Hyperdrive
Tesla Poised for Expansion After Just Missing 2020 Target
- EV maker’s record quarter pushed annual deliveries to 499,550
- Sales to start on China Model Ys; plants set for Texas, Berlin
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Tesla Inc. came close to meeting its 500,000 vehicle-deliveries goal for 2020, setting the stage for a new year in which it’s expanding in China and poised to open new factories in Texas and Germany.
The electric-car maker said Jan. 2 it handed over 180,570 vehicles in the year’s final three months, the most for any quarter but just 450 vehicles shy of the half-million mark Chief Executive Officer Elon Musk sought for the year. Tesla has been ramping up output of its more mass-market models to meet rising global demand for battery-powered cars, with 2020’s total jumping 36% from the prior year.