Connect with us

Hi, what are you looking for?

Photo courtesy of Tesla


Tesla’s Revenue Grew To Over $18 Billion In Q1 2022

Tesla reported its earnings for the first quarter of 2022, and as usual, Tesla beat the expectations of several analysts. Tesla’s automotive revenue reached $16.86 billion, which is up 87% from this time last year. Tesla also said that its growth was impacted by growth in vehicle deliveries, the increased average selling price (ASP), and growth in other parts of its business.

“Our operating income improved to $3.6B in Q1, resulting in a 19.2% operating margin. This profit level was reached while incurring SBC expense attributable to the 2018 CEO award of $48M in Q1.”

Tesla added that its operating income was primarily impacted by several factors, such as the previously mentioned ones along with the increase in operating expenses, rising costs in raw materials and commodities and logistics, and its lower stock-based compensation expense. Tesla also mentioned a reduced cost per vehicle despite inflationary pressures.

Tesla is still growing its manufacturing capacity and has recently opened two new factories — one in Germany and one in Texas. The company shared the following about its outlook:

“We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The rate of growth will depend on our equipment capacity, operational efficiency and the capacity and stability of the supply chain. Our own factories have been running below capacity for several quarters as supply chain became the main limiting factor, which is likely to continue through the rest of 2022.”

Tesla added that it has sufficient liquidity to fund its product roadmap, long-term capacity expansion plans, as well as other expenses. Tesla expects an acceleration of its software-related profits to accompany its hardware-related profits while reducing the cost of manufacturing and operations over time. This, it noted, is happening as it continues innovating.

Tesla said that the pace of production ramps in Austin and Berlin will be influenced by the successful introduction of its new products as well as manufacturing technologies and ongoing supply chain–related challenges.

To read Tesla’s full Q1 2022 earnings report, click here.


Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

Johnna owns less than one share of $TSLA currently and supports Tesla's mission. She also gardens, collects interesting minerals and can be found on TikTok


You May Also Like


The next Tesla factory may be in Indonesia.


With multiple crises raging (chips, batteries, covid, Ukraine war…), disruption is the order of the day, and one can say that anything goes right...

Autonomous Vehicles

Tesla is having AI Day #2 in a few months. CEO Elon Musk announced that Tesla would hold a second AI Day on August...

Clean Transport

Tesla has opened its Supercharger network to five more countries in Europe. Last year, Tesla announced its Non-Tesla Supercharger pilot program, which allows EV...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.