Saturday, June 10

Tesla beat revenue expectations in quarterly balance thanks to record deliveries

Tesla suffered and managed to overcome supply chain problems that further affected traditional automakers. This company used less scarce chips and quickly rewrote the software. In both cases such as General Motors and Ford Motor Co, they had to reduce their production.

“Our own factories ran below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue into 2022”Tesla said in a statement.

The company also gave notice that its new factory in Austin began production of the Model Y late last year. They assured that they plan to start deliveries to clients after the final certification, although without detailing the calendar.

Tesla added that its goal is to maximize output from its California factory beyond 600,000 vehicles a year.

Net income attributable to shareholders was $2.32 billion, or $2.05 per share, compared with $270 million, or 24 cents per share, a year earlier.