Tesla's Revenue Nearly Doubles in Latest Quarter, with Net Profit Surging 258%

Automotive Author: 马渭淞 Editor: 张宇喆 Jul 27, 2021 09:13 AM (GMT+8)

On July 27, Tesla released its financial report for the second quarter of 2021, showing an amazing performance.


Tesla has announced a revenue of USD 11.96 billion, up 98% year-on-year with a net profit of USD 1.62 billion, meaning an increase of 258% year-on-year. Its revenue increase is nearly ten times that of the same period last year, which was the first time its net profit exceeded USD 1 billion. Its automotive business contributed USD 10.21 billion to all the segments, with a gross profit margin of 28.4%.

Tesla delivered 201,300 vehicles in the second quarter, including 1,895 Model S/X and 199,400 Model 3/Y. Tesla expects deliveries will grow by more than 50% in 2021. 

In terms of factories, the company plans to carry out limited production of Model Y in Texas and Berlin later this year. Model Ys produced by Tesla's factories in Texas and Berlin may use up to 4680 batteries. However, Tesla added that, due to limited battery supply and challenges facing the global supply chain, the application might be postponed to 2022.

In addition, the Tesla Shanghai Super factory has become its main automobile export center. Although slightly affected by the supply chain and factory upgrading, the capacity of the Shanghai Super Factory is still strong. Owing to the strong demand in the US market and global cost optimization, Tesla has completed the transformation of the Shanghai Super factory.

On the day of the release of the financial report, Tesla's share price rose 2.21%; its current share price has reached USD 657.62 per share, with a total market value of USD 633.5 billion. It is worth noting that Musk said that, unless there is something very important to report, this will be his last time participating in Tesla's financial report teleconference.