Tesla released his results for the first quarter of 2021 amid much controversy on April 27th. According to the financial report, the company's total revenue in the first quarter was $10.389 billion, up 74% from a year earlier. (generally accepted accounting principles) net profit was $438 million, up 2638% from a year earlier; non-GAAP* net profit (excluding share payments) exceeded $1 billion for the first time to $1.052 billion. These figures mean that Tesla has made a profit for seven consecutive quarters, and his net profit has also set a new quarterly record.
Of the $10 billion in revenue, Tesla's auto business generated $9.002 billion in revenue in the first quarter, up 75% from a year earlier. According to the financial report, Tesla produced 180338 vehicles and delivered 184877 vehicles worldwide in the first quarter, with both production and delivery reaching a company record. Of this total, Model 3 and Model Y delivered 182780 vehicles, accounting for 98.9% of the total. 2020 vehicles were delivered by Tencent Model S and Model X.
At the same time, Tesla also said that the production of Model Y, the company's Shanghai super factory, is making good progress; the first delivery of the new Model S is expected to start soon; in the Chinese market, Tesla recently increased the proportion of local parts procurement to more than 90%, and car exports to Europe and the Asia-Pacific region continue to advance as planned.
Battery Network noted that in the first quarter, Tesla spent US $1.621 billion on research and development and other important investments, and the number of super charging piles exceeded 24000 worldwide. Up to now, Tesla has built 790 + super charging stations, 6200 + super charging piles and 1700 + destination charging piles in mainland China, covering 310 + cities in China, and has opened 190 + experience shops and service centers.
Tesla said the company had enough cash liquidity to fund product roadmaps, long-term capacity expansion plans and other project expenditures. Currently, Model Y capacity is being built in superfactories in Berlin and Texas, and production and delivery will start as planned in 2021; the Shanghai super factory will continue to expand; and Tesla Semi semi-trailer delivery will also begin in 2021. Tesla predicts that the company's vehicle delivery will grow at an average annual rate of 50 per cent in the next few years.
