Tesla delivered 940,000 vehicles last year, and CEO Elon Musk says it will be fully autonomous this year

2022-05-12 0 By

Recently, Tesla Motors announced the company’s fiscal 2021 fourth quarter and full year financial results.Tesla’s core automotive business reported revenue of 15.967 billion yuan in the fourth quarter of last year, up 71% year on year, with a gross margin of 29.2%, another record high.Quarterly electric vehicle deliveries in the fourth quarter were 308,650 units, up 71% from a year earlier.Deliveries for the full year were 936,172 units, up 87 percent year on year.Its key financial indicators all exceeded market expectations.Revenue rose 65% year-over-year to $17.72 billion, beating consensus estimates of $16.57 billion.Net profit rose about 760% year on year to $2.321 billion, beating consensus estimates of $1.926 billion.Notably, Tesla CEO Elon Musk said on a conference call after the earnings release that Tesla is producing Model Y with 4680 batteries at its Austin plant and that deliveries of the first vehicles with the 4680 structural battery pack should begin in the near future, perhaps by the end of this quarter.Tesla said it plans to ramp up capacity as quickly as possible, not only from its new plants in Austin and Berlin, but also from existing plants in Fremont and Shanghai.”We believe the market competitiveness of electric vehicles will be determined by their overall supply chain and production ramp up capability.”Tesla said.Musk also said that he is also looking for new factory locations and expects deliveries to easily increase to more than 50% by 2022. Musk also expressed confidence in the conference call that “autonomous driving will be achieved this year.”Beyond the car business, the Optimus humanoid robot is tesla’s most important job this year.Optimus, also known as Tesla Robotics, will use the same artificial intelligence systems used in driver-assistance technologies such as Tesla Autopilot, Tesla said.In addition, Tesla said that fully autonomous driving capability (FSD) software remains one of tesla’s key areas of focus.Over time, software revenue will contribute more to overall earnings.