Tesla jumped 35 positions on the Fortune 500 list due to record revenue in 2021. The manufacturer, which earned $53.8 billion in revenue last year, has risen from 100th to the 65th position.
The Fortune 500 list (via InsideEVs) ranks companies annually based on how much money they've made. In its 68th edition of the ranking of America’s largest companies, it noted that 2021 has been a breakthrough year for featured companies despite rising inflation, an ongoing supply chain crisis, and the second year of the COVID-19 pandemic. Despite all this, Tesla has become one of the few that has been able to generate a large income from its operations, with revenues 70.7% higher than a year earlier, which significantly lifted the company on the list.
Tesla made it to the Fortune 500 for the first time in 2016, coming in at the 384th position. Already in 2017, the manufacturer achieved a big breakthrough and earned 260th place. In 2018, the company moved up an impressive 116 positions to rank 144th. In 2019, Tesla jumped up to 124th. In 2020, the manufacturer broke the Top 100, taking 100th place. In 2021, the company has now moved up impressive 35 positions from last year, bringing it into 65th place.
Tesla generated $53.8 billion in revenue last year, up 70.7% from 2020. In addition, the company expanded into key markets, delivering almost one million vehicles, up 87% from last year. Fortune 500 wrote:
“The electric car company headed by Elon Musk continued its meteoric rise up the rankings, climbing 35 spots over last year. The company had a blockbuster 2021, bringing in $53.8 billion in revenue, up 70% from 2020, and expanding significantly into key European and Chinese markets. Tesla delivered 936,000 vehicles in 2021, an 87% increase that puts the company at the pinnacle of the global EV industry, with a 14% market share.”
Fortune notes that Tesla is also showing strong performance in 2022, delivering 310,048 vehicles in Q1. This, in turn, will also have a good effect on revenue growth, which will contribute to further advancement on the list this year.
“The company sustained its growth in the early months of 2022, weathering uncertainty and periodic factory shutdowns due to the COVID-19 pandemic in China to deliver 310,048 vehicles in the first quarter, en route to posting record quarterly earnings.”
© 2022, Eva Fox | Tesmanian. All rights reserved.
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