July 26 (Reuters) – Tesla Inc. (TSLA.O) posted higher-than-expected earnings on Tuesday due to higher sales and lower costs due to higher sales of low-cost electric vehicles.
Tesla CEO Elon Musk, however, did not provide details on the global chip shortage caused by the temporary shutdown of the automaker and the availability of cybertrack and next-generation batteries.
For the first time since the end of 2019, Tesla’s profits have not been based on local loan sales for other cars, a sign of increased financial health for manufacturing.
The share of the world’s most valuable car manufacturer has grown by about 1%.
Tesla executives have called on investors and analysts to increase their production this year by more than 50 percent.
According to Mask, Tesla has several calls at 1:00 pm with suppliers only to solve many shortcomings.
Some people have suggested that Tesla build its own chip factory, but it has been suggested that it may take longer to develop. “That would take us 12 to 18 months,” he said.
Still, Musk said he hopes to launch limited production of the Model Y SUV this year at factories in Texas and Germany.
“I have postponed the hearing to 2022 due to the limited focus of Tesla factories and the limited number of batteries and other components this year,” he said.
Mussel Tesla did not have time to start producing the new generation of batteries and the much-anticipated Siberuer.
Referring to 4680 battery cells, he said: “It is difficult to say when the final technical challenge will be solved.”
Tesla plans to use the existing 2170 batteries, which it says will double its production next year.
The California factory, which is owned by billionaire entrepreneur, has grown from $ 6.04 billion a year ago to $ 11.96 billion when it was closed for more than six weeks due to local closures.
Analysts’ IBES data show that revenue was expected to reach $ 11.3 billion.
Excluding commodities, Tesla made a profit of $ 1.45 per share, easily surpassing analysts’ estimates of 98 cents per share.
Tesla’s operating revenue has increased by volume, growth and cost reduction, offset by high supply chain costs, low regulatory debt revenues and other items by $ 23 million.
Tesla’s profitability is often based on selling control loans to other automakers, but in the second quarter Tesla was profitable for the first time since the end of 2019. GAAP net worth was $ 1.14 billion in the second quarter. The total value of the loans was only $ 354 million.
“Tesla was impressed with its numbers, because most of its revenue comes from car sales,” said Jesse Cohen, senior analyst at Invest.com.
Car manufacturer Stantanis (STLA.MI) expects European carbon dioxide (CO2) emissions to achieve a non-Tesla environmental loan this year.
On the one hand, Musk went on to discuss financial results with investors and analysts, saying “there may not be too many revenue calls.” These calls were part of a quarterly ritual used to kill Tesla technology or to kill rivals or critics.
Reported by Gene from Berkeley, California, and Akkasha Rana, Bengalru; More report by Noel Randwich in San Francisco; Edited by Maju Samuel, David Gregory and Richard ull Lin
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