Tesla
Q3 2022 Earnings Call
Oct 19, 2022, 5:30 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Martin Viecha
Good afternoon, everyone, and welcome to Tesla's third quarter 2022 Q&A webcast. My name is Martin Viecha, VP of investor relations, and I'm joined today by Elon Musk, Zachary Kirkhorn, and a number of other executives. Our Q3 results were announced at about 3:00 p.m. Central Time in the update that we published at the same link as this webcast.
During the call, we will discuss our business outlook and make forward-looking statements. These comments are based on our predictions and expectations as of today. Actual events or results could differ materially due to a number of risks and uncertainties, including those mentioned in our most recent filings with the SEC. During the Q&A session portion of today's call, please limit yourself to one question and one follow-up.
[Operator instructions] But before we jump into Q&A, Elon has some opening remarks. Elon?
Elon Musk -- Chief Executive Officer and Product Architect
Thank you, Martin. So just to do a Q3 recap. Q3 was another record quarter on many levels. We had our industry-leading operating margin reach of 17%.
And our free cash flow surpassed $3 billion in Q3 and approached $9 billion in the past 12 months. As our factories ramp, we're looking forward to a record-breaking Q4. So, it really, knock on wood, it looks like we'll have an epic end of year. So, Q4 is looking extremely good.
On the production ramp, Giga Berlin achieved another milestone of 2,000 cars made in a week with very good quality and is ramping rapidly. Giga Austin or Giga Texas should reach this milestone very soon. And in fact, just yesterday, we extrapolated yesterday's hold rate, it would be 2,000. Our production of 4680 cells has tripled in Q3 compared to the previous quarter.
We are finally gaining rapid traction on the 4680 cell. And its output is growing rapidly, and we expect it to start incorporating in cars and having it be a significant portion of our production here in Texas in the coming months. We also have our second generation of manufacturing equipment for 4680 cells in Texas, which continues to show great progress along with our original pilot line in Fremont. The Fremont factory team once again reached record production in Q3.