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Monday, September 20, 2021

Tesla’s Profit exceeded $1 billion for the first time

Electric car maker Tesla has released results for the second quarter of 2021. For the first time in history, the company made a net profit of more than $ 1 billion, writes CNBC.

Tesla’s revenue was $ 11.96 billion against the expected, according to Refinitiv, $ 11.3 billion. Net income – $ 1.14 billion, distributed earnings per share $ 1.45 (98 cents, according to Refinitiv’s forecast).

Total EV revenue reached $ 10.21 billion. Tesla previously said it delivered 201,250 vehicles and produced 206,421 vehicles during the quarter.

Tesla has announced that it is going to start production of the Model Y SUV in 2021 in Texas (Austin) and Germany.

Despite the pandemic and the auto supply chain crisis, Musk’s company reported record deliveries during the quarter thanks to sales of cheaper models, including Model 3 sedans and Model Y crossovers, Reuters notes.

Tesla unveiled its fastest EV in June. The new version of the Model S is called Plaid. It can pick up a speed of almost 100 km / h in two seconds, and in general can reach it up to 320 km/h.

The day before, on July 26, Business Insider, citing sources, said that Tesla Energy had asked a team of more than 20 employees to examine social networks and websites for complaints about the company.

In addition to solving problems, employees tried to convince customers to remove critical reviews about Musk.

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