Tesla notches a record $1.6 billion quarterly net as it readies global production push
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“We were also able to achieve an annualized production run rate of over 1 million cars toward the end of the quarter. That increase in production rate has primarily been driven by further ramping of the Model Y at our Shanghai factory,” Tesla CFO Zack Kirkhorn said during an earnings call. Still, “due to part shortages and logistics variability we have not been able to run our factories at full capacity.
Tesla's new plant near Austin, Texas, is to start producing electric vehicles in the next few months.“We believe the current supply chain issues have taken roughly 40,000 cars off the annual numbers for Tesla,” Dan Ives, an equity analyst with Wedbush Securities, said in a research note. “Despite this dynamic Musk & Co. should near the 900,000 mark for 2021 with a 1.3 million to 1.4 million unit bogey for 2022.
Still, during the quarter Tesla said it “saw a continuation of global supply chain, transportation and other manufacturing challenges. We continue to run our production lines as close to full capacity as conditions allow.”
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