Tesla says no to any new models this year despite record earnings in 2021

Tesla will increase its production this year, but will not introduce any new models to the markets. Tesla CEO Elon Musk has said that the ongoing global chip crisis is the reason behind the decision.

"We have enough on our plate right now, quite frankly," Musk said. The decision comes despite Tesla posting record fourth-quarter and full-year earnings. Despite the semiconductor crisis, Tesla managed to register record number of deliveries of its electric vehicles around the world.

Tesla was expected to come up with the Cyberrtruck this year after a wait for almost three years since it first made debut. The decision not to produce any new models means the EV maker has further delayed the production of the Cybertruck. The decision also means that Tesla's plans to work on a smaller, more affordable electric car worth $25,000 will also have to wait. Production of Tesla Semi and the new Roadster have also been delayed.

Tesla earned $5.5 billion last year, eclipsing its previous record year in 2020 when the EV maker earned $3.47 billion. Tesla delivered 9,36,000 vehicles last year, nearly double the 2020 figure. "There should no longer be doubt about the viability and profitability of electric vehicles," Tesla said in a letter to shareholders.

This year, Tesla aims to build 50 per cent more vehicles than it made last year. It also plans to build more Gigafactories around the world. Musk said factory the plan to introduce new models this year has been dropped due to the chip crisis. New models would have meant fewer vehicle deliveries.

However, the Tesla Model Y production at its new facility in Austin is on course. Tesla said it started building Model Y SUVs late last year with more advanced battery cells. The EV maker plans to start delivering them to customers soon.

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