Tesla is a polarizing company, but those thinking Tesla is in trouble of failure or bankruptcy anytime soon should probably reconsider that stance. The company posted its Q4 2022 financial results, and while it’s easy to lose track of its financial success and dominance in the electric vehicle industry due to that polarization, the stats show that Tesla ended Q4 with over $22 billion USD in cash on-hand. That included paying off a large amount of its own debt.
Tesla’s cash situation could be found in its Shareholder Presentation on the Tesla Investor Relations website, which was posted alongside its Q4 2022 earnings results on January 25, 2023. According to Tesla’s unaudited balance sheet, the company finished Q4 2022 with a total of $22.185 billion USD in cash, cash equivalents, and investments. In fact, the company gained $1.1 billion in cash despite paying off around half a billion in debt throughout the previous quarter.
Tesla had additional commentary to share on its cash situation within the Q4 2022 shareholder presentation:
This bodes well for a number of other details from Tesla’s Q4 2022 earnings results. For one, Tesla has said that the Cybertruck is on track to begin production in 2023. The company also announced a $3.6 billion expansion in Nevada for battery and semitruck production.
With that in mind, it seems like Tesla is in good shape for the foreseeable future. With a conference call still on the way to discuss Q4 2022 earnings results, stay tuned here at Shacknews for more Tesla coverage and further company financial reporting as it becomes available.