Investor's Corner
LIVE BLOG: Tesla (TSLA) Q2 2021 earnings call summary
With its second-quarter results that include $11.958 billion in revenue and $1.1 billion of GAAP net income, Tesla (NASDAQ:TSLA) has all but proven that it could be a sustainable business. With Q2 2021 in the bag, after all, Tesla has now posted eight profitable quarters in a row, and that’s despite an ongoing chip shortage and supply chain issues.
As discussed in the company’s Q2 2021 Update Letter, Tesla achieved some milestones in the second quarter. Commissioning has started in some areas of Gigafactory Texas, and Giga Berlin is also moving forward. What’s more, Gigafactory Shanghai has also completed its transition as the company’s primary vehicle export hub. The development of 4680 cells has also moved forward. Even Tesla Energy hit some stride in Q2 2021, with battery storage deployments tripling year-over-year in the second quarter. The same was true for Solar Roof deployments.
The following are live updates from Tesla’s Q2 2021 earnings call. I will be updating this article in real-time, so please keep refreshing the page to view the latest updates on this story. The first entry starts at the bottom of the page.
15:40 PT: And that’s a wrap, everyone! I gotta admit, it’s kind of sad that this may one of Elon Musk’s last regular earnings call appearances. It does make sense, though, as Tesla is in a much better place now compared to before. We can never forget Elon’s most memorable earnings call moments, though. Those will live in Tesla history.
Anyway, thanks for staying with us for our Live Blog once more. Until the next time!
15:38 PT: Elon mentions a number of key tidbits about Tesla Energy. With enough cells, Tesla could hi an annualized production of 1 million Powerwall’s next year. Long-term, Musk also noted that Tesla and its suppliers would have to produce 1,000-2,000 GWh worth of batteries per year.
When asked about the company’s FSD subscription program, Musk highlighted that Tesla has to make the system work very well first. Until then, it would be difficult to forecast just how well FSD would do. “Once we have FSD fully deployed, then the value question will be clear,” Musk said.
15:30 PT: Pierre Ferragu News Street Research inquires about sourcing the company’s 4680 cells. Elon confirms that Tesla is working with its existing suppliers to produce 4680 cells for its vehicles. He also noted that Tesla’s iron-based vehicles will not use 4680 cylindrical cells, as predicted by some of the company’s more ardent bulls. Elon believes it would be ideal to do 1-3 cell formats, especially considering the massive backlog in demand for the company’s product lineup.
15:25 PT: Rod Lache of Wolfe Research asks about Tesla’s estimates for innovations such as rear castings and 4680 cells. Musk notes that making predictions is difficult. “You need a lot of crystal balls to predict exactly what it would be,” the CEO said. A follow-up question on the company’s advances in cell manufacturing technology was asked. Tesla notes that the company is making progress, but there are still challenges. Tesla notes that more than 90% of the processes have been proven, but things are still limited by the ones that have not been proven. The company, however, is happy with its dry electrode process.
15:20 PT: When asked about other services that Tesla could offer, Elon Musk noted that FSD would be the main service that the company would offer. The CEO did note that Tesla is the leader in electrification and autonomy. This is an accurate statement, regardless of the controversy that surrounds the company.
Investor questions begin. First up is Colin Rusch from Oppenheimer. He asks about the take rates for FSD. Musk notes that it’s not worth promising on this right now, as it’s not meaningful. Tesla is focused on making FSD widely available. The analyst asks about any developments with regulators and their understanding of FSD technology. Musk responds that Tesla does not see a fundamental inhibitor in this light.
Musk reiterates his previous point, noting that once autonomous driving systems are proven to be safer than human drivers, regulators would likely be more welcome. He also reiterates his previous example of elevators, which used to be manual but are now fully automated. The same thing will likely happen with autonomous driving.
15:15 PT: Last retail question for retail investors asked if Elon Musk would be open to interviews every so often on prolific TSLA bulls’ YouTube channels. “I would do it annually,” Musk said, seemingly after pondering the point. He also noted that over time, he would not be speaking in Tesla earnings calls anymore unless there’s something really important that he has to address. Elon would likely only speak during the Annual Shareholders’ Meeting.
15:12 PT: Elon notes that Tesla has a massive amount of equipment that will be coming for the mass production of 4680 cells. “Most likely, we’ll hit an annualized rate of 100 GWh per year by the end of next year,” Musk said.
15:10 PT: A question about the progress of the 4680 cells was asked. Musk noted that in limited volumes, the 4680 cells are reliable enough for vehicles already. It’s just a matter of overcoming challenges that are present when mass manufacturing the 4680 cells. “We will definitely make 4680 reliable enough for vehicles. There are a number of challenges when transitioning from small-scale production to large-scale production,” Musk said. The 4680 cells’ reliability has been validated, though, with cells having been tested for the *equivalent* of 1 million miles.
