Tesla has published Q4 2021 results beat expectations on January 26, despite semiconductor shortages affecting the entire industry. From October to December, the turnover of Elon Musk’s company increased by 65%, reaching 17.7 billion dollars. On the profit side, the 270 million earned in 2020 in the same period turned into 2.3 billion dollars.
Shortage of semiconductors eased
The fourth quarter is often the best for businesses, Tesla is no exception. Full-year numbers remain impressive, with $53.8 billion in revenue in 2021, up 70%. Profits hit $5.5 billion, a record giving the company the opportunity to boast in its statement, “ There should no longer be any doubt about the viability and profitability of electric vehicles “.
General Motors is investing to massively boost its production of electric vehicles
These results are all the more notable as 2021 was marked by a shortage of semiconductors. It has forced several automakers to close factories temporarily. According to The echoes the shortage has reduced global production by 13 million vehicles, compared to before the crisis.
Tesla was no exception. The lines of its factory in Fremont, California were interrupted during the month of October. The company recognizes Our own factories operated below capacity for several quarters as supply chain became the main limiting factor, which is expected to continue through 2022 “.
Produce, still produce, always produce and Tesla will be saved
Nevertheless, Tesla seems to have fared better than its competitors. The company’s car delivery rose 87% from 2020 to 936,000 units, driven by Europe and China. Elon Musk’s company took the opportunity to expand its Supercharger network by a third, with 3,476 stations.
Tesla was able to mitigate the impact of the chip shortage thanks to its centralized computer system around which its vehicles are developed. Thanks to it, the company can easily modify its software to accommodate a wider range of chips when a model is no longer available.
The company emphasizes the importance of production as a growth lever for Tesla, ” We believe competitiveness in the electric vehicle market will be determined by the ability to add capacity across the supply chain and scale up production “.
The Fremont factories, where 600,000 vehicles were built in 2021, and Shanghai should see their production increase. Two other factories in Austin, Texas and Berlin, Germany will contribute to the growth in the number of vehicles available. Tesla says it is looking for new locations for one or more factories in 2022.
The Cybertruck will wait another year
This choice of production is made to the detriment of the expansion of the product range. Elon Musk explained, “ If we were to introduce new vehicles, our total vehicle production would decrease “. The Cybertruck announced for the end of 2021 will still not be available in 2022. As for the low-cost Tesla promised by Musk, the sentence is pronounced, “ At some point we will. We have enough to do right now “said the sulphurous CEO.
In the meantime, Tesla is in great shape and is firmly waiting for the car manufacturers who have mocked it for a while. This is no longer the case. Ford, General Motors, Renault and Volkswagen have all announced ambitious plans for the electric car market. A challenge certainly for Tesla, but Elon Musk sees further than electric, ” Over time, we believe that full self-driving will become the most important source of profitability for Tesla. “.