Tesla has reported its performance for the first quarter of 2022, and the company looks set to cross the 1,000,000 shipment mark for the year.
Despite the setbacks in Shanghai, Tesla delivered 310,048 electric cars in the first quarter of 2022. The EV maker had what CEO Elon Musk described as an exceptionally difficult year, thanks to global supply chain issues. Giga Shanghai also witnessed a brief closure during the quarter.
The Model 3 and Model Y continue to be extremely popular, making up 295,324 units. The remaining 14,724 were made up of the more expensive Model S and Model X.
The figure for this quarter was better than the previous one, where Tesla delivered 308,600 units. It was significantly better than the same quarter last year when Tesla moved 184,800 cars, a 68 percent rise. However, Tesla only manufactured 305,407, which means some vehicles made in the previous quarter were delivered in this quarter.
More financial details of the quarter will be made available after the market closes on April 20th. There will also be a live question and answer webcast on the same day where the results and outlook will be discussed.
Tesla had to close down Giga Shanghai for two days last month when Covid-19 cases began to rise in the city. Lockdown also caused the factory to close last week. Any closure at Giga Shanghai is bound to have an effect on Tesla’s bottom line as it is the largest plant producing the Model 3 and Model Y.
However, the effect will be more cushioned with the new Giga Berlin that recently began production. It is the first Tesla factory in Europe and will take care of demand on the continent. The state-of-the-art facility will produce half a million battery-electric cars when fully operational, starting with the Model Y. There will also be battery production in an adjourning facility.
Tesla is also on track to open Giga Texas in Austin on April 7th. The company will hold what Musk calls a cyber rodeo to mark the opening.