17 May 2021, Brandenburg, Grünheide: Elon Musk, Tesla CEO, stands on the construction site of the Tesla factory and salutes with his helmet.
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Tesla has made over three million cars, CEO Elon Musk tweeted on Sunday. Of that total, Tesla̵[ads1]7;s Shanghai factory has made one million cars, according to the tweet.
“Congratulations Giga Shanghai on making millionth car! Total Teslas now made over 3M,” Musk tweeted.
Musk’s announcement comes after months of shutdowns and parts shortages in China that threatened Tesla’s vehicle production, and suggests Tesla’s Shanghai factory is producing a significant number of new vehicles after opening in 2018 and following years of investment.
The overall vehicle performance celebrated by Musk on Sunday comes after Tesla’s reported deliveries, the closest approximation for sales, have increased in recent quarters. In July, Tesla said it delivered 254,695 cars in the second quarter, a 26.5% year-over-year increase.
But the milestone also highlights how small Tesla is compared to car giants. For example, Toyota delivered over 10 million cars in 2021 alone. Tesla said earlier this year that it plans to increase vehicle deliveries by 50% annually.
In addition to the factory in Shanghai, Tesla produces cars at factories in Fremont, California; Austin, Texas; and near Berlin in Germany. Musk said in July that the Fremont factory, the company’s first, had made 2 million cars.
In June, Musk said he wanted to get the Shanghai plant “back in the saddle” and lamented that Tesla’s factories in Berlin and Austin were “money sinks” that lost “billions of dollars” due to supply chain and production issues.
Tesla shares are down nearly 25% in 2022 as investors have reassessed fast-growing companies in the face of inflation and macroeconomic concerns. Musk sold more than 7 million shares of Tesla last week, worth about $6.88 billion, as he is also tied up in litigation over his attempt to renege on a deal to buy Twitter for $44 billion.