According to recent joint data released by the Philippine Automobile Manufacturers Association (CAMPI) and the Truck Manufacturers Association (TMA), in June 2026, Tesla became the best-selling pure electric vehicle brand in the Philippines.

Industry-leading sales data reflects the genuine recognition of Filipino owners towards the product. Blogger @Muskonomy once shared the first-month driving experience of a Filipino Model 3 owner: Charging costs were only 1/6 of the previous gasoline car, stating outright "I never want to switch back to a gasoline car again".

In many countries and regions of the Southeast Asian market, Tesla has seen sales growth. Tesla shared on its official overseas platforms that Tesla achieved a new monthly sales high in the Singapore market in June, with Model Y surpassing gasoline vehicles to become the best-selling SUV model across all categories locally.

Car owner @Coco Silly Fish from Singapore traded their family's gasoline car for a Tesla. He stated that after driving a Tesla, the fatigue from driving in rush hour traffic during morning and evening peaks was less, and there was no anxiety about fuel consumption like when driving a gasoline car. "It is more cost-effective than public transport!"

根據菲律賓汽車製造商協會 (CAMPI) 同卡車製造商協會 (TMA) 近日聯合發布嘅數據顯示，2026 年 6 月，特斯拉成咗菲律賓最暢銷嘅純電動汽車品牌。

領先業界嘅銷量數據，反映出菲律賓車主對產品嘅真實認可。博主@Muskonomy 曾經分享過一位菲律賓 Model 3 車主嘅首個月用車體驗：補能開支只有以前燃油車嘅 1/6，直言“再都唔想換返去開燃油車”。

喺東南亞市場嘅多個國家地區，特斯拉均迎來銷量增長。特斯拉喺海外官方平台分享，特斯拉 6 月喺新加坡市場創咗單月銷量新高，Model Y 超越燃油車成為當地全品類最暢銷 SUV 車型。

嚟自新加坡嘅車主@Coco 傻 Fish 就將家中嘅燃油車換置為特斯拉，佢表示開咗特斯拉後，早晚繁忙時段塞車駕駛感覺冇咁累，亦都冇開燃油車時嘅油耗焦慮，“比公共交通更抵！”

Author | Janson

Editor | Zhi Hao

Half-year revenue of 342.7 billion yuan yet revenue grew without profit growth, Musk bets on Robotaxi to break the deadlock.

Carwest news on July 23, just now, Tesla released its Q2 2026 financial report, and simultaneously held an earnings call to address investors' concerns.

In the second quarter, Tesla's automotive business recovered significantly, delivering 480,100 vehicles, a 25% year-on-year increase, setting a new historical high for the same period.

▲ Overview of Tesla's financial information for the second quarter of the past three years

Tesla's Q2 revenue reached $28.236 billion (approximately 191.2 billion yuan), up 26% year-on-year; Automotive business revenue reached $20.516 billion (approximately 138.9 billion yuan), up 23% year-on-year.

But sales and revenue growth did not bring proportional profit improvement. In the second quarter, Tesla's operating profit was only $398 million (approximately 2.7 billion yuan), a 57% year-on-year decrease; the operating profit margin dropped from 4.1% in the same period last year to 1.4%. Automotive gross margin also dropped from 21.1% in the first quarter of this year to 16.9%.

Looking at the entire first half of the year, Tesla's cumulative revenue reached $50.623 billion (approximately 342.7 billion yuan), of which Automotive business revenue was $36.750 billion (approximately 248.8 billion yuan), still contributing over 70% of revenue.

▲ Overview of Tesla's financial information for the first half of the past three years

On the profit front, Tesla's first-half gross profit totaled $9.471 billion (approximately 64.1 billion yuan), with an overall gross margin of about 18.7%. Regarding deliveries, Tesla produced approximately 860,100 vehicles and delivered approximately 838,100 vehicles in the first half of the year.

Overall, the delivery rebound in Q2 pushed Tesla's first-half revenue to a new high for the same period in the past three years, but the operating profit margin still dropped to 2.65%, and the problem of revenue growing without profit did not get resolved.

Compared to profit performance, Tesla's progress in FSD (Supervised), Robotaxi, and Cybercab was more prominent.

As of the end of the second quarter, Tesla FSD paid user numbers reached 1.48 million, a 56% increase from 950,000 in the same period last year, and up 200,000 from the end of the first quarter this year. Tesla CEO Musk said that as FSD receives regulatory approval in various countries, market demand will further surge.

In addition, Tesla has started pushing FSD v14 lite to vehicles equipped with AI3 (HW3) hardware, distilling the driving behavior of the v14 series on AI4 vehicles to the previous generation hardware platform.

Regarding Robotaxi, Tesla's service scope has expanded to multiple cities in the US. Meanwhile, Cybercab has started production at the Texas Gigafactory and has entered the public road engineering testing phase.

While the profit pressure on Tesla's Model 3/Model Y vehicle sales business continues, FSD subscriptions and Robotaxi are gradually becoming new growth sources outside of Tesla's automotive business.

I. Revenue Grows But Profits Don't, Automotive Gross Margin Declines Quarter-on-Quarter

Vehicle delivery volume recovered, driving Tesla's Q2 revenue to recover growth.

In the second quarter of this year, Tesla's total revenue reached $28.236 billion (approximately 191.16 billion yuan), up 26% year-on-year; Automotive business revenue reached $20.516 billion (approximately 138.89 billion yuan), up 23% year-on-year.

Specifically, Automotive sales revenue was $20.006 billion (approximately 135.4 billion yuan), Car rental revenue was $364 million (approximately 2.5 billion yuan), and Automotive regulatory credit revenue was $146 million (approximately 1 billion yuan).

▲ Detailed quarterly financial information of Tesla

Tesla stated that Q2 revenue growth was mainly driven by increased vehicle deliveries, FSD subscription growth, expansion of services and other businesses, growth in energy business, and a positive exchange rate impact of about $500 million (approximately 3.4 billion yuan).

However, the decline in average selling price of vehicles offset some of the growth.

In the second quarter, Tesla's gross profit was $4.751 billion (approximately 32.2 billion yuan), up 23% year-on-year; the overall gross margin was 16.8%, down 0.4 percentage points from 17.2% in the same period last year, and down 4.3 percentage points from 21.1% in the first quarter this year.

