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Elon Musk states that Tesla has created more than 3 million cars

Elon Musk states that Tesla has created more than 3 million cars

August 16, 2022: -Tesla has created more than three million cars, CEO Elon Musk tweeted. Of that total, Tesla’s Shanghai factory has produced one million cars, according to the tweet.

“Congrats, Giga Shanghai, on making the millionth car! In the tweet, ” total Teslas made over 3M,” Musk said.

Musk’s statement arrives after months of lockdowns and parts shortages in China that threatened Tesla’s vehicle production and suggests that Tesla’s Shanghai factory has a significant number of unique vehicles after spreading in 2019 and subsequent years of investment.

The total vehicle achievement celebrated by Musk on Sunday comes after Tesla’s reported deliveries, the nearest approximation for sales, have been rising in recent quarters. In July, Tesla said it delivered 254,695 vehicles in the second quarter, a 26.5% rise yearly.

Tesla said it intends to increase vehicle deliveries by 50% this year. But the landmark highlights how little Tesla is compared to automotive giants. For instance, Toyota delivered over 10 million vehicles in 2021 alone.

In addition to its Shanghai plant, Tesla delivers cars at factories in Fremont, California; Austin, Texas; and near Berlin in Germany. Musk said in July that the company’s first Fremont factory had made 2 million cars.

In June, Musk declared he wanted to get the Shanghai plant “back in the saddle” and regretted that Tesla’s Berlin and Austin factories were “money furnaces” losing “billions of dollars” because of supply chain and production issues.

Tesla stock is down about 25% in 2022 as investors have been reassessing fast-growing companies in the face of inflation and macroeconomic concerns. Musk sold over 7 million shares of Tesla last week, worth roughly $6.88 billion, as he is simultaneously tied up in litigation over his efforts to complete an agreement to buy Twitter for $44 billion.

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