if sol maxis are the new eth maxis…what makes the eth maxis now?are we a joke to you? ...

Let's just talk about what then. I've said to us yesterday that he believes Elon Musk is crossing a line and that the board needs to step in. Do you share that view.Well, I have to tell you, we've been dealing with controversy around Elon Musk in one form or another since we first bought the stock when the company was founded in 2014. And we own Tesla and it's one of the top holdings in three of our ETFs. So R, K, k, W, and Q.So we are watching this like a hawk, no question about it. But with the experience ...

I think we just start with the basics, James, if we can. Why did you write that open letter to test this board. And why do you think they need to understand the formation of the America Party in the context of whether or not is a benefit to the company and Tesla's future goals.Well, good morning, Ed. The truth is that when you have a full time CEO in Elon Musk, who has been an extraordinary CEO, his time and energy needs to go to Tesla and synergistic companies like X, AI or Space X, a political party, rega ...

21世纪经济报道记者 郑植文 上海报道 特斯拉2025年第二季度的市场表现呈现鲜明反差：全球销量遭遇重创，中国市场却逆势成为增长支柱。 在全球市场，这家电动车巨头遭遇了自2015年以来最严峻的销量滑坡——季度交付量为38.41万辆，同 比暴跌13.5%，连续两个季度出现两位数下滑；而在太平洋西岸的上海，超级工厂生产线昼夜不息，以 191,720辆的交付量创下历史新高，占特斯拉全球产量的47%。2025年第二季度，特斯拉在全球生产了 超过41万辆电动车。 销量格局的"东西分化"更为显著。欧洲汽车制造商协会（ACEA）数据显示，今年5月，特斯拉在欧盟 的新车注册量仅有8729辆，同比锐减40.5%，已连续5个月销量下滑，在欧洲的市场份额已跌至1.2%； 反观中国市场，乘联会最新数据显示，特斯拉上海超级工厂第二季度交付19.1万辆，环比增长10.98%。 资本市场的反应则颇为反常：尽管销量下滑，数据公布当日特斯拉股价却逆势上涨5%，市值一夜大涨 3450亿元。这种反常逻辑背后，是投资者对其Robotaxi和全自动驾驶技术的押注。 6月底，特斯拉宣布完成全球首例"全程无人遥控的公共道路自动驾驶交付"，Model Y在 ...

Core Viewpoint - Tesla's Q2 delivery data shows a significant decline in sales, with a total of 384,122 vehicles delivered, representing a 13.5% year-over-year decrease, marking the second consecutive quarter of decline [3][4][16] Group 1: Sales Performance - Tesla's Q2 delivery volume of 384,122 vehicles is lower than the previous year, with Model 3/Y combined deliveries at 373,728 units [3][4] - The first quarter of 2025 saw a delivery volume of approximately 336,700 vehicles, with a 32% quarter-over-quarter and 13% year-over-year decline, the lowest since Q4 2022 [3][4] - Despite the poor sales data, Tesla's stock price surged by 4.97%, adding $48.1 billion to its market capitalization, attributed to slightly exceeding analyst expectations [4][16] Group 2: Market Sentiment and Analyst Expectations - Analysts had predicted a more severe decline, with expectations set at 365,000 vehicles, making the actual delivery a "low expectation + small exceedance" scenario [4][9] - Cathie Wood, a prominent Tesla bull, increased her stake by purchasing 56,368 shares valued at approximately $17.91 million [4][9] - The disparity in analyst price targets for Tesla ranges from $115 to $500 per share, indicating a wide range of opinions on the company's future valuation [8][9] Group 3: Strategic Focus on AI and Future Prospects - Elon Musk emphasizes that Tesla is an AI company rather than a traditional automaker, aiming to shift focus from manufacturing to software capabilities like autonomous driving and robotics [5][8] - The future of Tesla is heavily tied to the success of its Full Self-Driving (FSD) technology and the anticipated Robotaxi service, which Musk believes could generate significant revenue [10][11] - The Robotaxi project is projected to potentially generate $203 billion in annual revenue by 2030, with a significant portion being profit [10][11] Group 4: Challenges and Adjustments - Tesla's energy storage business has also seen a decline, with Q2 installations at 9.6 GWh, down from a peak of 11 GWh in Q4 2022 [18][20] - The company is facing political and economic challenges in the U.S., including tariff pressures and uncertainty regarding policy support for electric vehicles [18][21] - Tesla's reliance on the Chinese market is increasing, with a notable drop in market share from 15.8% in Q1 2021 to 5.6% in Q1 2025 [16][17] Group 5: Organizational Changes and Market Strategy - Tesla is undergoing significant organizational changes, including layoffs and restructuring to adapt to market demands, particularly focusing on lower-tier markets [17][18] - The introduction of Model 3 and Model Y in the rural market indicates a strategy to penetrate deeper into the Chinese market before launching new models [17][18] - The company is also adjusting its approach to the Optimus robot project, pausing component procurement, which may affect its sales targets [20][21]

Cryptocurrency & Taxation - Billionaire Bill Miller IV believes taxing Bitcoin "doesn't make a ton of sense" [1]

2025 年 7 月 6 日 行业研究 2Q25 特斯拉交付环比修复，小米 YU7 订单火爆引发新势力购车权益加码 ——特斯拉与新势力 6 月销量跟踪报告 要点 2Q25 特斯拉全球交付量环比修复：2Q25 特斯拉全球交付量同比 -13.5%/环比 +14.1%至 38.4 万辆（Model 3+Y 同比-11.5%/环比+15.4%至 37.4 万辆）。 6 月理想交付同环比下滑，小鹏/蔚来环比企稳：1）理想交付量同比-24.1%/环 比-11.2%至 36,279 辆；2）小鹏交付量同比+224.4%/环比+3.2%至 34,611 辆； 3）蔚来交付量同比+17.5%/环比+7.3%至 24,925 辆（乐道 L60 交付环比+1.9% 至 6,400 辆、萤火虫交付环比+6.8%至 3,932 辆）。 小米 YU7 订单火爆引发国内新势力权益加码，小鹏 G7 上市差异化策略清晰： 特斯拉：国产 Model 3 后驱版和长续航版交付周期维持 1-3 周、高性能版交付 周期延长至 8-10 周（vs. 6 月为 1-3 周），焕新版 Model Y 交付周期缩短至 1-3 周（vs. 6 月为 2-5 周 ...

