Telsa's fast cash: EV maker nips at heels of profit leader Toyota - Nikkei Asia

Quick Summary

Tesla also uses large-scale casting equipment to build complex components in one go, instead of putting together several smaller parts.

Tesla's net profit increased more than sevenfold on the year in the January-March quarter to $3.3 billion, not far behind Toyota's 533.8 billion yen ($3.93 billion).

The extra cash has allowed Tesla to make big investments and reap big rewards.

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Article Details

Author / Journalist: Staff Writer

Category: InvestingFinanceAsia

Topics: Model Volkswagen Tesla Fiscal Need Toyota Cycle Days Vehicle Company Cash

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 18:11:00

News Timezone: GMT +9:00

News Source URL: asia.nikkei.com

Language: English

Reading Time: 5 minutes read

Article Length: 764 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 4105

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Official Website: asia.nikkei.com

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