Tesla has reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption across the world’s largest economies.
The company delivered 499,550 vehicles during 2020, beating Wall Street estimates of 481,261 vehicles, according to Refinitiv data.
The total was 450 shy of chief executive Elon Musk’s target of half a million.
But Mr Musk said in a Tweet that he was “proud of the Tesla team for achieving this major milestone”.
“At the start of Tesla, I thought we had (optimistically) a 10 per cent chance of surviving at all,” he said.
Tesla has pinned hopes on new markets such as Europe and Asia, with competition intensifying in its home country as legacy car makers double down their investments in the booming electric vehicle space.
Its delivery push has been supported by its new Shanghai factory, the only plant currently producing vehicles outside California. The carmaker said Model Y production in Shanghai has begun, with deliveries expected shortly.