Elon Musk’s Tesla Announces Annual Profit With $721 Million | 22 Words

Telsa have announced their first ever annual profit, revealing they made an eye-watering $721 million in 2020. Keep scrolling to find out more...

Now, we all know Tesla is a successful company.

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But, did you ever realise just how successful...

Well, you do now.

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As they've revealed the eye-watering amount of profit made in 2020...

Tesla is an electric vehicle and clean energy company with products currently including electric cars, battery energy storage from home to grid scale and solar panels.

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It's one of the world's best-selling plug-in and battery electric passenger car manufacturers.

Tesla is known for its state of the art engineering...

And the company has unveiled some very impressive vehicles during Elon Musk's time as CEO.

But the impressive vehicles haven't come without mistakes.

Who doesn't know about the infamous Cybertruck disaster?!

When unveiling the Cybertruck, Elon Musk claimed that the automobile was unbreakable.

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So confident in the shatterproof design, he asked Tesla design chief Franz von Holshausen to throw a ball at the Cybertrucks window.

And maybe he threw it "a little hard"...

The ball completely shattered the Cybertrucks supposedly shatterproof glass and it made Musk look like a bit of an idiot, to say the least.

"It worked in rehearsals..."

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After the fail during the presentation, Musk tweeted a video made earlier, when they had successfully practiced the stunt.

Inevitably, the incident led to people mocking Tesla...

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And Musk's presentation seemed to have seriously damaged Tesla's reputation.

Not that Musk seemed to care, however.

Musk is certainly a man who knows what he's doing...

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He is a seriously smart guy, and even if we don't like the Cyber truck design, we bet they're the start of a new era in automobile design.

He certainly wasn't finished with the Cybertruck...

Shortly afterward, Tesla unveiled its highly anticipated Tesla Roadster sports car for the first time at the European Grand Basel motor show.

The design had been highly-anticipated...

The Roadster, an all-electric 4-seater machine that Tesla claims has a top speed exceeding 250mph, was revealed last year and the firm displayed it in public for the first time at the Swiss event... although the white model on display appeared to be a design shell.

It is a very fast model...

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Tesla said the launch version, first confirmed during the launch event for the new Tesla Semi lorry in California,  will feature 10,000nm of torque (7376lb ft) from 3 motors. It can hit 60mph in 1.9 seconds, half-a-second quicker than the current fastest-accelerating Tesla, the Model S P100D.

Who doesn't love a fast car?

But at the end of the day, speed isn't everything when it comes to a safe vehicle.

Tesla pride themselves on the safety of their vehicles.

There's nothing more important than driving a car that is safe and reliable, and Tesla pride themselves on their autopilot technology that is installed in all of their vehicles to prevent accidents.

So it's safe to say...

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Tesla is worth a lot of money.

Something we now know for sure.

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As Tesla have announced their first ever annual net profit for 2020, and it's a lot.

In the year that many people lost their jobs,Tesla made $721 million raising the company value to more than $800 billion.

But, it hasn't always been a smooth ride for the company...

In the year prior, Tesla experienced a loss of $862 million.

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And even 2020 fell short of expectations, as Tesla's fourth quarter earnings, October to December, did not reach what was expected.

Still, the year as a whole was a great success with sales for Tesla vehicles rising by 36%.

They delivered more than 180,000 vehicles during the fourth quarter which beat the record, though it did narrowly miss a target to ship 500,000 for the year as a whole.

Which is still good going considering factory doors where shut for months due to Covid-19.

Tesla also recently announced it is in the process of updating its older vehicles including the Model S sedan with new motors, batteries and interiors.

$721 million is pretty good and it looks like it's set to keep growing.

For more on Telsa, keep scrolling to see how CEO Elon Musk lost out on the title of world's richest man....