Source of this article: Times Finance Author: Lin Qian
On January 27, Beijing time, Tesla (TSLA.NASDAQ) released its fourth quarter 2021 financial report, and a number of financial indicators performed strongly.
According to the report, Tesla's Q4 revenue was $17.72 billion, an increase of 65% year-on-year, of which the total revenue of Tesla's automotive business in the quarter was $15.967 billion. Meanwhile, Tesla's Q4 net profit increased by about 760% year-on-year to $2.321 billion; gross margin was 27.4%, compared to 26.6% in the previous quarter; earnings per share were $2.05, compared to $0.24 in the same period last year.
Source | pexels.com
From the full year's data, Tesla's total revenue in fiscal 2021 was about $53.7 billion, an increase of 71% year-on-year; net profit was $5.519 billion (about 34.76 billion yuan, close to 100 million yuan in one day), and in the same period of 2020, it was $721 million, an increase of 665% year-on-year. In other words, this is also the second consecutive year that Tesla has achieved profitability.
Pierre Ferragu, an analyst at New Street Research, recently reiterated his "buy" rating for Tesla, saying, "We expect vehicle revenue to exceed $80 billion this year (2022) and revise our expectations for the next few years by more than 40 percent, and there may be more after 2022, as we cautiously predict sales growth of 34 percent and 29 percent in 2023 and 2024, well below the company's 50 percent. Target".
In terms of product planning, Tesla CEO Musk revealed on a conference call that Tesla is producing a Model Y equipped with 4680 batteries at its Austin factory, and the first batch of 4680 battery cars will be delivered this quarter. "There will be no new models this year, and there is no push to develop a $25,000 electric vehicle right now. The CYBERRUCK, electric truck Semi and ROADSTER sports cars are ready to be launched next year. ”
Tesla said it expects an average annual growth rate of 50 percent in vehicle deliveries over the next few years. Have sufficient funds to support the company's product roadmap as well as long-term capacity expansion plans and other expenses, and plan to increase production capacity as soon as possible. According to the earnings report, as of the end of the fourth quarter, Tesla cash and cash equivalents were $17.58 billion.
"Deliveries are expected to easily grow to more than 50 percent in 2022." Musk said that this can be achieved with the Fremont and Shanghai factories alone.
Musk's good outlook for Tesla in 2022 builds on Tesla's momentum in 2021. According to the financial report, Tesla produced a total of 930,400 cars in 2021, an increase of 83% over the same period in 2020. Among them, the Model 3 and Model Y totaled 906,000 units, and the Model S and Model X totaled 24,390 units. In 2021, Tesla delivered a total of 936,000 vehicles, an increase of 87% year-on-year. Model 3 and Model Y delivered a total of 911,200 units, and Model S and Model X delivered a total of 24,980 units.
Although the production and sales data has grown by leaps and bounds compared to the same period in 2020, Tesla still said, "As the supply chain has become a major constraint, our factories have been below capacity for several consecutive quarters, and this situation is likely to continue in 2022." ”
Source | Tesla earnings
For the chip crisis encountered by the global automotive industry, Fed Chairman Powell also pointed out recently, "The semiconductor problem will continue until after 2023, and it will not be said that the supply chain problem will be solved before the end of the year, in general, there is no progress in the supply chain problem, and I hope to see the progress of the problem solving in the second half of the year." ”
Tesla believes that the competitiveness of the electric vehicle market will depend on the ability to increase capacity in the supply chain and the ability to increase production. Its future goal is to increase production as soon as possible, not only through new plants in Austin and Berlin, but also to maximize production at existing plants in Fremont and Shanghai.
Times Finance previously learned from Tesla China that in 2021, the annual delivery volume of Tesla's Shanghai Gigafactory was 484,130 units, an increase of 235% year-on-year. In Tesla's annual delivery report card, Tesla China alone accounted for 51.7%, accounting for "half of the country".
Previously, due to the slow progress of Tesla's Berlin factory, Tesla's Shanghai factory, which was originally planned to radiate overseas markets such as Japan, South Korea and Southeast Asia, had to bear the pressure of supplying to Markets such as Europe. The industry expects that with the completion of the Construction of the Berlin factory, the pressure on the Shanghai factory will continue to decrease, and Tesla's market potential will be further released.
According to media reports recently, Tesla has informed German employees that the Model Y produced in the Berlin Gigafactory is ready for order and will be delivered in March. At the same time, there is also an email showing that Tesla people said that the Model Y has begun production at the Berlin Gigafactory.
"Last quarter, a lot of cars were produced at the Plants in Texas and Berlin." Musk also said on the conference call. However, Tesla said on January 27 that "the approval of the production license in brandenburg, Germany, is still in progress."
"Information on the location of the new plant may be announced in 2022." Musk also revealed. It is worth mentioning that previously, the news that Tesla will build a super factory in Qingdao, China, was boiling over, but Tao Lin, tesla's vice president of external affairs, later denied that "the information on the Internet about the location of Tesla's second factory is not true."
As of press time, Tesla's U.S. stocks rose 2.07% after hours at $937.4 per share. According to Forbes real-time rich list data, Musk is worth $242.8 billion, far behind the second place.