Electric car maker: Tesla achieves record profit of 12.6 billion dollars in 2022

Despite high inflation, economic concerns and supply chain problems, Tesla earned more in 2022 than ever before in a fiscal year.

Electric car maker: Tesla achieves record profit of 12.6 billion dollars in 2022

Despite high inflation, economic concerns and supply chain problems, Tesla earned more in 2022 than ever before in a fiscal year. The electric car group from star entrepreneur Elon Musk increased its profit by 128 percent compared to the previous year to 12.6 billion dollars (11.5 billion euros), as Tesla announced after the US stock market closed. The proceeds grew accordingly by 51 percent to 81.5 billion dollars.

Tesla wants to "expand production as quickly as possible" in 2023 and is still targeting annual growth of 50 percent. Recently, the company's price cuts had raised concerns among investors about a possible dwindling demand.

In the final quarter, Tesla increased net income by 59 percent to $3.7 billion, also setting a new record. Revenue increased 37 percent to $24.3 billion in the three months ended December. The company thus exceeded analysts' expectations. Despite the record figures, Tesla had a difficult time on the stock exchange last year. The share price collapsed by around 65 percent in 2022. Elon Musk's escapades surrounding the controversial takeover of the online platform Twitter and his Tesla share sales to finance the around $44 billion deal were badly received by investors.

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