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Electric cars in China

Tesla breaks earnings record as China boosts production and demand

Shanghai Gigafactory becomes company's main export hub

Its Shanghai plant has overtaken Fremont, California in production volume, Tesla said in its annual shareholder meeting in October.    © Reuters

PALO ALTO, U.S. -- Tesla reported record profits and revenue for the third quarter on Wednesday, defying supply chain challenges that are haunting automakers.

For the three months ended September, Tesla reported $1.62 billion in profit, an all-time high, and more than quadrupled the $331 million in the same period last year. It registered $13.76 billion in revenue, up 57% from a year earlier, which is also a record for the American electric carmaker.

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