Tesla Motors today announced the company's fourth-quarter and full-year financial results for fiscal year 2021. The report shows Tesla Motors' fourth-quarter total revenue was $17,719 billion, up 65% from $10,744 billion in the same period last year. His net income is $2,343 billion compared to $296 million in the same period last year. The company's net income for ordinary shareholders was $2,321 billion, up 760% from $270 million in the same period last year.
Following the release of the earnings report, Tesla CEO Elon Musk, CFO Zach Kirkhorn, VP of Technology Drew Baglino, Head of Commercial Energy R. J. Johnson, and President of Operations Jerome Guillen provided responses. to some questions from the press and analysts.
During the meeting, analysts asked questions about Tesla research and development, which were also answered by Musk and other executives.
The following is a transcript of the question and answer:
Baird Analyst Benjamin Kallo: My question is about R&D. How does Tesla organize R&D? You just mentioned a lot of new products, does Tesla have its own R&D incubation center? What is the Tesla R&D structure?
Elon Musk: We do not have our own research and development center. We create only those products that are really needed. W Design, build, and iterate quickly, ultimately aiming for mass-produced products at a reasonable cost and price. Of course, the last part is the hardest to implement. I've said many times that prototyping is easier than mass production. Mass production of products often exceeds budget. Therefore, it is really difficult to achieve mass production.
Zach Kirkhorn: Difficulties can only be felt if you experience them yourself.
Elon Musk: Our society tends to value creativity. Of course, creativity is important, but the implementation process is more important. For example, you may have an idea to go to the moon, but the hardest part is how to implement it. The same is true for product creation and mass production. Nowadays, most people pay too much attention to the idea and neglect the implementation of the idea. Tesla has countless brilliant ideas, but we need to explore what ideas can become a reality, and this process requires our sweat and tears.
Zach Kirkhorn: Ultimately, the more you put in, the faster you can mass-produce a new product.
According to Tesla's earnings report, there will be no new models this year. FSD will be greatly improved in the next few months.