But the decline in average selling price of vehicles, reduction in regulatory credit revenue, and increased investment in AI projects dragged down overall profit performance.

In the second quarter of this year, Tesla's operating profit was $398 million (approximately 2.7 billion yuan), a 57% year-on-year decrease; the operating profit margin dropped from 4.1% in the same period last year to 1.4%, a year-on-year decline of 2.69 percentage points.

However, Tesla's GAAP net profit was also supported by an investment income. In the second quarter, Tesla recognized $1.005 billion (approximately 6.8 billion yuan) in unrealized gains from its SpaceX equity investment, which was included in other income.

Regarding R&D expenses, Tesla's R&D expenses in the second quarter reached $2.371 billion (approximately 16.1 billion yuan), an increase of about 49% year-on-year.

In terms of automotive manufacturing, Tesla stated that battery pack capacity remains the main factor limiting global automotive production growth.

Tesla is increasing 4680 cell production to support Cybercab, Tesla Semi capacity ramp-up, and Model Y production expansion.

▲ Tesla's battery capacity plans for each factory

Currently, Tesla's Texas 4680 cells have installed annual capacity exceeding 40GWh, the Nevada LFP (Lithium Iron Phosphate) battery project is in the early capacity ramp-up phase, with expected annual capacity of 7GWh, while the Berlin 4680 cell project is still under construction.

In addition, the Tesla Semi new factory is in the equipment debugging phase, planning to start production in 2026.

II. Q2 Deliveries Hit Record High, Cybercab Production Starts, FSD Users Reach 1.48 Million

In the second quarter of this year, Tesla produced 451,800 vehicles, up 10% year-on-year; delivered 480,100 vehicles, up 25% year-on-year, setting a new historical high for the same period.

In the first half of 2026, Tesla cumulatively produced approximately 860,100 vehicles and delivered approximately 838,100 vehicles.

▲ Tesla's quarterly delivery situation

Among them, Model 3/Y remain the core sales driver, producing 442,900 vehicles and delivering 467,800 vehicles in the second quarter, up 12% and 25% respectively year-on-year, contributing approximately 97.4% of the delivery volume.

Other models including Cybertruck produced 8,822 units, down 34% year-on-year; delivered 12,400 units, up 19% year-on-year.

With deliveries exceeding production, Tesla's inventory pressure significantly eased, global vehicle inventory turnover days dropped from 27 days in the first quarter to 15 days, lower than 24 days in the same period last year.

Tesla set delivery records in multiple markets including South Korea, Australia, Japan, Taiwan, Thailand, etc.

Regarding capacity, Shanghai Factory Model 3/Y annual capacity exceeds 950,000 vehicles, still Tesla's largest vehicle production factory; California, Berlin, and Texas factory related model annual capacities exceed 550,000, 375,000, and 250,000 respectively.

Additionally, Cybercab designed specifically for Robotaxi has started production at the Texas Gigafactory, with installed annual capacity exceeding 125,000 vehicles.

▲ Tesla's installed annual capacity and production status for each factory

The mass-produced Cybercab began public road engineering testing in the second quarter, and in July provided ride services for employees at the Texas factory park.

Robotaxi is also accelerating expansion, currently entering 7 major metro areas in the US. Austin continues to expand areas with unsupervised operations, Dallas and Houston are promoting relevant operations, Miami, Orlando, and Tampa launched unsupervised services in July; San Francisco Bay Area still equips safety drivers. Phoenix and Las Vegas are in the pre-launch preparation phase.

▲ Mass-produced Cybercab in testing

FSD has become another growth point. As of the end of the second quarter, Tesla FSD paid users reached 1.48 million, up 56% year-on-year, up 200,000 from the first quarter; increased by approximately 380,000 in the first half of 2026 alone.

In the second quarter, Tesla FSD net new subscription users set a record, over 55% of new vehicles delivered in North America included FSD subscription, and the order rate also reached a historical high. FSD subscription growth has formed a positive contribution to automotive related revenue and operating profit.

Regarding software, Tesla began pushing FSD v14 lite to vehicles equipped with AI3 (previously referred to by Tesla as HW3) hardware in the US, and pushed it to South Korea in July.

This version distills driving behavior of the v14 series on the AI4 platform to the AI3 platform, adds destination options such as parking lots, roadside, lane entrances, and curbs, and improves performance in scenarios such as navigation, merging/diverging, pedestrian interaction, traffic lights, and vehicle cutting in.

FSD's overseas approvals also made new progress, after the Netherlands, Tesla obtained FSD deployment approval in Lithuania, Estonia, Denmark, and Belgium.

As of July, users in the above opened markets cumulatively used FSD to drive over 50 million kilometers. Tesla stated that FSD implementation is driving local consumers' interest in its vehicles.

III. Cybercab Has No Legal Barriers, Old Owners Need Hardware Upgrade Assessment

During the earnings call, Musk and Tesla management focused on responding to Robotaxi operations, Cybercab regulations, Starlink access, Semi autonomous driving capabilities, and AI3 model hardware upgrades. Carwest organized the following 8 key Q&As:

1. How is the current operation of Robotaxi? How to scale up next?

Tesla AI Head Ashok Elluswamy: Currently, Tesla Robotaxi has cumulatively completed over 380,000 miles (approximately 610,000 km) of unsupervised driving in two US states and six cities, with no safety accidents worth noting. Existing accident reports were all collisions or impacts by other road users when the vehicle was stationary.

Tesla started the Robotaxi project in Austin about a year ago, at that time the passenger seat was still equipped with a safety monitor; at the end of 2025, the first batch of fully unsupervised Robotaxi started operations. Since 2026, the weekly unsupervised driving mileage of the fleet has maintained double-digit quarter-over-quarter growth, expected to continue this pace within the year.

Currently, the Robotaxi fleet has been running early versions of FSD V15. V15 planned about seven major improvement routes, with about 40% of improvement content merged into the version used by the fleet. With subsequent capabilities going live, Tesla hopes the engineering investment and preparation time required to enter new cities will gradually approach zero, finally shifting from city-by-city expansion to state-wide operations.

2. How does Tesla want the US to regulate Robotaxi?

Tesla Automotive Engineering Head Lars Moravy: The US Federal level has made不少 progress, especially Federal Motor Vehicle Safety Standards (FMVSS) are gradually accepting vehicles designed specifically for autonomous driving.

