![]() ![]() And there have been many calls, midnight, 1:00 AM, just to deal with suppliers in resolving a lot of the shortages, so thanks very much to our suppliers. And I'd also like to thank our suppliers, who work with us. It was an incredibly intense effort of finding new chips, writing new firmware, integrating with the vehicle and testing in order to maintain production. It's not just a matter of swapping out a chip. And then, write the firmware in a matter of weeks. We were able to substitute alternative chips. In fact, even achieving the output that we did achieve, was only due to an immense effort from people within Tesla. It does seem like it's getting better, but it's hard to predict. It is difficult for us to say how long this will last because we don't have - this is out of our control, essentially. The chip supply is fundamentally becoming a factor on our output. I mean, it's worth noting that if we had everything else, if we had vast numbers of vehicles themselves, we would not yet be able to make them, everything except the chips, we wouldn't be able to make them. For the rest of this year, our growth rate will be determined by the slowest part in our supply chain which is a - there's a wide range of chips that are at various times the slowest part in the supply chain. Regarding supply chain, while we're making cars at full speed, the global chip shortage situation remains quite serious. It also seems that public sentiment towards EVs is at an inflection point.Īnd at this point, I think almost everyone agrees that electric vehicles are the only way forward. ![]() I'd really like to congratulate every one at Tesla for the amazing job. We achieved record production, deliveries and surpassed over a $1billion in GAAP net income for the first time in Tesla history. To recap, Q2 2021 was the record quarter on many levels. But before we jump into Q&A, Elon has some opening remarks, Elon? During the question-and-answer portion of today's call, please limit yourself to one question and one follow-up. Actual events and results could differ materially, due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. ![]() These comments are based on our predictions and expectations as of today. During this call, we will discuss our business outlook and make Forward-looking statements. Our Q2 results were announced at about 1 PM Pacific Time, in the update deck we published the same link as this webcast. I'm joined today by Elon Musk, Zachary Kirkhorn, and a number of other executives. And welcome to Tesla's Second Quarter 2021, Q&A Webcast. I would now like to hand the conference over to your speaker today, Martin Viecha, Senior Director of Investor Relations. Please, be advised that today's conference is being recorded. ![]() After the speakers' presentation, there will be a question-and-answer session. At this time, all participants are in a listen-only mode. Welcome to the Tesla Second Quarter 2021 Financial results and Q&A webcast. Lars Moravy - Vice President of Vehicle EngineeringĪndrew Baglino - Senior Vice President of Powertrain and Energy Engineering Zachary Kirkhorn - Chief Financial Office Martin Viecha - Senior Director of Investor Relations ( NASDAQ: TSLA) Q2 2021 Earnings Conference Call J5:30 PM ET ![]()
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