Elon Musk’s Tesla took 12 years from its launch in 2003 to build 100,000 vehicles, according to public filings. U.S.- listed start up Xpeng has also created 100,000 vehicles — which came six years after the organization launched.
Furthermore, Rival electric vehicle start up Nio said in April it reached at that 100,000 vehicle production achievement. Nio was established in late Nov. 2014 under an alternate name, and became Nio in July 2017, about four years ago.
These comparisons unmistakably implies the vehicle production contest is getting extremely keen these days – especially China’s electric vehicle organizations that are dashing to increase production, quicker than Tesla did in its initial days.
Tesla has confronted various production delays, particularly in its initial years. The U.S.- based electric vehicle maker has since increased its production limit with new plants in Shanghai and Berlin.
As indicated by Elon Musk, his organization which bargains in electric vehicles crossed the 1 millionth vehicle mark over a year ago in March 2020. Production in the second from last quarter alone reached at 238,000 vehicles. The organization’s shares are up 11% year-to-date.
Xpeng’s U.S.- listed shares are down 12% so far this year. Nio’s stock is down over 25% year-to-date.
In the interim, Chinese electric battery and vehicle maker BYD said in May 2021, it produced 1 million passenger cars in the new energy vehicle category, which includes battery-only and hybrid-powered cars.
BYD’s Hong Kong-traded shares are up more than 25% so far this year. The company’s backers include American billionaire Warren Buffett’s Berkshire Hathaway.