Tesla believes reasonable regulation should be for regulatory agencies to propose safety goals and problems to be solved, then allow enterprises to choose technical solutions, rather than specifying beforehand that a certain technical route such as LiDAR or millimeter wave radar must be adopted.

Tesla ultimately still needs to win regulatory agency and public recognition with actual vehicle safety performance, which will also become the basis for Robotaxi to continue expanding.

3. What factors limit Robotaxi expansion? Will it integrate with third-party ride-hailing platforms?

Musk: Tesla expects Robotaxi will not face insufficient demand problems, its operational economics will be very attractive, and market demand may exceed Tesla's service capability for a long time. Therefore, Robotaxi business will continue to adopt a highly vertically integrated model, at this stage there is no need to rely on third-party ride-hailing platforms for customer flow.

What truly limits Robotaxi expansion is system reliability, which is increasing the "9" in reliability indicators. Musk stated that ideally, Robotaxi needs to achieve reliability close to 99.999999%. Continuously improving reliability is the main constraint for current fleet scaling.

4. Could Tesla and SpaceX merge?

Musk: Tesla and SpaceX have increasing business overlap and cooperation in many fields, but company merger is not suitable for discussion on earnings call, if future matters involve similar items, formal decision and approval process must be undergone.

Tesla General Counsel Brandon Ehrhart: In early 2026, Tesla deepened its relationship with SpaceX through equity investment and framework agreement, both parties are cooperating on projects such as Digital Optimus.

5. Why not expand the Austin fleet first?

Ashok Elluswamy: Tesla did not concentrate all vehicles in Austin, mainly to verify the generalization capability of the FSD tech stack, proving the system can adapt to multiple cities with different road environments without massive additional development.

Robotaxi is still in the early stage of exponential growth, the absolute number of vehicles seen by outsiders is not large, but the fleet operates basically continuously, single vehicle driving time is far higher than private cars. Therefore, Tesla focuses more on unsupervised driving mileage, rather than simply focusing on vehicle quantity.

Musk: Cybercab is a brand new model, not having millions of vehicles providing road data like Model 3 and Model Y. Tesla needs to use temporarily added steering wheel, acceleration and braking pedals Cybercab to accumulate mileage, complete calibration for chassis and vehicle dynamics. After relevant data meets requirements, Cybercab quantity in each city will increase significantly.

Additionally, ride-hailing and traffic regulatory requirements vary by city and state in the US. City-by-city expansion also helps Tesla solve software, operations, and local regulatory issues one by one, then expand single market fleet size.

6. What federal regulatory barriers remain for removing steering wheels and pedals from Cybercab?

Lars Moravy: Besides regulatory agencies promoting relevant rule adjustments, Cybercab currently has no other major federal regulatory barriers.

In the past few years, Tesla has explained Cybercab's product planning and technical progress to the National Highway Traffic Safety Administration and other departments. Although both sides cannot be completely consistent on all issues, communication is smooth, regulatory agencies are pushing to cancel traditional requirements such as vehicles must be equipped with steering wheels and pedals according to autonomous driving technology development.

7. Can Cybercab become a Starlink mobile hotspot? When will Tesla Semi add autonomous driving capabilities?

Musk: Starlink terminal mounted on Cybercab may become ground network relay in the future, providing Wi-Fi service for nearby mobile phones or other devices, but relevant solution has not been officially announced.

Regarding Semi, autonomous driving capabilities can alleviate US truck driver shortage, and improve safety and comfort of long-haul transport. However, Semi currently occupies a low proportion in Tesla fleet, Tesla will prioritize investment of R&D resources in larger models such as Model 3, Model Y, and Cybercab.

It is expected that Semi's autonomous driving capabilities will make substantive progress at the end of 2026 or early 2027, and will be put into use in 2027, catching up with the timing of Semi entering large-scale mass production.

8. Will old cars equipped with AI3 hardware be upgraded to new hardware?

Musk: In the long term, upgrading hardware for vehicles equipped with AI3 or earlier computing platforms, and already adopting camera-based solution, may be economically feasible. But if vehicles need massive structural modifications, upgrading may not be economically viable.

Tesla may not simply upgrade AI3 vehicles to existing AI4, but wait for the next generation computing platform. The company is developing improved AI4, performance has a moderate increase compared to existing AI4, expected to launch production around mid-2027.

AI5 is also expected to enter mass production around mid-2027, and will be applied to Optimus first. Musk also revealed that AI6 chip has entered the design phase, with the goal of becoming a globally leading edge computing chip.

Conclusion: Tesla Aggressively Pursues Growth

Overall, Tesla's first-half automotive sales walked out of the valley, but low pricing and increased R&D investment continue to squeeze profits, delivery growth has not yet translated into stronger profitability.

At the same time, FSD paid users growing rapidly, Cybercab put into production, Robotaxi accelerating city expansion, showing Tesla is shifting growth focus from simply selling cars to software subscriptions and mobility services.

Next, determining the success or failure of this transformation is not only whether FSD capabilities can continue to improve, but more importantly whether Robotaxi can cross the reliability and regulatory thresholds to achieve true large-scale commercial operations.

作者 ｜ Janson

編輯 ｜ 志豪

半年收入 3427 億元卻增收不增利，馬斯克押注 Robotaxi 破局。

車東西 7 月 23 日消息，就在剛剛，特斯拉發布了 2026 年第二季財報，並同步召開業績會回覆了投資者關切的問題。

第二季，特斯拉汽車業務明顯回暖，共交付 48.01 萬輛汽車，同比增長 25%，創下歷史同期新高。

▲特斯拉近三年第二季財務信息一覽

特斯拉第二季收入達到 282.36 億美元（約合人民幣 1912 億元），同比增長 26%；汽車業務收入達到 205.16 億美元（約合人民幣 1389 億元），同比增長 23%。

但銷量和收入增長並未帶來利潤同步改善。第二季，特斯拉營業利潤僅為 3.98 億美元（約合人民幣 27 億元），同比大降 57%；營業利潤率從去年同期的 4.1% 降至 1.4%。汽車業務毛利率也由今年第一季度的 21.1% 降至 16.9%。

