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Tesla mentioned Wednesday that revenue leapt greater than sixfold final yr to $5.5 billion, the very best whole in its 19-year historical past, as gross sales continued to surge, particularly in Europe and China.
However the automaker warned that offer chain troubles stemming from the pandemic would proceed to constrain manufacturing by way of this yr.
“Our personal factories have been operating under capability for a number of quarters as provide chain grew to become the primary limiting issue, which is more likely to proceed by way of 2022,” the corporate mentioned.
The automaker reported that its income rose to $53.8 billion in 2021, from $31.5 billion a yr earlier. Deliveries elevated 87 p.c, to 936,000 vehicles.
Tesla closed the yr with a powerful fourth quarter through which income climbed 65 p.c, to $17.7 billion, and internet revenue rose to $2.3 billion, from $270 million within the comparable interval in 2020.
The corporate generated $4.6 billion in money within the fourth quarter and ended the yr with $17.5 billion in money available.
Tesla mentioned it was persevering with to work on its Cybertruck pickup however gave no goal date for manufacturing. The automobile was supposed to enter manufacturing in 2021.
The corporate’s bottom-line determine included practically $1.5 billion that it earned from promoting regulatory credit to different automakers, a slight decline from the earlier yr.
Tesla grew final yr regardless of a scarcity of laptop chips that restricted different producers’ manufacturing all through most of 2021. It was in a position to mitigate the influence of the scarcity by switching to sorts of chips that had been extra available and writing new directions, or firmware, to be embedded into the chip.
Along with its established factories in Fremont, Calif., and Shanghai, Tesla wants output from new vegetation it’s constructing in Texas and Germany to keep up its speedy development. It repeated a earlier forecast that it anticipated gross sales to develop about 50 p.c per yr on common for the following few years.
“We goal to extend our manufacturing as rapidly as we will, not solely by way of ramping manufacturing at new factories in Austin and Berlin, but in addition by maximizing output from our established factories in Fremont and Shanghai,” the corporate mentioned Wednesday. “We consider competitiveness within the E.V. market might be decided by the power so as to add capability throughout the availability chain and ramp manufacturing.”
The corporate mentioned it hoped to start delivery Mannequin Y compacts made in Austin to prospects. The beginning of manufacturing on the plant close to Berlin has been delayed due to disputes with German authorities over permits. Tesla had anticipated to start out making vehicles on the German plant by the top of 2021.
Tesla dominates the marketplace for electrical automobiles in the USA, however it’s more likely to lastly face some critical competitors this yr. Ford Motor, Common Motors, Volkswagen and Hyundai have all outlined formidable plans to introduce new electrical vehicles in the USA. Two fledgling electrical automobile producers, Rivian and Lucid Motors, even have simply began delivery automobiles designed to compete with Tesla.
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