Whereas asserting document income for the fourth quarter and final 12 months general, Tesla and CEO Elon Musk reiterated their dedication to the corporate's "Full Self-Driving" software program and their perception that it may be developed safely.

Tesla reported $5.5 billion in income over the past 12 months, topping the corporate's earlier document of $3.47 billion in 2020, in accordance with The Related Press.

"There ought to not be doubt concerning the viability and profitability of electrical automobiles," Tesla mentioned in a letter to shareholders, in accordance with the AP.

Contemplating the "Full Self-Driving" software program is being examined by homeowners of virtually 60,000 Teslas throughout the U.S., Musk mentioned he can be shocked if the software program is not able to driving safer than people by the top of the 12 months, a declare he has made relationship again a number of years in accordance with The New York Instances.

The 60,000 automobiles utilizing the $12,000 software program is a spike from about 2,000 in the course of the third quarter, the AP reported. Tesla additionally mentioned the elevated effectiveness of the software program would speed up the profitability of the corporate.

The system is at the moment described as a "driver-assist" system, able to switching lanes with out driver intervention and figuring out cease indicators and visitors lights, the Instances reported. Tesla nonetheless says that drivers utilizing the system ought to be ready to take over management of the automotive at any time, the AP reported.

Federal regulators in November started investigating a criticism from somebody who used the software program and claimed that the automotive modified lanes into the unsuitable lane, inflicting an accident, the AP reported.

Tesla Electric Vehicles Elon Musk Record Profits
Shut up of Tesla emblem on a charger at a Supercharger fast battery charging station for the electrical automobile firm Tesla Motors, within the Silicon Valley city of Mountain View, California, Aug. 24, 2016. Tesla reported document income within the final 12 months of over $5 billion.Smith Assortment/Gado/Getty Pictures

The "Full Self-Driving" software program has additionally been criticized by others within the automotive business, with one opposing CEO taking out a full-page commercial in The New York Instances attacking the software program, in accordance with Insider. The enterprise publication additionally reported that the advert was probably designed to provide publicity for the corporate whose CEO bought it.

It was additionally introduced in August that regulators had been investigating points with the "Autopilot" software program utilized by tons of of 1000's of Tesla automobiles that's designed to maintain the automotive at a comparable pace to visitors round it and keep in a single lane, in accordance with the AP.

The "Autopilot" system is being investigated for at the very least a dozen accidents, a number of of which concerned vehicles crashing into parked emergency automobiles like hearth vehicles and ambulances, The Instances reported.

The corporate additionally introduced Wednesday that it'll not start manufacturing on new fashions of automobiles in 2022 because of the ongoing scarcity of the pc chips used within the vehicles, and as an alternative will give attention to sustaining present manufacturing ranges of present fashions, in accordance with the AP.

Tesla delivered about 936,000 automobiles in 2021, about double the determine it delivered in 2020, and executives mentioned they anticipated related progress for the following a number of years, the AP reported.