Tesla has warned that constraints in its supply chain will weigh on the electric car maker’s results “through 2022” as it reported a record fourth-quarter 2021 net profit of $2.3 billion.

Quarterly figures show that electric vehicle pioneers led by Elon Musk have deftly tackled supply chain congestion and Chip shortage This has been plaguing the rest of the auto industry.

But on Wednesday, Tesla said in an earnings announcement that its factories “have been below capacity for several quarters because [the] Supply chain is the main limiting factor,” a trend that “may continue into 2022.”

Tesla shares fell more than 5% immediately after CEO Elon Musk spoke on an investor call, but then rose 1.5% in after-hours trading.

Despite the troubled supply chain, Musk said Tesla’s sales growth this year should “easily exceed 50%.”Last year, Tesla 936,222 deliveredwith an annual income of 87%.

Musk has also promised to “solve” full self-driving technology by 2022 — a claim he’s made unsuccessfully in previous years.

Industry experts doubt Tesla can make it happen Autonomous driving ambitionsbut that didn’t stop the company from selling its driver-assistance features for $10,000.

In the long run, Musk said the full self-driving feature will be a core part of Tesla’s profitability, transforming cars from depreciating assets to products that appreciate over time as owners can rent them out to earn income.

“I’d be shocked if we don’t achieve fully autonomous driving that’s safer than humans this year,” Musk said.

Tesla’s quarterly net profit of $2.3 billion was 760% higher than a year earlier, but still missed Wall Street’s forecast of $2.55 billion. The company has posted a net profit for 10 consecutive quarters. For the full year 2021, it posted a net profit of $5.5 billion, a 665% increase from 2020.

Fourth-quarter revenue rose 65% year over year to $17.7 billion, well above expectations of $16.6 billion.

Fans of the company are asking about the upcoming update CybertruckSemi and Roadster vehicles were disappointing on the earnings call as Musk confirmed “we won’t have a new model this year — it doesn’t make any sense”.

He explained that efforts to introduce vehicles will lead to a decline in overall production and that the focus in 202 will be on scaling up operations.

When asked if Tesla could possibly sell for $25,000, Musk objected. “We’re not currently developing a $25,000 car,” he said. “At a certain point . . . but that’s the wrong question. Most importantly, when will the car be self-driving?”

Despite recent supply chain headwinds, the company called 2021 a “breakthrough year,” adding that its 14.7 percent operating margin outperformed all production automakers, “indicating that [electric vehicles] more profitable than ICE cars.”

company shares, Now headquartered in AustinIn Texas, after relocating from California, the company had fallen 22% this year ahead of Wednesday’s results, pulling its market value down to $934 billion.