Tesla (TSLA) will release its Q2 2025 financial results on Wednesday, July 31, after the market closes. As usual, a conference call and Q&A with Tesla’s management are scheduled after the results.
Here, we’ll look at what the street and retail investors expect for the quarterly results.
Tesla Q2 2025 deliveries and energy deployment
CEO Elon Musk and his loyal shareholders often claim that Tesla is now an AI/Robotics company. However, the truth is that the company’s automotive business continues to drive the vast majority of its financial performance.
Tesla’s revenue remains tied mainly to the number of vehicles it delivers.
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Earlier this month, Tesla disclosed its Q2 2025 vehicle production and deliveries:
Production
Deliveries
Subject to operating lease accounting
Model 3/Y
396,835
373,728
2%
Other Models
13,409
10,394
7%
Total
410,244
384,122
2%
The deliveries came in right on expectation, which is about 13.5% down from the same period last year.
Tesla also produced 25,000 vehicles more than it delivered, but that won’t affect its financials this quarter as the automaker only accounts for delivered vehicles in its cost of revenues.
The company also disclosed having deployed 9.6 GWh of energy storage during the quarter – roughly the same as the same period last year.
Tesla Q2 2025 revenue
For revenue, analysts generally have a pretty good idea of what to expect, thanks to the delivery numbers and now the energy storage deployment data.
The Wall Street consensus for this quarter is $22.279 billion, and Estimize, the financial estimate crowdsourcing website, predicts a slightly lower revenue of $22.202 billion.
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:
This result would be significantly lower than the $25 billion in revenue that Tesla delivered during the same period in 2024.
It’s worth nothing that over the last 3 quarters, Tesla’s revenue came under expectations.
Tesla Q2 2025 earnings
Tesla claims to consistently strive for marginal profitability every quarter, as it invests the majority of its funds in growth, but its growth has disappeared from its automotive business over the last year, and its gross margin is going in the same direction.
Analysts are trying to estimate Tesla’s gross margin with the lower deliveries and higher discounts to figure out its actual earnings per share.
For Q2 2025, the Wall Street consensus is a gain of $0.40 per share and Estimize’s crowdsourced prediction is a little lower at $0.39.
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:
If Tesla delivers on expectations, it would be a significant drop in earnings from $0.52 per share in Q2 2024.
Other expectations for the TSLA shareholder’s letter, analyst call, and special ‘company update’
In Q1, Tesla blamed its poor performance on the Model Y changeover. It doesn’t have this excuse in the second quarter.
But I expect Musk to have Tesla shareholders focus on future revenue prospects from robotaxi and robots, something he has been prosming for years without any real evidence that Tesla will lead any of those sectors.
Tesla will also take questions from retail shareholders based on the most popular ones on Say. Here are the top 5 questions and my thoughts on them:
Can you give us some insight how robotaxis have been performing so far and what rate you expect to expand in terms of vehicles, geofence, cities, and supervisors?
Tesla has never released publicly any data about its self-driving efforts and it went out of its way to avoid reporting it to authorities and the public. I expect nothing here other than “we are growing as fast as regulators allow it”, which is a lie. Tesla still uses safety supervisors and mapping, which are the limiting factors.
Can you provide an update on the development and production timeline for Tesla’s more affordable models? How will these models balance cost reduction with profitability, and what impact do you expect on demand in the current economic climate?
Tesla said that those cheaper models would come in the first half of 2025, but they didn’t. As we have previously mentioned, they are basically stripped down versions of the Model 3 and Model Y, allowing Tesla to reduce the base price. We expect them to launch after the federal tax credit to end at the end of Q3.
What are the key technical and regulatory hurdles still remaining for unsupervised FSD to be available for personal use? Timeline?
Tesla hasn’t solved self-driving and it is not coming to consumer vehicles any time soon.
What specific factory tasks is Optimus currently performing, and what is the expected timeline for scaling production to enable external sales? How does Tesla envision Optimus contributing to revenue in the next 2–3 years?
When do you anticipate customer vehicles to receive unsupervised FSD?
He is going to say “next year” like he has been saying every year for the last 6 years and again, it won’t happen.
Anything to distract from the fact that Tesla might start to become unprofitable as soon as Q1 2026.
Tesla’s earnings have been going down over the last 2 years and the trend is clear. Furthermore, the removal of the federal tax credit for EVs in the US, Tesla’s healthiest large market, and most ZEV credits going away are accelerating the trend in Q4 2025 and Q1 2026.
Tune in with Electrek after market close today to get all the latest news from Tesla’s earnings, conference call, and now also an apparent “company update.”
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There’s an odd irony in utility-scale construction: working for the power company doesn’t always mean you have power. That lack of accessible grid power makes it tough to fully decarbonize some construction sites, no matter how committed they are to reducing emissions. That’s where Hitachi Energy’s new HyFlex hydrogen generator comes in, offering off-grid charging without the harmful emissions of diesel.
Hitachi Energy successfully deployed its first-ever customer HyFlex hydrogen fuel cell (HFC) generator in Rotterdam, Netherlands, where the generator will replace an equivalent diesel generator producing 500-kilovolt-amperes (kVA). In doing so, the HyFlex-powered construction site will save 200,000 gallons of diesel fuel per year, and reduce the company’s carbon-dioxide emissions by ~2,900 tons.
