Tesla: margin improves, blames flat volume on battery supply

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Tesla narrowly returned to positive free cash flow and improved its margin, but AI capex remains intense and pricing is suffering. By Will Girling

Tesla returned to positive free cash flow in the third quarter, US$1.5bn, following a rare instance of cash burn in Q2. However, the intense increase in operating expenditure that precipitated the previous result hasn’t abated: R&D for AI (now called ‘Super Intelligence’ in Tesla’s earnings deck) grew 69% to US$2.76bn, while selling and admin costs rose 29% to more than US$2bn

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https://www.automotiveworld.com/analysis/tesla-margin-improves-blames-flat-volume-on-battery-supply/

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