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Tesla said Wednesday that profits jumped more than sixfold to $5.5 billion in 2021, the highest total in its 19-year history, as sales continue to rise, particularly in Europe and China.
However, the automaker warned that supply chain problems from the pandemic will continue to be a constraint on production over the next year. Its shares fell more than 2 percent in aftermarket trading following the announcement.
“Our own factories have been operating below capacity for several quarters as the supply chain becomes the main limiting factor that is likely to continue into 2022,” the company said.
The automaker reported that its revenue rose from $31.5 billion a year ago to $53.8 billion in 2021. Deliveries increased by 87 percent to 936,000 vehicles.
The company’s final figure included approximately $1.5 billion from legal loan sales to other automakers, down slightly from the previous year.
Tesla grew last year despite a shortage of computer chips that limited other manufacturers’ production for much of 2021. He was able to mitigate the impact of the shortfall by switching to more readily available chip types and writing new instructions or firmware. will be embedded in the chip.
To continue its rapid growth, Tesla needs output from its established factories in Fremont, California and Shanghai, as well as new factories it has built in Texas and Germany. He reiterated his previous forecast that he expects sales to increase by an average of 50 percent per year for the next few years.
“We aim to increase our production as quickly as possible,” the company said in a statement Wednesday.
Tesla dominates the electric vehicle market in the United States, but it’s likely to face some serious competition later this year. Ford Motor, General Motors, Volkswagen and Hyundai have outlined ambitious plans to launch new electric cars in the US.
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