Elon Musk Announces Tesla's 3 Millionth Electric Car, Sets Production Plans for 20 Million EVs Annually

Since its founding in 2004, Tesla recently announced that it has already produced 3 million electric vehicles, as reported first by Electrek.

Elon Musk, the CEO of Tesla and SpaceX, said that the company developed its 3 millionth vehicle over "the last few weeks" during the company's annual shareholder meeting.

Tesla's Expanding Fleet

Tesla recently revealed that its Fremont factory had created its 2 millionth electric vehicle. The additional million cars came from the Gigafactories in Texas, Shanghai, and Berlin, all of which are still steadily increasing production.

Musk pointed out that the expansion of Tesla's fleet size has been so seamless that the resulting graph resembles one of those business plan charts designed to wow potential investors.

"10 years ago, we had made less than 3,000 cars, now here we stand, 10 years later, having made 3 million cars," the billionaire said in a statement.

Produce 20 Million Vehicles Annually

By 2030, Tesla plans to be able to manufacture 20 million electric vehicles annually. According to Electrek's report, Musk stated during the meeting that he thinks Tesla will require about 12 Gigafactories to reach that objective.

However, Tesla will need to begin adding new facilities quickly in the upcoming years, given that it takes the automaker a few years to establish a new facility and beef up its volume output.

Musk said that Tesla would probably reveal the location of the next Gigafactory later this year during the meeting.

Tesla wants to reach a production pace of 2 million vehicles annually by the end of 2022. Electrek further noted that in order to increase that amount in just eight years, it anticipates that Tesla may reveal more factories sooner or later.

For more tech stories, keep your tabs on Tech Times.

This article is owned by Tech Times

Written by Joaquin Victor Tacla