Tesla almost hits 500,000-car delivery target for 2020 despite pandemic

Tesla reported file deliveries of its electrical automobiles within the final three months of 2020, coming inside a whisker of reaching the half-million target for the 12 months set by its chief government, Elon Musk.

The California-based producer’s annual gross sales rose by 36% after a last quarter that exceeded analysts’ expectations, delivering a complete of 499,550 automobiles in 2020.

Tesla delivered 180,570 electrical automobiles between October and December, falling simply wanting the general target Musk had set firstly of the 12 months, earlier than the beginning of the coronavirus pandemic.

Covid-19 pressured the shutdown of the corporate’s Fremont US meeting plant within the spring, however Musk urged staff to extend manufacturing to hit the target, and final week provided incentives together with free “self-driving” choices value $10,000 (£7,300) on Tesla automobiles whose paperwork and delivery was accomplished within the final days of December.

Despite apparently lacking the target, Tesla stated it had “produced and delivered half a million vehicles, in line with our most recent guidance”, and Musk hailed it as a “major milestone”.

He tweeted: “So proud of the Tesla team for achieving this major milestone! At the start of Tesla thought we had (optimistically) a 10% chance of surviving at all.”

More than 509,000 automobiles had been made by the producer in 2020. Production of its Model Y SUV has additionally begun in its Chinese plant in Shanghai, with deliveries anticipated to start shortly, Tesla stated.

Tesla’s share value, which rose eightfold in 2020, ended the 12 months at greater than $705, valuing the corporate at $669bn – 20% of which is owned by Musk himself, who’s the world’s second-richest man. It overtook Toyota earlier within the 12 months because the world’s most precious carmaker and final month joined the prestigious Wall Street S&P index, instantly turning into its sixth most precious listed firm.