Elon Musk says Tesla has built 3 million cars, a third of those in China

Tesla Inc. produced. More than 3 million cars, a third of which are built in China, according to Elon Musk.

On Sunday, the CEO of Tesla congratulated the “mega factory” in Shanghai. in tut: “Congratulations Giga Shanghai on making the number one millionth car! Total Teslas has now achieved over 3 million”.

The achievement came a few weeks after Musk announced the Tesla plant in Fremont, California.She produced her 2 millionth car. Tesla also has new plants in Austin, Texas and Berlin, which Musk indicated in June Money furnaces.

The Shanghai factory opened in 2018, but has suffered temporary shutdowns due to COVID-19 restrictions and a shortage of spare parts.

In July, Tesla said Delivered nearly 255,000 vehicles in the second quarter, down about 18% from the previous quarter. However, the electric car maker beat Wall Street expectations in its second-quarter earnings, defying expectations that the shutdowns in Shanghai will hurt its bottom line.

When the earnings were releasedMusk said the company has been in “supply chain hell for a number of years,” but that except for surprise, “we have the potential to break records in the second half of the year.”

In that report, Tesla said the Shanghai plant had “the highest monthly production of cars in our history” in June.

Tesla shares TSLA,
+ 4.68%
It is up 25% over the past month, as indicated 3 for 1 stock split August 24, but it’s still down 15% year-to-date, compared to the S&P 500’s SPX,
+ 1.73%
10% decline this year.

Leave a Reply

Your email address will not be published. Required fields are marked *