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Tesla (TSLA) is about to release Q2 2023 financial results today, Wednesday, July 19, after the markets close. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.

Here we’ll take a look at what both the street and retail investors are expecting for the quarterly results.

Tesla Q2 2023 deliveries

As usual, Tesla already disclosed its Q2 vehicle delivery and production numbers, which drive the vast majority of the company’s revenue.

Earlier this month, Tesla confirmed that it delivered a new record of over 422,000 electric vehicles during the first quarter of the year.

Tesla also confirmed that it was able to produce a new record of nearly 480,000 vehicles during the quarter.

Delivery and production numbers are always slightly adjusted during earning results.

Tesla Q2 2023 revenue

For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers.

The Wall Street consensus for this quarter is $24.220 billion, and Estimize, the financial estimate crowdsourcing website, predicts a higher revenue of $24.836 billion.

This would represent a marginal increase over the previous quarter since even though Tesla achieved record deliveries, it had to slash prices to achieve it.

It would be a massive increase in revenue over the same period last year, but that wouldn’t be a great comparison since Tesla had to shut down Giga Shanghai during that time in 2022 temporarily.

Here are the predictions for Tesla’s revenue over the past two years, with Estimize predictions in blue, Wall Street consensus in gray, and actual results are in green:

Tesla Q2 2023 earnings

Tesla always attempts to be marginally profitable every quarter as it invests most of its money into growth, and it has been successful in doing so over the last two years now.

For Q2 2023, the Wall Street consensus is a gain of $0.80 per share, while Estimize’s prediction is higher with a profit of $0.87 per share.

Despite anticipating record revenue, Wall Street expects earnings to be down from last quarter because of the previously mentioned price cuts,

Here are the earnings per share over the last two years, where Estimize predictions are in blue, Wall Street consensus is in gray, and actual results are in green:

Other expectations for the TSLA shareholder’s letter and analyst call

Much of the shareholder focus is likely going to be around gross margin and operational profitability at the current price level, which has dropped significantly throughout the year.

With Tesla Energy achieving record quarters that are slowly starting to have a small impact on Tesla’s broader performance, it might be a point of interest again this quarter.

But looking at top-voted shareholders’ questions, it looks like the Tesla shareholder community is more interested in looking into the future.

Here are the top five questions that Tesla is likely going to answer during the conference call:

  • Has any automaker approached Tesla to license FSD?
  • When will you get more information about our Cybertruck orders? Estimated delivery schedules, pricing, and specifications?
  • Have you considered allowing FSD transferability as a lever to allow existing customers to upgrade to a new Tesla instead of being locked in to existing cars due to price of FSD?
  • What is the status of the 4680 Cell? How far are you from the specs you laid out on battery day? When do you expect to achieve what you laid out on Battery Day?
  • As you open the supercharger network in North America to other EVs, do you plan to accelerate anticipatory investments in supercharger expansion to avoid congestion, and how will you deal with long lead times to upgrade electric T&D services to these areas for multi-megawatt loads?

You can join us live on Electrek this evening for intensive coverage of Tesla’s Q2 2023 financial results starting at around 4 p.m. ET for the results and through the evening for news coming out of the conference call and results.

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Tesla is now buying ads on Elon Musk’s X to get people to vote for his $1 trillion compensation

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Tesla is now buying ads on Elon Musk's X to get people to vote for his  trillion compensation

Tesla is now buying advertising on Elon Musk’s X (formerly Twitter) to get Tesla shareholders to vote for his CEO compensation package worth up to $1 trillion in stock options.

Tesla, under Elon Musk’s leadership, has famously been against advertising. The CEO is even on the record saying that he “hates advertising” and that “other companies spend money on advertising and manipulating public opinion, Tesla focuses on the product.”

However, that was before he acquired Twitter, now X, which relies heavily on advertising.

After that, he started to push Tesla to do some advertising, but the company quickly stopped or greatly reduced its advertising efforts.

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We reported that Tesla’s advertising effort picked back up last week, starting with a few Google ads to encourage Tesla shareholders to vote for Musk’s new unprecedented CEO compensation package worth up to $1 trillion.

The automaker is in a full-on marketing blitz to convince shareholders to vote for the package and to allow Tesla to issue more shares in exchange.

Now, Tesla is even buying social media ads to push shareholders to vote for Musk’s compensation package and they are even buying ads on Musk’s privately owned platform, X:

They are also buying ads on Instagram, Facebook, and Reddit.

As we previously reported, Tesla’s board has claimed that voting for the compensation package will determine the future of Tesla.

Musk went even further and linked his compensation package to the future of the world.

Earlier today, the CEO claimed that his compensation plan is not about money, but about control over Tesla:

It’s not about “compensation”, but about me having enough influence over Tesla to ensure safety if we build millions of robots. If I can just get kicked out in the future by activist shareholder advisory firms who don’t even own Tesla shares themselves, I’m not comfortable with that future.

