TSLA - Earnings call Q2 2026

Good afternoon, everyone, and welcome to Tesla's Second Quarter 2026 Q&A Webcast. My name is Travis Axelrod, Head of Investor Relations, and I'm joined today by Elon Musk, Vaibhav Taneja and a number of other executives.

Our Q2 results were announced at about 3:00 p.m. Central Time in the update deck we published at the same link as this webcast.

During this call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC.

During the question-and-answer portion of today's call, please limit yourself to one question and one follow-up. [Operator Instructions]

Before we jump into Q&A, Elon has some opening remarks. Elon?

Thank you.

So, yes, it's been a great quarter. We achieved record Q2 deliveries. Model Y, I believe it is now, I think it's the best-selling car of any kind in the world and is setting records across the board.

So its popularity is increasing tremendously. And we're seeing in locations that have FSD approved, we're seeing a very high take rate of FSD. And in fact, I think, for a lot of people, they're actually buying Tesla full self-driving with a car attached as opposed to a car with FSD. They're coming into our stores in the U.S. and they want the full self-driving and with whatever car comes with essentially.

So, clearly, the -- this is a significant demand driver. And as we get approval for FSD in different part -- different countries, I think we'll see a similar uptick in demand.

So, yes, it's looking very good on that front.

The energy business is also growing incredibly fast, and I think it will be crucial for the scale-up of artificial intelligence, data centers. We're investing a lot in growing the core business and really preparing for the future.

So this is a massive CapEx year, but I'm confident