Tesla constructed 305,000 automobiles within the first quarter of this yr, delivered 310,000 of them, posted $3.3 billion in internet revenue, and opened two new factories — in Berlin and Austin — all whereas CEO Elon Musk sought a extremely publicized hostile takeover of Twitter.

Tesla’s current manufacturing facility investments, in addition to efforts to shore up its battery part provide chain, are a part of the corporate’s localization technique, which seeks to lower production costs by constructing automobiles nearer to the markets they will finally be offered in. But like the remainder of the automotive trade, Tesla faces an more and more tight provide of essential semiconductors and rising costs spurred by inflation itself introduced on by Russia’s invasion of Ukraine. It is also at the moment navigating the shuttering of its Gigafactory in Shanghai, which closed because of COVID outbreaks within the area. Work on the manufacturing facility has solely partially resumed in current days.

At the opening of the Austin Gigafactory earlier this month, Musk confirmed that the long-awaited Cybertruck would lastly be happening sale in 2023 and {that a} broad beta of its Full Self-Driving know-how can be rolling out all through North America this yr. Q1 2022 additionally noticed value will increase throughout Tesla’s mannequin lineup and the elimination of free of charge cellular charging tools.

Tesla will maintain its quarterly investor teleconference at 5:30pm ET right now, keep tuned for updates from that decision together with no matter enjoyable tidbits fall out of Elon’s head throughout it.

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