Tesla CEO Musk: I admire Chinese tram manufacturers very much – yqqlm

In the morning news on July 21, Beijing time, Tesla Motors today announced the company’s second quarter financial report for the 2022 fiscal year.

The report shows that Tesla Motors’ second-quarter revenue was $16.934 billion,A 42% increase from $11.958 billion in the same period last year; Net profit was US$2.269 billion, compared with US$1.178 billion in the same period last year; net profit attributable to common stockholders was US$2.259 billion, compared with US$1.142 billion in net profit attributable to common stockholders in the same period last year. Diluted earnings per share attributable to common stockholders was $1.95, an increase of 91% compared to earnings per diluted share attributable to common stockholders of $1.02 in the same period last year.

After the financial report was released, Tesla CEO Elon Musk, CFO Zach Kirkhorn, CTO Drew Baglino and other executives interpreted the financial report and answered questions from analysts.

The following is the main content of the analyst Q&A session of the conference call:

Institutional investors: Chinese trolley makers seem to be doing better than their Western rivals (except Tesla) when it comes to software innovation and product design. In this environment, how can Tesla ensure its advantages in China and even the global market?

Elon Musk:Currently,Tesla is undoubtedly the best electric car maker in China, which is inseparable from our excellent Chinese team. I personally admire Chinese manufacturers from all walks of life, especially tram manufacturers. They dare to compete globally, but are also very smart and hard-working. Other competitors are bound to be adversely affected if they fail to work as hard as Chinese manufacturers. all in all,We admire Chinese manufacturers very much and respect their abilities even more.

Institutional investors: When does Tesla plan to introduce a unified Vector Space (Vector Space represents a top view in the vehicle coordinate system)? Will it be a V11 system or a future later version? If it is the latter, could management please briefly describe the obstacles and difficulties involved?

Elon Musk:I try to answer this question in a way that everyone can understand. Before answering this question, we must first understand what a unified Vector Space is. If we can connect static elements of driving (like lane lines, road boundaries, etc.) with dynamic elements (like other vehicles, etc.) at the neural network level, then we no longer need to coordinate these elements through C++. This is the best result. This is not necessary to achieve fully autonomous driving, but in this way, the efficiency of autonomous driving will be improved. This is also what we hope to achieve. Imagine, once implemented, the driver will be able to see a panoramic video around the vehicle, and static and dynamic objects during driving will be automatically marked. We will be able to gradually realize this vision by the end of this year. Maybe I’m speaking more professionally, but I’m not sure how much people can understand.

In addition, we are also very confident in the frame rate of the video.Tesla is able to capture images at 36 frames per second. You know, the frame rate of the movie is only 24 frames per second.