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Tesla closes a record 2021 but increases the pressure of the competition

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The bottlenecks in component supply chains they haven’t stopped Tesla in 2021. The Californian manufacturer of electric cars, led by the founder Elon Muskhas filed a record 2021: lnet profit rose to 5.5 billion dollars on revenues of 53.8 billion, a marked increase compared to last year when sales stood at 31.5 billion and profits at 721 million.

Positive too the fourth quarter, which closed significantly above analysts’ expectations. Between October and December, profits stood at 2.32 billion, up by as much as 760%, and equal to $ 2.54 per share. The turnover, with a growth of 65%, was 17.72 billion, 15.97 billion in the automotive sector where the march was 71%, well above market estimates.

Despite the accounts beyond forecasts, Wall Street has punished Tesla stocks which, in the After Hours quotations, have come to lose 6%.

GM challenges Tesla in the US after record 2021

There are two main reasons behind the profit taking. The electric car giant pays off for noting how problems with supply chains could slow production in 2022. In the conference call on the results, Musk indicated that, particularly in the face of the lack of chips that now plague the auto and tech sector , Tesla will not introduce new models this year and that its pickup, initially hypothesized as early as the end of 2022, will also have to wait.

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Not only. Investors are also worried there‘increased competition, with the huge investments in electricity by ‘traditional’ car manufacturers.

Among these the US giant General Motors which in the last few hours has declared war on Tesla, announcing that it will overtake the Californian group as the best-selling electric car brand in the United States by the middle of the decade. To achieve the goal, the American car group announced a 6.6 billion dollar maxi-investment in Michigan in the next few years for increase the production of electric pickups to one million vehicles by 2025 and to build a new battery plant for electric vehicles. The announced investments are part of the $ 35 billion GM has pledged to spend on electric vehicles by 2025.

“We will have the products, battery cells and vehicle assembly capability to be the leader in electric vehicles by the middle of the decade,” said Mary Barra, CEO of General Motors.

Tesla, which does not specifically release US sales figures, delivered 936,172 electric vehicles globally in 2021. GM sold fewer than 25,000 electric vehicles last year, ranking third in the US behind Tesla and Ford. .

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Looking ahead, analysts estimate Tesla could deliver 1.5 million vehicles this year, in line with its goal of increasing deliveries by 50% per year over an extended period. A target in which the new plants in Germany and Texas play a crucial role.

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