Tesla sees supply chain issues after record earnings
Tesla sped past Wall Street estimates for quarterly revenue, Wednesday, but warned supply chain issues could continue through this year.
Despite the challenges, Tesla handed over a record number of vehicles to customers in the last quarter.
Revenue rose to $17.72 billion in the fourth quarter, from $10.74 billion a year earlier.
The electric carmaker has not been as affected by a hampered supply chain as other auto competitors have…
But - in a statement Tesla said (quote) "Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022.”
Shares of Tesla fell in extended trading.
The company also said on Wednesday that its new factory in Austin has started production of Model Y late last year, with plans to start deliveries to customers after final certification.
It said it aims to maximize output from its California factory beyond 600,000 vehicles per year.
That goal comes as Tesla – the world's most valuable automaker – faces rising competition from rivals who are set to launch an array of electric cars, from more affordable models to electric pickups.
