Despite COVID-19 shutdown, Tesla made over 90,000 deliveries
Despite being hit by the shutdown stemming from the novel coronavirus pandemic, Elon Musk's EV company Tesla managed to deliver more than 90,000 cars in the second quarter of 2020. The company announced the figures on Thursday, noting that the production at its main factory in Fremont, California, has returned to the pre-lockdown level. Here's more about it.
90,650 Tesla cars delivered in last quarter
In its announcement, Tesla said it delivered 90,650 vehicles during Q2, of which 80,050 were Models 3 and Y vehicles, while 10,600 were Models S and X. The figures, according to CNBC, were significantly better than the estimate of 72,000 vehicle deliveries given by Wall Street analysts. In Q1 2020, Tesla had delivered 88,400 vehicles, while in Q4 2019, it shipped 112,000 vehicles.
Note: This is a conservative figure
Tesla added in its statement, "Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more."
Of course, this is a major milestone
Achieving these figures is a major milestone for Tesla, as for most of the last three months its Fremont factory was closed due to COVID-19-related shelter-in-place orders enforced across California. The production at the plant was halted on March 23 and was resumed on May 12 when Musk defied the lockdown orders given by the Alameda County. Tesla even sued the local authority.
Musk also said he was ready to be arrested
Now, production is back at normal levels, Tesla said
Following Musk's audacious steps, Tesla managed to ramp up production and make deliveries beyond expectations. "While our main factory in Fremont was shut down for much of the quarter, we have successfully ramped production back to prior levels," the company said while noting that it manufactured as many as 82,272 vehicles during the second quarter of 2020.
Musk told employees Tesla could break even by July
The announcement came just a day after Musk congratulated his employees for their "amazing" work in these difficult times. Importantly, the billionaire tech mogul also noted that if things go as planned, the company could break even by the time it reports financial figures for the second quarter. After this email, Tesla's stock has soared and its valuation went above that of Toyota.
