Mr Musk has expressed determination to cut the price for Tesla's electric cars, which now start at US$37,990 in the USA market.
"It's still seeing huge sales growth quarter-over-quarter". In comparison, the stock was trading at a sharply lower £53.28 per share in March when the ongoing COVID-19 crisis wreaked havoc on the global auto industry.
"In a nutshell, we believe EV demand in China is starting to accelerate with Tesla competing with a number of domestic and worldwide competitors for market share with Giga 3 remaining the linchpin of success which remains the prize that Musk and Tesla are laser focused on capturing".
The company's December deliveries represent a year-over-year increase of 326% and a 35% increase from November. Where Tesla stands to gain over other global automakers is its hugely efficient manufacturing operation. Chief Financial Officer Zachary Kirkhorn in October said Tesla was "aiming to achieve (its) original 2020 guidance". Tesla's Gigafactory Shanghai set a high bar for 2021 past year by setting a 550,000-vehicle production goal, comprised of 300,000 Model 3 sedans and 250,000 Model Y crossovers.
According to the report, Tesla will begin taking its first online orders in the next few days, with its first models visible on Israeli roads in the coming months.
Moreover, despite very narrowly missing the target, Tesla said it had "produced and delivered half a million vehicles, in line with our most recent guidance", which Elon Musk said was a "major milestone".
Tesla China has updated the 2021 Model 3 with a new heated steering wheel and interior wood panels. There is the rear-wheel-drive Standard Range Plus, which has a range of 423km and a 0-100kph time of under 6 seconds.
While the base US$ 35,000 version of the Model 3 is no longer offered, the Model 3 still remains a relatively accessible vehicle overseas. "It is important to keep the hype about Tesla in perspective relative to the firm's limited, though now growing, production capacity".