Tesla has been able to smash their initial delivery estimates of EVs in only the first quarter of 2021! This shows that Elon Musk's main bet on both Europe and China is now starting to pay off.
Tesla 3 months into 2021
According to the story by Bloomberg, the results then marked a pretty strong start to a year in which the Tesla CEO Elon Musk is now counting on global operations in order to assist the scale-up production and sales. Palo Alto, the California-based Tesla, delivered a whopping 184,800 cars around the world during 2021's first three months.
The sales were able to beat the previous 169,850 average estimates from a Bloomberg survey of a number of analysts and even beat the Q4 figure by a whopping 4,000 vehicles. Webush's Dan Ives noted in a research note on Friday, according to Yahoo News, that this was a "massive home run," especially for the Tesla bulls.
Tesla estimates for 2021
Ives even believes that both China and Europe were even particularly robust this quarter, and it now puts the trajectory to exceed a whopping 850,000 for 2021, which is way ahead of all the whisper expectations. Elon Musk is generally pushing straight into China which is already the country with the world's largest automotive market, and this also includes EVs.
The company is reportedly pushing efforts in order to gain a foothold, especially against competition coming from some other local electric-vehicle startups and even the Volkswagen AG. Auto sales are also forecasted to rise in the nation for 2021 for the very first time since 2017.
Tesla China movement
Premier Li Keqiang, back in March, noted to the National People's Congress that the government will also make moves to help boost the total number of different EV charging stations as well as battery-swapping facilities. According to analyst Jefferies in a research note, Tesla's main volume now stands apart from many other automakers who are now showing declines, partly due to the electronic-chip shortage.
The company saw an incredible run back in 2020 that even saw its total stock price rise by over 700%. Tesla's total shares fell around 6% this year on April 1. Tesla has just recently refreshed the popular Tesla Model X SUV and Tesla Model S sedan. None of the Model X and S EVs were actually made during that quarter, and there were only a total of 2,000 delivered.
The Tesla Model X and S are both made only at the Fremont, California factory, while the Model 3 and the Model Y are both made in a Tesla plant in Shanghai. It now plans to build an additional two factories this year, namely in Texas and yet another one near Berlin.
This article is owned by Tech Times
Written by Urian Buenconsejo