Tesla has delivered a better performance than expected in a year when the global auto industry has lost its core.
Tesla shares closed at $1,199.78, up 13.53%, giving the company a market cap of $1.2 trillion. Tesla had previously released figures showing it produced 930,000 vehicles and delivered 936,000 in 2021.
In the fourth quarter of 2021, Tesla produced more than 305,000 vehicles and delivered 308,000 vehicles, breaking quarterly delivery records for six consecutive quarters, according to the company's fourth-quarter and full-year delivery data.
Wall Street had expected Tesla to deliver around 900,000 vehicles in 2021.
Tesla says deliveries are a little more conservative because it only counts vehicles in delivery statistics after they have actually been delivered to the customer and all relevant documentation has been completed. Final delivery figures could vary by 0.5% or more.
Meanwhile, Tesla said deliveries are only a measure of the company's financial performance and should not be used as an indicator of quarterly financial results, which depend on a variety of factors, including cost of sales, foreign exchange flows and the percentage of directly leased vehicles.
Tesla is on track to deliver 1.3 million vehicles in 2022, despite supply chain issues, according to analysts cited by Reuters.
Musk has said Tesla relied on in-house software engineering expertise to keep its production lines running last year, quickly rewriting the software needed to integrate alternative chips into its vehicles, the Journal said. Tesla, which is more vertically integrated than many other carmakers, also benefits from supply chain visibility and supplier relationships.
Tesla CEO Elon & Middot; "The global Tesla team is doing a great job," Musk said on His Twitter account on Wednesday.
As Tesla's stock rose, So did Musk's. According to Forbes, Musk's personal wealth is estimated at $304.2 billion, putting him back above the $300 billion threshold. He is ahead of Bernard Middot, CEO of LVMH, at $103.6 billion. Mr Arnault.
Tesla will report its fourth-quarter earnings later this month, according to foreign media reports. At that point, if the company hits certain operating and valuation targets, Musk will receive millions more stock options that could add billions more to his fortune.
Tesla emerged as a big winner in the chip crisis in part because of its in-house software engineering expertise, which allowed it to adapt to the global semiconductor shortage better than many of its rivals, the Journal said. Chips are used in everything from motor control to mobile phone charging.
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