Elon Musk expects Tesla to grow by 50% despite supply chain issues

Elon Musk says Telsa sales will grow by more than half in 2022 compared with the previous year.

The chief executive has shrugged off concerns over supply chain issues after the electric car manufacturer reported a record £4 billion ($5.5 billion) profit in 2021, while sales rocketed 71% to $53.8 billion with more than 936,000 vehicles being delivered to customers.

Growth will still be slow due to the supply chain problems, but Musk described 2021 as a "breakthrough year for Tesla, and for electric vehicles in general".

He added: "While we battled, and everyone did, with supply chain challenges through the year, we managed to grow our volumes by nearly 90% last year."

Despite the issues, he noted he expects growth "comfortably above 50%" this year.

Meanwhile, he also predicts that fully self-driving cars "will become the most important source of profitability for Tesla".

He explained: "The cars in the fleet essentially becoming self-driving via a software update might end up being the biggest increase in asset value of any asset class in history, we shall see."

© BANG Media International