Tesla’s (NASDAQ:TSLA) first-quarter 2022 earnings call comes on the heels of yet another record quarter that saw the company posting $3.6 billion GAAP operating income and an impressive 19.2% operating margin. As noted by the company in its Q1 2022 Update Letter, the company is currently focused on growing as fast as is reasonably possible.
As noted by CEO Elon Musk in previous statements, Tesla is now focused on an expansion of its production capacity. The past two months are a testament to this as the company launched not just one, but two new vehicle production plants. Both Giga Texas and Giga Berlin-Brandenburg have started delivering vehicles, and both facilities feature battery production facilities.
Despite all these projects Tesla also highlighted that it is nearly debt-free. As of the end of the first quarter, the company’s outstanding recourse debt has fallen below $0.1 billion. That’s extremely impressive for a company that is still growing at Tesla’s pace.
The following are live updates from Tesla’s Q1 2022 Earnings Call. I will be updating this article in real-time, so please keep refreshing the page to view the latest updates on this story. The first entry starts at the bottom of the page.
17:35 CDT – And that wraps up Tesla’s Q1 2022 earnings call! That was very efficient, with lots of questions answered and lots of topics covered. Thank you so much for staying with us on this live blog. We will see you again next quarter!
17:30 CDT – Goldman Sachs analyst Mark Delaney asks about opening the Supercharger Network. The company noted that there are plans to provide third-party vehicle access to the Supercharger Network not just in Europe, but in North America as well. There are challenges involved, but Tesla is working on them. “We want to do the right thing with respect to the whole system,” Musk said.
As for Tesla insurance, it is now the second-largest insurer of Teslas in Texas. The program is progressing well, however. Elon Musk noted that having real-time feedback on driving habits has been resulting in Tesla owners driving more carefully. Premiums are lower, and there’s extremely high retention. A real-time, fast feedback loop is incredibly useful, after all.
“We’re trying to turn a nightmare into a dream with Tesla Insurance,” Musk said, highlighting the idea that Tesla Insurance has turned into a passion project for the company.
17:28 CDT – Wells Fargo’s Colin Langan asks about how raw materials supply are built out. Tesla notes that flexibility is key to “solving” raw material challenges related to battery cells.
17:25 CDT – Piper Sandler analyst Alexander Potter asks if China’s shutdown would affect production outside the country. Elon Musk notes that this is indeed the case. “Some parts sourced in China that might impact production elsewhere,” Musk said.
In a follow-up question, Potter asked about Musk’s potential new compensation plan. The CEO stated that there are currently no plans for a new performance award.
17:22 CDT – Trip Chowdhry from Global Equities Research asks about the Cybertruck. In terms of parts, how does it compare with traditional trucks. Elon Musk noted that Tesla has not done a comparison yet, though Lars Moravy stated that the Cybertruck is simpler considering its use of megacasts. Ignoring battery cells, the Cybertruck would probably have 20-30% fewer parts than conventional pickup trucks.
As for an expansion of Giga Nevada, Elon noted that there are plans to expand the site, but the focus of expansion is currently Giga Texas.
17:20 CDT – Pierre Ferragu from New Street Research asks about Tesla’s free cash flow. He notes that Tesla is sitting on a lot of cash. Musk noted that the amount may be a lot now, but it’s difficult to predict inflation. The CEO stated that Tesla would like to do something useful with the funds. “500 billion might be worth 20 billion today,” Musk said.
Kirkhorn noted that Tesla is just focused on ramping the Robotaxi and Optimus, and make decisions about what’s next after that point.
17:15 CDT – Wolfe Research Rod Lache also inquires about potential obstructions to Ev adoption. Musk notes that cell output is crucial. Tesla might need to help with lithium mining and refining for EV adoption. He also encourages young entrepreneurs to get into the Lithium business. “Do you like minting money? Well, then lithium business is for you,” Musk joked.
In response to a follow-up from the analyst, Musk noted that Tesla is hoping that it does not need to raise prices anymore. “We hope we don’t need to increase the price further,” Musk said, though he noted that Tesla does not control the prices of raw materials. “The current prices are for vehicles in the future,” Musk added.
17:10 CDT – Analyst Dan Levy CSFB notes that one of the Model 3’s goals is to make an attainable car. He notes that given the Model 3’s goal, how does Tesla look at the vehicle’s price progression. Elon noted that it’s difficult to manage inflation, though Tesla is still aiming to make its cars as attainable as possible. Musk added that suppliers are also under heavy pressure.
