Tesla is in the process of massively expanding the company’s vehicle production capacity. According to the EV maker’s Battery Day event, Tesla plans to produce 20 million vehicles a year by 2030.
This will make Tesla by far the biggest automaker in the world producing twice as many vehicles as the current number 1 auto OEM, Volkswagen, which produces 10 million vehicles a year.
To achieve this lofty goal, Tesla has been expanding its production capacity all around the world. Recently, Tesla has started vehicle production at a new factory in Brandenburg, Germany. And just this week the EV maker delivered the first 30 Model Ys produced at Giga Berlin.
Tesla is also finishing up work at its massive mile-long gigafactory in Austin Texas. Currently, Tesla is building a grand lobby for the factory opening event on April 7 and a truck has been spotted loaded with Model Ys leaving the factory.
In addition to this, Tesla is also increasing production capacity by as much as 50% at its Fremont California plant and is in preparation to launch a new China-designed vehicle at its Shanghai gigafactory.
All this new production capacity is expected to significantly grow the EV maker’s annual vehicle output. And now Daniel Ives who is a Managing Director and Senior Equity Research Analyst covering the Technology sector at Wedbush Securities has put forward his Tesla production capacity growth expectation for 2022.
Ives believes Tesla can finish the year with an annual production run rate of 2 million vehicles a year. In comparison, in 2021, Tesla produced 930,000 vehicles and ended the year with a production run rate of 1.22 million vehicles a year.
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Ives’ prediction puts Tesla’s growth in 2022 at a whopping 64% year over year. Ives says his bullish prediction is based on his analysis of Tesla’s Q1 2022 vehicle deliveries where he expects the EV maker to deliver 15 percent more vehicles than the Wall Street consensus. Ives notes particularly strong performance for Tesla in China and Europe.
We believe unit deliveries are trending well ahead of Street expectations for Tesla in 1Q. China and Europe in particular are tracking at least 15%+ ahead of Street estimates and combined with US Model Y-driven strength Tesla could now be on a 2 million unit run-rate exiting 2022— Dan Ives (@DivesTech) March 25, 2022
Despite Ives's stellar track record of calling Tesla’s future, this is still a prediction and we won’t know Tesla’s actual growth until the EV maker announces financial results for the year. We will be sure to keep you updated as Tesla releases more specifics. Make sure to visit our site torquenews.com/Tesla regularly for the latest updates.
So what do you think? Excited about Tesla’s growth in 2022? Do you think Tesla can indeed reach Ives prediction of 2 million vehicles a year? Let me know your thoughts in the comments below.
For more information check out: First Truckload of Giga Texas Model Y Leaves Tesla's Gigafactory Also, see Elon Musk Announces Manganese Battery Cell
Tinsae Aregay has been following Tesla and The evolution of the EV space on a daily basis for several years. He covers everything about Tesla from the cars to Elon Musk, the energy business, and autonomy. Follow Tinsae on Twitter at @TinsaeAregay for daily Tesla news.