Tesla made a profit of $279 million from selling carbon credits in the third quarter, helping the profit exceed $1 billion for the second consecutive quarter


Tencent technology news on October 21, Tesla’s financial report released on Wednesday showed that the company’s net profit in the third quarter reached US $1.618 billion, an increase of 389% compared with us $331 million in the same period last year, with a net profit of more than US $1 billion for the second consecutive quarter.
Tesla’s earnings show that part of the company’s profits come from selling carbon credits to carmakers, who need carbon credits to meet emission standards. Tesla’s revenue from selling carbon credits in the third quarter was $279 million, compared with $397 million in the third quarter of 2020, a year-on-year increase. Tesla’s revenue from selling carbon credits can be converted into profits.
As the sales of model y in the United States, China and Europe continued to grow, Tesla’s revenue increased significantly in the third quarter, from $8.8 billion a year ago to $13.8 billion. The company delivered 241000 electric vehicles to customers in the quarter, up from 140000 a year ago. The company said in a statement that the demand for electric vehicles “continues to experience structural changes. We believe that the more Tesla electric vehicles on the road, the more Tesla owners can spread the benefits of electric vehicles.”
Tesla reiterated its previous forecast that sales will increase by an average of about 50% per year in the next few years, but warned that “semiconductor shortage, port congestion and power rationing have been affecting its ability to keep the plant running at full speed.” the company said it expects to start production of model y at New plants near Berlin and Austin, Texas by the end of the year. Tesla said: “the speed of mass production of new factories will be affected by the successful introduction of new products and manufacturing technologies, continuous supply chain related challenges and regional licensing.”
An important shift is that Tesla said it will start using lithium iron phosphate batteries in all cars except remote cars. Such batteries, which are popular in China, tend to be cheaper because they do not use Cobalt, an expensive mineral mined mainly in the Democratic Republic of the Congo. Lithium iron phosphate batteries store less energy than the lithium-ion batteries Tesla uses in most cars.
Tesla’s strong earnings show that consumers are still actively buying Tesla electric vehicles despite the safety problems of the company’s automatic driving assistance system and the launch of electric vehicles and electric trucks by established carmakers. Tesla’s computerized system autopilot, which uses cameras and other sensors to drive, brake and speed up automatically, is currently the object of investigation by the national highway traffic safety administration, the highest federal vehicle safety regulator. The agency is investigating whether autopilot can’t see parked police cars and other flashing emergency vehicles. The agency has identified 12 accidents in which Tesla, operating in autopilot mode, hit an emergency vehicle.
Tesla recently sent a software update to electric vehicles equipped with autopilot to improve the detection ability of emergency vehicles. The national highway traffic safety administration asked Tesla to provide a lot of data about the repair and explain why the safety recall was not started before the update was released.
The agency has been criticized for its ineffective supervision of new technologies such as Autopilot and autopilot. On Tuesday, the Biden administration appointed Mary Cummings, an expert in automatic driving technology at Duke University, to a senior automotive safety position in the federal agency, suggesting that Tesla may now face stricter scrutiny. Cummings has been criticizing autopilot before, pointing out that the system can not effectively monitor drivers to ensure that they pay attention to the road. Elon Musk, chief executive of Tesla, tweeted on Tuesday that Cummings was “extremely biased” against Tesla.
Tesla doesn’t seem to have lost many customers because of its competitors. Ford began to sell the electric sports utility vehicle Mustang mach-e, but by model y standards, its sales are not much, because the global shortage of computer chips has interrupted the production of most carmakers. Rivian, a start-up considered a potential competitor of Tesla, has started producing electric pickups, but so far it has delivered only a small part to customers.
Porsche, a German carmaker under the Volkswagen Group, launched an impact on Tesla with its taycan electric sports car. In the first three quarters of this year, Porsche sold more than 28000 taycan with a starting price of about $82000. In contrast, Tesla sold 13000 model s and model X. (compiled by Tencent technology / Wuji)