2022 was a big year for Tesla, with the automaker surpassing some key milestones despite a bear market. Tesla enters 2023 with a new and significantly increased manufacturing output, growing charging infrastructure and energy sector, and solid financials to underpin these milestones.
Gigafactory progress
Tesla opened two new factories this year: one in Austin, Texas, where it is now headquartered, and the other in Grünheide, Germany, in the state of Brandenburg. Since opening, both gigafactories have gradually ramped up production throughout the year, each hitting production capacity milestones of 3,000 Model Y units built per week in December.
Additionally, Tesla is aiming to produce 75,000 units of the Model Y in Giga Texas in the first quarter of 2023 before the automaker plans to start production of the Cybertruck, which is currently slated for July.
Tesla also expanded its Model Y production lines at Gigafactory Shanghai by about 30 percent, targeting annual production of about 1.2 million vehicles. The automaker built its one millionth vehicle at its Shanghai plant in August, just weeks after the modernization was completed.
Superchargers continue to evolve
Image courtesy of Tesla
About a year ago, Tesla had 30,000 Supercharger connections worldwide. As of June, the automaker had deployed an additional 5,000 charging stations before reaching 38,883 charging stations worldwide and 10 years of Supercharger deployment by the third quarter of the year.
Additionally, Tesla has opened up its Superchargers to non-Tesla vehicles in a new pilot program across Europe, and the automaker is expected to do so in the US soon.
Tesla Energy is growing
Tesla hit 500,000 solar panel and rooftop installations in December, despite supply chain constraints and a slow ramp-up period in production.
The company also unveiled its Virtual Power Plant program in early 2022 to create giant, distributed batteries from homes using powerwalls and solar energy. Tesla held its first Virtual Power Plant events in California, the most recent of which saw over 3,600 homes help bring power back to the grid.
Tesla has also set up a handful of its Megapack power storage locations around the world.
FSD Beta Expanded, Tesla Delivers Semi
Over the past few months, Tesla has gradually increased the number of users for its Full Self-Driving beta in the US. The expansion of the FSD beta into North American markets culminated in a wide release of the system to US public testers in November Everyone in the country who buys the system tests it.
Tesla also shipped its first Semis to PepsiCo last month.
Let’s also take a closer look at Tesla’s quarterly earnings and deliveries.
Q1 2022 sales and shipments
Tesla reported first-quarter revenue of $18.7 billion, up 81 percent year-on-year, net income of $3.3 billion and an operating margin of 19.2 percent. Tesla delivered 310,048 vehicles in the first quarter, up 67.7 percent year over year.
Q2 2022 sales and shipments
In the second quarter, Tesla reported revenue of $16.9 billion, up 42 percent year over year, with net income of $2.3 billion. The automaker delivered 254,695 vehicles in the quarter, up 23.4 percent year-on-year.
Q3 2022 sales and shipments
Tesla reported revenue of $21.4 billion in the third quarter, up 56 percent year over year. It had net income of $3.3 billion, up 103 percent year over year. Tesla delivered 343,830 vehicles in the third quarter, beating its previous single-quarter delivery record, up 42 percent year over year.
Q4 2022 sales and shipments
Tesla will release its fourth-quarter 2022 results sometime in January. Last year’s fourth quarter earnings conference call was held on January 26, 2022, during which Tesla reported sales of $17.71 billion, net income of $2.32 billion and 308,650 deliveries in the fourth quarter of 2021 reported. Throughout 2021, Tesla delivered 936,222 vehicles, and the company is expected to surpass one million vehicles delivered in a year in 2022.
Originally posted on EVANNEX. By Charles Morris.
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