15:07 PT: A question about Tesla’s plan to open the Supercharger Network to other EVs was brought up. Elon Musk notes that the process would be simple and app-based for non-Tesla owners. He did state that there will be a time constraint. “The biggest constraint to Superchargers is time,” Musk said, adding that there are times when charging stations are packed and other times when they are empty. “Tesla will also be smarter in terms of how it charges for electricity,” Musk added, noting that Tesla will use time-based pricing for non-Tesla EVs.
Non-Tesla EVs would have to use a Supercharger adapter, which Musk jokes would be available on Supercharger Stations. “Our goal is to support the advent of sustainable energy. Our intention is not to create a walled garden that we can use to bludgeon our competitors,” Musk jested. It was also highlighted that opening the Supercharger Network to other EVs would result in the system to grow even faster than ever before.
15:02 PT: Musk noted that Tesla is looking to strengthen its raw material supply chain. He states that Tesla no longer uses cobalt in its LFP packs, and the company may even shift to iron-based cells in the future as opposed to nickel-based cells. “We expect to have zero cobalt in the future,” Musk said. The CEO added that all stationary energy storage like Powerwalls and Megapacks will use iron-based battery cells.
15:00 PT: The Tesla executive noted that the company plans to overshoot on cell for vehicles and routing cell output to Megapack and Powerwall if there is excess. And just like its present strategy, shortages in cells would likely result in a reduction in the production of the Powerwall and the Megapack.
14:58 PT: Say questions from retail investors begin. First question is about the Cybertruck production. The company noted that it would be looking to ramp Cybertruck production in Gigafactory Texas after the Model Y production starts in the TX-based facility.
Elon Musk highlights the complexity of producing vehicles, and how each EV is comprised of thousands of parts. He notes that Tesla is fastest in history for scaling large manufactured objects, comparable to the Model T. He also noted that the Cybertruck and the Semi’s volume production would be greatly affected by cell availability.
However, Tesla is expecting to see a big boost in cell availability next year. “Maybe not in January,” Musk said, but sometime in the coming year. Musk hints at Tesla having twice as many cells next year compared to 2021. This is impressive considering that this year is already record-breaking.
Seemingly avoiding his typical over-optimistic estimates, Musk emphasizes that these are just current predictions and his estimates could change depending on challenges or obstacles that might come up.
14:53 PT: Musk concludes with a statement about Full Self-Driving, and how he is confident that Tesla could achieve autonomous driving.
Tesla Chief Finance Officer Zachary Kirkhorn takes the floor, noting that the company’s financials even without credits improved substantially. He highlights Tesla’s decreasing ASP while maintaining margins for its vehicles, which was made possible by optimizing the company’s operations to a significant degree.
The CFO confirms that Tesla’s numbers for the year would be more notable in the third and fourth quarter. “Our 2021 volumes will skew for the second half of the year,” Kirkhorn said.
14:48 PT: Elon discusses the Model Y line in Giga Berlin, which would be different from the Model Ys produced thus far. He still maintains that Giga Berlin and Giga Texas could go live with Model Y production later this year.
“The Model Y line in Texas and Berlin will look mostly like the Model Ys we make, but there will be substantial differences. The Model Y in Berlin will have a cast rear body and cast front body. We’re going to structural packs,” Musk said. The CEO did state that Tesla has a backup plan with a non-structural pack and 2170 cells, but 4680 cells will definitely be used for scale production.
14:45 PT: Musk discusses how Tesla rolled out contingencies to handle the challenges brought about by the chip shortage. He credits Tesla’s team and the company’s suppliers for helping the company resolve the material shortages. The CEO also discusses the release of FSD subscriptions, which would likely have high take rates as the advanced driver-assist system becomes more mature.
Musk notes that he is in Giga Texas, and he congratulates the team building its factories. “There’s nothing a year ago, and there’s a mostly complete large factory a year later,” Musk said, lauding Giga Texas’ team.
14:40 PT: Martin Viecha takes the stage and opens with the basics. Elon and other executives are present for the earnings call. Elon starts his opening remarks. He highlights that Q2 2021 was a record quarter, in deliveries, production, and income. He also noted that electric vehicles are now at an inflection point, and that the market is now being more aware that EVs are the way forward.
14:38 PT: And we’re starting!
14:35 PT: A 5-minute delay is nothing to a Tesla veteran.
14:30 PT: And here we go. We’re at standby. 🙂 This is very on-character for Tesla.
