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[JPMorgan Releases Research Report: Tesla's Q2 Deliveries Exceed Expectations but Rating Remains Neutral] According to Trend Research, JPMorgan's report confirms Tesla's Q2 deliveries reached 4.801 million units, surpassing Bloomberg's consensus by 21% and exceeding JPMorgan's forecast by 14%. Year-over-year growth in June was 105% in Europe, 89% in Australia, 24% in China, while the U.S. market declined by 27%. FSD received new approvals in Belgium, Denmark, Lithuania, Estonia, and the Netherlands, and the third generation of Optimus will begin production in July. Energy storage reached 13.5 GWh, exceeding JPMorgan's expectations but falling short of the company's internal consensus of 13.8 GWh. The target price remains $475, corresponding to a 2030 EPS of $7.50. The rating remains neutral due to a timing mismatch.