Tesla reports more than $18.7 billion in revenue in Q1
Tesla destroyed investor forecasts with its latest revenue reports, making $18.76 billion in the first quarter of 2022.
However, the automotive industry might no longer be Tesla’s lead calling.
Instead, Tesla CEO Elon Musk anticipates humanoid robots being more profitable than electric vehicles in the next few years.
The Optimus Tesla robot is your real-life See-Threepio designed to do human tasks.
Whether it will be more profitable than Tesla’s automotive industry in the near future is rather unlikely.
That’s because Tesla made $16.86 billion (this is all in US dollars) through car sales alone this quarter.
The adjusted profit is a just under $4 billion.
Shares in Tesla were up by 12 per cent after yesterday’s profit announcement.
It blew Wall Street’s predictions out of the water, leaving some investors “speechless.”
Tesla delivered over 310,000 vehicles during the quarter. The Model 3 and Model Y accounted for 95 per cent of those sales.
Last month, New Zealand had 949 Tesla Model 3s registered on our shores. With the Clean Car Discount now in full effect, the Motor Industry Association expects that number to climb when April’s data is released.
Production hasn’t reached its maximum due to the global pandemic and parts shortage. However, Musk expects Tesla to produce “one and a half million cars this year.”
He added customers placing orders now will have to wait until next year to receive their purchase.
As for the self-driving features of future Tesla, Musk says the technology is taking longer to develop than most expected.
“With respect to full-self driving, of any technology development I’ve ever been involved in, I’ve never really seen more kind of false dawns where it seems like we’re going to break through but we don’t.”
