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Sales of regulatory credits to manufacturers of gasoline-powered cars and trucks rose to $518 million, the company said. That was the most ever for a single quarter. Those funds, which are pure profit for Tesla and nearly impossible for analysts to accurately estimate, have underpinned the company’s profitable streak that’s lasted more than a year after a decade of losses.
Tesla’s extended streak of profitability comes as it races to expand production in China, open its first auto-production facility in Germany and complete construction of a Gigafactory near Austin, Texas. At the same time, Musk’s company is about to face vastly more competition in every product category as companies including Volkswagen, General Motors, Ford, Hyundai, Nissan and startups such as Lucid and Rivian ramp up or launch sales of their own battery-powered cars and trucks.
What lobbyist came up w/ this scam? “A company can earn pollution credits by reducing polluting emissions below limits dictated by the EPA. ... Earned credits can then be sold to another company that has trouble keeping its emissions within permissible limits”
$TSLA makes more money from Bitcoin and ZEV credits than it does from making cars. But sure, give it 2x the market cap of $MA.
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