將時間拉長至整個上半年，特斯拉累計收入達到 506.23 億美元（約合人民幣 3427 億元），其中汽車業務收入為 367.50 億美元（約合人民幣 2488 億元），仍貢獻了超過七成收入。

▲特斯拉近三年上半年財務信息一覽

盈利方面，特斯拉上半年毛利潤合計 94.71 億美元（約合人民幣 641 億元），綜合毛利率約為 18.7%。交付方面，特斯拉上半年累計生產約 86.01 萬輛、交付約 83.81 萬輛汽車。

整體來看，第二季交付反彈推動特斯拉上半年收入創下近三年同期新高，但營業利潤率仍降至 2.65%，增收不增利的問題並未解決。

相比利潤表現，特斯拉在 FSD（監督式）、Robotaxi 和 Cybercab 方面的進展更加突出。

截至第二季末，特斯拉 FSD 付費用戶數量已經達到 148 萬，較去年同期的 95 萬增長 56%，較今年一季度末增加 20 萬。特斯拉 CEO 馬斯克稱，隨著 FSD 陸續獲得各國監管批准，市場需求將進一步攀升。

此外，特斯拉已經開始向搭載 AI3（HW3）硬件的車輛推送 FSD v14 lite，將 AI4 車輛上 v14 系列的駕駛行為蒸餾到上一代硬件平台。

Robotaxi 方面，特斯拉的服務範圍已經擴展至美國多個城市。同時，Cybercab 也已經在德州超級工廠開始生產，並進入公開道路工程測試階段。

在特斯拉 Model 3/Model Y 賣車業務利潤承壓的同時，FSD 訂閱和 Robotaxi 正在逐漸成為特斯拉汽車業務之外的新增長來源。

一、增收不增利 汽車毛利率環比下降

汽車交付量回升，帶動特斯拉第二季收入恢復增長。

今年第二季，特斯拉總收入達到 282.36 億美元（約合人民幣 1911.6 億元），同比增長 26%；汽車業務收入達到 205.16 億美元（約合人民幣 1388.9 億元），同比增長 23%。

具體來看，汽車銷售收入為 200.06 億美元（約合人民幣 1354 億元），汽車租賃收入為 3.64 億美元（約合人民幣 25 億元），汽車監管積分收入為 1.46 億美元（約合人民幣 10 億元）。

▲特斯拉詳細季度財務信息

特斯拉稱，第二季收入增長主要受到汽車交付量增加、FSD 訂閱增長、服務及其他業務擴大、能源業務增長，以及約 5 億美元（約合人民幣 34 億元）匯率正向影響的推動。

不過，車輛平均售價下降，又抵消了部分增長。

第二季，特斯拉毛利潤為 47.51 億美元（約合人民幣 322 億元），同比增長 23%；綜合毛利率為 16.8%，較去年同期的 17.2% 下降 0.4 個百分點，較今年第一季度的 21.1% 下降 4.3 個百分點。

但車輛平均售價下降、監管積分收入減少，以及 AI 等項目投入增長，拖累了整體盈利表現。

今年第二季，特斯拉營業利潤為 3.98 億美元（約合人民幣 27 億元），同比大降 57%；營業利潤率從去年同期的 4.1% 降至 1.4%，同比下降 2.69 個百分點。

不過，特斯拉的 GAAP 淨利潤還受到一筆投資收益支撐。第二季，特斯拉確認了 10.05 億美元（約合人民幣 68 億元）的 SpaceX 股權投資未實現收益，這筆收益被計入其他收入。

研發費用方面，特斯拉二季研發費用達到 23.71 億美元（約合人民幣 161 億元），同比增長約 49%。

在汽车製造方面，特斯拉表示，電池包產能仍是限制全球汽車產量提升的主要因素。

特斯拉正在提高 4680 電芯產量，以支持 Cybercab、Tesla Semi 產能爬坡及 Model Y 擴產。

▲特斯拉各工廠電池產能計劃

目前，特斯拉德州 4680 電芯已安裝年產能超過 40GWh，內華達 LFP（磷酸鋰鐵）電池項目處於早期產能爬坡階段，預計年產能為 7GWh，而柏林 4680 電芯項目仍在建設。

此外，Tesla Semi 新工廠處於設備調試階段，計劃在 2026 年啟動生產。

二、二季交付創同期新高 Cybercab 投產、FSD 用戶增至 148 萬

今年第二季，特斯拉共生產 45.18 萬輛汽車，同比增長 10%；交付 48.01 萬輛，同比增長 25%，創下公司歷史同期新高。

2026 年上半年，特斯拉累計生產約 86.01 萬輛、交付約 83.81 萬輛汽車。

▲特斯拉季度交付情況

其中，Model 3/Y 仍是銷量支柱，第二季生產 44.29 萬輛、交付 46.78 萬輛，同比分別增長 12% 和 25%，貢獻了約 97.4% 的交付量。

包括 Cybertruck 等在內的其他車型生產 8822 輛，同比下降 34%；交付 1.24 萬輛，同比增長 19%。

隨著交付量超過產量，特斯拉庫存壓力明顯緩解，全球車輛庫存周轉天數由一季的 27 天降至 15 天，低於去年同期的 24 天。

特斯拉在韓國、澳洲、日本、台灣、泰國等多個市場創下交付紀錄。

產能方面，上海工廠 Model 3/Y 年產能超過 95 萬輛，仍是特斯拉產能最大的整車工廠；加州、柏林和德州工廠相關車型年產能分別超過 55 萬輛、37.5 萬輛和 25 萬輛。

此外，專為 Robotaxi 打造的 Cybercab 已經在德州超級工廠投產，已安裝年產能超過 12.5 萬輛。

▲特斯拉各工廠已安裝年產能及生產狀態

量產版 Cybercab 第二季開始進行公共道路工程測試，7 月又在德州工廠園區為員工提供乘車服務。

Robotaxi 也在加速擴張，目前已進入美國 7 個主要都市圈。奧斯汀繼續擴大無安全員運營區域，達拉斯和休斯敦正在推進相關運營，邁阿密、奧蘭多和坦帕已於 7 月啟動無安全員服務；舊金山灣區仍配備安全駕駛員。鳳凰城和拉斯維加斯則處於上線準備階段。

