Tesla profits plunge as discounts on EV models weigh on results

Tesla Inc. reported a 55% drop in second-quarter net income to $1.48 billion, as discounts on electric vehicles weighed on results and capital expenditures more than doubled to $2.27 billion, driven by the company's accelerated pivot to semiconductors, autonomous taxis, and humanoid robots.

Tesla profits plunge as discounts on EV models weigh on results Source: Financial Times Technology https://www.ft.com/technology Capital expenditures more than doubled as company accelerates pivot to semiconductors, autonomous taxis and humanoid robots Get AI news in your inbox Daily digest of what matters in AI.