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[Middle Column] Flashback 2021: Tesla Made More Money Selling Emission Credits and Bitcoin Than Cars

AutoWeek mag: Emissions credits accounted for $518 million in revenue in a quarter that saw a pretax income of $533 million and a net income of $438 million on a GAAP basis. Needless to say, the credits account for almost the entirety of Tesla's profit for this quarter—in fact, sales of emissions credits have been a major source of revenue for Tesla for quite some time, contributing to hundreds of millions in income for the past few quarters. The automaker accumulates regulatory credits because it produces only EVs and sells them for a profit to other automakers that are short of these credits.

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For one thing, if the government emissions credits did not exist and were not given to automakers under a cap-and-trade system, Tesla would simply not have any to sell—the government is essentially giving credits to Tesla to sell to other automakers for cash.

Published:4/29/2022 8:54:10 AM
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