▲量產版 Cybercab 在測試

FSD 則成為另一個增長點。截至第二季末，特斯拉 FSD 付費用戶達到 148 萬，同比增長 56%，較一季增加 20 萬；僅 2026 年上半年就增加約 38 萬。

第二季，特斯拉 FSD 淨新增訂閱用戶創下紀錄，北美超過 55% 的新交付車輛包含 FSD 訂閱，訂購率同樣達到歷史新高。FSD 訂閱增長已經對汽車相關收入和營業利潤形成正向貢獻。

軟件方面，特斯拉開始在美國向搭載 AI3（此前特斯拉稱為 HW3）硬件的車輛推送 FSD v14 lite，並於 7 月將其推向韓國。

該版本將 AI4 平台上 v14 系列的駕駛行為蒸餾至 AI3 平台，增加停車場、路邊、車道入口和路緣等目的地選項，並改善導航、匯入分流、行人互動、交通信號燈及車輛加塞等場景下的表現。

FSD 的海外審批也有了新進展，繼荷蘭之後，特斯拉又在立陶宛、愛沙尼亞、丹麥和比利時獲得 FSD 部署批准。

截至 7 月，上述已開放市場的患者累計使用 FSD 行駛超過 5000 萬公里。特斯拉稱，FSD 落地正在帶動當地消費者對其汽車的興趣。

三、Cybercab 法律層面沒障礙 老車主硬件升級需評估

財報電話會上，馬斯克及特斯拉管理層集中回應了 Robotaxi 運營、Cybercab 監管、Starlink 接入、Semi 無人駕駛能力以及 AI3 車型硬件升級等問題。車東西整理出以下 8 個關鍵問答：

1、Robotaxi 目前運營情況如何？接下來如何擴大規模？

特斯拉 AI 負責人 Ashok Elluswamy：目前，特斯拉 Robotaxi 已在美国兩個州、六座城市累計完成超過 38 萬英里（約 61 萬公里）的無安全員行駛，沒有發生值得關注的安全事故。現有事故報告均為車輛靜止時受到其他道路參與者碰撞或影響。

特斯拉約一年前在奧斯汀啟動 Robotaxi 項目，當時副駕座仍配備安全監督員；2025 年底，首批完全無安全員 Robotaxi 開始運營。2026 以來，車隊每週無安全員行駛里程保持兩位數環比增長，預計這一增速將在年內延續。

目前，Robotaxi 車隊已經運行早期版本的 FSD V15。V15 規劃了約七條主要改進路線，已有約 40% 的改進內容合併至車隊使用的版本。隨着後續能力上線，特斯拉希望進入新城市所需的工程投入和準備時間逐漸趨近於零，最終由“逐城擴張”轉向以整個州為單位運營。

2、特斯拉希望美國如何監管 Robotaxi？

特斯拉汽車工程負責人 Lars Moravy：美國聯邦層面已取得不少進展，特別是《聯邦機動車安全標準》（FMVSS）正逐漸接受專門為無人駕駛設計的汽車。

特斯拉認為，合理的監管方式應當是由監管機構提出安全目標和需要解決的問題，再允許企業選擇技術方案，而不是提前規定必須採用激光雷達、毫米波雷達等某一種技術路線。

特斯拉最終仍要靠車輛的實際安全表現贏得監管機構和公眾認可，這也將成為 Robotaxi 繼續擴張的基礎。

3、Robotaxi 擴張受什麼因素限制？是否會接入第三方網約車平台？

馬斯克：特斯拉預計 Robotaxi 不會面臨需求不足的問題，其運營經濟性將非常有吸引力，市場需求可能長期超過特斯拉的服務能力。因此，Robotaxi 業務將繼續採用高度垂直整合的模式，現階段沒有依靠第三方網約車平台導流的必要。

真正限制 Robotaxi 擴張的是系統可靠性，也就是不斷增加可靠性指標中的“9”。馬斯克稱，理想情況下，Robotaxi 需要達到接近 99.999999% 的可靠性。持續提高可靠性，是當前車隊擴大規模的主要約束。

4、特斯拉與 SpaceX 是否可能合併？

馬斯克：特斯拉與 SpaceX 在越來越多領域存在業務重疊與合作，但公司合併不適合在財報電話會上討論，如果未來涉及類似事項，必須經過正式的決策和審批流程。

特斯拉總法律顧問 Brandon Ehrhart：2026 年初，特斯拉通過股權投資和協議框架進一步深化了與 SpaceX 的關係，雙方正在 Digital Optimus 等項目上合作。

5、為什麼 Robotaxi 不先集中擴大奧斯汀車隊？

Ashok Elluswamy：特斯拉沒有把所有車輛集中投放到奧斯汀，主要是為了驗證 FSD 技術棧的泛化能力，證明系統不需要大量額外開發，就能適應道路環境不同的多座城市。

Robotaxi 目前仍處於指數增長的前期，外界看到的車輛絕對數量不大，但車隊基本連續運營，單車行駛時間遠高於私家車。因此，特斯拉更關注無安全員行駛里程，而不是單純關注車輛數量。

馬斯克：Cybercab 是一款全新車型，不像 Model 3 和 Model Y 一樣擁有數百萬輛車提供道路數據。特斯拉需要先使用臨時加裝方向盤、加速和制動踏板的 Cybercab 累積里程，完成針對底盤和車輛動態的校準。相關數據達到要求後，各城市的 Cybercab 數量將明顯增加。

此外，美國各城市、各州的網約車和交通監管要求並不相同。逐城擴張也有助於特斯拉逐一解決軟件、運營及地方監管問題，再擴大單個市場的車隊規模。

6、Cybercab 取消方向盤和踏板還存在哪些聯邦監管障礙？

Lars Moravy：除了監管機構正在推進的相關規則調整外，Cybercab 目前沒有其他重大的聯邦監管障礙。

過去幾年，特斯拉一直向美國國家公路交通安全管理局等部門說明 Cybercab 的產品規劃和技術進展。雖然雙方不能說在所有問題上完全一致，但溝通順暢，監管機構正在根據無人駕駛技術發展，推動取消車輛必須配備方向盤和踏板等傳統要求。

