Musk: Tesla is able to produce 500,000 cars this year

(Reuters) – CEO Elon Musk informed the employees via an email seen by Reuters that “Tesla has a chance to produce 500,000 cars this year.

The company’s shares is up by 2.5% to 425.67 US Dollars.

The company indicated in January that cars supply for 2020 should effortlessly exceed 500,000 units, and this is an expectation that was never affected despite the coronavirus pandemic.

The bottom line of our work lies in the last quarter of this year. So please come up with ideas and take the steps that improves the production (while increasing quality)” Musk explained to employees on Wednesday.

And the industry blog Tesmanian reported this news earlier in the day.

Tesla announced last week that the company has delivered 139,300 cars in the third quarter, which is the highest record as an electric cars producer. Furthermore, Tesla will have to increase deliveries to nearly 182,000 in the fourth quarter of the year to reach the target by the end of the year.

Tesla’s deliveries push has been boosted by its new factory in Shanghai, the only plant currently producing electrical cars outside of California.

The company started delivering Model 3s cars from Shanghai in December. They said the company aims to produce 150,000 Model 3 sedans at the plant this year.

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