Musk notes that with the Robotaxi, Tesla should be able to provide consumers with the lowest cost-per-mile transport with Robotaxi and FSD. A Robotaxi ride would cost less than a subsidized bus or subway ticket, Musk stated.
17:05 CDT – A question was asked about the dedicated Robotaxi. Elon noted that a product event for the Robotaxi would be held next year, with volume production happening in 2024.
Elon noted that volume production of 4680 cells should be likely around the end of the third quarter this year. It should also be noted that 2170 non-structural pack capability is available in Texas’ Model Ys, just like their siblings in Berlin.
17:03 CDT – An inquiry was asked about Berlin’s ramp and if it can match Giga Shanghai. Elon noted that Giga Berlin’s ramp should be faster since Tesla has learned a lot since the company had learned a lot with its China-based factory. The CEO also noted that there are special teams to help ramp production in Berlin and Texas. Musk added that with the structural pack, the body shop gets a lot simpler.
A question was also asked about the dedicated Robotaxi. Elon noted that a product event for the Robotaxi would be held next year, with volume production happening in 2024.
17:00 CDT – A question is asked about Tesla’s plan to scale to extreme size. Elon highlighted the importance of raw materials. The CEO noted that at 5, 10, 20 million-vehicle level, Tesla will need to look closer at the macro tonnage of raw materials. Tesla, however, thinks mining and refining lithium appears to be a limiting factor.
Some lithium-related announcements are due in the months to come. Tesla is also recycling about 50 tons per week worth of battery materials today, and it is only going to get more substantial with time. Musk highlights that Tesla’s recycling efforts are not just about batteries. The company is also recycling a lot of aluminum from scrap and regular wheels from conventional cars.
16:55 CDT – A question was asked about how Tesla’s 4680 cars are performing. Senior VP Drew Baglino noted that it would take several years to properly see how the vehicles are, though Elon Musk noted that 4680 structural packs would be comparable with the best alternative packs available this year. Needless to say, Tesla is working on all the areas mentioned on Battery Day.
16:53 CDT – The next question asks about Tesla’s efforts to open direct sales on a state-by-state level. A question was also asked about why Tesla doesn’t use 800v architecture. Musk stated that the US has not really shown much interest in allowing direct sales on a federal level so Tesla has to battle anti-direct sales legislation by state. (Drew Baglino) noted that higher voltage is not necessarily better. Musk noted that the advantages are small but the costs are high.
The Tesla executives Adopting 800v architecture may be worth it in the future, but high volume is needed to make the shift worth it. The Tesla Cybertruck and the Tesla Semi are candidates for 800v architecture. But for the Robotaxi, the advantages are “basically zero.”
16:50 CDT – Kirkhorn adds some details to Elon’s answer, noting that Tesla is renegotiating contracts with its suppliers. “We’re trying to anticipate where things will go,” he said.
16:48 CDT – The third question is about price increases. Musk noted that it may seem unfair that Tesla is increasing its prices despite having record profits, but the demand is there. Musk explains that Tesla’s price today anticipates logistical costs in the future. Cars ordered today will be delivered months later. Tesla is still production constrained.
16:45 CDT – The second question is about Giga Shanghai’s shutdown and the localization of the supply chain in Berlin. Musk noted that Shangai did lose lots of days. “We did lose a lot of important days of production,” the CEO noted, though he stated that “Giga Shanghai is back with a vengeance,” and it would not be surprising if the facility ramps its vehicle production line never before.
“We’ll see record production from Shanghai this quarter, albeit we are missing a few weeks,” Musk said, adding that Q3 and Q4’s production numbers will be far better. He estimates that Tesla could produce 1.5 million cars this year. Musk also noted that it takes about 12 month to go from the start of production to 5,000 vehicles per week.
16:43 CDT – First question from investors is about FSD timelines. Elon’s record here is spotty at best. The CEO reiterated that FSD development has experienced many false dawns and to solve FSD, Tesla would have to solve real-world AI. This is a challenging endeavor, of course, but it’s possible. The company has been laying the pieces for this gargantuan task, as hinted by projects like Dojo.
Musk urged those who wish to get a clearer view of Tesla’s FSD technology by joining the FSD Beta program. This actually makes sense.
