NDTV News

NDTV.com provides latest news from India and the world. Get today’s news headlines from Business, Technology, Bollywood, Cricket, videos, photos, live news coverage and exclusive breaking news from India.

https://www.ndtv.com/

Elon Musk's Tesla Rides Grandly On Electric Vehicles With Record Profit.

Elon Musk's Tesla Rides Grandly On Electric Vehicles With Record Profit

Elon Musk's company reported a 71 per cent rise in revenues to $53.8 billion.

New York:

Tesla rode rising demand for electric vehicles to a record $5.5 billion profit in 2021, but cautioned that supply chain problems would continue to crimp production through 2022.

Elon Musk's company, which scored an 87 per cent jump in auto deliveries last year in spite of the global semiconductor shortage, reported a 71 per cent rise in revenues to $53.8 billion.

But the electric auto maker said it saw no immediate relief from supply chain despairs that have hit activity "for several quarters," it said.

"We plan to grow our manufacturing capacity as quickly as possible," Tesla said in a news release that reiterated the company's target of 50 percent annual growth.

"The rate of growth will depend on our equipment capacity, operational efficiency and the capacity and stability of the supply chain," Tesla said.

"Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022."

In the most recent quarter, Tesla scored a $2.3 billion profit, up more than eight times the year-ago level as revenues jumped 65 percent to $17.7 billion.

Tesla has been ramping up production at factories in California and Shanghai, while also building new facilities in Germany and Texas.

Tesla said it began building Model Y vehicles in Texas in late 2021, while it started equipment testing in Germany around the same time.

"We are still in the process of finalizing the manufacturing permit from local authorities" in Germany, Tesla said.

Останні новини
Ukrainian Forces Pound Russian Positions with Artillery Fire.

Ukrainian Forces Pound Russian Positions with Artillery Fire.

Ukrainian forces continue to fight against Russian troops in the Kharkiv region, pinning down enemy positions with artillery fire. The Russian army bombarded Kharkiv, Ukraine's second largest city, which lies less than 40 kilometers from the Russi...

The Take with Sophy Ridge: Attorney General says the government want 'renegotiated' NI Protocol.

The Take with Sophy Ridge: Attorney General says the government want 'renegotiated' NI Protocol.

Attorney General Suella Braverman has said that the government want a "renegotiated" Northern Ireland Protocol. SUBSCRIBE to our YouTube channel for more videos: Follow us on Twitter: Like us on Facebook: Follow us on Instagram: Follow us on TikTo...

The Take with Sophy Ridge: Shadow Secretary says Tory's will 'concede' to Labour cost of living plan.

The Take with Sophy Ridge: Shadow Secretary says Tory's will 'concede' to Labour cost of living plan.

Bridget Phillipson, Shadow Education Secretary says it's only a matter of time before the conservatives "concede" to Labour's cost of living plan. SUBSCRIBE to our YouTube channel for more videos: Follow us on Twitter: Like us on Facebook: Follow ...

1

Stock Markets Plummet, Dow On Pace For Biggest Single Day Drop Since 2020.

Stock Markets Plummet, Dow On Pace For Biggest Single Day Drop Since 2020.

Stock markets plunged in the afternoon with the Dow on pace for its biggest loss in two years. CNBC’s Seema Mody explains how big retailers including Walmart and Target figure into these losses. » Subscribe to NBC News: » Watch more NBC video: NBC...

Report: Boeing Jet May Have Intentionally Crashed, Killing 132 People In China.

Report: Boeing Jet May Have Intentionally Crashed, Killing 132 People In China.

A Wall Street Journal report suggests someone may have entered the cockpit and intentionally crashed a Boeing plane two months ago, killing 132 people. NBC News’ Janis Mackey Frayer reports on the new findings. » Subscribe to NBC News: » Watch mor...

What the latest primary results mean for the midterm elections.

What the latest primary results mean for the midterm elections.

While the ​Pennsylvania Republican primary race still remains too close to call, Lt. Governor John Fetterman secures the Democratic primary victory. WATCH the ABC News Livestream: SUBSCRIBE to ABC News: WATCH MORE on LIKE ABC News on FACEBOOK: FOL...