tesla

The electric car maker has made more profit than ever.

(Photo: via REUTERS)

tesla it earned more in 2022 than ever before in a fiscal year, despite high inflation, economic concerns and supply chain woes. The Electric Car Group of Star Entrepreneurs Elon Musk increased profit by 128 percent over the previous year to $12.6 billion (11.5 billion euros), as tesla announced Wednesday after the US stock market closed. Revenue grew accordingly by 51 percent to $81.5 billion.

Tesla wants to “expand production as quickly as possible” in 2023 and continues to target 50 percent annual growth. Recently, the company’s price cuts had raised concerns among investors about a possible decline in demand.

In the last quarter, Tesla increased its net income by 59% to $3.7 billion, also setting a new record. Revenue rose 37 percent to $24.3 billion in the three months ending in December. The company thus exceeded the expectations of analysts.

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By yjawq

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