Tesla has produced over three million vehicles, according to CEO Elon Musk’s tweet on Sunday. According to the tweet, Tesla’s Shanghai factory has produced one million cars out of that total.
“Congratulations, Giga Shanghai, on producing the millionth car!” “Over 3 million Teslas have now been produced,” Musk tweeted.
Musk’s announcement comes after months of Chinese lockdowns and parts shortages that threatened Tesla’s vehicle production, and it suggests that Tesla’s Shanghai factory is producing a significant number of new vehicles following its opening in 2019 and subsequent years of investment.
Musk’s total vehicle achievement on Sunday comes as Tesla’s reported deliveries, the closest approximation for sales, have been increasing in recent quarters. Tesla announced in July that it delivered 254,695 vehicles in the second quarter, a 26.5% increase year on year.
However, the achievement highlights Tesla’s relative insignificance in comparison to automotive behemoths. Toyota, for example, delivered over 10 million vehicles in 2021 alone. Tesla announced earlier this year that it intends to increase vehicle deliveries by 50% per year.
Tesla also has plants in Fremont, California, Austin, Texas, and near Berlin, Germany, in addition to Shanghai. Musk announced in July that the company’s first factory, in Fremont, had produced 2 million vehicles.
Musk stated in June that he wanted to “get the Shanghai plant back in the saddle,” and that Tesla’s Berlin and Austin plants were “money furnaces,” losing “billions of dollars” due to supply chain and production issues.
In 2022, Tesla stock is down nearly 25% as investors reassess fast-growing companies in the face of inflation and macroeconomic concerns. Musk sold over 7 million Tesla shares worth approximately $6.88 billion last week while also embroiled in litigation over his efforts to terminate a $44 billion deal to buy Twitter.
