Tesla constructed 305,000 automobiles within the first “exceptionally tough” quarter of this 12 months, delivered 310,000 of them, and opened new factories in Berlin and Austin — all whereas CEO Elon Musk sought a extremely publicized hostile takeover of Twitter.
Tesla’s latest manufacturing unit investments, in addition to efforts to shore up its battery part provide chain, are a part of the corporate’s localization technique, which seeks to decrease manufacturing prices by constructing automobiles nearer to the markets they will finally be bought in. But like the remainder of the automotive business, Tesla faces an more and more tight provide of important semiconductors and rising costs spurred by inflation itself introduced on by Russia’s invasion of Ukraine. It is also at present navigating the shuttering of its Gigafactory in Shanghai, which closed on account of COVID outbreaks within the area. Work on the manufacturing unit has solely partially resumed in latest days.
At the opening of the Austin Gigafactory earlier this month, Musk confirmed that the long-awaited Cybertruck would lastly be happening sale in 2023 and {that a} vast beta of its Full Self-Driving expertise could be rolling out all through North America this 12 months. However, each the Cybertruck and the upcoming Roadster (in addition to “Future Products”) are nonetheless listed as “in growth,” versus “in manufacturing” because the X/S and three/Y are on this newest buyers deck. Q1 2022 additionally noticed worth will increase throughout Tesla’s mannequin lineup and the elimination of free of charge cell charging tools. Overall, the corporate posted $3.3 billion in internet earnings up from $438 million final 12 months.
Tesla will maintain its quarterly investor teleconference at 5:30pm ET right now, keep tuned for updates from that decision together with no matter enjoyable tidbits come out of Elon’s mouth throughout it.
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