Tesla makes real profit for the first time

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Tesla presented the most recent quarterly figures yesterday (pdf link). It was immediately apparent that the manufacturer of electric cars actually made a profit for the first time in its existence. Tesla has already achieved positive results in the past eight quarters, but this was mainly thanks to Bitcoin and the sale of emission rights. The past quarter was also the first time that real profits were made on the sale of cars.

Now a really profitable car manufacturer

In Q2 of 2021, Tesla reported a positive result of $1.1 billion. Sales reached $11.9 billion, a new record for the manufacturer. More than $760 million of the profit came from the sale of Teslas. In addition, the manufacturer earned more than 350 million dollars from the sale of emission rights. The plummeting price of Bitcoin still took 23 million dollars from the positive result.

Until now, Tesla could only offset the loss made on the production and sale of electric cars by “trading” Bitcoins and selling emission rights (for CO2 emissions) to other car manufacturers. The fact that the manufacturer’s EV division is now also reporting green figures is a special milestone. It proves that an automaker that doesn’t make and sell models with combustion engines can actually be viable.

Model Y and 3 are Tesla’s profit packers

The Model Y and 3 have been the best-selling Tesla models for a while. More than 200,000 units of these two models were delivered in the second quarter. Only 1,895 of the Tesla of the first hour, the Model S, were sold in this quarter.

During the presentation of the quarterly figures, Tesla also gave an update on the development of the new battery for EVs, the so-called 4680 battery. The manufacturer stated that substantial progress has been made in this area, but that there is still a lot of work to be done before this battery can really be taken into production in large numbers.

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