On January 27, Tesla disclosed its financial results for the fourth quarter and full year of 2021. According to the data, Tesla has achieved profitability for 10 consecutive quarters, generating a net profit of $5.5 billion in 2021 and a net profit of $2.3 billion in the fourth quarter, an increase of 760% year-on-year, setting the highest quarterly operating margin for automakers.
In terms of vehicle deliveries, Tesla's full-year deliveries increased by 87%, achieving a new high of about 940,000 vehicles. It is worth noting that the Shanghai Gigafactory, as Tesla's main global export center, has been continuously increasing Tesla's production capacity and market size in China since its completion. For the whole of last year, the Shanghai Gigafactory delivered a total of 484,130 vehicles, an increase of 235% year-on-year, accounting for 51% of Tesla's total annual global deliveries, which is close to Tesla's global deliveries in 2020.
Exterior view of Tesla's Shanghai Gigafactory
Of the 484,130 vehicles delivered at Tesla's Shanghai Gigafactory, more than 160,000 were exported to more than 10 countries in Eurasia, including 130,000 Model 3; Model Y, as a model delivered in the Chinese market in 2021, exceeded 200,000 units in just one year, entering the first camp of luxury SUVs.
"We believe that the market competitiveness of electric vehicles will be determined by their overall supply chain and production ramp-up capabilities." Tesla said that in 2022, Tesla plans to increase production capacity as quickly as possible, including the capacity of existing factories such as Shanghai.
At present, Tesla has built a Shanghai Super Factory, a Shanghai Super Charging Pile Factory, a Shanghai R&D Innovation Center and a data center in Shanghai. At the same time, the localization rate of parts in Shanghai Gigafactory has exceeded 90%, and it is further improving.
"Chip shortages are likely to ease this year." Musk predicts that vehicle delivery is expected to grow at an average annual rate of 50% over the next few years. The specific growth rate depends mainly on the company's equipment capacity, operational efficiency, and the capacity and stability of the supply chain.