On April 21, Tesla released its first quarter 2022 financial report. According to the financial report, Tesla's total revenue in the first quarter was $18.756 billion, an increase of 81% year-on-year; net profit was $3.318 billion, an increase of 658% year-on-year; the gross profit margin of the company's automotive business in the first quarter was 32.9%, and the outstanding recoverable debt has fallen to less than $100 million.
Tesla stressed in the earnings report that expanding production capacity is the core of the company's decision-making. In the past two months, the company has started deliveries of the Model Y from the Texas Gigafactory and the Berlin-Brandenburg Gigafactory. At the same time, a lot of energy has been invested in the production of independent batteries, raw material procurement and supplier diversification.
Image source: Tesla official
At the same time, supply chain challenges persist. In addition to the impact of chip shortages, the recent pandemic has also put pressure on the company's supply chain and factory operations, and the prices of some raw materials have risen several times in recent months, which has prompted Tesla to adjust its pricing. Tesla CEO Elon Musk said that the price of some auto parts increased by 20%-30% year-on-year.
Musk also said that the company is developing a customized Robotaxi self-driving taxi, hoping to achieve mass production of Robotaxi in 2024, which will become a huge driving force for Tesla's growth.