Tesla kept its record 2021 earnings rolling into the fourth quarter

Deepak Gupta
Deepak Gupta January 26, 2022
Updated 2022/01/26 at 11:23 PM

After – and, ahem, – 2021, Tesla remains at the forefront of EV production in the United States as we enter the new year. With deliveries nearly 90% up on 2020 numbers, Tesla achieved “the highest quarterly operating margin of any volume OEMs” during that period, according to the company’s fourth-quarter numbers. Not only did the company achieve $5.5 billion in net income despite a $6.5 billion outlay for new production facilities in Berlin and Austin, Texas, it also surpassed its own revenue targets by a billion dollars. dollars.

In the fourth quarter of 2021, Tesla produced 930,000 electric vehicles (99% of which were Model Xs and Ys) and delivered 936,000 of them to customers worldwide. At the same time, the company expanded its proprietary Supercharger network by a third, now totaling 3,476 stations. The company also announced that it will likely be looking for new production locations throughout 2022, but does not currently have a list of candidate locations available to the public.

Despite widespread supply chain problems affecting the entire automotive industry, Tesla has maintained its production capabilities better than virtually any other automaker. The Fremont plant produced around 600,000 vehicles last year with plans to increase that number even after the Austin and Berlin plants come online later this year. Production at the Shanghai plant also continues to grow. According to Tesla, it managed to reduce the cost per unit of production of its vehicles to around $36,000 (and it did so in the third and fourth quarters of 2021).

Tesla CEO Elon Musk doubled down on his upbeat outlook for the company’s Full Self-Driving feature on Wednesday’s conference call. “Over time, we believe that Full Self-Driving will become the most important source of profitability for Tesla,” he noted.

Tesla’s Q4 Investor Call will take place at 5:30 pm ET today, stay tuned for live updates and commentary from Tesla executives.

Under development…

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