- In Q2 2018, total vehicle production (Model S, X and 3 combined) was 53,339 units. Total vehicle deliveries was 40,768 units where 22,319 deliveries was made up by Model S and Model X and 18,449 deliveries was Model 3.
- Tesla achieved number 1 in terms of market share for Model 3 in the mid-sized premium sedan segment in US. Model 3 outsold all other mid-sized premium sedans combined, accounting for 52% market share of the respected segment.
- Tesla has achieved weekly production of 5000 Model 3 multiple times while also managed to produce 2000 Model S and X vehicles per week.
- A combined production of 7000 vehicles per week or 350,000 vehicles per year will enable Tesla to become sustainably profitable.
- Tesla has started the production of the performance version of Model 3 which incorporates the dual motor all-wheel drive. The performance version of Model 3 can accelerate from 0 to 60 mph in just 3.5 seconds and costs about $64,000.
- There is strong demand for Model 3 despite having only cash/loan purchase option for Model 3. Demand for Model 3 will accelerate when leases and less expensive variants are rolled out in future.
- Gigafactory 1 has become the highest volume battery plant in the world by having battery production reaching 20GWh. As a result, Tesla is producing more batteries than all automakers combined.
- 8 new stores and service locations were added in Q2, resulting in 347 locations worldwide.
- Tesla continues to expand its Mobile Service fleet. To date, there are 340 service vehicles on the road as of Q2.
- 103 new Supercharger locations were opened in Q2 for a total of 1308 Supercharger stations.
- Tesla announced plan to build Gigafactory 3 in Shanghai, China. Construction is expected to start in 2019. China is the largest electric vehicles in the world and the Chinese government is exceptionally supportive of electric vehicles.
- In Q2 2018, energy storage products (Powerpack and Powerwall combined) deployment grew 106% from Q2 2017 to 203 MWh. Total energy storage products deployment in first half of 2018 was 450% higher compare to the same period in 2017.
- Tesla achieved 1GWh of total energy storage products deployment in May 2018. This milestone was achieved in about 5 years and Tesla aims to repeat another 1GWh achievement in the next 9 to 12 months.
- Tesla expects the demand for its energy storage products to accelerate due to the benefit of battery storage for utilities and energy companies. For example, the 129 MWh Powerpack project in South Australia which was deployed in Q1 2018 has managed to reduce grid maintenance cost by 90%.
- Q2 total energy generation systems deployment was 84 MW, an 11% increase over Q1 2018 number.
- Tesla continues to showcase the benefit of its solar + storage solution to every Tesla vehicle owner through its App.
- Tesla is seeing a huge potential in cross-selling between its electric vehicles owners and energy products.
- Tesla plans to ramp the production of Solar Roof more towards the end of 2018 when the production and installation process is significantly simplified before deploying huge sum of capital into factory automation.
Disclosure: The authors have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
The authors wrote this article themselves, and it expresses their own opinions. The authors are not receiving compensation for writing the article. The authors have no business relationship with any company whose stocks are mentioned in this article.
1. Financial figures were obtained from Tesla Quarterly and Annual Reports.