Tesla's profits soared to a record – but challenges are mounting
The company has seen its share value drop sharply, and rivals are edging into the electric vehicle market. But after doubling its profits in a year, Tesla says it has no plans to slow down.
Updated January 25, 2023 at 6:22 PM ET
Tesla reported record profits and record revenues for 2022, as the company heads into a new year facing a number of steep challenges.
Profit for the year hit $12.6 billion, more than doubling since 2021 and beating the expectations of most analysts.
The company, which has blown past skeptics and doubters for years, acknowledged there's "short-term uncertainty" about the broader economy.
But it's showing no plans
