Tesla posts record $5.5 billion profit in 2021

Record year for Tesla

The electric pioneer made more profits than ever before in the company’s history.

(Photo: Reuters)

austin Despite the global chip crisis and problems in the supply chains, the US electric car manufacturer Tesla earned more in 2021 than ever before in a financial year. The bottom line is that the group posted a profit of 5.5 billion dollars (4.9 billion euros) on Wednesday, 665 percent more than in the previous year. Revenue climbed 71 percent to $53.8 billion, Tesla said after the US stock market closed in Austin.

In the annual report, tech billionaire Elon Musk’s company described 2021 as a “breakthrough year for Tesla”. There is now no longer any doubt about the profitability of electric cars. Tesla had been in the red for a long time and only posted its first annual profit since the company was founded in 2003 in 2020. Meanwhile, the group earns well: In the last quarter, the surplus rose by 760 percent year-on-year to $ 2.3 billion.

Tesla increased sales by 65 percent year-on-year to $17.7 billion in the three months ended December. The company clearly exceeded expectations. Nevertheless, the share initially reacted after the trading session with significant price reductions. Tesla warned in the quarterly report that global supply chain problems continued. This is likely to put a strain on production and make it difficult for the company to reach full capacity at its plants.

More: This is how Elon Musk wants to boost Tesla shares again

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