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Tesla posted document quarterly earnings Wednesday that beat Wall Boulevard estimates, however stated it anticipated provide chain problems to proceed thru this yr.

The inventory fell 2.7% in after-hours buying and selling.

Income rose to $17.72 billion within the fourth quarter, from $10.74 billion a yr previous. Analysts had anticipated the electric-vehicle maker to record earnings of $16.57 billion, in keeping with IBES information from Refinitiv.

The sector’s most dear automaker closing quarter passed over a document selection of automobiles to consumers regardless of provide chain headwinds.

“Our personal factories were working underneath capability for a number of quarters as provide chain was the primary proscribing issue, which is more likely to proceed thru 2022,” Tesla stated in a commentary.

Tesla stated on Wednesday that its new manufacturing facility in Austin, Texas, began manufacturing of its Type Y overdue closing yr, announcing it plans to begin deliveries to consumers after ultimate certification, with out elaborating on the time frame.

It stated it objectives to maximise output from its California manufacturing facility past 600,000 automobiles in keeping with yr.

Tesla Model Y
Tesla stated its new manufacturing facility in Austin, Texas, now makes Type Ys and the electric-car maker plans to begin deliveries to consumers.
Getty Pictures

Tesla has fared higher than maximum automakers in managing provide chain problems by way of the use of much less scarce chips and temporarily re-writing tool.

Tesla faces demanding situations of scaling up manufacturing at two new factories this yr with generation adjustments in addition to battery and different provide chain constraints clouding the outlook.

It faces emerging pageant from opponents who’re set to release an array of electrical vehicles, from extra inexpensive fashions to electrical pickups.


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