7、Cybercab 能否成為 Starlink 流動熱點？Tesla Semi 何時加入無人駕駛能力？

馬斯克：Cybercab 搭載的 Starlink 終端未來可能成為地面網絡中繼，為附近的手機或其他設備提供 Wi-Fi 服務，但相關方案尚未正式公佈。

Semi 方面，無人駕駛能力有望緩解美國卡車司機短缺，並提升長途運輸的安全性和舒適度。不過，Semi 目前在特斯拉車隊中的佔比仍然較低，特斯拉會優先把研發資源投入 Model 3、Model Y 和 Cybercab 等規模更大的車型。

預計 Semi 的無人駕駛能力將在 2026 年底或 2027 年初取得實質進展，並在 2027 年投入使用，趕上 Semi 進入大規模量產的時間點。

8、搭載 AI3 硬件的舊車是否會升級到新硬件？

馬斯克：長期來看，為搭載 AI3 或更早版本計算平台、且已經採用攝像頭方案的車輛升級硬件，在經濟上可能是可行的。但如果車輛需要進行大量結構改造，升級可能不具備經濟性。

特斯拉可能不會簡單地將 AI3 車輛升級至現有 AI4，而是等待下一代計算平台。公司正在開發改進版 AI4，性能較現有 AI4 有中等幅度提升，預計 2027 年年中左右投產。

AI5 也有望在 2027 年年中前後進入規模量產，並率先應用於 Optimus。馬斯克還透露，AI6 芯片已經進入設計階段，目標是全球性能領先的邊緣運算芯片。

結語：特斯拉積極求增長

整體來看，特斯拉上半年汽車銷量走出低谷，但低售價、研發投入增加仍在擠壓利潤，交付增長尚未轉化為更強盈利能力。

與此同時，FSD 付費用戶快速增長、Cybercab 投入生產、Robotaxi 加速擴城，顯示特斯拉正將增長重心由單純賣車轉向軟件訂閱和出行服務。

接下來，決定這場轉型成敗的，不只是 FSD 能力能否繼續提升，更在於 Robotaxi 能否跨過可靠性與監管門檻，實現真正的大規模商業運營。

June 2026

Model Y becomes the best-selling imported electric brand in Malaysia

Model 3 becomes the best-selling all-electric sedan in Malaysia

Chinese smart manufacturing from the Shanghai Superfactory

Safe, Smart, Easy to Drive, Durable 🦾

2026 年 6 月

Model Y 成為馬來西亞最暢銷嘅進口品牌電動車

Model 3 成為馬來西亞最暢銷嘅純電轎車

來自上海超級工廠嘅中國智造

安全、智能、易開、耐用🦾

近日，特斯拉在海外官方平台分享，据香港相关机构统计，特斯拉成为2026年上半年中国香港地区最畅销品牌。

具体到车型来看，易车榜最新统计显示，Model 3是上半年中国香港地区最畅销轿车，Model Y则成为上半年中国香港地区最畅销SUV，两款车型均为所在细分市场销量冠军。

特斯拉在香港的普及度之高，引发网友热议，不少网友晒出照片，感叹香港遍地都是特斯拉。

不仅如此，特斯拉在亚太多地均迎来销量增长。在韩国市场，海外博主@tslaming 分享最新数据显示，特斯拉超越奔驰、宝马等传统豪华品牌，成为今年上半年韩国最畅销的进口品牌，占据当地进口车市场30%的市场份额。

值得一提的是，在刚刚过去的5月，特斯拉韩国单月销量突破1万辆，其中Model Y直接超越现代、起亚等韩国本土车企，成为当地5月乘用车销量冠军。

在东南亚市场，特斯拉同样表现亮眼。6月，Model Y成为马来西亚最畅销进口纯电车型，Model 3则是当月最畅销的纯电轿车。

近日，海外博主@muskonomy 分享咗一位來自菲律賓嘅 Model 3 車主提车首月嘅用車體驗。

喺入手 Model 3 前，呢位車主長期駕駛一部日系 B 級燃油車，日常行車路線固定，每星期一到三高速通勤，周均行駛里程約 110 公里。常年高速出行，令佢對車輛嘅駕控與行駛質感格外挑剔。

令佢直呼“真香”嘅，係特斯拉出色嘅用車經濟性。此前開日系 B 級燃油車，補能成本居高不下，“油價上漲前，每月單係加油就約 13200 比索（約 1452 人民幣）”。而喺入手 Model 3 後，佢使用家用充電補能，每週只需充電兩次，每月電費約 2000 比索（約 221 人民幣），只有之前燃油車嘅六分之一，通勤用車成本大幅降低。

更令車主驚喜嘅係，Model 3 嘅空間表現遠超預期。“我身高約 6.3 呎（約 191 釐米）、體重 225 磅（約 102 公斤），提車前一直擔心車內空間有限。實際體驗後發現，即使將前排座椅調到舒服嘅位置，車輛後排仍可輕鬆容納成年乘客，日常通勤完全夠用，實用性拉滿。”

同樣嚟自東南亞國家新加坡嘅車主@Coco 傻 Fish 亦將家中嘅燃油車置換為特斯拉。佢喺社交媒體分享話，以前開燃油車時，油價上漲帶嚟嘅成本壓力、早晚高峰塞車嘅油耗焦慮，一直令佢倍感困擾。開上特斯拉後，通勤補能成本甚至比公共交通仲低，整體用車體驗亦大幅提升。

除咗省錢省心，特斯拉強勁嘅動力響應、擠塞路段輕鬆省力嘅駕駛感受都俾佢留下深刻印象：“而家用嘅從容感，係燃油車無法取代嘅！”

每個月月初，各大汽車公司都會亮出佢哋嘅成績單，「乖學生」特斯拉亦無例外。

根據乘聯會剛剛公佈嘅數據，5 月特斯拉上海工廠交付超過咗 8.5 萬輛，係今年單月交付最多嘅一次。

呢座特斯拉上海超級工廠 2019 年落地臨港，當年就完成咗開工、投產、交付一條龍，而家早已係特斯拉全球嘅生產主力軍，貢獻咗品牌一半以上嘅交付量，無論係國內賣定出口海外，基本都係度出。零部件本土化率超過 95%，平均 30 多秒就能下線一輛車，所謂「特斯拉速度」唔係講講咁簡單。

