Well, it’s Tesla earnings report time once again, and in news that’s becoming less of a surprise, Tesla was profitable again for Q3 of 2020. This marks the fifth consecutive quarter of profitability for the EV maker, and with as well as production capacity expansions for its biggest-selling model (the Model 3, for those of you playing at home), that kind of makes sense.
Q3 was also significant for the Big T in other ways. During its recent, the company announced its plans to upend the industry-standard means of producing battery cells by going to its bigger, tabless 4380 cells. Musk also surprised the world by announcing the on Oct. 20, though what precisely that changes has been left ambiguous.
Tesla also dropped the price on the Model S to a cringe-inducing $69,420 to compete with the , despite that car not actually being available to purchase yet. Tesla’s forthcoming Cybertruck got its next big helping of competition from General Motors in the form of the . We expect some kind of Cybertruck-related announcement from Musk during the earnings call in response to this.
The Gigafactories in the US andare trucking along, while the is presently scheduled to come online in 2021. Tesla says that the facility, which lies just outside Berlin, will be getting equipment delivered soon, which is in line with the Tesla model of construction — fast, fast, fast. The upgrades in facility production capacity finally got Tesla to its goal of being able to produce .
Keep your eyes glued to Roadshow for further coverage from the earnings call itself.