In Tesla’s first-quarter shareholder deck, the company said, “We plan to grow our manufacturing capacity as quickly as possible. Over a multi-year horizon, we expect to achieve 50% average annual growth in vehicle deliveries.”
Meanwhile, Tesla is struggling with the high costs of building out and starting up production at new factories in Austin, Texas, and near Berlin in addition to its Fremont, California, and Shanghai plants. CEO Elon Musk has said the new factories are costing Tesla billions, and still have not yet been able to make enough vehicles and batteries to justify their costs.
As startups and legacy automakers offer more new electric vehicles, Tesla’s share of the global and domestic EV market is expected to decrease but remain substantial.
