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Tesla posts record profit of $5.5 billion

2022-01-26T23:33:50.510Z

The group speaks of a “breakthrough year”: Tesla delivered more electric cars in 2021 than ever before. CEO Elon Musk is getting significantly richer. However, the global supply chain problems are causing concern.



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Tesla factory in Shanghai: 936,000 cars delivered worldwide

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Aly Song / REUTERS

Despite the global chip crisis and problems in the supply chains, the US electric car manufacturer Tesla earned more in 2021 than ever before in a financial year.

According to its own statements, the group posted a profit of 5.5 billion dollars (4.9 billion euros) on Wednesday – 665 percent more than in the previous year.

Revenues rose 71 percent to $53.8 billion, Tesla said after the US stock market closed in Austin.

In the annual report, tech billionaire Elon Musk's company described 2021 as a "breakthrough year for Tesla".

There is now no longer any doubt about the profitability of electric cars.

Tesla had been in the red for a long time and only posted its first annual profit since it was founded in 2003 in 2020.

Meanwhile, the group earns well: In the last quarter, the surplus rose by 760 percent year-on-year to $ 2.3 billion.

Tesla increased sales by 65 percent year-on-year to $17.7 billion in the three months ended December.

In addition, the automaker delivered a record 936,000 vehicles last year, almost twice as many as in 2020. Vehicle sales in the fourth quarter reached 308,600 - also a record.

$245 million for Elon Musk

According to the company, Tesla CEO Elon Musk was awarded $245 million in the fourth quarter.

He has achieved some operational milestones in his compensation package.

The company clearly exceeded expectations with its figures.

Nevertheless, the share initially reacted after the trading session with significant price reductions.

Tesla warned in the quarterly report that global supply chain problems continued.

This is likely to put a strain on production and make it difficult for the company to reach full capacity at its plants.

sol/dpa/AP

Source: spiegel

All business articles on 2022-01-26

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