Tesla Confirms Production Of 300,000th Vehicle
Amid constant criticisms for failing to meet production deadlines, Tesla recently confirmed that it has produced its 300,000th vehicle. The bulk of this figure is comprised by its luxury Model S and Model X although with Model 3 production finally kicking into high gear, the company could soon take the lead among electric vehicle manufacturer in terms of total vehicles produced.
So far, the company has also delivered over 286,000 cars to its customers. The breakdown of this figure is as follows: 212,821 Model S vehicles, 71,927 Model X vehicles, and 1,770 Model 3 vehicles.
Data from Bloomberg reveals that as of Feb. 14, the company has completed 7,438 Model 3s. The vehicles are rolling off from the company's factory in Fremont, California which whose assembly line is currently pumping out the mass market sedans at a rate of 1,025 per week.
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While the production ramp-up of the Model 3 has been slower than anticipated, it is already contributing significantly to total production and deliveries. Should Tesla meet its vehicle projections, the company's fleet should quickly become the largest all-electric vehicle fleet in the world.
That being said, other companies are already well on their way to reducing the company's lead to zero. For example, Nissan delivered its 300,000th Leaf electric car last month. However, it should be noted that the vehicle already went on sale as early as 2011 while Tesla didn't deliver its first vehicle until 2013.
Still, time is something the Elon Musk-led electric automaker should take for granted. With investor and customer confidence slowly decreasing, the company needs to reach profitability as soon as possible or everyone will come out a loser in the fallout, including Musk himself.
The billionaire entrepreneur was recently presented with a massive compensation plan that could potentially add over $50 billion to his net worth if Tesla succeeds. However, there' still a long way to go before that happens and it all starts with delivering on its Model 3 promises.
