Tesla notches a record $1.6 billion quarterly net as it readies global production push
dpa/picture alliance via Getty Images
“We were also able to achieve an annualized production run rate of over 1 million cars toward the end of the quarter. That increase in production rate has primarily been driven by further ramping of the Model Y at our Shanghai factory,” Tesla CFO Zack Kirkhorn said during an earnings call. Still, “due to part shortages and logistics variability we have not been able to run our factories at full capacity.
Tesla's new plant near Austin, Texas, is to start producing electric vehicles in the next few months.“We believe the current supply chain issues have taken roughly 40,000 cars off the annual numbers for Tesla,” Dan Ives, an equity analyst with Wedbush Securities, said in a research note. “Despite this dynamic Musk & Co. should near the 900,000 mark for 2021 with a 1.3 million to 1.4 million unit bogey for 2022.
Still, during the quarter Tesla said it “saw a continuation of global supply chain, transportation and other manufacturing challenges. We continue to run our production lines as close to full capacity as conditions allow.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian authorities offer A$1 million reward for missing 4-year-old Cleo SmithThe Western Australian government has offered a 1 million Australian dollar ($750,000) reward for information that leads to the whereabouts of a 4-year-old girl missing for six days in a remote coastal area.
Read more »
Latina Equal Pay Day 2021: Latinas Lose More Than $1 Million In A LifetimeA Latina would need to work until she is nearly 90 years old just to make the same amount that a white man earned by age 60. Here is how the wage gap has impacted Latinas during the pandemic and beyond—and why it’s not a personal issue, but a national problem.
Read more »
Haiti gang seeks $1 million per person for kidnapped missionariesA Haitian gang that kidnapped a group of American and Canadian missionaries is asking for $17 million - or $1 million each - to release them, according to a top Haitian official.
Read more »
UBS picks 10 global stocks set to rally on a $1 trillion pandemic spending boomNew for subscribers: UBS picks 10 global stocks set to rally on a $1 trillion pandemic spending boom. Check out CNBCPro today.
Read more »
Tesla Poised for Record Quarterly Earnings on Supply-Chain ResilienceTesla is expected to notch a third consecutive quarterly profit, thanks in part to the electric-vehicle maker’s ability to navigate global supply-chain disruptions
Read more »
Tesla Posts Record Quarterly Earnings on Supply-Chain ResilienceElon Musk’s electric-vehicle maker notches a third consecutive record profit, thanks in part to its ability to navigate persistent global supply-chain disruptions.
Read more »