Despite chip problems, Tesla nearly doubled revenue in the first quarter ICT Business | TechBuzz

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Tesla produced 305,000 vehicles in the first quarter of this year, delivered 310,000 and opened new factories in Berlin and Austin, which are exceptional results as the company described the first three months of 2022 as extremely difficult. In addition, the focus of CEO Elon Musk has been rather focused on taking over Twitter for $ 44 billion.

Recent investments in production facilities, as well as efforts to strengthen the supply chain of battery components, are part of the company’s localization strategy, which seeks to reduce production costs by building vehicles closer to the markets where they will eventually be sold. But, like the rest of the car industry, Tesla is facing a dwindling supply of critical semiconductors and rising prices spurred by inflation itself caused by the Russian invasion of Ukraine. It is also currently managing the closure of the Gigafactory in Shanghai, which is out of order due to the outbreak of a new wave of coronavirus. Work on the factory has only partially resumed and this varies from week to week.

At the opening of the Gigafactory in Austin in early April, Musk confirmed that the long-awaited Cybertruck will finally go on sale in 2023 and that a beta version of its Full Self-Driving technology will be available across North America this year. However, both the Cybertruck and the upcoming Roadster are still listed as “in development” as opposed to “in production” as stated for the X / S and 3 / Y models.

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“We remain on the right track to get to cybertruck production next year,” Musk assured investors and reporters.

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In the first quarter of 2022, there was also an increase in prices in all Tesla models and the elimination of free equipment for charging mobile devices. In total, the company generated $ 3.3 billion in net profit compared to $ 438 million last year.

Looking ahead, Musk is optimistic in terms of this, but also the coming years.

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“I think we actually have a reasonable chance of a 60 percent increase over last year,” he said, referring to the Robotaxi prototype:

“It’s very optimized for autonomy, which means it won’t have a steering wheel or pedals, and a number of other innovations that I think are quite exciting.”

Robotaxi could start mass production as early as 2024.

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I am admin of techbuzz.asia blog & I provide tech-related news. As a part of my hobby, I make content related to technology and gadgets reviews too. I love to be a content creator apart from it, I am a full-time employee in an MNC company and manage blogs systematically. You can mail me at [email protected]

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