The profit of US electric car maker Tesla reached a record level of $ 3.7 billion in the first quarter of this year.

Electric car maker Tesla announced better-than-expected first-quarter results. In the first quarter of this year, the company’s net profit increased by 255 percent compared to the same period last year, reaching $ 3.7 billion. Tesla’s net profit was $1.1 billion in the first quarter of 2021.

Tesla’s first-quarter revenues doubled from last year to $18.7 billion. This result was 1 billion dollars above the analyst’s average expectation.

In the statement made by the company, it was stated that the first quarter of 2022 was “another record quarter” for Tesla.

The company’s billionaire CEO, Elon Musk, predicted rapid production growth this year despite supply shortages.