Tesla: Bitcoin sales and environmental credits boost profits

Tesla: Bitcoin sales and environmental credits boost profits

Oops!Something went wrong.Please try again later.April 26, 2021, 9:28 PM·2 min readOops!Something went wrong.Please try again later.Elon Musk's Tesla has seen a jump in profitsTesla has posted first quarter profits of $438m (£315m) bolstered by sales of Bitcoin and environmental credits.Revenues also increased by 74% compared to the first quarter in 2020, despite production hurdles.However, profits were also dented by a $299m payment to the electric carmaker's chief executive Elon Musk.Mr Musk claimed Tesla's Model 3, its midsize sedan, was the "best-selling luxury sedan of any kind in the world" for the quarter.Tesla Autopilot 'tricked' to run without driver Tesla cars can be bought in BitcoinChina's biggest car brand to launch rival to TeslaHe also predicted the company's midsize sport utility Model Y would become the best-selling car or truck of any kind in the coming years."We've seen a real shift in customer perception of electric vehicles, and our demand is the best we've ever seen," Mr Musk told an investor call.The company said the Model Y has so far received a strong reception from consumers in China, where Tesla began manufacturing last year.China is possibly the world's most competitive market for electric vehicles, with hundreds of manufacturers vying for