16:41 CDT – “Optimus will be worth more than the car business. It will be worth more than FSD. That’s my firm belief,” Musk said, stating that the importance of the Optimus project will be apparent in the coming years.
16:40 CDT – Elon talks about the “Robotaxi,” a dedicated vehicle with no steering wheels or pedals. It will be designed solely for the Robotaxi service and optimized for FSD. Target production is set for 2024. Oh, and Cybertruck production is definitely in 2023.
Elon adds that Tesla aims to achieve 20 million vehicles per year at the end of the decade. But even today, Tesla is already at 5% of this goal.
16:38 CDT – Elon takes the floor, also for another round of opening remarks. He congratulates the Tesla team for achieving record profitability despite many different headwinds. “Q1 was once again a record quarter on many levels,” Musk said.
The CEO gave recognition to the Giga Shanghai team, which is operating once more despite getting hit hard by the city’s Covid shutdowns. Just like the Kirkhorn, Musk highlighted that Teslas’ debt is all but gone. “We have a reanonable shot at a 60% increase over last year,” Musk added.
Musk also took special care to mention that Giga Berlin and Giga Texas’ initial ramp would be deliberate, but they would be growing fast. “Initial ramp always looks small, but it grows exponentially.” He predicts that Giga Berlin and Texas will achieve high volume next year.
16:35 CDT – Interesting. CFO Zach Kirkhorn is doing the opening remarks. He states that Q1 was challenging, but it was still a successful quarter for Tesla. He highlights Tesla’s key achievements in Q1. He did admit that vehicle deliveries are pretty delayed, so some vehicles delivered today would be priced lower since they were ordered in previous months.
Kirkhorn also noted that $288 million from credit revenue. He notes that the company now has more profitable vehicles, including Model Y. The CFO highlighted that Tesla has achieved a record operating margins of over 19%.
Kirkhorn also set expectations for Q2, stating that Tesla lost about a month’s worth of vehicle production in Shanghai. Giga Berlin and Texas are also just starting up.
16:31 CDT – Looks like we’re starting on time! VP of Investor Relations Martin Viecha opens the meeting. Elon is here. here we go!
16:27 CDT – Less than five minutes left. Will we start in Elon time?
16:20 CDT – Tesla’s Q1 2022 results are extremely impressive. It’s pretty crazy to see that the company is practically debt-free at this point. The ironic part is that Tesla is still rated at Ba1 or below investment grade by Moody’s Investor Service and S&P Global Ratings. Is a facepalm in order?
16:15 CDT – Welcome once more to yet another live blog of Tesla’s earnings call! Elon Musk has stated that he would be present once more, so we all know what that means. Some important announcements are coming! What are your guesses?
Disclaimer: I am long TSLA.
Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.
Elon Musk
Tesla Supercharger for Business exposes jaw-dropping ROI gap between best and worst locations
Tesla’s new Supercharger for Business calculator reveals an eye-opening all-in cost and location-based ROI projections.
Tesla has launched an online calculator for its Supercharger for Business program, giving property owners their first transparent look at what it really costs to install Superchargers on site and what kind of return they can expect.
The program itself launched in September 2025, allowing businesses to purchase and operate Supercharger hardware on their own property while Tesla handles installation, maintenance, software, and 24/7 driver support. As Teslarati reported at launch, hosts also get their logo placed on the chargers and their location integrated into Tesla’s in-car navigation, meaning drivers are actively routed there. The stalls are open to all EVs, not just Teslas.
We launched Supercharger for Business in 2025 to help companies get charging right. We found simplicity and transparency to be a problem in this industry.
We’re now sharing pricing and a financial calculator to help make informed decisions. The goal is to accelerate investments,…
— Tesla Charging (@TeslaCharging) April 8, 2026
The new online calculator, announced by Tesla on Wednesday with the note that “simplicity and transparency” have been a problem in the industry, lets any business enter a U.S. address and get a real cost and revenue model. A standard 8-stall V4 Supercharger site runs approximately $500,000 in hardware and $55,000 per post for installation, bringing an all-in price just shy of $1 million. Tesla charges a flat $0.10 per kWh fee to cover software, billing, and network operations. Businesses set their own retail price and keep the margin above that fee.
Taking a look at Tesla’s Supercharger for Business online calculator, we can see that ROI is not uniform, and the gap between a strong location and a poor one can stretch the breakeven point by several years.
