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Tesla’s strong Q2 deliveries prove ‘worst is in the rear view mirror:’ Wedbush

Credit: @JustJay25122288 | Twitter

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Tesla reported strong delivery and production numbers for the second quarter of the year this morning.

Wedbush analyst Dan Ives believes it shows the “worst is in the rear view mirror” for Tesla and CEO Elon Musk as “the EV demand story is starting to return to the disruptive tech stalwart ahead of a historical Robotaxi Day on August 8th,” he wrote in a note to investors.

Tesla reported this morning it delivered 443,956 vehicles in the second quarter, composed of 422,405 Model 3 and Model Y and 21,551 “other vehicles,” meaning the Model S, Model X, and Cybertruck.

Tesla reports Q2 delivery and production figures, beating estimates

It also deployed 9.4 GWh of energy storage products for the quarter, more than double its previous record.

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From an investor standpoint, Ives believes this is the quarter Tesla needed to dispel any doubt that there might have been, calling it “the appetizer” to Robotaxi Day:

“This good 2Q performance is just the appetizer to the main event in our view, which is RoboTaxi Day on August 8th to unleash the next part of the Tesla autonomous story with all the Street watching”

Tesla has not had what many would consider an easy or smooth sailing year. It has struggled with lower-than-expected delivery figures in terms of its year-over-year growth. In Q1, it admitted it would not be able to keep up with its yearly growth rate as it was “between two major growth waves” as it continues to work toward the release of its next-generation vehicle.

Investors should not be worried, though, because Tesla has “sufficient liquidity to fund its product roadmap, long-term capacity expansion plans, and other expenses.”

Ives is now looking to August 8th for Tesla’s next landmark moment:

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“We believe the August 8th Robotaxi Day will be a key historical moment for the Tesla story that we see as a near-term catalyst. Ultimately the key to reaching a $1 trillion+ valuation is the autonomous and FSD vision taking hold for Tesla, which appears to be turning a corner with this latest FSD v12.4 and now China FSD testing underway.”

With the pay package dilemma in the past and Tesla beating expectations, it seems there is more to be bullish about in Q3 than in Q2.

There are many positive things investors can look to in the coming quarters, and as the second half of 2024 has arrived, Tesla bulls should look for the August 8th Robotaxi unveiling as their next true catalyst. Ives believes it is the first of many in the coming six months.

I’d love to hear from you! If you have any comments, concerns, or questions, please email me at joey@teslarati.com. You can also reach me on Twitter @KlenderJoey, or if you have news tips, you can email us at tips@teslarati.com.

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Joey has been a journalist covering electric mobility at TESLARATI since August 2019. In his spare time, Joey is playing golf, watching MMA, or cheering on any of his favorite sports teams, including the Baltimore Ravens and Orioles, Miami Heat, Washington Capitals, and Penn State Nittany Lions. You can get in touch with joey at joey@teslarati.com. He is also on X @KlenderJoey. If you're looking for great Tesla accessories, check out shop.teslarati.com

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Elon Musk confirms Grok 4 launch on July 9 with livestream event

The rollout will be accompanied by a livestream at 8 p.m. Pacific Time.

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Credit: xAI/X

Elon Musk has officially confirmed that Grok 4, the latest version of xAI’s large language model, will launch on July 9. The rollout will be accompanied by a livestream at 8 p.m. Pacific Time, hosted on xAI’s official account on X.

xAI goes straight to Grok 4

Back in May, leaks indicated that xAI was getting ready to ship Grok 3.5. Considering Musk’s recent comments, however, it appears that the artificial intelligence startup would be focusing on the large language model’s fourth iteration instead. As noted in a Financial Express report, users on X have sighted references to Grok 4 in the lead up to the update’s launch, such as “grok-4-prod-mimic” and “Grok 4 Code.”

Musk’s Grok 4 announcement comes as AI competition intensifies between major players including OpenAI, Google, and xAI. With Musk’s Colossus supercomputer fully operational in Memphis, xAI appears to be accelerating its AI product roadmap.

Musk pushes Grok toward political neutrality

Grok 4’s launch also follows a recent controversy involving political bias, as noted in a CNN report. Last week, Grok responded to a user on X stating that political violence in the U.S. since 2016 had come more from the political right than the left. The chatbot noted in a later reply that its answer was based on information from sources like Reuters, the Journal of Democracy, and University of Maryland studies. 

Musk stated that Grok’s response was a “major fail.” “Major fail, as this is objectively false. Grok is parroting legacy media. Working on it,” he wrote in a post on X. By the end of June, Musk noted that he was “grinding all night with the xAI team” and that they were making “good progress.” He also stated that the model “Will be called Grok 4. Release just after July 4th. Needs one more big run for a specialized coding model.”

