Tesla revs up the profit
Despite facing a global computer chip shortage and other supply issues, electric vehicle (EV) giant Tesla has posted a record-smashing profit of US$1.62 billion for the July-September quarter. The boost was driven (hehe…) by the record-breaking sale of 241,300 EVs. In a statement to shareholders, the company said it has addressed “global challenges” with “ingenuity, agility and flexibility that is unparalleled in the automotive industry”. And as it builds a new HQ in Texas, the company said it expects sales to grow an average of 50% annually – a rate any established company would be happy with.
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