The biggest driver is foot traffic and how long people stay. A busy rest station, hotel, or outlet mall brings in repeat visitors who need to charge while they’re already stopped, pushing utilization numbers higher and shortening payback time.
Tesla Supercharger for Business ROI calculator
Local electricity rates matter just as much on the cost side. Markets like California carry some of the highest commercial electricity rates in the country, which eats into the margin between what a host pays per kWh and what they charge drivers. At the same time, dense urban areas with high EV adoption tend to support higher retail charging prices, which can offset that cost if demand is strong enough. Weather also plays a role. Cold climates reduce battery efficiency and increase charging frequency, but they can also suppress utilization in winter months if drivers avoid stopping in exposed outdoor locations. Suburban and rural sites face a different problem: lower baseline EV traffic, which means a site with cheaper power and lower operating costs can still take longer to pay back simply because the stalls sit idle more often. Tesla’s calculator uses real fleet data to pre-fill utilization estimates by ZIP code, so businesses can run their specific address against these variables rather than relying on averages.
The program has seen real adoption. Wawa, already the largest host of Tesla Superchargers with over 2,100 stalls across 223 locations, opened its first fully owned and branded site in Alachua, Florida earlier this year. Francis Energy of Oklahoma and the city of Alpharetta, Georgia have also deployed branded stations through the program, as Teslarati covered in January.
Tesla now exceeds 80,000 Supercharger stalls worldwide, and the calculator makes the economic case for accelerating that number through private investment rather than company-owned sites alone.
Investor's Corner
Tesla stock gets hit with shock move from Wall Street analysts
Despite Tesla not being an automotive company exclusively, the Wall Street firms and analysts covering its shares are widely dialed in on its performance regarding quarterly deliveries. While it holds some importance, Tesla, from an internal perspective, is more focused on end-to-end AI, Robotaxi, self-driving, and its Optimus robot.
Tesla price targets (NASDAQ: TSLA) have received several cuts over the past few days as Wall Street firms are adjusting their forecast for the company’s stock following a miss in quarterly delivery figures for the first quarter.
Despite Tesla not being an automotive company exclusively, the Wall Street firms and analysts covering its shares are widely dialed in on its performance regarding quarterly deliveries. While it holds some importance, Tesla, from an internal perspective, is more focused on end-to-end AI, Robotaxi, self-driving, and its Optimus robot.
In a notable shift underscoring mounting caution on Wall Street, three prominent investment banks slashed their price targets on Tesla Inc. shares over the past two weeks following the electric-vehicle giant’s disappointing first-quarter 2026 delivery numbers. The revisions highlight softening EV sales figures and, according to some, execution challenges.
Tesla delivered 358,023 vehicles in the January-to-March period, a 14 percent sequential decline and a miss versus consensus forecasts of roughly 365,000 to 370,000 units.
Production hit 408,000 vehicles, yet the delivery shortfall, paired with limited updates on autonomous-driving progress and new-model timelines, rattled investors. Shares fell about 8.7 percent since April 1.
Wall Street analysts are now adjusting their forecasts accordingly, as several firms have made adjustments to price targets.
Goldman Sachs
Goldman Sachs cut its target from $405 to $375 while maintaining a Hold rating. Analyst Mark Delaney pointed to soft EV sales trends and margin pressures.
Truist Financial followed on April 2, lowering its target from $438 to $400 (Hold unchanged), with analyst William Stein citing misses in both auto deliveries and energy-storage deployments, plus a lack of fresh details on AI initiatives and upcoming vehicles.
It is a strange drop if using AI initiatives and upcoming vehicles as a justification is the primary focus here. Tesla has one of the most optimistic outlooks in terms of AI, and CEO Elon Musk recently hinted that the company is developing something for the U.S. market that will be good for families.
Baird
Baird’s Ben Kallo made a very modest trim, reducing its target from $548 to $538, keeping and maintaining the ‘Outperform’ rating it holds on shares. Kallo said the price target adjustment was a prudent recalibration tied to near-term risks.
Truist
Truist analyst William Stein pointed to deliveries and energy storage missing expectations, and cut his price target to $400 from $438. He maintained the ‘Hold’ rating the firm held on the stock previously.
