SMM: recently, Musk, CEO of the electric car manufacturer, said on the second quarter earnings call: "if you mine nickel efficiently in an environmentally friendly way, Tesla will provide you with a huge contract for a long time." At the same time, he said that Tesla's next automatic assembly plant will be set up in Austin, Texas.
"although our main plant in Fremont was closed for nearly half a quarter, we reported GAAP profits for the fourth quarter in the second quarter of 2020," Tesla said in a letter to shareholders on Wednesday. At the same time, it generated $418 million in positive free cash flow, "Tesla said in a letter to shareholders. "We believe that the progress we made in the first half of this year has enabled us to succeed in the second half of 2020. The output of our existing facilities is increasing to meet demand, and we are increasing our capacity. "
The company said its Fremont and Shanghai plants would have a production capacity of more than 500000 vehicles this year. Mr Musk said on Wednesday that Tesla was building a new factory near Berlin for the European market. Tesla's next American car plant will be built in Texas.
Musk also discussed Tesla's progress in self-driving software, but did not provide a specific date for its public listing. The company's progress in designing efficient car plants; plans to expand its internal insurance products from California to other states in the United States; and to purchase more nickel and other materials for its batteries. He also specifically pointed out that Tesla will use lithium iron phosphate battery packs to sell Model 3s in China. Although the battery has high durability and is widely used in China, it is usually heavier and lower energy density than the nickel cathode battery that Tesla has been using in its cars.
"for example, with Model 3, our overall vehicle efficiency is good enough, and we are really comfortable to have lithium iron phosphate battery packs in China's Model 3," Musk said. "this will be mass produced later this year."
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