Today Tesla reported 2021 first quarter profits of $438 million on revenues of $10.4 billion. However, all of these earnings likely represent emission credits paid to Tesla from other car companies. See: Bloomberg Article.
In other words, after almost 18 years, Tesla’s high-priced electric vehicles are, at best, only a marginally profitable product. Interesting!
Afterward: The law that allows Tesla to sell emission credits to car companies is stupid. It’s like allowing Quaker Oats to sell emission credits!
After afterward: Heard today that Tesla made $100 million selling some of its Bitcoins. I don’t know if this extraordinary item made it into 1st quarter results.
STAND UP FOR GASOLINE CARS!
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