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Home ยป Tesla Hits Major Milestone, Reaches 5 Million Vehicles Produced

Tesla Hits Major Milestone, Reaches 5 Million Vehicles Produced

Canaccord Genuity just cut his price target on $TSLA from $267 to $234

Tesla recently celebrated producing its 5 millionth electric vehicle, a significant milestone achieved in just over 6 months since hitting 4 million vehicles made. Tesla’s rapidly expanding production capacity reflects increasing global demand.

Currently, Tesla has four factories manufacturing vehicles – Fremont, California, Austin, Texas, Shanghai, China, and Berlin, Germany.

Notably, Tesla’s Shanghai Gigafactory recently rolled its 2 millionth China-made vehicle off the line (Tesla Gigafactory Shanghai Reaches 2 Million EV Milestone). Tesla touts the plant’s 99.9% Chinese workforce and 95% localization rate for components, exemplifying its overseas manufacturing capabilities.

Reports indicate Tesla aims to continue growing its factory network to boost output. The company is building a new plant in Nuevo Leon, Mexico and has shown interest in establishing manufacturing in India in the coming years.

Tesla EV

With factories ramping production using streamlined assembly processes, Tesla is accelerating EV output to meet strong demand globally. The company’s existing fleet of 5 million Teslas already accumulates an estimated average of over 150 million miles driven per day.

As Tesla expands overseas and adds new factories, the march to 6 million vehicles produced likely happens even faster than the 6.5 months taken to reach 5 million. Tesla’s mission of accelerating sustainable transport is progressing rapidly thanks to efficiently scaling production worldwide.

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