Tesla reports US$721 mil earnings in first profitable year

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The firm says 2021 'will be more important' as it raises output in China and aims production at new plants. FMTNews Tesla

NEW YORK: Tesla Motors reported its first annual profit Wednesday, but shares fell after Elon Musk’s electric car company scored lower-than-expected fourth-quarter earnings.

“Despite unforeseen global challenges, we outpaced many trends seen elsewhere in the industry as we significantly increased volumes, profitability and cash generation.”

 

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