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Tesla Reports 26% Revenue Growth on Record Vehicle Deliveries, Accelerates Semi Truck Production

Tesla generated $28.24 billion in second-quarter revenue, a 26% increase year-over-year. The company delivered a record 480,126 vehicles globally and reported $25.5 billion in automotive revenue with diluted earnings per share of 32 cents.

Executives announced production has begun at Tesla's Nevada facility for the Class 8 Semi truck, with full-scale manufacturing expected later this year. The company is simultaneously expanding 4680 battery cell production to support both Semi and Cybercab programs.

Operating income reached $398 million as elevated research and development expenses reflected investments in battery manufacturing, lithium refining and commercial vehicle production. Capital expenditures more than doubled to $5.8 billion, with management projecting spending will exceed $25 billion annually and continue rising in coming years as Tesla executes its largest investment cycle.