While other manufacturers are groaning under the lack of raw materials, Tesla continues to crank it up. Elon Musk’s company warns of imponderabilities in the supply of components, but remains firmly on the growth path.
The US electric car maker Tesla has managed another quarter with record results and earned more than a billion dollars in a quarter for the first time.
Elon Musk’s company increased its surplus tenfold in the three months to the end of June year-on-year to $ 1.1 billion. Tesla announced this on Monday after the US stock market closed in Palo Alto. Revenues grew 98 percent to a total of $ 12.0 billion.
Tesla also emphasized that the construction of the first plant in Europe in Grünheide near Berlin is on schedule. This year, the first e-cars should roll off the assembly line there. Given various hurdles and inconsistencies at the bureaucratic level, the uncertainty about the timetable had increased in recent months. However, there was a setback at Tesla’s semi-truck – Tesla postponed the first deliveries of the semi-trailer to 2022.
The quarterly figures clearly exceeded the forecasts of the analysts. The share reacted relatively cautiously after the trading hours, even if there were significant price gains of up to around three percent at times. Tesla also achieved record levels in delivery and production in the last quarter. The company sold 201,304 e-cars to customers and produced 206,421 units – more than ever in a single quarter since the company was founded in 2003.
Tesla largely defied the computer chip and raw material shortages that recently troubled the rest of the auto industry. Even though the company warned that the supply of chips and components would remain difficult and that growth could slow down in the second half of the year, it did not compromise on its goals – on the contrary. Tesla has so far aimed to increase its deliveries by 50 percent in 2021 after more than half a million cars in the previous year. The group has now announced that it is anticipating even stronger growth.
Only Tesla’s Bitcoin involvement, with which Musk has been shaking up the crypto market since February, no longer developed as successfully as in the previous quarter in view of the sharp price slide. After Tesla’s original $ 1.5 billion investment in the best-known cyber currency in the first quarter of 2021 led to special proceeds of around $ 100 million, the group now had to write off $ 23 million on Bitcoin holdings. Their balance sheet value was last at 1.31 billion dollars.
The electric car pioneer once again benefited greatly from trading in emissions certificates, which other car manufacturers need to improve their emissions balance and thus meet legal requirements in California and Europe, for example. Tesla made $ 354 million on this deal in the second quarter. Since the proceeds have a virtually 100% profit margin, they are extremely lucrative for Tesla. However, its importance has recently fallen sharply – both a year ago and in the previous quarter, the yield was significantly higher.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
