Slide 1: Q2 2021 Update
Q2 2021 Update Exhibit 99.1
Slide 2: Highlights, Financial Summary, Operational Summary and contents
Highlights 03 Financial Summary 04 Operational Summary 06 Vehicle Capacity 07 Core Technology 08 Other Highlights 09 Outlook 10 Photos 11 Key Metrics 19 Financial Statements 21 Additional Information 27
Slide 3: Highlights
In the second quarter of 2021, we broke new and notable records. We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0% and exceeded $1B of GAAP net income for the first time in our history. Supply chain challenges, in particular global semiconductor shortages and por
Slide 4: Financial Summary
F I N A N C I A L S U M M A R Y (Unaudited) 4 (1) Prior period results have been retroactively adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020. EPS = Earnings per share
Slide 5: Financial Summary
F I N A N C I A L S U M M A R Y Revenue Profitability Cash Total revenue grew 98% YoY in Q2. This was primarily achieved through substantial growth in vehicle deliveries, as well as growth in other parts of the business. At the same time, vehicle ASP1 declined by 2% YoY as Model S and Model X delive
Slide 6: Operational Summary
Days of supply is calculated by dividing new car ending inventory by the relevant quarter’s deliveries and using 75 trading days (aligned with Automotive News definition). In Q2 2021, we began including mobile service vehicles dedicated to tire repair in our mobile service fleet total. Prior period
Slide 7: Vehicle Capacity
V E H I C L E C A P A C I T Y Global demand continues to be robust, and we are producing at the limits of available parts supply. While we saw ongoing semiconductor supply challenges in Q2, we were able to further grow our production. US: California and Texas Production ramp of Model S progressed ov
Slide 8: Core Technology
C O R E T E C H N O L O G Y Autopilot and Full Self Driving (FSD) After selling over a million vehicles equipped with radar, we have collected enough data to start removing it in some regions. The removal of radar, which is enabled by our collection of a vast dataset of corner cases, allows us to fo
Slide 9: Other Highlights
O T H E R H I G H L I G H T S Energy Storage Energy storage deployments more than tripled YoY in Q2, driven mainly by recognition of several Megapack projects. Energy storage deployments can vary meaningfully quarter to quarter depending on the timing of specific project milestones. Powerwall remain
Slide 10: Outlook
O U T L O O K Volume Cash Profit Product We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. In some years we may grow faster, which we expect to be the case in 2021. The rate of growth wi
Slide 11: Photos
P H O T O S
Slide 12: Gigafactory Berlin - Model Y Factory Construction
12 G I G A F A C T O R Y B E R L I N - M O D E L Y F A C T O R Y C O N S T R U C T I O N
Slide 13: Gigafactory Berlin - Paint Shop
13 G I G A F A C T O R Y B E R L I N - P A I N T S H O P
Slide 14: Gigafactory Texas - Model Y Factory Construction
14 G I G A F A C T O R Y T E X A S - M O D E L Y F A C T O R Y C O N S T R U C T I O N 6 months ago Present day
Slide 15: Gigafactory Texas - Stamping Press
15 G I G A F A C T O R Y T E X A S - S T A M P I N G P R E S S
Slide 16: Gigafactory Texas - Model Y Body Shop
16 G I G A F A C T O R Y T E X A S - M O D E L Y B O D Y S H O P
Slide 17: Gigafactory Texas - Model Y Factory Construction
17 G I G A F A C T O R Y T E X A S - M O D E L Y F A C T O R Y C O N S T R U C T I O N
Slide 18: Gigafactory Shanghai - Expansion Continues
G I G A F A C T O R Y S H A N G H A I - E X P A N S I O N C O N T I N U E S 18
Slide 19: Key Metrics Quarterly
Vehicle Deliveries (units) K E Y M E T R I C S Q U A R T E R L Y (Unaudited) 19 Operating Cash Flow ($B) Free Cash Flow ($B) Net income ($B) Adjusted EBITDA ($B)
Slide 20: Key Metrics Trailing 12 Months (TTM)
Vehicle Deliveries (units) Operating Cash Flow ($B) Free Cash Flow ($B) K E Y M E T R I C S T R A I L I N G 1 2 M O N T H S ( T T M ) (Unaudited) 20 Net income ($B) Adjusted EBITDA ($B)
Slide 21: Financial Statements
F I N A N C I A L S T A T E M E N T S
Slide 22: Statement of Operations
S T A T E M E N T O F O P E R A T I O N S (Unaudited) 22 (1)Prior period results have been retroactively adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020.
Slide 23: Balance Sheet
B A L A N C E S H E E T (Unaudited) 23
Slide 24: Statement of Cash Flows
S T A T E M E N T O F C A S H F L O W S (Unaudited) 24
Slide 25: Reconciliation of GAAP to Non-GAAP Financial Information
R e c o n c I l I a t I o n o f G A A P t o N o n – G A A P F I n a n c I a l I n f o r m a t I o n (Unaudited) 25 (1) Prior period results have been retroactively adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020.
Slide 26: Reconciliation of GAAP to Non-GAAP Financial Information
R e c o n c I l I a t I o n o f G A A P t o N o n – G A A P F I n a n c I a l I n f o r m a t I o n (Unaudited) 26 TTM = Trailing twelve months
Slide 27: Additional Information
A D D I T I O N A L I N F O R M A T I O N WEBCAST INFORMATION Tesla will provide a live webcast of its second quarter 2021 financial results conference call beginning at 2:30 p.m. PT on July 26, 2021 at ir.tesla.com. This webcast will also be available for replay for approximately one year thereafte
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