Tesla(US:TSLA) Bei Jing Shang Bao·2025-10-23 16:33Core Insights - Tesla's revenue rebounded in Q3 after a decline in both revenue and net profit in Q2, with Q3 revenue reaching $28.1 billion, a 12% year-over-year increase, and free cash flow hitting $4 billion, setting records for both metrics [1][3] Revenue Growth - The growth in revenue is attributed to contributions from the electric vehicle and energy storage segments, with Q3 production reaching 447,000 vehicles and deliveries at 497,000, marking a 7.4% year-over-year increase and a new delivery record [3] - In September, the Shanghai Gigafactory delivered over 90,000 vehicles, with sales in the Chinese market exceeding 71,000 units, reflecting a 25% month-over-month increase [3] Profitability and Costs - Despite revenue growth, Tesla's non-GAAP net profit for Q3 was $1.77 billion, a 29% year-over-year decline, with a gross margin of 18%, up from 17.2% in Q2 [4] - The decline in profit is attributed to increased operating expenses related to sales, general administrative costs, and investments in AI and R&D, as well as rising stock-based compensation [4] Strategic Focus - Tesla is shifting focus towards autonomous driving and robotics, with CEO Elon Musk highlighting a pivotal moment for the company's strategy as it integrates AI into real-world applications [4] - The company has launched the Robotaxi service in Austin, Texas, and plans to expand operations to Nevada, Florida, and Arizona by the end of the year, with Robotaxi accumulating over 250,000 miles in Austin and over 1 million miles in the Bay Area [5] Future Developments - Tesla is accelerating its robotics business, with plans to install a humanoid robot production line expected to start by the end of next year, aiming for an annual production capacity of 1 million units [5][6] - The third-generation humanoid robot is set to be unveiled in Q1 of next year, with claims of achieving five times the work efficiency of humans [6]