Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Tesla Ready to Deliver Nearly 9000 EVs From Shanghai

Published 08/13/2022, 02:24 AM
Updated 08/13/2022, 02:24 AM
© Reuters.

By Michael Elkins

Tesla (NASDAQ:TSLA) enthusiast and investor, Sawyer Merritt released drone footage Friday showing nearly 9,000 vehicles ready to ship from Shanghai’s Southport Terminal, in China.

If Sawyer’s estimations are correct, the batch represents a new record for the company, and solid evidence that production at the Gigafactory is increasing.

According to China’s CPCA data released last week, Tesla China saw a 64% decrease in delivered vehicles from June to July. A drop that has been attributed to a three-month shutdown at Tesla’s GigaShanghai aiming to upgrade the production for the upcoming months.

In July, the GigaFactory was shut down from the first day of the month until the 4th while Model Y line was shut down from July 1-18, and the Model 3 line was shut down from July 18 until this past Monday, August 8.

Tesla announced on its 2Q earnings call that the company expects to achieve “50% average annual growth in vehicle deliveries”

“We plan to grow our manufacturing capacity as quickly as possible.” The company said. “Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries. The rate of growth will depend on our equipment capacity, factory uptime, operational efficiency and the capacity and stability of the supply chain”.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.