Tesla has been on a production roll lately — so much so, that the industry-leading EV brand just announced that Gigafactory Shanghai has just produced its 1 millionth electric car. Considered a global export hub, this is a major milestone for the Gigafactory, which began production in December 2019.
According to Tesla’s announcement, the Gigafactory finished 2021 with an annualized production rate of over 800,000 vehicles. Tesla also reportedly upgraded the plant to achieve a production rate of 1 million vehicles per year and, considering the short period of time in which it has been operating, it is now the most productive electric vehicle factory in the world by a relatively wide margin.
Tesla CEO Elon Musk recently revealed that the company produced its 3 millionth EV overall and, just last month, Tesla’s Fremont factory announced that it produced its 2 millionth EV.
At the present moment, Gigafactory Shanghai only produces Model 3 and Model Y vehicles, but the factory is expected to expand to more vehicles next year as it continues to ramp up its production output. According to recent statements, Tesla is aiming to increase its production capacity to 20 million cars per year by the end of the decade.
Musk also recently hinted at the possibility of a new gigafactory location before the end of the year. While speaking at the 2022 Annual Meeting of Stockholders from Giga Texas, Musk told the crowd to expect a “record-breaking second half of 2022”, as the company’s existing four gigafactories built momentum. “We might be able to announce another factory location later this year,” he said, which prompted an eruption of cheers and location suggestions from the crowd. “Got a lot of Canadas,” he said in response to those suggestions. “I’m half Canadian, so maybe I should, yeah.”
Musk has said that, ultimately, Tesla will likely end up building at least 10 or 12 gigafactories around the world.