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Tesla: On Track to Half a Million Vehicles This Year?

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Oct. 8, 2020—Tesla says it has a chance to produce 500,000 vehicles this year, reports Reuters.

According to the report, CEO Elon Musk sent out an internal email obtained by Reuters that told employees the news.

"This all comes down to Q4. Please take whatever steps you can think of to improve output (while increasing quality)," Musk wrote.

Last week, Tesla said it delivered 139,300 vehicles in the third quarter, an all-time record for the electric car maker, yet shares fell as some analysts questioned whether Tesla could hit its ambitious year-end target. According to the report, the company will have to increase deliveries to nearly 182,000 in the fourth quarter to reach the target.

According to the report, Tesla’s delivery push has been supported by its new Shanghai factory, the only plant currently producing vehicles outside California. The company began delivering Model 3s from the new factory in December and said it aims to produce 150,000 Model 3 sedans in the factory this year.

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