Tesla Q1 2022 update on production, deliveries, profit

21 April 2022, 02:25:27

The first quarter of 2022 was another record quarter for Tesla by several measures such as revenues, vehicle deliveries, operating profit, and an operating margin of over 19%. In terms of revenues, automotive ones for Tesla have increased by 87% YoY to $16.861 billion with automotive gross profit increasing by 132% YoY. The operating income improved to $3.6B in Q1, resulting in a 19.2% operating margin. In Q1 of 2022, Tesla produced 14,218 and delivered 14,724 Model S/X units. For the same period, the company has produced 291,189 Model 3/Y units, which is a 61% YoY growth. It has also delivered 295,324 Model 3/Y units, which is a 62% YoY growth.

In April 2022, Tesla began Model Y deliveries from our new factory in Austin, Texas. At the Cyber Rodeo opening party, we delivered the first vehicles with 4680 in-house-made cells, single-piece front body castings, and structural battery packs. This is an important milestone for the company's capacity growth efforts. Later this year, Gigafactory Texas is expected to be able to produce Model Ys using both structural packs with 4680 cells as well as non-structural packs with 2170 cells. Tesla is also making progress on the industrialization of the Cybertruck, which is currently planned for Austin production subsequent to the Model Y ramp.

Production at Gigafactory Berlin-Brandenburg started in March 2022, using non-structural packs with 2170 cells for the start of production. Ultimately, Gigafactory Berlin-Brandenburg will be able to produce Model Ys using both structural packs with 4680 cells as well as non-structural packs with 2170 cells.

While weekly production rates were strong in Q1, a spike in COVID-19 cases in Shanghai resulted in the temporary shutdown of the factory as well as parts of the supply chain. Limited production has recently restarted.

Nearly half of Tesla vehicles produced in Q1 have been equipped with a lithium iron phosphate (LFP) battery, containing no nickel or cobalt. Currently, LFP batteries are used in most of Tesla's standard range vehicle products, as well as commercial energy storage applications. As a result of the energy-efficient motors, a Model 3 with an LFP battery pack can still achieve a 267-mile EPA range.

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