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Tesla Breaks Records Again – 7 Million EVs in Just 12 Months

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Tesla has surpassed the cumulative production of 7 million EVs. Unlike China’s BYD, which exceeded 7 million cars, including plug-in hybrids (PHEVs), Tesla’s new milestone is made up of 100% pure electric vehicles (BEVs).

Tesla announced that it had rolled out its 7 millionth EV from its Fremont factory in the United States. Tesla had produced 1 million vehicles by 2020, reached 4 million and 5 million vehicles in March and September of last year, respectively, and succeeded in surpassing 7 million vehicles within 12 months.

The biggest contributor to Tesla’s growth has been its Gigafactory in Shanghai, China, which produced the 3 millionth EV, and exports surpassed 1 million units as of last September. However, it remains uncertain whether Tesla will be able to maintain the same growth momentum, as the U.S. government and Europe have reduced their EV support policies, which were key markets.

In its third-quarter earnings report, Tesla stated that production and deliveries returned to growth compared to last year’s period. On Tuesday, the company produced its 7 millionth vehicle. The report also highlighted that the Cybertruck became the third-best-selling EV in the U.S. in the third quarter, following the Model Y and Model 3.

Tesla’s third-quarter net profit was 2.17 billion dollars, a 17% increase from the 1.85 billion dollars in the third quarter of last year. Operating profit also increased by 54% from a year ago to 2.72 billion dollars, breaking a downward trend lasting for four consecutive quarters. The operating profit margin stood at 10.8%, 3.2 percentage points higher than the same period last year (7.6%).

theguru
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