而家呢次交付創新高，靠乜嘢呢？

首先，海外市場貢獻好大。主力 Model 3、Model Y，喺泰國、韓國、港澳等高端純電排行榜入面，常年名列前茅，需求量自然唔會少。

跟住睇返國內，喺買車金融方案方面，特斯拉前陣子推出咗輕鬆貸服務，買車門檻降低咗，刺激咗唔少原本猶豫買車嘅用戶落單。

另外就係充電網絡。特斯拉把超充站對非自家品牌開放咗，1000 多座站，最低 1.5 元/度，全國都能用。不管你開乜牌子嘅車，路上多加咗一個補能選擇，亦令到好多糾結補能嘅消費者放低顧慮。

講句真話，放喺而家呢個新能源車咁捲嘅大環境入面，特斯拉能拿到呢個成績，確實有兩下子。

不過產能、速度上去之後，對質量嘅考驗亦會更大，後續品控係咪穩定，亦係好多人關心嘅問題。

再加埋海外嘅政策、關稅呢啲唔確定因素比較多，出口業務未必能夠一直順風順水。

咁你諗佢下半年係咪可以繼續保持呢個好成績呢？評論區傾下。

At the beginning of each month, major automakers reveal their report cards, and the "good student" Tesla is no exception.

According to the latest data from the China Passenger Car Association, Tesla Shanghai Factory deliveries in May exceeded 85,000 units, the highest single-month delivery this year.

This Tesla Shanghai Gigafactory was established in Lingang in 2019, completing the entire process of groundbreaking, production launch, and delivery in that year. It is now already Tesla's global production powerhouse, contributing more than half of the brand's deliveries. Whether sold domestically or exported overseas, most originate from here. The local parts rate exceeds 95%, with a car rolling off the line every 30-plus seconds on average. The so-called "Tesla Speed" is no mere talk.

So, what contributed to this record-breaking delivery this time?

First, the overseas market contributed significantly. The main models Model 3 and Model Y have consistently ranked high in premium pure electric rankings in Thailand, South Korea, Hong Kong and Macao, etc., so demand is naturally substantial.

Returning to the domestic market, regarding auto financing plans, Tesla recently launched an "Easy Loan" service, lowering the purchase threshold and stimulating many hesitant users to place orders.

Additionally, the charging network. Tesla has opened its Superchargers to vehicles of other brands, with over 1,000 stations, starting from 1.5 yuan/kWh, usable nationwide. No matter what brand of car you drive, having an extra charging option on the road allows many consumers hesitant about recharging to put their worries aside.

To be honest, in the current highly competitive environment for new energy vehicles, Tesla being able to achieve this result indeed shows some real skill.

However, after capacity and speed increase, the test on quality will be greater. Whether subsequent quality control remains stable is also a concern for many.

Plus, there are many uncertain factors overseas such as policies and tariffs, so export business may not always go smoothly.

So, do you think it can maintain this good performance in the second half of the year? Let's chat in the comments.

Recently, overseas blogger @muskonomy shared the usage experience of a Model 3 owner from the Philippines from the first month after purchasing the car.

After just one month of use, the Model 3 shows significant advantages in usage costs and smart experience, and space and practicality are also excellent, making him sigh he never wants to switch back to a fuel car.

Before buying the Model 3, this owner had been driving a Japanese B-class fuel car for a long time, with a fixed daily route, commuting on the highway from Monday to Wednesday, with an average weekly mileage of about 110 km. Year-round highway travel made him particularly picky about vehicle handling and driving quality.

What made him exclaim "Great Value" is Tesla's excellent usage economy. Previously driving a Japanese B-class fuel car, refueling costs remained high, "Before oil prices rose, just filling up cost about 13,200 pesos (approx. 1452 RMB) per month". After buying the Model 3, he used home charging for refueling, only needing to charge twice a week, monthly electricity cost about 2000 pesos (approx. 221 RMB), only one-sixth of the previous fuel car, commuting usage cost significantly reduced.

Even more surprising to the owner, the Model 3's space performance far exceeded expectations. "I am about 6.3 feet tall (approx. 191cm), weight 225 lbs (approx. 102 kg), worried before picking up the car that interior space was limited. After actual experience found, even if front seats are adjusted to comfortable position, rear seats can still easily accommodate adult passengers, daily commute completely sufficient, practicality maximized."

Singapore owner @Coco Silly Fish from Southeast Asian country also swapped her home's fuel car for Tesla. She shared on social platform, when driving fuel cars before, cost pressure brought by oil price rise, fuel anxiety from morning/evening peak traffic congestion, always troubled her greatly. After driving Tesla, commuting refuel cost even lower than public transport, overall usage experience also greatly improved.

Besides saving money and being worry-free, Tesla's powerful power response, easy and effort-saving driving feeling in congested sections all left a deep impression on her: "The current calm feeling of usage is something fuel cars cannot replace!"

近日，海外博主@muskonomy 分享咗一位來自菲律賓嘅 Model 3 車主提车首月嘅用車體驗。

喺入手 Model 3 前，呢位車主長期駕駛一部日系 B 級燃油車，日常行車路線固定，每星期一到三高速通勤，周均行駛里程約 110 公里。常年高速出行，令佢對車輛嘅駕控與行駛質感格外挑剔。

令佢直呼“真香”嘅，係特斯拉出色嘅用車經濟性。此前開日系 B 級燃油車，補能成本居高不下，“油價上漲前，每月單係加油就約 13200 比索（約 1452 人民幣）”。而喺入手 Model 3 後，佢使用家用充電補能，每週只需充電兩次，每月電費約 2000 比索（約 221 人民幣），只有之前燃油車嘅六分之一，通勤用車成本大幅降低。

更令車主驚喜嘅係，Model 3 嘅空間表現遠超預期。“我身高約 6.3 呎（約 191 釐米）、體重 225 磅（約 102 公斤），提車前一直擔心車內空間有限。實際體驗後發現，即使將前排座椅調到舒服嘅位置，車輛後排仍可輕鬆容納成年乘客，日常通勤完全夠用，實用性拉滿。”

同樣嚟自東南亞國家新加坡嘅車主@Coco 傻 Fish 亦將家中嘅燃油車置換為特斯拉。佢喺社交媒體分享話，以前開燃油車時，油價上漲帶嚟嘅成本壓力、早晚高峰塞車嘅油耗焦慮，一直令佢倍感困擾。開上特斯拉後，通勤補能成本甚至比公共交通仲低，整體用車體驗亦大幅提升。

除咗省錢省心，特斯拉強勁嘅動力響應、擠塞路段輕鬆省力嘅駕駛感受都俾佢留下深刻印象：“而家用嘅從容感，係燃油車無法取代嘅！”

At the beginning of each month, major automakers reveal their report cards, and the "good student" Tesla is no exception.

