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Tesla with record numbers: more than a billion dollars in profit in three months

2021-07-27T07:07:12.482Z


The electric car manufacturer Tesla has built more cars than ever in the past few months - and made a record profit. Some of the numbers should silence critics, but Elon Musk has yet to announce another setback.


Enlarge image

Room for growth:

Tesla charging stations in China

Photo: Thomas Peter / REUTERS

The analysts were already optimistic, now the results are even better: The electric car manufacturer Tesla earned more than a billion dollars for the first time in the past quarter. From April to June,

Elon Musk's

(50)

company posted

a surplus of $ 1.1 billion (€ 0.8 billion), ten times as much as the previous year. Tesla announced this on the Monday after the US market closed.

Despite the global shortage of chips and raw material shortages, the company says it has manufactured more than 200,000 cars, more than ever in one quarter since the company was founded in 2003.

Last spring there were around 80,000 vehicles.

Sales were just under twelve billion dollars, almost twice as much as in the same period last year - and significantly more than analysts had predicted.

However, Tesla's hopes for continued rapid growth curbed.

The reason is the chip crisis that is currently troubling many car manufacturers.

The supply of components will have a strong influence on the growth in deliveries in the remainder of the year, the company said.

Semi-trailer truck is late

Although Musk recently had to accept several setbacks in his ambitious schedules, Tesla was optimistic: At the new plants in Grünheide near Berlin and in Texas, they said they were on schedule to manufacture the first Model Y this year. Musk actually wanted to start production in Grünheide this summer. But there were always problems - most recently, for example, with the construction of the gas and power supply, for which no express permission was given.

In addition to the Model Y, the electric pick-up Cybertruck and the semi-trailer truck will be built in Texas.

In the latter case, Tesla had to announce a setback.

The delivery will not start until 2022, it said.

In April, the company announced that the first semi-trailer trucks should be delivered by the end of this year.

Jerome Guillen

, manager responsible for electric commercial vehicles, left

the company

at the beginning of June

.

$ 354 million profit from emissions certificates

For the first time, Tesla made profits outside of the extremely lucrative trading in CO2 certificates in the past quarter. The electric car pioneer once again benefited greatly from trading in emissions certificates that other car manufacturers need to improve their emissions balance and thus meet legal requirements - but the importance of the business model is declining.

So far, Tesla's net profit has always been lower than the income from the sale of CO2 certificates, which Tesla can book almost entirely as profit, almost at no cost.

In the first quarter, the CO2 certificates flushed about $ 518 million in Tesla's coffers, in the end the company posted a profit of 438 million euros.

Critics have always interpreted the high proportion of these businesses as an indication that Tesla does not actually make any money selling its electric cars.

This has changed now.

Tesla earned 354 million dollars in the second quarter with CO2 certificates - significantly less than the more than one billion dollar profit.

$ 23 million write-down on Bitcoin

One of the big questions leading up to the quarterly numbers was about the impact Musk's Bitcoin adventures had on Tesla. The company announced a $ 1.5 billion investment in Bitcoin in February. In the following weeks there was speculation about the consequences of the comparatively volatile Bitcoin exchange rate for the carmaker.

The exchange rate fluctuations were also fueled by Tesla boss Musk himself, who initially accepted Bitcoin as a means of payment for e-cars, but then backtracked with reference to the energy consumption for production.

Last week he made another U-turn: His group will "very likely" accept the cyber motto again.

The answer to the question about the impact can now be found in the quarterly figures: The US company posted a write-off of $ 23 million in connection with its Bitcoin holdings.

oho / dpa / rtr

Source: spiegel

All news articles on 2021-07-27

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