Tesla CEO Elon Musk
Tesla CEO Elon Musk
File Photo

Tesla has performed better than expected by the market. Electric car maker Tesla delivered 1,84,800 vehicles in the first quarter. This is despite major supply chain and production disruption caused due to the COVID-19 pandemic.

The company produced just over 1,80,338 units of Model 3 and Model Y and delivered around 1,82,780 units. Meanwhile, the company delivered 2,020 of its higher-end models S and X. The company stated that it received strong reception for the Model Y in China.

Tesla is quickly progressing to full production capacity, it stated.

Tesla stated, “The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.”

It stated Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.

It was found that Musk’s Bay Area production plant reported around 450 COVID-19 cases (from May 2020 to December 2020). Meanwhile, in Tesla’s facilities in Fremont, California as well there were multiple cases due to which the plant had to be shut down for some time.

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Free Press Journal