg report.
Tesla’s Omead Afshar, known as Elon Musk’s right-hand man, leaves company: reports
Alongside the loss of Afshar, Tesla’s Human Resources Head in Austin, Jenna Ferrua, also left the company this week.
This past week, Tesla launched its Robotaxi platform to a handful of people, marking the first time the company has given driverless rides to members of the public.
News
JB Straubel’s Redwood launches energy business focused on second-life EV batteries
Redwood stated that many EV battery packs retain more than 50% of their capacity after being retired from vehicles.

Redwood Materials, the battery recycling firm founded by Tesla co-founder JB Straubel, has launched a new venture called Redwood Energy. The business aims to repurpose used electric vehicle batteries into large-scale, low-cost energy storage systems.
In a post on X, Redwood revealed that it has already deployed a 12 MW, 63 MWh microgrid powered entirely by second-life EV batteries. The system is currently powering a modular data center for Crusoe AI, and it already operates at a lower cost than conventional solutions.
Repurposed batteries for scalable storage
Redwood Energy is designed to bridge the gap between battery recovery and recycling by extracting value from discarded EV packs that still hold usable charge. In a blog post, Redwood stated that many EV battery packs retain more than 50% of their capacity after being retired from vehicles. That remaining energy is well suited for stationary storage applications even without recycling.
The process begins with Redwood’s collection and diagnostics system, which identifies battery packs that are still suitable for reuse. Those packs are then integrated into modular energy systems that can store energy from solar, wind, or the grid. Once the batteries reach true end-of-life, they are recycled through Redwood’s closed-loop system to recover critical minerals.
Meeting the demands of an AI-driven grid
Redwood estimates that more than 100,000 EVs will be retired this year in the United States, with millions more currently on the road. These vehicles represent hundreds of gigawatt-hours of storage potential. These resources are coming in at the right time, as electricity demand is rising rapidly amid the rise of artificial intelligence, which tends to be power-hungry.
Redwood Energy already has more than 1 GWh of second-life batteries in its deployment pipeline. That figure is expected to grow to 5 GWh in the coming year. Larger 100 MW projects are also in development.
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