There are a lot of Tesla cars fans in the world. Tesla made $5.5 billion last year selling 936,000 vehicles and thus was a new record. “There should no longer be doubt about the viability and profitability of electric vehicles,” Tesla said in a letter to shareholders. But not all the news are good for fans. A an example, consumers awaiting the arrival of the Tesla Cybertruck will have to wait at least another year. Tesla CEO Elon Musk said Wednesday the global chip shortage would stop the company from rolling out any new models in 2022. Musk said factory output was constrained last year. Not only the Cybertruck (which was originally scheduled to go on sale last year) is affected. Tesla isn’t yet working on a promised $25,000 small electric car. Musk also said the company is looking at building additional factories.
Commerce Secretary Gina Raimondo issued a dire warning for Congress on semiconductor chips this week. For Tesla, innovation is important. The company has its own expectations. It started building Model Y SUVs late last year at its new factory near Austin with more advanced battery cells. The company also said it’s testing equipment at its new factory in Germany, and is still trying to get a manufacturing permit from local authorities. Musk said he’d be shocked if the self-driving software can’t drive more safely than humans this year. But we are in aa unstable world and Tesla stock was down 7% Thursday, hovering around $871.