Audi Activesphere Concept is luxury crossover that turns into a pickup

More

Volkswagen Group delivered 572,100 all-electric vehicles in 2022

More

Mazda MX-30 e-Skyactiv R-EV revealed at the Brussels Motor Show

More

Ram Unveils 1500 Revolution BEV Concept In Las Vegas

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

Tesla posts record profit and revenue in Q3 2021

Tesla reported $1.62 billion in (GAAP) net income for the quarter, the second time it has surpassed $1 billion. The profit was nearly five times larger than the $331 million Tesla made in the same quarter a year ago.

The automaker reported a big jump in revenue, to $13.8 billion from $8.8 billion a year ago, as sales of the Model Y continued to rise in the United States, China and Europe.

The strong results came after Tesla delivered 73% more vehicles year-on year—241,391 units in Q3 2021, compared to 139,593 units in Q3 2020. So far this year, Tesla has sold around 627,300 vehicles.

Most automakers reported sales declines in the U.S. last quarter due to chip and other shortages.

“A variety of challenges, including semiconductor shortages, congestion at ports and rolling blackouts, have been impacting our ability to keep factories running at full speed,” the company said in a statement to shareholders.

In its shareholder statement, Tesla also said that construction of its new factory near Austin is progressing as planned and it’s preparing equipment and “fabricating our first pre-production vehicles.”

The factory, which is centrally located versus Tesla’s other assembly plant in Fremont, California, will send Model Y small SUVs and new Cybertruck pickups to East Coast population centers. Tesla said it expects to expand its factory capacity quickly, and over a “multi-year horizon” it expects sales to grow an average of 50% annually.

The company said it would start using lithium iron phosphate batteries for all but its long-range cars. Because iron is more abundant than raw materials used in other lithium-ion battery cells, like nickel and cobalt, LFP batteries are generally more affordable to produce.

Oct 21, 2021Blagojce Krivevski
Volkswagen ID.4 sets record for longest journey by EV in a single countryOnto adds VW’s e-up!, ID.3 and ID.4 electric models to its fleet
You Might Also Like
 
Tesla and Panasonic to manufacture PV cells and modules in Buffalo, NY
 
Tesla Supercharging Milestone For June [infographic]
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

October 21, 2021 Electric Car NewsElectric Car Sales, Electric Vehicle Sales, ev sales, Model 3, model s, Model X, model y, plug-in car sales, plug-in sales, Plug-in Vehicle Sales, tesla, Tesla Model 3, tesla model s, Tesla Model X, tesla model y
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
Recent News
IVECO BUS signs a framework agreement for the sale of up to 500 electric buses in Belgium
January 27, 2023
Audi Activesphere Concept is luxury crossover that turns into a pickup
January 26, 2023
Lexus and ChargePoint to provide RZ 450e drivers with convenient, accessible charging solutions
January 26, 2023
From diesel to eTransporter in just a few days, ABT e-Line offers conversion of used T6.1 to battery drive
January 26, 2023
Vauxhall’s Astra GSe and Grandland GSe now available to order
January 26, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
IVECO BUS signs a framework agreement for the sale of up to 500 electric buses in Belgium
January 27, 2023
Audi Activesphere Concept is luxury crossover that turns into a pickup
January 26, 2023
Lexus and ChargePoint to provide RZ 450e drivers with convenient, accessible charging solutions
January 26, 2023
Subscribe

Sign up for our newsletter to receive the latest news and event postings.

Get in touch

Email: [email protected]

Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.