JPMorgan
Adding to the bearish tone on Monday, April 6, JPMorgan’s Ryan Brinkman reiterated an Underweight (Sell) rating and $145 price target, implying roughly 60 percent downside from recent levels.
Brinkman highlighted a “record surge in unsold vehicles” that adds to free-cash-flow woes, with inventory swelling to an estimated 164,000 units.
Tesla’s comfort level taking risks makes the stock a ‘must own,’ firm says
He lowered his Q1 2026 EPS estimate to $0.30 from $0.43 and full-year 2026 EPS to $1.80 from $2.00, both below consensus. Brinkman noted that expectations for Tesla’s performance have “collapsed” across financial and operating metrics through the end of the decade, yet the stock has risen 50 percent, and average price targets have increased 32 percent.
This disconnect, he argued, prices in an unrealistic sharp pivot to stronger results beyond the decade, while near-term realities remain materially weaker.
He advised investors to approach TSLA shares with a “high degree of caution,” citing elevated execution risk, competition, and valuation concerns in lower-price, higher-volume segments.
The revisions have pulled the overall consensus lower. Aggregators show the average 12-month price target now ranging from approximately $394 to $416 across roughly 32 analysts, with a prevailing Hold rating and a mixed split of Buy, Hold, and Sell recommendations.
Brinkman’s $145 target stands as a notable outlier on the bearish side.
Not Everyone Has Turned Bearish on Tesla Shares
Not all firms turned more pessimistic. Wedbush Securities held its bullish $600 target, stressing that AI and full self-driving technology represent the core value drivers, with current delivery softness viewed as temporary.
These moves reflect a broader Wall Street recalibration: near-term EV demand faces pressure from high interest rates, intensifying competition, especially from lower-cost Chinese rivals, and slower adoption.
At the same time, many analysts continue to see Tesla’s technology leadership in software-defined vehicles, autonomy, robotaxis, and energy storage as pathways to outsized long-term gains once macro conditions ease and new models launch.
With Tesla’s first-quarter earnings report due later this month, upcoming details on cost discipline, Cybertruck ramp-up, and AI roadmaps will likely shape whether these target adjustments prove prescient or overly cautious. Investors remain divided between immediate delivery realities and the company’s ambitious vision.
Tesla shares are trading at $348.82 at the time of publishing.
Elon Musk
SpaceX to launch military missile tracking satellites through new Space Force contract
SpaceX wins a $178.5M Space Force contract to launch missile tracking satellites starting in 2027.
The U.S. Space Force awarded SpaceX a $178.5 million task order on April 1, 2026 to launch missile tracking satellites for the Space Development Agency. The contract, designated SDA-4, covers two Falcon 9 launches beginning in Q3 2027, one from Cape Canaveral Space Force Station in Florida and one from Vandenberg Space Force Base in California. The satellites, built by Sierra Space, are designed to bolster the nation’s ability to detect and track missile threats from orbit.
The award falls under the National Security Space Launch Phase 3 Lane 1 program, which Space Force uses to move payloads to orbit on faster timelines and at more competitive prices. “Our Lane 1 contract affords us the flexibility to deliver satellites for our customers, like SDA, more easily and faster than ever before to all the orbits our satellites need to reach,” said Col. Matt Flahive, SSC’s system program director for Launch Acquisition, in the official press release.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
The SDA-4 contract is the latest in a long string of national security wins for SpaceX. As Teslarati reported last month, the Space Force recently shifted a GPS III satellite launch from ULA’s Vulcan rocket to SpaceX’s Falcon 9 after a significant Vulcan booster anomaly grounded ULA’s military missions indefinitely. That move made it four consecutive GPS III satellites transferred to SpaceX after contracts were originally awarded to its competitor.
This didn’t come without a fight and dates back years. SpaceX originally had to sue the Air Force in 2014 for the right to compete for national security launches, at a time when United Launch Alliance held a near monopoly on the market. Since then, the company has steadily displaced ULA as the dominant provider, and last year the Space Force confirmed SpaceX would handle approximately 60 percent of all Phase 3 launches through 2032, worth close to $6 billion.
With missile defense satellites now part of its launch manifest alongside GPS, communications, and reconnaissance payloads, SpaceX is giving hungry investors something to chew on before its imminent IPO.
Tesla Cabin Camera gets an incredible new feature for added driver safety
Tesla’s Semi truck factory is open with a detail that changes everything
