from the chaaaaaarge dept.
According to Tesla's shareholder deck for Q4, which was released on Wednesday, not only was the company profitable, but it exceeded analyst estimates for revenue by over a billion dollars. Not bad when you're over a billion bucks ahead of the game, right?
[...] In the production department, things were similarly rosy. The company reported that it increased overall production of all its vehicles combined by 70% versus Q4 of 2020. Of course, that's not super surprising given what 2020 was like. Interestingly, Model S and Model X production was down 19% year over year, while the Model 3 and Model Y were up by 79%, which shows the brand's continued commitment to its more affordable models.
[...] Tesla also continued to expand its Supercharger network to a total of 3,476 stations with 31,498 plugs. That's a bump of 36% in stations over 2020, which is pretty respectable, especially considering supply chain issues and their effect on everything construction-related.
There's no doubt that Ford is embracing electrification. It was first to market with an electric pickup truck for the US market, and a darn good one at that. It has a solid midsize electric crossover that's becoming more and more common on the road, even if it does still upset the occasional Mustangophile. And there's an electric Transit van for the trades. But its electric vehicle division will lose $3 billion this year as it continues to build new factories and buy raw materials.
The news came in a peek into Ford's financials released this morning. As we reported last year, Ford has split its passenger vehicle operations into two divisions. Electric vehicles fall under Ford Model e, with internal combustion engine-powered Fords (including hybrids and plug-in hybrids) falling under Ford Blue. The move was in large part to placate investors and analysts, no doubt starry-eyed during a time when any EV-related stock was booming.
Tesla Exceeded Revenue Estimates in Q4 2021 by More than $1 Billion (20220127)
Tesla Burns More Cash, Fails to Meet Production Targets (20171102)
Ford Investing $4.5 Billion to Bring Electrification to 40% of Its Vehicles by 2020 (20151214)