Tesla's Moment of Fire and Ice - 36Kr

Tesla hit a milestone with its 10 millionth EV rolling off the line, but its Q2 revenue rose even as net income, operating profit, and auto gross margin all declined.

The company is ramping up spending on Robotaxi, Optimus, compute, and in-house chips, while capex and operating expenses surged, raising concerns about near-term profitability.

Reports also suggested Tesla may explore spinning off or selling its China business as part of a potential combination strategy, adding to investor uncertainty.

Shares fell sharply after earnings, underscoring the tension between Tesla’s big AI ambitions and the market’s demand for clearer earnings and cash-flow visibility.