14:25 PT: Every Tesla bull remembers, after all, those days when TSLA stock was the very picture of volatility. As someone who has watched Tesla over the years, I’m not really sure which one I prefer. The understated consistency of a mature EV maker or the drama and excitement of a disruptor trying to find its wings?
14:20 PT: Strangely enough, Tesla stock has only risen 2.28% despite the company beating Wall Street’s expectations. I wonder if TSLA shares would see a boost in the coming months once more, just like in previous years? Still, it almost feels strange seeing Tesla only move this much after an impressive earnings report.
14:15 PT: Good day, everyone, and welcome to another live blog of Tesla’s earnings call! It’s pretty amazing that just a couple of years ago, there were still big questions whether Tesla could be a sustainable business. Back then, thinking that Tesla would be profitable for a year straight already seemed like a longshot. And now we have eight consecutive profitable quarters. Anyway, we’re 15 minutes away from the Q2 2021 earnings call. Perhaps this will be a memorable one as well.
Don’t hesitate to contact us for news tips. Just send a message to tips@teslarati.com to give us a heads up.
Elon Musk
X changed how everyone gets paid, and this lawsuit shows why
X sued a Bitcoin account network over fake payouts as its creator pay model shifts
Elon Musk’s X has taken a Bitcoin-focused engagement ring to court, and the case doubles as a receipt for how differently the platform pays creators today. The company filed suit in the High Court of England and Wales against Vivek Kumar Sen and Zamyang Sherpa, alleging the pair ran six accounts, including @Vivek4real_, @Bitcoin_Teddy and @TrendingBitcoin, as one coordinated operation to fake the kind of engagement that used to translate directly into money.
According to the filing, first reported by Gizmodo, the accounts posted near identical “BREAKING” crypto headlines seconds apart, in one case 11 seconds, then had three more handles like, reply to and repost the material to manufacture what X called “a false appearance of genuine, human communication and interaction.” X says the scheme pulled in at least £207,384, about $278,000, and pegs its own investigation and remediation costs at another £75,000. The accounts were suspended August 18. X general counsel James Burnham announced the case on X last weekend, writing that the company “will act forcefully to protect our platform and the earnings of genuine creators.” Musk’s own reaction, posted shortly after, was three words: “Don’t mess with 𝕏.”
Don’t mess with 𝕏 https://t.co/HSmd5hL6aQ
— Elon Musk (@elonmusk) September 21, 2026
The timing lines up with a a recent update to how X pays its creators. The program these accounts allegedly gamed, Creator Revenue Sharing, launched in mid 2023 and paid out based on how much a post got engaged with. Originality was never part of the formula, which is exactly how the platform ended up flooded with recycled clips, copy pasted “BREAKING” posts and replies engineered purely to farm reactions from paying subscribers.
X tried patching the model more than once, including an April cut to aggregator payouts and a March regional weighting change that Musk personally paused hours after it was announced. X retired Creator Revenue Sharing for good on September 7 and opened its replacement, Original Content Rewards, the next day.
Today, we’re launching Original Content Rewards.
The reality is that Revenue Sharing had reached a point where its incentives were misaligned. Creators should be focused on bringing net new content to the platform instead of maximizing payouts. We could have kept adding more… pic.twitter.com/VJIxqlPrjm
— Allegra Jacchia (@allegrajacchia) August 7, 2026
The new math is stricter. Payouts now come only from qualified impressions, meaning unique Home Timeline views from Premium subscribers where at least half the post is visible, and replies no longer count toward eligibility at all. Copied posts, reuploaded media and reposts without meaningful changes are explicitly excluded. Allegra Jacchia, senior product manager for Creators at SpaceXAI, which now runs X’s product and AI work following xAI’s acquisition of the platform, put it bluntly, saying the goal is to reward creators who bring original ideas and perspective, “not those who have become best at gaming the system.”
Read that way, the lawsuit isn’t really about six crypto accounts. It’s X putting a dollar figure on what the old incentive structure cost, then suing to collect it right as the new one goes live. For live updates on how the case and the new rewards program shake out, follow @Teslarati on X.
Elon Musk
Why automakers keep turning down Elon Musk’s Tesla Full Self-Driving offer
Elon Musk confirms no automaker has ever accepted Tesla’s offer to license Full Self-Driving software.
Elon Musk gave a brief answer on X Monday that confirmed that Tesla’s standing offer to license Full Self-Driving to other automakers still has zero takers. Sawyer Merritt wrote that “Tesla has for years openly invited other automakers to license FSD. None of them have accepted,” responding to a prediction from Boom Supersonic founder Blake Scholl that Tesla would eventually open FSD the way it opened its Supercharger network to rival brands. Musk’s reply to Merritt was one word: “Exactly.”
