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Elon Musk announces Tesla’s record-breaking Q2 from Giga Texas site in Austin

Elon Musk joined Tesla's second quarter earnings call from the Giga Texas site in Southeast Travis County on Monday. (Bob Daemmrich)

Tesla CEO Elon Musk announced a record-setting second quarter during an earnings call broadcasted from the Giga Texas construction site in Southeast Travis County on Monday.


The electric carmaker reported more than $1 billion in quarterly net income and the production of more than 200,000 vehicles for the first time despite challenges such as a global semiconductor shortage.

"It … seems that public sentiment towards electric vehicles is at an inflection point, and at this point, I think, almost everyone agrees electric vehicles are the only way forward," Musk said.

Despite rising consumer demand and adequate factory capacity, Tesla faces what Musk described as a "quite serious" global semiconductor shortage, which will determine the company's growth rate for the rest of the year.

With increased revenue and production, Tesla is investing in new factories, Chief Financial Officer Zachary Kirkhorn said. These include Giga Texas, the $1.1 billion manufacturing plant that broke ground last summer and is slated to open later this year.

The Giga Texas factory in Southeast Travis County has rapidly increased in size since ground broke last August. (Tesla)

Musk commended the construction team for "incredible progress," transforming what was basically a vacant site into "a mostly complete large factory a year later."

Giga Texas will produce the highly anticipated Cybertruck, along with other models, but Musk said scaling its production will be difficult, especially given the supply chain delays caused by the pandemic. "It's going to move as fast as the slowest of its up to 10,000 unique parts," he said.

In other news, Musk said Monday's earnings call would likely be his last regular appearance, only jumping on future quarterly calls when big announcements warrant it.

Tesla Solar recently made news when it announced plans to build the nation's most sustainable residential community in Southeast Austin earlier this month. The newly built homes will feature Tesla solar roof tiles and Powerwall battery storage as well as electric vehicle charging stations.

Popular

Tito's releases (not so?) ugly sweater line for the holidays, profits to charity

Tito's Handmade Vodka

Show your love for Tito's and for the community this year with a wide selection of not that ugly, uglyish, ugly, uglier, and ugliest holiday sweaters.

There's lots choose from, and plenty of accessories like scarves and socks, plus gear for your dog, too.

All of the items can be purchased online or at the Love, Tito’s Retail Store in Austin, TX. 100% of all net proceeds from online or in-store purchases go to one of the nonprofits we’ve teamed up with.

Click here to see the entire collection in the Tito's store.

Mac and Cheese Fest and Free Art Exhibit
Waterloo Greenway, Good Vibrations Installation


🗓 All weekend

🎨 Creek Show Art Exhibit

Check out this highly anticipated art exhibition with illuminated art along Waller Creek. Tickets are free and the event includes food vendors, dazzling lights, live music, and hands-on activities

All weekend 6 p.m - 10 p.m | 📍Waterloo Park

✨ Mozart's Light Show

This iconic holiday tradition lights up for the first time this holiday season starting this weekend! Reserve your spot for an enchanting light and sound performance, delicious hot cocoa, sweet treats, and some overall fun with your friends or family. The show runs till January 6th.

6 p.m and 9 p.m | 📍Mozart's Coffee Roasters - 3825 Lake Austin Blvd, Austin, TX 78703

🗓 Saturday

🥊 Kickboxing in the Park

This fitness event is free and open to the public. Get your morning started right with a "Fitness in the park" class for kickboxing! The class will be led by certified instructors and is a great way to get a cardio workout in while also honing your self-defense skills.

10 a.m - 11 a.m | 📍 Metz Park

🛍 The Front Market

Support local LBGTQ+ and female artists at this outdoor market with over 150 vendors. Get your holiday shopping out of the way at this event, with vendors for food trucks, handmade goods, raffles, hands on workshops and activities, and more.

11 a.m - 5 p.m | 📍Ani's Day and Night - 7107 E Riverside Drive, Austin, TX 78741

🗓 Sunday

🧀 Mac and Cheese Fest

Did someone say cheese?! If you're like me and always willing to get your hands on a bowl of mac and cheese, then this event is for you. Check out the Mac and Cheese festival happening this weekend to decide which vendor has. the best mac and cheese for yourself, and enjoy the bar with creative cocktails while you're at it. Tickets start at $45.

11 a.m - 3 p.m | 📍Lantana Place - 7415 Southwest Parkway