Tesla is on a date with record profits. He sold 206,000 cars

Tesla is expected to post a record quarterly profit, largely avoiding the effects of a global chip shortage that has crippled the global auto industry.

Electric car maker Silicon Valley produced more than 206,000 vehicles in the second quarter, more than double its output a year ago.

Global auto sales have fallen somewhat due to a semiconductor shortage, and many automakers, including Ford Motor Company and General Motors, have been forced to shut down assembly plants due to manufacturing constraints. supply, pressure on vehicle inventories and rising prices.

Wall Street expects growth in Tesla’s auto delivery to help push second-quarter revenue to nearly $ 11.4 billion, from $ 6 billion a year earlier, analysts say surveyed by FactSet, and net income is expected to reach when the company reports its results. bell, it reached about $ 600 million, nearly 6 times the profit of the previous year, according to the “Wall Street Journal” and seen by Al Arabiya.net.

For his part, Tesla CEO Elon Musk said in June: “The biggest challenge we face is the supply chain, especially the control chips.” “The fear of running out of paper drives every business to over-ask – like a toilet paper shortage, but on an epic scale.”

The company said it made up the shortfall in the first quarter by switching to new chips and developing software for devices made by new vendors.

Analysts expect Tesla to continue ramping up production and plan to deliver 231,000 vehicles in the current quarter.

And Tesla, in the quarter ending June 30, had to deal with other issues. Its bitcoin investment could hit the company’s bottom line after the cryptocurrency’s price fell dramatically in the second quarter.

Tesla injected $ 1.5 billion into bitcoin earlier this year and briefly accepted cryptocurrency to buy its cars, only to be suspended in May due to concerns about the energy used to mine bitcoin.