 Tesla reported its results for Q2, which included a 42% YoY growth in total revenues to $16.9B. Total gross profit increased by 47% YoY to $4.2B. More: - Tesla's operating income improved to a 14.6% operating margin, up from 11% in Q2 2021, driven by an increase in the average selling price, growth in deliveries and other business sectors, and lower stock-based compensation expenses.
- The EV maker had a 25% YoY increase in production in Q2, reaching 258,580 units, while deliveries were up by 27% to 254,695.
- Tesla deployed 106 MW of solar solutions (+25% YoY) and 1.13 GWh of energy storage (-11%).
- The company increased the number of Supercharger stations and connectors by 34% YoY to 3,971 and 36,165, respectively.
- At the end of Q2, Tesla had over 100,000 customers on the Full-Self Driving Beta.
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 Turkish micro-mobility company Marti is reportedly finalizing its plans to merge with special purpose acquisition company Galata to be listed publicly on the New York stock exchange. Marti offers shared electric mopeds, e-bikes, and scooters in 20 cities. More: - The startup will reportedly expand its operating areas and fleet size from the current 55,000 units following the merger.
- Marti has 8 million app installs and provided more than 40 million rides.
- In 2021, the company was valued at $100M after raising $30M from the European Bank for Reconstruction and Development and Turkish private equity firm Actera.
Zoom Out: - Galata has $147M in cash and a market value of $180M, per Bloomberg.
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 A message from BOXABL Imagine if houses were built like cars, with one home coming off the assembly line every 60 seconds...wouldn’t that change the world? Cutting-edge housing manufacturer Boxabl plans to do just that, by setting up the world's largest and most advanced housing factory. Why Boxabl? - Setting up a 170,000 sq ft manufacturing facility in less than one year
- Raising over $100M from over 15,000 investors
- Elon Musk shouted out the Las Vegas-based company calling Boxabl a “cool product.”
- Achieving LEED certification and hurricane wind ratings on all houses
- Strategic partnership and investment from the largest home builder in the USA, D.R. Horton Inc.
- Over 50 patent filings due to considerable innovations in building technology
- Factory 2 is now under construction
- Customer waitlist of over 100,000 pre-orders, indicating potential demand worth billions of dollars
- Guided by Volkswagen Group's Porsche Consulting Inc. for the design and implementation of Boxabl’s new factory
- Shipping houses every day
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United Airlines reported $12.2B in operating revenue in Q2, growing 6.2% Yo3Y. Operating expenses increased 13.1% versus Q2 2019, to $11.B, including a 59.8% Yo3Y increase in fuel costs. More: - United had a total of 37,923 passengers during the quarter, comprising an 11% decrease versus Q2 2019.
- Available seat miles, which is the number of seats available for passengers multiplied by the number of scheduled miles those seats are flown, decreased by 14.5% Yo3Y to 62.6 million miles.
- Domestic passenger revenue grew by 9.3% versus Q2 2019 to $1.84B, while Europe demand increased 7.4%, LatAm by 22.6%, and the Middle East, India, and Africa by 55.9%. Flights from the Pacific region generated $428M, constituting a 62.3% Yo3Y decline.
- The airline had $22B in available liquidity at the end of Q2.
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Ford revealed details about its electrification strategy, including contracts to reach 60 GWh of annual battery capacity. The automaker announced a partnership with CATL, the largest battery maker in the world, to produce lithium-iron phosphate batteries for the Mustang Mach-E starting in 2023 and the F-150 Lightning pickup truck in early 2024. More: - Ford claims it has sourced 70% of the battery capacity to produce a 600,000 EV run rate by 2023.
- The company said it signed memorandums of understanding for the sourcing of materials through 2026, including a nickel processing project in Indonesia with Vale and Huayou Cobalt, and a separate agreement with BHP for nickel from Western Australia.
- The automaker announced its production localization strategy for North America, including facilities for cathode with SK On and EcoPro BM, lithium carbonate in Nevada with Ioneer, lithium hydroxide and lithium carbonate in Utah with Compass Minerals, and natural graphite processing with Syrah Resources in Louisiana.
- Ford stock was up 0.39% for the day and 10.36% for the week on Thursday morning.
Zoom Out: - In June, Ford announced a five-year agreement with Liontown Resources for lithium from Western Australia.
- Syrah Resources also has an agreement with Tesla for graphite processed at its Louisiana facility. Syrah expects to produce graphite-based active anode material for approximately 2.5 million electric vehicles by 2040.
- Ford reportedly laid off 8,000 employees working on ICE-based vehicles as it refocuses on EV production.
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 A message from COX EDGE Assets are getting larger, and end users have you stuck between the cloud and a hard place. While today’s websites and apps are still largely run out of one location, your users are everywhere. Cox Edge’s CDN steps in to help you deliver content more efficiently. Our extensive network of POPs delivers content to your end users based on location, co-locating site and app assets closer to where your users are. Learn how Cox Edge’s CDN can help you quickly scale up during heavy traffic, decrease costs, and deliver an enhanced experience to end users with faster load times, increased performance, and more stability. Explore More
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Dealership group Lithia Motors reported its results for the second quarter, including $3.2B in income from new vehicles, up from $3B in Q1. Total revenue reached $7.2B, increasing from $6.7B in the previous quarter. More: - The company had $1.35B in gross profit in Q2, reaching $2.62B in 2022.
- Lithia's new vehicle segment comprises 41% imports, 33% domestic, and 26% luxury models. Toyota vehicles account for 16% of its sales, followed by Honda at 14%, and Stellantis with 13%.
- Its Driveway platform claims 1.87 million unique visitors and 4,300 monthly transactions, per data from May.
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The Department of Energy announced $96M in funds to support decarbonization projects in the transportation sector. The amount adds to the $5B for projects under the National Vehicle Infrastructure Formula Program. More: - The DoE is seeking research, development, and deployment applications for non-road engines and clean technologies for aviation, marine, off-road (including construction and agriculture), and rail.
- The agency is also looking for the development of new materials for battery and powertrain performance.
- The White House has called for EVs to comprise at least 50% of all car sales by 2030.
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- Amazon began delivering packages using Rivian vans. The retailer ordered 100,000 EVs in 2019.
- Florida-based lidar manufacturer Luminar is planning a strategic investment in Ecarx, a startup by Eric Li, the founder of Geely Auto.
- Indonesia's Indika Energy is considering forming a $2B joint venture with Foxconn for electric vehicles, battery manufacturing, and energy storage products.
- Foxconn is partnering with NXP Semiconductors to build 10 EV products, including electric platforms.
- See how to make sense of the security industry's infamous "alphabet soup" of acronyms and complex technical tools.*
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 |  | Written and curated by Nicolas Saravia, an avid map maker and data nerd. Nicolas has worked in the shared-scooter space, as well as advised e-bike and moped start-ups. |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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