Cybercab

Tesla sold 480,126 vehicles in Q2, surpassing Wall Street estimates amid rising gas prices linked to the Middle East war. The company's EV sales growth contrasts with a 27% decline in broader US EV market sales, driven by high fuel costs boosting demand in Europe. Tesla is shifting production toward its Optimus robot and Cybercab robotaxi.

A self-driving bus in Gothenburg, Sweden, was rear-ended by a tram on its second passenger trip, causing minor damage but no serious injuries. The autonomous bus project, requiring on-board drivers, aims to test self-driving public transport until 2027.

Tesla's Cybercab is now in production at the Austin, Texas Gigafactory, but Elon Musk has expressed cautious optimism. The robotaxi's production began in February with limited units, but full-scale manufacturing only started this month, raising questions about delayed rollout plans.

Tesla reported a 16% year-over-year revenue increase to $22.4 billion in Q1 and a 17% rise in net income to $477 million, but operating expenses surged 37% to $3.78 billion, cutting operating margins to 4.2%. CEO Elon Musk is prioritizing AI-driven projects like the Optimus robot, Cybercab, and AI chips, with plans to shift production away from the Model S, Model X, and eventually the Model Y. Tesla anticipates major capital expenditures and partnerships, including a 'largest chip fab ever' with SpaceX.