Tesla held its 2021 Q2 quarterly earnings call on Monday, in which it announced $1.1 billion USD in net income, with a total of $11.9 billion in revenue.
During the call, Musk emphasized how crucial manufactured semiconductor chips were to the production of Tesla’s vehicles, and discussed the ongoing global chip shortage, as documented by The Motley Fool.
On the shortage, Musk said, “For the rest of this year, our growth rates will be determined by the slowest part in our supply chain, which is the wide range of chips that are at various times the slowest parts in the supply chain. I mean it’s worth noting that if we had everything else, if we had the best numbers of vehicles themselves, we would not be able to make them – everything except the chips, we won’t be able to make them.”
Musk later continued, “The chip supply is fundamentally the governing factor on our output.”
Elon Musk was joined on the earnings call by Senior Director of Investor Relations Martin Viecha and Chief Financial Officer Zachary Kirkhorn, as well as Senior Vice President of Powertrain and Energy Engineering Andrew Baglino.
Tesla CEO Elon Musk Disses Apple During Q2 Earnings Call https://t.co/CDzmckbcOc
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During the meeting, Musk also said he didn’t plan to attend future earnings calls, after being asked to do an interview with one audience member’s investing or Tesla podcasts.
Musk said, “I think also, I’d like — this is the last time I’ll do earnings calls, but this is the — I will no longer speak, default, during earnings calls. So obviously I’ll have to do the annual shareholder meeting, but I think going forward, I will most likely not be on earnings calls unless there’s something really important that I need to say.”
You can read the full transcript of Tesla’s second-quarter earnings call at The Motley Fool.
Contributing Writer at TeslaNorth.com from California’s southeast Bay Area. Covers electric vehicles, space exploration, and all things tech. Loves a good cup of coffee, live music and puppies. Buying a Tesla? Click here to get 1,000 free Supercharging miles.