A very solid quarter for Tesla, especially given the supply chain issues that are causing havoc for everyone, especially the chip shortage. Amongst the highlights:
- Production and delivery of over 200K vehicles (!)
- Over $1B in GAAP net income (!!)
- Tesla turned a profit even if you back out regulatory credits
A couple of other interesting tidbits covered in the earnings call:
- The chip shortage is impacting Tesla too, but they are able to adapt their software to help mitigate the impact
- Validation of the 4860 is completed at the pilot plant at Fremont, but it seem like scaling manufacturing is taking a bit longe than expected
- Crash testing of the 4860 in a structural pack was successfully completed
- Elon will no longer be regularly attending the quarterly earnings calls unless he as something specific he wants to discuss
