Tesla Posts Record Profit, Won’t Produce New Models in 2022

Tesla Posts Record Profit, Won’t Produce New Models in 2022
The company logo sits on an unsold 2020 Model X at a Tesla dealership in Littleton, Colo., on Feb. 2, 2020. David Zalubowski/AP Photo
|Updated:

DETROIT—Tesla Inc. on Wednesday posted record fourth-quarter and full-year earnings as deliveries of its electric vehicles soared despite a global shortage of computer chips that has slowed the entire auto industry.

Although the company predicted it would be able to build 50 percent more vehicles than it made last year, CEO Elon Musk said the chip shortage would stop the company from rolling out any new models in 2022. That means another delay for the Cybertruck pickup, which was originally scheduled to go on sale last year.