, Tesla's $270 million in net income was enabled by its sale of $401 million in regulatory credits to other automakers.
Tesla historically has racked up around $1.6 billion in regulatory energy credits, primarily zero emission vehicle credits, which helped the company report more than four consecutive quarters of profitability, qualifying the automaker for addition to the S&P 500 index. Tesla is currently delayed in producing and delivering its updated versions of its high-end sedan and SUV, the Model S and X, respectively. And it is delayed in commercial production of its custom-designed "4680" battery cells for use in forthcoming vehicles, including the Cybertruck and Tesla Semi.
Meanwhile, Musk's electric vehicle venture is facing regulatory scrutiny in China and the U.S. with high-profile vehicle crashes leading to negative publicity and investigations by vehicle safety authorities in both nations.and dogecoin have also contributed to the volatility in Tesla's stock. Musk has tens of millions of followers on Twitter.
Musk, a proponent of cryptocurrency generally, announced last week that Tesla was indefinitely suspending the acceptance of bitcoin as a payment for cars, saying he was concerned by the "rapidly increasing use of fossil fuels for Bitcoin mining and transactions." Tesla revealed earlier this year that it bought $1.5 billion worth of bitcoin.Enjoyed this article?
Kr00ney TechCheck CNBC is trying to bait retail into buying to shit on them. Just ignore gme and amc people. They’ve been diluted to hell. It’s not the same story it used to be.
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