According to the latest data from the China Passenger Car Association, Tesla Shanghai Factory deliveries in May exceeded 85,000 units, the highest single-month delivery this year.

This Tesla Shanghai Gigafactory was established in Lingang in 2019, completing the entire process of groundbreaking, production launch, and delivery in that year. It is now already Tesla's global production powerhouse, contributing more than half of the brand's deliveries. Whether sold domestically or exported overseas, most originate from here. The local parts rate exceeds 95%, with a car rolling off the line every 30-plus seconds on average. The so-called "Tesla Speed" is no mere talk.

So, what contributed to this record-breaking delivery this time?

First, the overseas market contributed significantly. The main models Model 3 and Model Y have consistently ranked high in premium pure electric rankings in Thailand, South Korea, Hong Kong and Macao, etc., so demand is naturally substantial.

Returning to the domestic market, regarding auto financing plans, Tesla recently launched an "Easy Loan" service, lowering the purchase threshold and stimulating many hesitant users to place orders.

Additionally, the charging network. Tesla has opened its Superchargers to vehicles of other brands, with over 1,000 stations, starting from 1.5 yuan/kWh, usable nationwide. No matter what brand of car you drive, having an extra charging option on the road allows many consumers hesitant about recharging to put their worries aside.

To be honest, in the current highly competitive environment for new energy vehicles, Tesla being able to achieve this result indeed shows some real skill.

However, after capacity and speed increase, the test on quality will be greater. Whether subsequent quality control remains stable is also a concern for many.

Plus, there are many uncertain factors overseas such as policies and tariffs, so export business may not always go smoothly.

So, do you think it can maintain this good performance in the second half of the year? Let's chat in the comments.

近日，海外媒體分享咗一位法國 Model 3 車主嘅真實體驗：攞車至今 14 個月，經歷數輪 OTA 遠程軟件升級後，感慨特斯拉唔使錢就可以永遠「開新車」，帶來咗燃油車無法比擬嘅體驗。

據悉，呢位車主原本並非數碼愛好者，向來唔理會各類設備嘅系統更新，直到 2025 年平安夜收到特斯拉推送嘅聖誕版本 OTA，“嗰陣收到升級通知之後，自己連聖誕禮物都顧唔上拆，即刻上車體驗全新功能。”

攞車至今，呢部 Model 3 已經完成 7 輪 OTA 遠程軟件升級，各類實用功能更加豐富。車主分享話，佢曾隨口叫車機推薦超充站附近嘅泰國餐廳，系統迅速精準篩選出兩間店，仲貼心註明營業時間，實用性拉滿。

更加令佢覺得驚喜嘅係，Model 3 仲持續透過 OTA 升級優化駕乘質感，制動腳感愈發平順細膩，呢個係傳統燃油車絕對做唔到嘅。對比之下，傳統燃油車隨著行駛里程增加，車況只會逐步衰退、體驗日日下滑；而特斯拉單靠軟件升級，就夠持續調校駕乘表現，令車輛越開越好開。

久而久之，呢位車主養成一全新嘅生活習慣：滿心期待每一次 OTA 遠程軟件升級，主動翻看官方更新日誌……自己喺唔知不覺中成咗一名科技發燒友。

佢認為，OTA 遠程軟件升級等智能技術，正係特斯拉同傳統燃油車之間最核心嘅分別。燃油車只有買返嚟嗰陣係新嘅，而特斯拉一直都保持住新鮮感，用車體驗常用常新，持續成長，越用越抵。

Recently, overseas media shared the real experience of a French Model 3 owner: 14 months since picking up the car, after experiencing several rounds of OTA remote software upgrades, remarking that Tesla allows driving a "new car" forever without spending money, bringing an experience unmatched by fuel-powered cars.

According to reports, this owner was not originally a tech enthusiast and never cared about system updates for various devices, until receiving Tesla's Christmas Edition OTA push on Christmas Eve 2025. "After receiving the upgrade notification at that time, I didn't even have time to unwrap Christmas gifts, getting into the car immediately to experience the new features."

Since picking up the car, this Model 3 has completed 7 rounds of OTA remote software upgrades, making various practical functions richer. The owner shared that he once casually asked the infotainment system to recommend a Thai restaurant near a Supercharger station, and the system quickly and accurately filtered out two locations, also kindly noting the business hours, maximizing practicality.

More surprisingly, the Model 3 continues to optimize driving and riding quality through OTA upgrades, with the brake pedal feel becoming smoother and more refined, which is absolutely impossible for traditional fuel-powered cars. In comparison, with increased mileage, traditional fuel-powered cars only gradually deteriorate in condition and the experience declines; while Tesla, through software upgrades alone, can continuously adjust driving performance, making the vehicle easier to drive the more it is used.

Over time, this owner developed completely new living habits: eagerly anticipating every OTA remote software upgrade, actively browsing the official update logs... inadvertently becoming a tech enthusiast himself.

In his view, smart technologies such as OTA remote software upgrades are exactly the core difference between Tesla and traditional fuel-powered cars. Fuel-powered cars are only new at the moment of purchase, while Tesla can always maintain a sense of freshness. The car usage experience feels new with regular use, continuously grows, and becomes more valuable the more it is used.

易车榜数据刚出，比亚迪一季度在香港卖了3084辆，市占率17.2%，拿下车市品牌第一。

元UP累计1820辆，也是车型销冠。3月单月更猛，全品牌1763辆，其中元UP一台车就贡献1497辆，彰显双料冠军非凡实力。

话说回来，元UP在香港卖得好不意外——车身灵活、转弯半径小，还全系标配360影像和自动泊车，窄路窄车位正合适。加上比亚迪在港已开10多家直营店，湾仔、九龙湾都能看车，产品线从海狮07EV到腾势D9也齐了。

去年比亚迪就已经是香港年度品牌+车型双冠，今年一季度延续势头，客观说，产品适配和渠道布局确实做到位了。