Tesla, the electric vehicle and clean energy company, revealed that the company produced and delivered half a million vehicles in 2020.
The company gave a breakdown of the figures as detailed below:
| Production | Deliveries | |
| Model S/X | 54,805 | 57,039 |
| Model 3/Y | 454,932 | 442,511 |
| 509,737 | 499,550 |
This is quite impressive as the company met its desired target despite the Corona virus pandemic. It produced 179,757 vehicles in the Q4 while it delivered 180,570 within the same period.
However this cannot be compared to traditional car manufacturers like Volkswagen and General motors. Volkswagen, the largest automaker in the world sold just under 11 million cars in 2019 while General motors, the largest in the US, sold 7.7 million cars within the same period.
In contrast to the sales comparison with the traditional car manufacturers, the company experienced a meteoric rise in its share price as it soared 743% for the year. It ended the year with a market value of 668.91 billion as at 31 December 2020, having surpassed the $500 billion mark for the first time in November 2020.
Its current market cap is worth roughly the combined value of the next eight most valuable global automakers – Toyota, Volkswagen, Daimler, GM , BMW, Honda, Hyundai and Ford .
In October 2020, Tesla reported its largest quarterly profit to date, posting net income of $874 million excluding special items, up 156% from the same period in the prior year.
