Tesla posted new record full-year and fourth-quarter profits on Tuesday, despite supply chain challenges the company expects to continue into 2022.
| ticker | safety | Last | change | change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 937.41 | +19.01 | +2.07% |
The Texas-based company, led by Elon Musk, posted a record annual profit of $5.5 billion, up from a previous record of $3.47 billion in 2020, its first profitable year. According to its earnings report, the company posted a record profit of $2.32 billion in the fourth quarter of 2021, but still saw its stock trend down after the closing bell before recovering.
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In its outlook, Tesla reported that it plans to ramp up production capacity as soon as possible, but noted, “Our own factories have been running below capacity for several quarters as supply chains became the main limiting factor, which is likely to continue into 2022. “
The electric vehicle giant delivered more than 936,000 electric vehicles worldwide in 2021, up 87% year-on-year.
Musk was expected to provide a product update during an investor call after the report, where the CEO said the company is currently focused on ramping up production of current vehicle models and will not be introducing any new models this year.
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After being specifically asked if progress was being made on the prospect of a $25,000 compact that Musk had teased in the past, he replied that Tesla is not currently working on such a vehicle and that the company has “enough on the plate.” “ have gift.
He also didn’t mention any models listed as “in development” in Tesla’s Q4 financials, including a Tesla semi, a roadster, and a “future product.” Musk said the company is working to bring its Cybertruck, which is also in the development phase, to an affordable level.
Musk said he expects Tesla’s self-driving technology to reach the point where it’s safer than a human operator in 2022, and that the company could potentially announce new factory locations by the end of the year.
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As for his long-term vision for Tesla, Musk said he sees the company’s prototype humanoid robot, known internally as the Optimus, eventually becoming more important than the auto business. Musk said the robots would initially operate in Tesla factories, “doing things like moving parts.”
