Tesla Model 3

This is Tesla’s ninth straight quarter of profit.

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Electric vehicle manufacturer Tesla has achieved its best quarterly performance to date, with its net income, operating profit and gross profit all reaching record levels of growth.

The firm announced revenue growth of 57% year on year in quarter three, with an operating income of $2 billion (£1.45bn). Tesla attributed its profit to vehicle volume growth and cost reduction.

Tesla also achieved an operating margin of 14.6%. “EV demand continues to go through a structural shift. We believe the more vehicles we have on the road, the more Tesla owners are able to spread the word about the benefits of EVs,” Tesla said.

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Also » Tesla Q3 2021 Update (pdf) / The Guardian / Nikkei / The VergeNY TimesGreen Car Congress / Al JazerraArabNews / Bloomberg / ZDNet