Despite the presence of a pandemic and a burdened automobile market and economy, Tesla sets an eye to producing a million cars in 2021. It sounds inconceivable a but Wall Street analyst is convinced it is not impossible.
A strategy to expand, Tesla explored the cell, battery storage, and solar division sections as part of the company’s growth strategies. This year, the company gone for wider global expansion, the manufacturer is more aggressive with its goal to produce 500,000 cars this year.
While it may be hard to believe that Tesla can hit their 2020 goal of half a million cars, in fact, they did with their two major manufacturing sites — Fremont Factory and Gigafactory Shanghai’s Phase 1 on operation. Morningstar’s David Whiston is firmly convinced that Tesla has the capacity to meet its target next year, which is one million cars.
To add to the figures, Whiston said Tesla is on its course and can deliver up to 950,000 electric cars and maybe set a higher target for 2022.
According to Whiston, “With new plants partially opening in Berlin, Texas, and the Model Y Shanghai plant all next year, we think 2021 deliveries of around 1 million units are not unrealistic.” The analyst also predicted that Elon Musk’s lead company can sell 23 million cards in this decade.
The estimate is achievable and now more realistic with the near completion of Giga Shanghai’s Phase 2 and bound to manufacture Model Y for 2021. The two Giga sites — The Gigafactory in Berlin is set to produce Model Y sometime next year too and Gigafactory Texas where Tesla Cybertruck is made is entrenched to start operating again for 2021.
With all Tesla’s wheels ready to spin, a million cars for a company once struggled to yield 5,000 cars a week is attainable.