The CEO previously threatened Tesla shareholders not to build AI products at Tesla, despite claiming they were critical to the company’s future, if he doesn’t get 25% control over the company.

Electrek’s Take

The CEO of a publicly traded company threatens shareholders to gain control over the company and uses company funds to purchase ads that benefit his privately held company, with the goal of persuading the shareholders of the publicly traded company to give him more money.

If that’s not late-stage capitalism, I don’t know what is.

Also, I know I won’t shock anyone here, but Elon is lying about this not being about money.

If he wants to increase his percentage of Tesla shares, he could do exactly what his friend Larry Ellison did with Oracle and do long-term buybacks. It would benefit everyone, but it’s not what he wants. He wants the shiny new stock options.

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NYC’s newest EV charger hangs 10 feet high on a lamppost

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NYC’s newest EV charger hangs 10 feet high on a lamppost

Voltpost just rolled out the Voltpost Air, its next-gen lamppost EV charger in New York City, and this one comes with a key twist: it’s mounted 10 feet above ground.

The Voltpost Air uses that elevated design with a retractable cable system to protect against weather damage and vandalism, setting it apart from Voltpost’s original curbside charger. It’s also built for faster installation, broader pole compatibility, and better reliability.

It can be installed on both wooden and metal lampposts and utility poles, curbside or in parking lots. Site hosts can deploy one or two chargers per pole, making it a flexible option for cities and property owners. Drivers can pay with the app or by tapping with a credit card. Voltpost Air supports Level 2 charging, up to 9.6 kW per charging port. 

Luke Mairo, COO and cofounder of Voltpost, said that “the modular design and quick installation reduce costs and complexity, making it easier than ever to expand charging infrastructure.” Voltpost is already operating chargers in Oak Park, Illinois, and at the American Center for Mobility near Detroit. The company has projects underway in New York, California, Michigan, Illinois, Connecticut, and Massachusetts.

Former US Joint Office of Energy and Transportation executive director Gabe Klein, now a Voltpost board advisor, said, “The transition to renewable transportation requires bold, scalable solutions that can integrate seamlessly into existing urban infrastructure. Technologies like Voltpost’s lamppost chargers are vital because they unlock new opportunities to deploy EV charging.”

The Brooklyn installation is part of New York City Economic Development Corporation’s (NYCEDC) Pilots at Brooklyn Army Terminal (BAT) program, which supports climate-tech companies in scaling new solutions. It’s expected to be available to the public by the end of the year. New York State Energy Research and Development Authority (NYSERDA) president and CEO Doreen M. Harris called the model “highly replicable” and said it could be adopted across New York State.

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Voltpost Air is now available for deployment at public and private sites.

Read more: Voltpost just flipped the switch on its first public lamppost EV charger


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Kia’s electric van was spotted in the US again, but this time it looks a little different

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Kia's electric van was spotted in the US again, but this time it looks a little different

Is Kia’s electric van finally coming to the US? The Kia PV5 was caught testing with a unique design, hinting it’s destined for the US.

Is Kia’s electric van coming to the US?

Although Kia has yet to announce it publicly, all signs point to the PV5 launching in the US. In February, the electric van was first spotted charging at a station in Indiana.

A few photos and a video sent to Electrek confirmed it was indeed the Kia PV5. The sighting came somewhat as a surprise, as the only official statement from Kia said the PV5 would arrive in Europe and South Korea this year, followed by “launches in other markets” in 2026, but no mention was made of the US.

After another PV5 was spotted in Arizona, rumors that Kia’s electric van was coming to the US began to surface again.

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Kia still has yet to confirm or deny a US launch, but another sighting hints at the PV5’s imminent debut. The latest spotting, by KindelAuto, appears to be of the US-spec 2026 Kia PV5.

It looks about the same as the Kia PV5 Passenger, which is already available in parts of Europe and South Korea. However, although it’s not very clear, Kia’s electric van appears to have added side marker lights, a requirement in the US.

Following its launch in the UK earlier this year, the Kia PV5 Passenger is now being introduced to new European markets.

Kia-electric-van-spotted-US
The Kia PV5 Passenger electric van (Source: Kia)

In the UK, it starts at £32,995 ($44,000) on the road. In Germany, the PV5 Passenger is priced from €38,290 ($45,000) or €249 per month.

Kia’s electric van is available in two variants: Passenger, for everyday driving, and Cargo, for business use. The PV5 Passenger is available with two battery pack options: 51.5 kWh and 71.2 kWh, providing WLTP ranges of 183 miles and 256 miles, respectively. Meanwhile, several more variants are on the way.

Kia's-electric-van-spotted-US
Kia PV5 tech day (Source: Kia)

During its PV5 Tech Day in July, we learned that Kia plans to launch seven PV5 body types, including a Light Camper, a premium “Prime” Passenger model, and an open bed version.

We’ll have to wait for the official word, but there’s still hope Kia’s electric van will make it to the US. We should find out soon. Can we get the EV5 too? That might be pushing it.

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