Tesla hits record $3.3bn profit but warns factories will run below capacity in 2022

Tesla has announced a record $3.3bn profit in the first quarter of 2022 but the company has also said that factories will run below capacity for the rest of this year.

The profit is $438m higher compared to the first three months of last year and it’s the largest profit in one quarter since the start of the company.

Tesla said its total revenue in the first quarter was $18.8bn compared to $10.4bn the previous year, with profits going above and beyond the expectations of investors, according to The New York Times.