Tesla reports record revenue and beats on earnings
Tesla also revealed that the Cybertruck is on track to begin production later this year, and that its next-gen platform is under development, with more details coming at its investor day on March 1. As for Cybertruck, Musk noted "Cybertruck will not be a significant contributor to the bottom line, but it will be next year." Musk clarified that Cybertruck production would begin this summer, but volume production would be coming in 2024.
Tesla CEO says demand is double production rate as price cuts trigger interest
Analysts had said Tesla’s profitability gave it room to cut prices and pressure rivals. The company’s US$9,000 in net profit per vehicle in the past quarter was more than seven times the comparable figure for Toyota Motor Corp. in the third quarter. But it was down from almost US$9,700 in the third quarter.
The company is relying on older products but Tesla said its Cybertruck, its next new electric pickup truck, would begin production at its Texas factory later this year. It said it would detail plans for a “next-generation vehicle platform” at its investor day in March.
Analysis: Tesla uses its profits as a weapon in an EV price war
Edited by Victoria Watcher, 25 January 2023 - 04:17 PM.