Pre-tax profits at the Irish arm of electric car marker Tesla last year increased by 75% to €985,786.
New accounts filed by Tesla Motors Ireland Ltd show that the firm recorded the jump in profits after revenues surged by 60% from €43.49m to a record €69.73m.
The directors state that the company delivered more vehicles last year compared to 2021 due to increased sales of Model 3 and the first sales of Model Y.
The Nasdaq-quoted electric car maker only opened its first Irish sales outlet and showroom in Sandyford in south Co Dublin in April 2017.
The latest figures from the Society of the Irish Motor Industry (SIMI) show that 1,318 TESLA registrations were recorded here in 2022.
This represents a 53% increase on the 863 Teslas registered here in 2021.
Tesla increased its market share here in the new car market from 1.05% in 2021 to 1.25% last year.
The latest SIMI figures show that 678 vehicles have been sold here in the three months of this representing a market share of 1.17%.
Currently, Tesla globally has a market capitalisation of $579.69 billion.
According to the directors' report for Tesla Motors Ireland, the firm at the end of last year had 50 charger points in nine supercharger sites.
The directors state that "the company's own success remains dependent on the overall success of the vehicles at a global level".
The price for the Model 3 ranges from €42,990 to €53,890 - down from a price range of €52,990 to €68,990 in June of last year.
The firm's cost of sales last year increased by 60% from €40.46m to €64.84m.
Numbers employed last year increased from 17 to 20 and staff costs rose from €911,119 to €1.28m - that included share based payments of €170,950.
The firm's post tax profit was €825,804 after paying corporation tax of €159,982.
The profit last year takes account of non-cash depreciation costs of €413,983. At the end of December last, accumulated profits stood at €2m.
Globally in the three months to the end of March this year, Tesla delivered 422,875 cars - a 36% increase from the previous year.
Reporting by Gordon Deegan