编 译 / 路 行 编 辑 / 黄大路 设 计 / 赵昊然 来 源 / I n si d e E V s 、美联社、 路 透 社 、e l e c t r e k等 作 者 / S u v r a t K o t h a r i 、 B e r n a r d C o n d o n、F r e d L a m b e r t 、A n d r e a S h a l a l 等 2025年中期，特斯拉深陷内外交困之中，一边是CEO埃隆·马斯克（Elon Musk）与美国总统特朗普 （Donald Trump）就"大而美"法案（Big Beautiful Bill）引发的激烈争端，另一边则是销量持续下 滑、品牌声誉受损、财政收入受挫，以及Robotaxi业务引发的质疑。 马斯克去年为特朗普的连任投入了近3亿美元资金，随后又短暂担任"政府效率部"（DOGE）的负 责人，推动大规模裁员并削减多个政府机构。这些政策在一些地区已带来严重后果，并引发全国范 围的"特斯拉下架"（Tesla Takedown）抗议潮。 而他与特朗普围绕"大而美"法案的公开争执，则进一步加剧了关于特斯拉的争议。这项法案加剧了 美国财政赤字， ...

Group 1: Tesla's Performance and Outlook - Goldman Sachs raised Tesla's 12-month target price from $285 to $315 based on better-than-expected delivery data for Q2 2025, while maintaining a "neutral" rating due to challenging short-term fundamentals in the automotive business [1] - Tesla's global vehicle deliveries reached 384,000 units in Q2 2025, a 14% increase quarter-over-quarter but a 13% decrease year-over-year, falling short of market consensus of 394,000 units [2] - The production volume for the quarter was approximately 410,000 units, reflecting a 13% quarter-over-quarter increase, while year-over-year figures remained stable [2] Group 2: Challenges and Future Projections - Goldman Sachs noted that the outlook for Tesla's vehicle deliveries is contentious, influenced by the timing of new model releases and their differentiation from existing models; the anticipated low-cost model has not yet been launched [3] - The firm adjusted its 2025 delivery forecast for Tesla from 1.575 million to 1.594 million units, representing an 11% year-over-year decline, while estimates for 2026 and 2027 remain unchanged at 1.865 million and 2.15 million units, respectively [3] - The expected non-GAAP gross margin for Q2 2025 is now projected at 12.7%, up from a previous estimate of 12.5%, primarily due to increased sales volume [3] Group 3: Robotaxi and FSD Developments - Despite positive early user feedback, there are reports of underperformance leading to scrutiny from the NHTSA; short-term growth in the Robotaxi business is expected to be slow, but long-term opportunities in the autonomous driving market remain significant [4] - Tesla's energy storage deployment is projected to reach 9.6 GWh in 2025, up from 9.4 GWh in 2024, with Q1 2025 expected to be 10.4 GWh; however, profit margins may be pressured by tariffs on lithium iron phosphate batteries sourced from China [4] Group 4: Optimus Robot Production Expectations - Tesla plans to manufacture thousands of Optimus robots by the end of the year, with a cumulative production target of 10,000 units by 2025; however, recent reports indicate a pause in production following the departure of the Optimus business head [5] Group 5: Rivian's Performance - Rivian delivered 10,661 vehicles in Q2 2025, a 23% increase quarter-over-quarter but a 23% decrease year-over-year, aligning closely with market consensus [7] - Production for the quarter was 5,979 vehicles, reflecting a 59% quarter-over-quarter decline and a 38% year-over-year decline, attributed to preparations for the upcoming 2026 model [7] - Goldman Sachs slightly adjusted Rivian's 2025 delivery forecast from 43,000 to 42,500 units, while maintaining estimates for 2026 and 2027 at 55,000 and 92,000 units, respectively [7]

Business Development & Market Expansion - Joby delivered its first aircraft to the UAE and successfully tested its air taxi in Dubai, marking a key step towards commercialization [1] - The UAE is seen as a forward-leaning market embracing new technologies, particularly air taxis, to address population growth and traffic challenges [4] - Potential to connect Abu Dhabi to Dubai in 20 minutes, significantly reducing travel time [5] - Joby is partnering with the RTA in Dubai, GCA, DANS, and the DCA in the UAE for in-market testing [3] Regulatory & Certification Progress - A five-way agreement between Australia, New Zealand, the US, Canada, and the UK aims to accelerate the deployment of next-generation aircraft [6] - An executive order supports a similar model to the UAE, potentially accelerating early adoption in the US [7] - The FAA is making record progress on stage four of Joby's certification basis [8] Cost & Operational Efficiency - Electric air taxis have dramatically more compelling operating economics compared to helicopters, with lower maintenance and energy costs [10] - Recharging batteries is significantly less expensive than refueling traditional combustion aircraft [11]