Tesla, the company led by Elon Musk, has reached another significant milestone by producing its fifth million vehicle worldwide. This achievement is even more significant when considering that just three and a half years ago, in March 2020, Tesla celebrated the production of its one millionth vehicle. Furthermore, as of March 1, 2023, the company had reported a cumulative production of 4 million vehicles.
Tesla’s exponential growth is reflected in its achievement of surpassing one million annual sales of electric vehicles (EVs) in 2022. This success was driven by the start of production facilities in Germany and Texas. According to the International Energy Agency (IEA), a 35% increase in global EV sales is expected by 2023, with a total of 14 million units sold. If this prediction holds true, Tesla could account for one out of every seven EVs sold worldwide.
When it comes to electric vehicle production, no other manufacturer comes close to Tesla’s numbers. Despite predictions that Volkswagen (VW) would surpass Tesla by 2024, Tesla has maintained a significant lead over its German competitor. The Tesla Model Y, in particular, has been the best-selling EV in Europe, outselling the VW ID.4 and ID.3 combined. China’s BYD has been Tesla’s closest competitor in the global EV production race. However, it is important to note that BYD’s production figures include plug-in hybrids, which have been distributed in South American markets.
While BYD leads in terms of pure production of plug-in hybrid vehicles, both Tesla and BYD stand out for their exponential growth in the electric vehicle market. In contrast, Nissan recently announced that it had sold over one million EVs worldwide, a milestone that took them 12 years to achieve. Additionally, Tesla reached another significant milestone in September by installing its 50,000th Supercharger station worldwide. With recent agreements with several car manufacturers to access Superchargers, Tesla’s charging infrastructure is expected to continue expanding rapidly.
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