Tesla has announced the new date for its Robotaxi unveiling event, which will take place on October 10. The event was originally scheduled for August 8, but the company decided to delay it due to internal plans to make changes to the Robotaxi design. CEO Elon Musk confirmed the new date, stating that the company will officially release the design and provide more details on the next-generation vehicle platform, which other Teslas will be built upon.

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Tesla Cybertruck driver Craig Coker shared a video of the all-electric pickup truck driving fast on a dirt road, reaching speeds of about 60 mph. The video was taken with a First Person View (FPV) drone and shows the Cybertruck driving aggressively. Craig Coker is a Tesla racer who has taken the Cybertruck to the track before.

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General Motors (GM) has suspended plans for its Cruise Origin self-driving vehicle to focus on a next-generation vehicle. Former CEO and Cruise co-founder Kyle Vogt expressed disappointment over the decision, stating that it would have been amazing for cities. GM initially halted production of the driverless vehicle last year and has a history of having a 5-10 year head start, only to fumble and lose the lead.

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Rivian has garnered over 100,000 pre-orders for its upcoming R2 line, according to VP of Manufacturing Tim Fallon. The company has also increased production output by 30 percent at its factory in Normal, Illinois. The R2 pre-orders continue to climb organically as the company focuses on pushing its current products, including the R1 and R1 gen 2.

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Tesla (NASDAQ-TSLA) released its Q2 2024 earnings report, producing 410,831 vehicles and delivering 443,956 vehicles worldwide. The company delivered 422,405 Model 3 sedans and Model Y crossovers, beating Wall Street analysts' expectations of 438,019 vehicle deliveries. The report was released after the closing bell on Wednesday, July 23, 2024.

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Tesla has updated its Cybertruck production rates, stating that the manufacturing rate has more than tripled sequentially. The company claims the pickup will be profitable by the end of the year. Deliveries of the Cybertruck began less than a year ago, and Tesla has been able to increase production while moving towards profitability.

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Tesla confirmed it is on pace to launch new vehicles, including affordable models, in early 2025. The company had previously stated it would have a lower growth rate in 2024 due to its focus on a next-generation platform, including Robotaxi. The new vehicles and platform are expected to drive growth in the future.

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Tesla's Q2 2024 earnings call is scheduled to start in approximately 1.5 hours, following the release of the company's Q2 2024 Update Letter. The company reported total revenues of $25.5 billion, with automotive revenues of $19.878 billion, and non-GAAP earnings per share of $0.52. Tesla also posted a GAAP operating income of $1.6 billion after restructuring charges of $600 million.

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Tesla spent $583 million in employee termination fees, which affected its profitability and operating expenses. The company posted non-GAAP EPS of $0.52, lower than the Street's expectations of $0.61-$0.62. The restructuring charges were listed in Tesla's Q2 2024 Update Letter and its SEC Form 10-Q.

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Tesla CEO Elon Musk confirmed details about the Robotaxi, including its production site and manufacturing process, ahead of its unveiling on October 10, 2024. The company's plans for new vehicles, including more affordable models, are still on track for the start of production in the first half of 2025. These vehicles will utilize aspects of its Full Self Driving (FSD) technology.

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