Tesla reports record earnings but sees supply chain issues in 2022

SAN FRANCISCO — Tesla on Wednesday anticipated supply chain challenges to go on via this 12 months, after submitting report quarterly revenue that beat Wall Street estimates.

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

Revenue rose to $17.72 billion in the fourth quarter, from $10.74 billion a calendar year previously. Analysts had anticipated the electrical-auto maker to report earnings of $16.57 billion, according to IBES facts from Refinitiv.

The world’s most valuable automaker past quarter handed more than a report number of motor vehicles to consumers irrespective of source chain headwinds.

“Our very own factories have been managing down below ability for quite a few quarters as offer chain became the main limiting factor, which is possible to continue by means of 2022,” Tesla said in a assertion.

Tesla claimed on Wednesday that its new factory in Austin begun manufacturing of Model Y late previous calendar year, expressing it options to start deliveries to clients right after closing certification, without elaborating on the timeframe.

It stated it aims to optimize output from its California manufacturing facility outside of 600,000 vehicles for every year.

Tesla has fared greater than most automakers in taking care of offer chain issues by making use of fewer scarce chips and immediately re-creating software.

Tesla faces troubles of scaling up manufacturing at two new factories this yr with technological innovation adjustments as nicely as battery and other provide chain constraints clouding the outlook.

It faces climbing level of competition from rivals who are set to start an array of electrical vehicles, from much more reasonably priced versions to electrical pickups.