A worsening global supply chain crisis is having an impact on automakers across the world, but despite the struggles, Elon Musk says that isn’t enough to stop Tesla’s growth
Tesla boss Elon Musk expects sales in EVs to grow by 50 percent despite ongoing supply issues.
The electric carmaker recorded a massive 5.5 billion dollars in earnings last year.
Mr Musk said that 2021 was “a breakthrough year for Tesla, and for electric vehicles in general”.
“While we battled, and everyone did, with supply chain challenges through the year, we managed to grow our volumes by nearly 90% last year,”
There have been fears that the company’s growth would slow, as supply chain issues affecting carmakers continue to limit manufacturing capacity.
Tesla said its supply chain was “the main limiting factor” to growth, “which is likely to continue through 2022”.
Elon Musk said he expected growth “comfortably above 50%” in 2022.
Carmakers around the world are grappling with a shortage of microchips, among other production and supply chain snarls, though Tesla had been seen as faring better than most.
It uses chips that are less scarce and quickly re-writes software, while competitors slow production.
