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Jan 28, 2022

Are Tesla’s Record 2021 Profits Enough to Keep It in the Lead?

Posted by in categories: sustainability, transportation

The company sold roughly one million cars in 2021.

The electric vehicle manufacturer announced yesterday that it made $5.5 billion in profits last year after selling nearly one million cars. That’s six times more than it did in 2020. But even those numbers weren’t enough to reassure investors that Tesla’s future success is a sure thing.

Surprisinglyfell sharply after the announcement because it also disclosed that supply chain problems have been forcing Tesla factories to run below capacity for months. Its 2022 outlook was also short on details about when new factories will come online, according to several analysts. Meanwhile, rival EV manufacturers are on the rise as the might of U.S. and global auto manufacturing shifts momentum into sustainable, electric vehicles.

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