Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Tesla plans to achieve a 50pc growth in annual vehicle deliveries, over the next few years, the US-headquartered electric vehicle maker said in its earnings report.


The company indicated while reporting its 2020 and Q4 2020 earnings on Jan 27 that its growth rate will be dependent not only on the carmaker’s equipment capacity but also on its supply chain. 


It added that the Gigafactories being built in Germany and Texas were on track and deliveries from both locations would begin in 2021. 


Tesla also plans to expand its Shanghai Gigafactory to increase capacity and begin the deliveries of its Semi this year and its flagship facility in Fremont is expected to resume production in Q1 after its ongoing upgrades are completed. 


In 2020, the company reported an output of over 500,000 EVs from its existing location and sold 499,500 cars during the year. The carmaker’s total revenue grew by 46pc in Q4 2020 compared with the same previous-year quarter, after vehicle deliveries improved significantly in that time frame. However, the company reported that its average selling price per unit fell by 11pc after it began focusing on selling its lower-priced Model 3 and Model Y in 2020 compared to the previous year.

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