Desk Report
Publish: 27 Jan 2022, 10:47 am
Tesla Car
Tesla rode rising demand for electric vehicles to a record
$5.5 billion profit in 2021, but cautioned that supply chain problems would continue
to crimp production through 2022.
Elon Musk's company,
which scored an 87 percent jump in auto deliveries last year in spite of the
global semiconductor shortage, reported a 71 percent rise in revenues to $53.8
billion.
But the electric auto
maker said it saw no immediate relief from supply chain woes that have hit
activity "for several quarters," it said.
"We plan to grow
our manufacturing capacity as quickly as possible," Tesla said in a news
release that reiterated the company's target of 50 percent annual growth.
"The rate of
growth will depend on our equipment capacity, operational efficiency and the
capacity and stability of the supply chain," Tesla said.
"Our own
factories have been running below capacity for several quarters as supply chain
became the main limiting fator, which is likely to continue through 2022."
In the most recent
quarter, Tesla scored a $2.3 billion profit, up more than eight times the
year-ago level as revenues jumped 65 percent to $17.7 billion.
Tesla has been
ramping up production at factories in California and Shanghai, while also
building new facilities in Germany and Texas.
Tesla said it began
building Model Y vehicles in Texas in late 2021, while it started equipment
testing in Germany around the same time.
"We are still in
the process of finalizing the manufacturing permit from local authorities"
in Germany, Tesla said.
Shares of Tesla were
unchanged in after-hours trading at $937.65.
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Topic : Tesla Electric Car
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