US automaker Tesla plans to begin production and deliveries from its new Gigafactories in Berlin and Texas by late 2021. Meanwhile, its Fremont facility has been ramping up production and is now close to its installed capacity of 600,000 units per year.
During its Q1 2021 financial results, the company noted that it expects sales to grow at a 50pc per year rate and projected that deliveries in 2021 would exceed this prediction as it sees increasing demand for electric vehicles in the market.
In Q1 2021, Tesla delivered 184,877 units, up 109pc from last year’s quarter. The carmaker’s automotive revenue grew by 75pc to $9bn while its adjusted EBITDA increased by 94pc annually in Q1 to $1.8bn.