Shares of the electric vehicle organization fell 2.7 percent in late-night trading.

Tesla Inc on Wednesday anticipated that supply chain issues will continue through this year, subsequent to posting record quarterly income that beat Wall Street estimation.

The stock fell 2.7 percent in late-night trading.

Income rose to $17.72bn in the final quarter, from $10.74bn a year before. Experts had anticipated that the electric vehicle producer should report an income of $16.57bn, as indicated by IBES information from Refinitiv.

The world’s most important automaker last quarter gave over a record number of vehicles to clients regardless of supply chain headwinds.

“Our own manufacturing plants have been running beneath capacity with respect to a few quarters as the supply chain turned into the super restricting variable, which is probably going to proceed through 2022,” Tesla mentioned in a statement.

Tesla said on Wednesday that its new processing plant in Austin, Texas in the United States began the creation of the Model Y before the end of last year. The

organization said it intends to begin deliveries to clients after the final certificate, without explaining the time span.

It said it expects to amplify the output from its California plant past 600,000 vehicles each year.

Tesla has fared better compared to most automakers in overseeing supply chain issues by utilizing less scant chips and rapidly changing programming.

Tesla faces the difficulties of increasing creation at two new industrial facilities this year with innovation changes just as battery and other supply chain limitations clouding the viewpoint.

It faces rising rivalry from rival organizations that are set to send off a variety of electric vehicles, from more reasonable models to electric pickups.