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Tesla reports 46 pct increase in revenues in Q4

2021-01-28 13:51

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SAN FRANCISCO, Jan. 27 (Xinhua) -- The U.S. electric vehicle maker Tesla said Wednesday it earned 10.74 billion U.S. dollars in total revenues in the fourth quarter of fiscal 2020, up 46 percent over the previous year.

Tesla posted 903 million dollars in non-GAAP (generally accepted accounting principles) net income for the quarter that ended on Sept. 30, representing a 134-percent increase over the previous quarter.

Its cash and cash equivalents in the fourth quarter reached 19.4 billion dollars, up 209 percent year on year.

Its 2020 full-year revenues amounted to 31.54 billion dollars, up 28 percent compared with the year 2019.

Tesla's 2020 total gross profit counted 6.63 billion dollars, up 63 percent from the previous year.

The company delivered over 180,000 vehicles in the fourth quarter of 2020, a 61-percent increase year on year. In 2020, Tesla produced and delivered half a million vehicles.

"We ramped Model 3 in China to over 5,000 cars per week and started production of Model Y at Gigafactory Shanghai less than a year after breaking ground on the expansion," the company highlighted.

The gigafactory in China's Shanghai is Tesla's first plant outside the United States. It officially delivered the first batch of made-in-China Model 3 sedans to the public earlier in 2020.

Tesla recently started shipping Model 3 vehicles from Gigafactory Shanghai to several European and Asia-Pacific countries and regions, the company said.
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