Tesla yields record-high profit, income in Q3

American electric carmaker Tesla achieved its best-ever net income and profit in the third quarter of this year, according to a statement.

Tesla’s net income jumped 389% year-on-year to $1.62 billion in July-September this year, the statement said on Wednesday.

The company recorded $13.8 billion in total revenues, up 57% in the same period. This owed to the growth in vehicle deliveries and other parts of the business, it noted.

The gross profit of the company soared 77% on an annual basis to $3.7 billion in the third quarter.

Planning to expand its manufacturing capacity as quickly as possible, the company said “over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries,” depending on equipment capacity, operational efficiency as well as the capacity and stability of the supply chain. (Anadolu Agency)