It is not the first time Musk has made this point. He said something similar in November, when he called legacy automakers reluctance to adopt FSD “crazy,” and Tesla has floated the offer publicly since at least 2021. Scholl’s prediction touches on something real. Once NACS became the de facto charging standard, adoption from Ford, GM, Rivian and others followed within about a year. FSD licensing was supposed to work the same way once Tesla built enough of a lead that switching made sense for everyone.
Tesla has for years openly invited other automakers to license FSD. None of them have accepted. https://t.co/kgz4idpoUM
— Sawyer Merritt (@SawyerMerritt) September 22, 2026
The case for licensing now is stronger than it was two years ago. Waymo and Zoox are logging hundreds of thousands of unsupervised autonomous miles, along with Tesla’s own Robotaxi fleet. Every automaker still selling driver assist systems that lag FSD has given the robotaxi conversation to Tesla, Waymo and Zoox by default. Licensing FSD would let a GM or a Ford compete on the same field without spending a decade and billions of dollars building a stack from scratch, the same argument Tesla made when it opened the Supercharger network to bring more EVs onto its chargers.
But FSD is not a connector standard. As one reply to Musk’s post pointed out, licensing FSD is not a software license the way NACS was a plug spec. It requires adopting Tesla’s eight camera layout and its onboard compute architecture, meaning a licensee’s cars would effectively become Tesla hardware wearing someone else’s badge. That is the visible obstacle. The less visible one is data. A licensed FSD stack would report back the same telemetry Tesla collects from its own fleet, giving Tesla a continuous read on how a competitor’s cars are actually driven, where they struggle, and how often drivers intervene. For an automaker trying to build its own autonomy program, or simply trying to keep its build quality and safety record private, handing Tesla that visibility could be a bigger cost than the hardware bill. It is the reason the Supercharger comparison only goes so far. Opening a charging plug cost Tesla very little. Opening FSD would cost a rival something it cannot get back.
Elon Musk
Tesla eyes supply partners for Optimus mass production
Tesla certified three Chinese suppliers for Optimus mass production, signaling its robot timeline is accelerating.
Tesla’s robotics team traveled to Ningbo, in China’s Zhejiang province, on September 16 and spent the following day auditing component suppliers for Optimus, according to a Bloomberg report cited by RobotAIGeek. The visit moved three manufacturers from provisional status to certified mass production partners: Tuopu Group, which handles actuators and chassis components, Ningbo Joyson Electronic, a sensor supplier, and Zhejiang Sanhua Intelligent Controls, which builds thermal management systems. All three already supply parts to Tesla’s electric vehicles, and the audit reportedly came with fresh orders that supply chain reports put at an initial batch of roughly 5,000 units.
Tuopu, Joyson, and Sanhua built their manufacturing base serving the automotive industry, where tolerances and volume requirements are already close to what a mass produced humanoid robot demands. Sanhua in particular has history here. Teslarati reported last October that the company had received a roughly $685 million order for linear actuators tied to Optimus, a volume industry watchers estimated could cover around 180,000 robots once production ramped.
Supply chain reports tied to this week’s audit put Tesla’s near term production goal at about 1,000 Optimus units a week by late September, rising to 2,000 to 2,500 units a week by the end of the year. That pace would put real weight behind the timeline Tesla has been building toward since May, when it wound down Model S and Model X production at Fremont to convert that floor space into a dedicated Optimus line targeting one million units annually. JPMorgan analysts who toured the factory in August confirmed the conversion took roughly four months, a pace Musk has called unprecedented for a facility that size.
New drone video shows Tesla’s Optimus Factory reaching a turning point
Fremont is only the first phase. A second, larger Optimus plant is rising at Gigafactory Texas, where drone footage shared by Joe Tegtmeyer last week showed the structural steel nearing completion on the north end of the building. Tesla has said that facility is meant to eventually support production of up to 10 million units a year, though volume output there is not expected before 2027.
Commercial sales of Optimus are still targeted for the second half of 2027, but production is expected to start well before then. JPMorgan analyst Rajat Gupta has said Tesla’s “Optimus Academy” program, which uses early units to collect real world training data inside Tesla’s own facilities, is expected to be running later this year. Bloomberg Intelligence analyst Ian Ma described the Ningbo audits as “a positive commercialization signal for China’s humanoid supply chain,” noting that sentiment could improve further if the visit leads to confirmed supplier nominations and larger orders. The Solactive China Humanoid Robotics Index rose about 1.4% on the news, though it remains down roughly 30% for the year.
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