1355: 27 Jan 2022 | Tesla Roadmap Prioritises Model Y, Delays Cybertruck&Others - a podcast by EV News Daily

Show #1355

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Good morning, good afternoon and good evening wherever you are in the world, welcome to EV News Daily for Thursday 27th January. It’s Martyn Lee here and I go through every EV story so you don't have to.

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- Tesla Inc.  late Wednesday reported quarterly profit and sales well above Wall Street expectations, but spooked investors by saying its factories have been running below capacity for several months due to to supply-chain snags likely to continue through the year.

- Sales rose 65% to $17.7 billion, from $10.7 billion a year ago.

- Musk assured investors that despite the “multiple supply-chain challenges” he expects “significant growth” for Tesla in 2022, and “comfortably” above 50% from 2021.

- In a letter to investors accompanying results, Tesla said that its factories “have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through 2022.”

- Tesla’s full-year GAAP profit rose to $5.5 billion from $721 million in 2020, while 2021 sales rose 71% to $53.8 billion, from $31.5 billion in 2020. Tesla said it ended the fourth quarter with $2.8 billion in free cash flow.  

                    

- Total debt excluding vehicle and energy-product financing fell to $1.4 billion at the end of the year

- Tesla kept its official guidance of 50% average annual sales growth.

· Original Source: https://www.marketwatch.com/story/tesla-reports-2-billion-q4-profit-sales-up-65-but-stock-falls-11643231962

"We still expect to be partly or primarily chip limited this year," Musk said during a conference call, saying that chip limitations should be alleviated next year.

Tesla said its Texas factory will this quarter deliver its first vehicles equipped with its next-generation 4680 batteries made in California as planned.

The number of full self-driving beta vehicles in the United States increased to nearly 60,000, up from a few thousand at the end of September. Tesla has been testing the improved version of its automated driving software on public roads, but it has said the features do not make the cars autonomous.

Quarterly profits took a $340 million hit from payroll taxes related to Musk exercising options related to his 2012 compensation package.The profits also reflected rising raw material, commodity and logistics costs and expenses related to warranties and recalls. Tesla is recalling more than 475,000 of its Model 3 and Model S electric cars to address rearview camera and trunk issues that increase the risk of crashing.

· Original Source: https://www.reuters.com/business/autos-transportation/tesla-beats-revenue-estimates-record-deliveries-2022-01-26/

Tesla started to produce vehicles at its $1.1 billion Travis County manufacturing facility late last year

"Builds of Model Ys started in late 2021 at Gigafactory Texas. After final certification of Austin-made Model Y, we plan to start deliveries to customers," the company said in its fourth-quarter earnings report.

"The pace of production ramps in Austin and Berlin will be influenced by the successful introduction of many new product and manufacturing technologies in new locations, ongoing supply-chain related challenges and regional permitting. We are making progress on the industrialization of Cybertruck, which is currently planned for Austin production subsequent to Model Y," Tesla said in a note to investors.

Musk said Model Ys being built in Texas currently are made with a structural battery pack and that deliveries wll start after final certification, which he predicted would be “fairly soon.”

· Original Source: https://eu.statesman.com/story/business/2022/01/26/tesla-austin-factory-begins-model-y-production-elon-musk-gigafactory-texas/6635563001/

Tesla released an update regarding the Tesla Giga Berlin-Brandenburg plant in Grünheide near Berlin, Germany. The company has been testing the production equipment since late 2021 and is waiting for final approval to start series production of the Tesla Model Y.

"Equipment testing through the vehicle production process started late 2021. We are still in the process of finalizing the manufacturing permit from local authorities, which will allow us to start delivering German-made vehicles in Europe."

"These first vehicles will be built using 2170 cells."

Tesla is expected to receive final approval for the plant soon, so production and customer deliveries could start by the end of this quarter. However, those are rumors and there is no guarantee that the process will not extend further.

· Original Source: https://insideevs.com/news/563431/tesla-giga-berlin-start-2170cells/

· Original Source: https://www.caranddriver.com/news/a38902936/teslas-elon-musk-future/

· Original Source: https://www.cnet.com/roadshow/news/tesla-not-working-on-25k-car-elon-musk/

ELON MUSK CONFIRMS TESLA CYBERTRUCK DELAYED, WILL "HOPEFULLY" ARRIVE IN 2023



· Original Source: https://driveteslacanada.ca/cybertruck/elon-musk-confirms-tesla-cybertruck-delayed-will-hopefully-arrive-in-2023/

Original Source: https://buffalonews.com/business/local/teslas-solar-business-remains-flat-as-progress-on-roofs-is-slow/article_bf73183c-7eed-11ec-8fdf-f3ca32e38914.html

· Original Source: https://www.teslarati.com/tesla-full-self-driving-completed-2022-elon-musk

· Original Source: https://www.bloomberg.com/news/articles/2022-01-26/musk-sees-human-robot-becoming-bigger-than-tesla-s-car-business-kyw5i39x

· Original Source: https://europe.autonews.com/sales-market/tesla-model-3-tops-renault-zoe-europes-best-selling-ev-vw-golf-slows-still-no-1

· Original Source: https://www.cnet.com/roadshow/news/chevy-bolt-ev-euv-gm-end-production/

· Original Source: https://www.benzinga.com/news/22/01/25250851/rivian-ramping-up-production-after-near-weeklong-pause-for-fixes-improvements-report

· Original Source:  https://www.foxbusiness.com/politics/ford-ceo-on-white-house-mtg-ev-tax-credits

· Original Source: https://techcrunch.com/2022/01/25/ford-starts-production-of-its-new-all-electric-e-transit-cargo-van/

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