Tesla(US:TSLA) Zheng Quan Ri Bao·2025-10-23 11:12Core Insights - Tesla reported record high revenue and free cash flow for Q3 2025, with total revenue reaching $28.1 billion, a 12% year-over-year increase, and free cash flow of $4 billion [2] - CEO Elon Musk emphasized Tesla's leadership in real-world artificial intelligence, citing the company's capabilities in AI, electromechanical engineering, and scalable production [2] Group 1: Electric Vehicle Deliveries - Tesla achieved record production and delivery numbers in Q3 2025, producing approximately 447,000 electric vehicles and delivering 497,000 [3] - The Shanghai Gigafactory remains a key export hub, with over 90,000 deliveries in September and a 25% month-over-month increase in sales in the Chinese market [3] - The Model Y became the best-selling SUV in China, with nearly 170,000 units sold in the third quarter, reflecting a 31% quarter-over-quarter growth [3] Group 2: Energy Storage and Charging Infrastructure - Tesla's energy storage business also saw growth, with 12.5 GWh of new installations in Q3, supported by the Shanghai Gigafactory [3] - The company expanded its charging network by adding over 3,500 Supercharger stations, achieving an 18% year-over-year growth [3] - The introduction of V4 Supercharger cabinets, which have three times the power density of V3, aims to enhance charging efficiency and reduce costs [3] Group 3: Autonomous Driving and Robotaxi Expansion - Tesla is accelerating its autonomous driving initiatives, launching the V14 smart driving system and expanding the Robotaxi service [5] - As of Q3 2025, 12% of Tesla users are paying for the smart driving feature, with over 9.6 billion kilometers driven using the system [5] - The Robotaxi service has expanded its operational range and is expected to launch in Nevada, Florida, and Arizona by year-end [6] Group 4: Robotics Development - Tesla plans to release its third-generation humanoid robot in Q1 2026, with production expected to start by the end of 2026, targeting an annual capacity of 1 million units [6] - The focus on humanoid robots includes developing a highly flexible and functional robotic hand, which poses significant supply chain challenges [6] - Analysts noted that Tesla is transitioning its autonomous driving from a "feature" to a "mobility network," indicating a shift in its business model [6]