Tesla (NASDAQ: TSLA) reported record profits topped analysts’ expectations as demand for electric vehicles (EV) remained strong.
“Pull a rabbit out of the hat”
Tesla CEO Elon Musk sees production growing even more throughout the rest of 2022, despite supply shortages of key components such as semiconductors. Operations in the company’s Shanghai factory were also suspended due to Covid-19-related reasons.
Musk expects production to be “substantially higher in Q2 & Q3”, as it’s projected to grow to 1.5 million EVs in 2022 versus a little less than 1 million in 2021.