Like an automotive fuel cell, the HyFlex generator delivers electricity and usable heat with almost no noise, and each mWh of power requires about 70 kg of hydrogen (compared to just over 70 gallons of diesel for the same amount, which would produce more than 700 kg of CO₂).
“At Hitachi Energy, we are committed to providing innovative solutions and technologies that inspire the next era of sustainable energy,” explains Marco Berardi Head of Grid & Power Quality Solutions and Service, Hitachi Energy. “We recognize that the entire energy ecosystem needs to move in the same direction. We are proud to have showcased HyFlex in the Netherlands, thanks to a unique collaboration with key industry players.”
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Those industry players include Air Products, one of the world’s largest hydrogen suppliers, Dura Vermeer, a leader in sustainable and innovative construction solutions, and (of course) Hitachi Construction Machinery.
You’re not gonna believe this
Hitachi ZE135 electric excavator; via Hitachi.
Hitachi makes lots of stuff, and lots of different kinds of stuff. One kind of stuff it makes is highly capable construction equipment – just like the Hitachi ZE135 electric excavator. It’s just one of the big, battery-powered heavy equipment assets that’s set to be charged by the HyFlex generator on the Dura Vermeer site in Rotterdam.
The 15-ton Hitachi ZE135 ships with a 298 kWh battery and packs a 160 kW electric motor. The quiet, energy-efficient combination that’s good for up to six hours of continuous operation.
Hitachi plans to have a full zero-emission “ecosystem” on display at the Dura Vermeer pilot site, with plans to deploy similar low carbon ecosystems in noise-and pollution-sensitive areas like hospitals, critical data centers, disaster relief efforts, or shore-to-ship power applications.
No word on what Dura Vermeer paid for their HyFlex.
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General Motors (GM), EVgo, and Pilot Co. just hit a milestone: their joint EV charging network can now be found at more than 200 locations across nearly 40 states. They’ve rolled out almost 850 new fast-charging stalls in just over two years.
Less than a year ago, it spanned 25 states; now it covers almost 40. Some of the newest additions include Colorado, South Carolina, Louisiana, Mississippi, North Dakota, South Dakota, and Wyoming, with big growth across Texas, Missouri, and Florida, including in rural counties, where EV chargers are still scarce.
The chargers are sited at Pilot and Flying J locations, which means drivers can access free Wi-Fi, restaurants, groceries, and convenience items while they charge. The EVgo stalls can deliver up to 350 kW, cutting charging times and quickly getting people back on the road. Many sites include overhead canopies for weather protection and pull-through stalls for trucks, trailers, and vans. Plug and Charge is also available for compatible EVs.
EVgo CEO Badar Khan said the goal is to make highway charging as flexible as the American road trip itself: “Our EVgo eXtend network, built in collaboration with Pilot and GM, is delivering reliable charging to communities large and small – ensuring freedom of fueling choice for every driver.”
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GM is adding more electric models across Chevrolet, GMC, and Cadillac, and it wants its customers to be able to take them wherever they want to go. Wade Sheffer, VP of GM Energy, said, “Through our collaboration with Pilot and EVgo, we’re committed to helping ensure that charging access doesn’t get in the way of your EV journey.”
The three companies announced their collaboration in 2022, with a goal of building up to 2,000 fast-charging stalls at up to 500 Pilot and Flying J locations across the US. They’re nearly halfway there: By the end of 2025, they expect to hit 1,000 stalls across 40 states.
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Harley-Davidson’s electric spin-off brand LiveWire may be gearing up to launch a new model under the name “S4 Honcho,” according to a recent trademark filing with the United States Patent and Trademark Office (USPTO).
The trademark was filed for use on “electric motorcycles and structural parts therefor.” That’s about as vague as it gets, but it’s enough to get the speculation wheels turning, especially since the name “Honcho” feels a little more wild west than LiveWire’s current city-slicker lineup.
LiveWire currently offers two motorcycle platforms: the flagship LiveWire One, and the more affordable S2 line (which just went on supersale), built on a more adaptable platform that currently serves the S2 Del Mar, S2 Mulholland, and S2 Alpinista. The company has already previewed two more models in the works, likely to become the new S3 platform, and so this “S4 Honcho” filing could be our first hint at an entirely new platform. Based on LiveWire’s naming system, an S4 designation would point to a larger, more premium electric motorcycle, potentially even one with touring or adventure capabilities. It also fits with previous indications from LiveWire that an S4 flagship platform could follow in the future.
That fits with the name “Honcho,” which carries an aggressive, take-the-lead kind of vibe. Could this be LiveWire’s entry into the ADV segment? Or perhaps a full-size electric cruiser to win over traditional Harley riders who haven’t yet gone electric? Is it meant to compete with heavier-weight gas motorcycles? Or could it be something else entirely? Such new directions could help expand LiveWire’s currently limited lineup into new categories, especially as more brands enter the commuter and urban e-moto space. But at the same time, LiveWire has struggled to move its already full-sized electric motorcycles, leading many to speculate that its best chance of short-term success could lie in the upcoming smaller format and more affordable S3 line.
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Of course, it’s worth noting that companies often file trademarks for names that never see the light of day, or that take many years to eventually work their way to production. Filing for trademarks early is a common industry tactic to secure intellectual property, even if a product isn’t finalized yet – or might not be built at all. Still, the fact that LiveWire has applied for the S4 Honcho trademark suggests this is more than a back-of-the-napkin idea.
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