Tesla posts record $12.6 billion profit in 2022

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Tesla earned more in 2022 than ever before in a fiscal year despite high inflation, economic worries and supply chain problems. Elon Musk’s electric car company increased profits by 128% year-on-year to $12.6 billion dollars, Tesla reported on Wednesday after markets closed. Revenues grew 51% to $81.5 billion, according to the statement. Tesla wants to expand production in 2023 “as quickly as possible” and continues to target annual growth of 50%. Recently, price cuts by the company had raised concerns among investors about a possible dwindling demand. In the final quarter, Tesla increased net…

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