Tesla Earnings (Q3 2021 Recap) - Path to 20M Annual Vehicle Production and More!
October 21, 2021
In the video discussion below, I provide a quick recap on Tesla's Q3 results. The company reported record profits, record vehicle production, and a war chest of cash on its balance sheet. Specifically, Tesla reported $1.6 billion in Q3 GAAP net income, a company record. Tesla is also closing in on a 1 million annual car production run rate, with plans to expand capacity by 50% per year going forward. Luckily, Tesla has a massive $16 billion war chest of cash on its balance sheet, which will help it rapidly expand its operations.
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However, the company is still early in its growth projections and has a path to nearly 20M annual production capacity in the next decade. Tesla also announced its entrance into the auto insurance space, which I think will help the company reach its ambitious capacity expansion goals. Looking forward, Tesla still has plenty of growth ahead of it, which should help support its share price. Watch the video below to find out more!
Disclaimer: This is not financial advice. Please consult with your financial advisor in regards to any stocks you buy.
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