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Tesla reports more than $3B in profit in early 2022

(Tesla)

Things are looking up for Tesla following the Giga Texas grand opening.


The ability to run factories at full capacity this year has been limited by global supply chain constraints that the company expects will persist through the year. But still, Tesla reported strong revenue growth in the first quarter of 2022.

Highlights from the start of Tesla’s year:

  • $3.3 billion in profit as revenue increased 81% year over year
  • 310,048 vehicle deliveries with Model 3 and Model Y’s making up 95% of it
  • Giga Texas held its grand opening party, marking the start of deliveries from southeast Travis County

If you’re ordering an EV, don’t expect a quick delivery or last year’s costs. CEO Elon Musk noted inflation pressures and said the waitlist extends into next year. Plus supplier and logistics cost growth are now reflected in prices. But he emphasized the high-quality production at the company’s headquarters.

“I’ve never been more optimistic or excited about Tesla’s future than I am right now,” Musk said.

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