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Elon Musk says Tesla has made over 3 million cars

17 May 2021, Brandenburg, Grnheide: Elon Musk, Tesla CEO, stands on the construction site of the Tesla factory and greets along with his hard hat.

Picture Alliance | Picture Alliance | Getty Images

Tesla has made over three million cars, CEO Elon Musk tweeted on Sunday. Of this total, Tesla’s Shanghai factory has made one million cars, based on the tweet.

“Congrats Giga Shanghai on making millionth car! Total Teslas made now over 3M,” Musk tweeted.

Musk’s announcement employs months of lockdowns and parts shortages in China that threatened Tesla’s vehicle production, and shows that Tesla’s Shanghai factory is creating a great number of new vehicles after opening in 2019 and subsequent years of investment.

The full total vehicles achievement celebrated by Musk on Sunday employs Tesla’s reported deliveries, the closest approximation for sales, have already been rising in recent quarters. In July, Tesla said that it delivered 254,695 vehicles in the next quarter, a 26.5% rise year-over-year.

However the milestone also highlights how small Tesla is in comparison to automotive giants. For instance, Toyota delivered over 10 million vehicles in 2021 alone. Tesla said earlier this season it plans to improve vehicle deliveries by 50% annually.

Along with its Shanghai plant, Tesla produces cars at factories in Fremont, California; Austin, Texas; and near Berlin in Germany. Musk said in July that the Fremont factory, the business’s first, had made 2 million cars.

In June, Musk said he wished to obtain the Shanghai plant “back the saddle” and lamented that Tesla’s Berlin and Austin factories were “money furnaces” losing “vast amounts of dollars” due to supply chain and production issues.

Tesla stock is down nearly 25% in 2022 as investors have already been reassessing fast-growing companies when confronted with inflation and macroeconomic concerns. Musk sold over 7 million shares of Tesla the other day worth about $6.88 billion as he could be simultaneously tangled up in litigation over his efforts to terminate an agreement to get Twitter for $44 billion.

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