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Business

Elon Musk said Tesla has produced more than 3 million cars to date, highlighting how much smaller the company is than the auto giants it’s up against




Elon Musk said Tesla has produced more than 3 million cars to date, highlighting how much smaller the company is than the auto giants it’s up against

Tesla CEO Elon Musk said the electric car maker has produced over 3 million cars so far.Patrick Pleul/image alliance via Getty Images

  • Tesla has produced over 3 million cars to date, of which 1[ads1] million have been made in the Shanghai factory.

  • CEO Elon Musk said “production is a much bigger challenge than demand” for the electric car maker.

  • Tesla has been in “supply chain hell” for the past few years, Musk said in July.

Tesla has produced over three million cars so far, and a third of them come from the company’s Gigafactory in Shanghai, CEO Elon Musk tweeted on Sunday.

Musk congratulated Tesla Shanghai on making its one-millionth car, which came amid months of shutdowns and COVID-19 restrictions in China. Tesla’s Shanghai Gigafactory opened in 2019.

Although producing over 3 million cars is a milestone for Tesla, the electric car manufacturer is still far behind the production of older car companies. Toyota, the world’s largest car manufacturer, delivered over 10 million cars, while Volkswagen, the world’s second largest car manufacturer, delivered almost 9 million cars – and that’s just in 2021 alone.

However, Tesla has a lot of demand for it: Musk said on Sunday Twitter that “production is a much bigger challenge than demand” for the company.

At Tesla’s second-quarter earnings call in July, Musk said the company has been in “supply chain hell” in recent years, but could have a “record hit” in the second half of 2022.

In July, Tesla announced that it delivered more than 250,000 cars in the second quarter of the year. That’s down 18% in the quarter due to supply chain issues and parts shortages, but the delivery figure represented a 27% increase from a year ago. Tesla produces cars in California, Texas and Berlin.

Tesla’s share price closed 4.7% higher at $900.09 on Friday. The stock is down 25 percent this year so far.

Read the original article on Business Insider





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