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Tesla opens massive solar Supercharger station in California

The Supercharger opened to customers ahead of Fourth of July weekend, while Tesla continues phase two of construction on the site.

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Credit: Tesla Charging | X

Tesla has officially launched the first several Supercharging posts at a massive station in California, notably including solar canopies and grid-scale batteries to offer completely renewable charging.

Last week, Tesla announced on X that it opened the first 84 Supercharger stalls of a planned 168-stall station in Lost Hills, California. Additionally, the massive Supercharger project features 11MW of solar canopies and 10 Megapack batteries for off-grid charging powered entirely by solar energy.

Tesla completed the first phase of the project just days ahead of the busy Fourth of July holiday weekend, adding that initial construction took just eight months. In addition to the remaining charging stalls, Tesla says it’s building a set of lounge areas, renderings of which can be seen below alongside current photos of the site.

Notably, the site also includes V4 charging posts for the company’s latest available charging speeds, and it’s located near the busy junction between I-5 and Highway 46 in Kern County.

“Thank you [Kern County] and [PG&E] for collaboration and approvals,” Tesla wrote in a follow-up post.

Credit: Tesla Charging | X

Credit: Tesla Charging | X

Credit: Tesla Charging | X

Credit: Tesla Charging | X

READ MORE ON TESLA SUPERCHARGERS: Tesla launches ultra-fast V4 Superchargers in China for the first time

Testing at the LA Diner, plus Musk update on potential Tesla solar Gigafactory

The huge Tesla Supercharger station completed phase one of construction fairly quickly, especially given how long Tesla has been working on its unique Los Angeles diner, drive-in, and Supercharger location. Still, the company was seen performing some testing at the nearly-completed charging station earlier this month, and will reportedly be holding a job fair.

Elon Musk also responded on Monday morning to a post on X, suggesting that Tesla is “thinking about” building a U.S.-based solar Gigafactory in order to help support increased power needs with AI growth, and to bolster domestic solar production.

Tesla is building a new UFO-inspired Supercharger in the heart of Alien country

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Tesla driver walks away from major accident with minor injuries

The driver sustained only minor injuries, and the exact cause of the crash remains under investigation.

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Credit: CHP Los Banos (via Facebook)

The driver of a Tesla Model Y survived and walked away from a harrowing accident on Monday in California, only sustaining minor injuries despite the vehicle being impaled by a guardrail.

On Monday morning around 4:34 a.m., the Los Banos division of the California Highway Patrol (CHP) responded to the accident on I-5 near Panoche Road, involving a 23-year-old in a Tesla Model Y. According to a post on social media, the driver veered off the road for unknown reasons in the northbound lane, before crashing directly into the guardrail and impaling the vehicle.

You can read the full message and photos from Los Banos CHP below, as were shared in a Facebook post on Monday afternoon.

This morning a Tesla model y was traveling in the #1 northbound lane of I-5 north of Panoche Rd. For unknown reasons driver allowed V-1 to veer off the roadway, travel through a dirt center divide, and crashed into the fixed metal guardrail. Lucky for the driver he only sustained minor injuries and was able to walk away. Driving a vehicle requires 100% attention to the road. Avoid distractions and focus on driving.

Credit: CHP Los Banos (via Facebook)

Credit: CHP Los Banos (via Facebook)

Credit: CHP Los Banos (via Facebook)

In a statement to SFGate, CHP officer Myles Anderson said that the driver only sustained minor injuries, while no arrests are made and drugs and alcohol are not suspected to have been involved. The report also notes that Tesla’s “cruise control and lane assistance features” were activated, according to Anderson. However, it’s not entirely clear if this is referring to Supervised Full Self-Driving (FSD), or to the cruise control and lane assist features baked into Autopilot.

At the time of writing, CHP has not yet responded to Teslarati’s request for clarification and additional details on the matter.

READ MORE ON TESLA SAFETY: Tesla rolls out crucial new safety feature aimed at saving children

The news comes after Tesla has touted its vehicles as incredibly safe for many years. In December, for example, the company highlighted receiving top safety scores from regulators on four different continents throughout the world, including from the National Highway Traffic Safety Administration (NHTSA) and the Insurance Institute of Highway Safety (IIHS) in the U.S.

Tesla has also listed the goal of making its vehicles the safest on the road throughout the years, both in the overall design of its vehicles and in its Autopilot and Full Self-Driving (FSD) programs.

Tesla Model 3 ranks as the safest new car in Europe for 2025, per Euro NCAP tests

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