On April 21, Tesla released its first quarter 2022 financial report, which has been profitable for 11 consecutive quarters. Tesla's total revenue in the first quarter reached $18.8 billion, an increase of 81% year-on-year. GAAP reported an operating profit of $3.6 billion, resulting in an operating margin of 19.2%. GAAP net income was $3.3 billion and non-GAAP net profit( excluding share-based expenses) was $3.7 billion.
Tesla said that the year-on-year increase in operating income was mainly affected by factors such as increased deliveries and lower bicycle costs. Especially in the first quarter, the Shanghai Gigafactory still provided strong production capacity. Although Tesla still faces challenges in global supply chain, logistics and transportation, labor and other production aspects, the commissioning of two new gigafactories in Berlin and Texas has also brought new vitality to Tesla's production line, further improving production capacity and accelerating global delivery speed.
In the first quarter of 2022, the Berlin Gigafactory, which started operations in March, will produce the Model Y in the initial production of vehicles equipped with non-structural batteries equipped with 2170 batteries, and will use structural battery packs with 4680 cells and non-structural battery packs for 2170 cells in the future.
The Texas Gigafactory, which went into operation in April, delivered the first cars equipped with 4680 self-developed batteries, one-piece die-cast front bodies and structural batteries, marking an important milestone in Tesla's efforts to increase production capacity. Later this year, the Texas Gigafactory is expected to produce the Model Y with structural battery packs from 4680 cells and non-structural battery packs from 2170 cells, after which Cyberruck will also start production at the plant.
The recurrence of the epidemic in Shanghai has also made Tesla's production and sales in the second quarter encounter greater challenges. Today, Tesla's Shanghai Gigafactory has withstood multiple pressures such as supply chain challenges and has resumed work and production after a short suspension of work.
Tesla said that at present, the production capacity of the Shanghai Super Factory is steadily climbing to ensure the supply of domestic and foreign products. Tesla's more than 100 parts manufacturers are gradually coordinating to resume work and production and smooth logistics. Many Tesla parts suppliers in Shanghai began to resume work, becoming the region with the largest proportion of Tesla supplier partners resuming work and production. Tesla suppliers located in Zhejiang, Jiangsu and other provinces are also actively linking under the guidance of the government, ensuring production, and opening up logistics to support Tesla vehicle manufacturing.
[Reporter] Gong Qianshu
【Author】 Gong Qianshu
【Source】 Southern Press Media Group South + client