Tesla profits surged despite shortages in semiconductor chips

Tesla profits have surged following the international pandemic, despite international shortages in semiconductor chips and congested ports hampering production.

$12bn (£8.6bn) is the sales growth in just three months to the end of June this year.

That’s up from 6 billion a year ago when the US factory was shut down.

Tesla has delivered a record 200,000 cars to customers within the same. As last year.

A major driver for this massive growth has been public interest in economical transportation.

The Model 3 saloon has played a major role in the companies mass market appeal, despite Tesla having withdrawn company spending.

Tesla updated investors on Monday by saying,“Public sentiment and support for electric vehicles seems to be at a never-before-seen inflection point.

“We continue to work hard to drive down costs and increase our rate of production to make electric vehicles accessible to as many people as possible.”

They went on to mention how quick they could produce vehicles throughout the rest of the year, depending entirely on the supply of parts.

Elon Musk said in a call with financial analysts on Monday, “At this point, I think everyone can agree, electric vehicles are the only way forward.”

The meeting continued and Elon Musk went on to say that the chips shortage was quite serious, and his entire manufacturing would hinge on it.

Delays in chips have led to extended waiting times clear vehicles, particularly in Europe.

The gigafactory in Berlin you seem to be as a possible saviour to the Tesla brand in Europe.

This new factory will become “the most advanced high-volume electric vehicle production plant in the world”.

Semiconductor shortage has become a well known phenomenon following the worldwide pandemic causing many vehicle manufacturers to worry.

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