Tesla Invests Heavily in Sustainable Products

• Tesla zeroes in on sustainability and EV production.

• Recording a profit increase in Q2 2024, and plans to leverage AI in transportation.

Tesla Inc., a top American multinational automotive and clean energy company based in Austin, Texas, has displayed strong sustainable business performance recently.

Last year, Tesla's revenue surged to an all-time high from sustainable products and services. The company sold more than 1.8 million electric vehicles (EVs), with a 2.3 per cent hike in revenue in the second quarter (Q2) of 2024, showing their increasing presence in the EV market.

From April to June, the automotive giant has manufactured over 4,10,000 and delivered 4,44,000 vehicles, contributing to 84 per cent of its total revenue. The company has set goals to produce 3 million vehicles by 2025.

Tesla has also shifted its focus to Artificial Intelligence (AI). Its Full Self-Driving (FSD) version 12 product has recorded 300 billion miles of driverless driving.

The company is venturing into the robotaxi business, and other companies will be able to use its charging stations. A major event scheduled for this month will reveal more about Tesla's robotaxi business.

Their Q2 2024 data show that they logged more profits than expected despite some operational difficulties.

Investors and analysts are closely monitoring Tesla's sustainability expansion to see how it will revolutionise the transportation and clean energy sectors.

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Source: Asktraders