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HomeTech NewsTesla Reaches Record Quarterly Profits, Revenue Soars 74%

Tesla Reaches Record Quarterly Profits, Revenue Soars 74%

Tesla reported on work in the first quarter of this year: impressive growth was recorded in key indicators. Meanwhile, the head of the company Elon Musk has revealed the timing of the start of deliveries of new versions of the flagship electric vehicles Model S and Model X.

Revenue for the reporting period reached $ 10.39 billion, which is an impressive 74% increase compared to the result for the first quarter of last year when this figure was $ 5.99 billion.

Net income was $ 438 million, or 39 cents per share – a record result for the first quarter. For comparison: a year earlier, Tesla earned $ 16 million, or 2 cents per share.

Within three months, the company delivered about 184 thousand Model 3 and Model Y electric vehicles. At the same time, more expensive Model S and Model X cars were not produced during this period – their deliveries amounted to 2,020 units from stock.

According to Mr. Musk, Tesla will begin shipping a new version of the Model S sedan in May, while deliveries of the updated Model X crossover are planned to be organized in the third quarter.

Tesla intends to bring the weekly production of Model S and Model X to 2,000 units this year. Overall, the company expects that electric vehicle delivery this year will increase by more than 50% compared to 2020. This means that shipments by the end of the current year will amount to at least 750 thousand pieces.

Tesla

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