Tesla’s Q2 Deliveries Strong, But What’s To Come?
How did Tesla's energy storage deployments perform in Q2?
Tesla's energy storage deployments in Q2 2024 reached a record 9.4 GWh, more than doubling its Q1 deployments of 4.1 GWh. This represents a 132% increase quarter-over-quarter and a 157% increase year-over-year, showcasing the growing importance of the energy division to Tesla's bottom line6.
What caused Tesla's 42% rally in one month?
Tesla's 42% rally in one month was driven by its Q2 delivery beat and optimism for its robotaxi reveal event2. The company delivered 443,956 EVs in Q2, and reported a surge in energy storage deployments. Additionally, there was increased optimism for a rate cut, which would benefit Tesla as vehicle financing and EV demand are heavily dependent on interest rates.
Why was Tesla's robotaxi reveal postponed to October?
Tesla's robotaxi reveal was postponed to October to give the company's engineering team more time to build and test prototypes. The decision was communicated internally and comes as Tesla faces challenges in the electric vehicle market, with production and deliveries set to decline in 2024.