Tesla Produces Its 10 Millionth Electric Vehicle at Fremont Factory
The milestone took six years after Tesla built its one millionth car in 2020.
Tesla produced its 10 millionth electric vehicle this week at its Fremont, California factory, becoming the first dedicated EV maker in the world to reach eight figures in production.
What Happened
The company announced the milestone Wednesday in a post on X. The achievement came six years after Tesla built its one millionth car at the same plant in 2020. By comparison, it took Tesla a dozen years to reach that initial one-million mark. Chinese automaker BYD hit 10 million new energy vehicle sales back in 2024, though that figure includes both battery electric vehicles and plug-in hybrids.
Why It Matters
Ten million vehicles represents a midpoint toward the 20-million operational milestone tied to CEO Elon Musk's roughly $1 trillion pay package approved by shareholders last year. However, Tesla faces an uncertain road ahead. After delivering a record 1.81 million vehicles in 2023, the company posted two consecutive years of declining sales amid an aging vehicle lineup and intensifying global competition. The Cybertruck has underperformed expectations as a volume seller, and the robotaxi rollout remains limited to a few Model Y units operating in the Bay Area, Texas, and Florida, most with human supervisors onboard.
The Bottom Line
Tesla reported a surprising 25% year-over-year sales increase in the second quarter, boosted by high gas prices spurring EV demand in Europe. The automaker also launched its longer-wheelbase Model Y L in the U.S. this month and is reportedly developing a smaller Bolt-sized EV. Sustaining investments in AI, robotics, and autonomous driving will require Tesla to sell significantly more than 10 million vehicles.
