US electric carmaker Tesla reported its first-ever quarterly profit above $1 billion Monday as it reiterated its 2021 production targets despite supply chain upheaval. Musk has been a pacesetter in the industry, unveiling a growing slate of electric vehicles ahead of other traditional industry players. - Expanding production -Tesla reiterated its 2021 forecast, saying: "Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The language is identical to that in the prior quarter, although Tesla alluded repeatedly to supply chain problems. Tesla's results included $354 million in revenues tied to regulatory credit sales to other carmakers under policies encouraged to boost EV (electric vehicle) use.

Source: Mint July 26, 2021 23:48 UTC