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Tesla reports record earnings but has supply chain problems in 2022



SAN FRANCISCO – Tesla On Wednesday, supply chain problems are expected to continue this year, after posting record quarterly revenue that beat Wall Street estimates.

Shares fell 2.7% in after-hours trading.

Revenue rose to $17.72 billion in the fourth quarter, from $10.74 billion a year earlier. Analysts had expected the electric vehicle maker to report revenue of $16.57 billion, according to IBES data from Refinitiv.

The world’s most valuable automaker last quarter delivered a record number of vehicles to customers despite supply chain difficulties.

“Our factories have been operating below capacity for several quarters as supply chain has become a major limiting factor, which is likely to continue into 2022,” Tesla said in a statement.

Tesla said Wednesday that its new factory in Austin has begun production Model Y late last year, said it plans to start shipping to customers after final certification, without detailing a timeframe.

They said they aim to maximize output from the California plant in excess of 600,000 vehicles per year.

Tesla has proven better than most automakers at managing supply chain issues by using less scarce chips and rapidly rewriting software.

Tesla faces the challenge of scaling up production at two new factories this year with technological changes as well as the battery and other supply chain constraints cloud the outlook.

It faces increasing competition from rivals, who are set to launch a series of Electric Car, from more affordable models to electric pickups.



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