Electric vehicle and clean energy company Tesla has shared its financial results for Q3 in 2020 and sees a 39% growth in revenue.

When translated into the number of units manufactured, the automaker produced a staggering 145,036 vehicles this quarter, with 139,300 of them delivered to customers, breaking the company’s previous records. This added to the number of cars delivered this year prior to Q3 numbers more than 319,000, which leaves Tesla another 181,000 to go in order for it to reach its 500,000 goal by the year’s end.

Tesla moves into its fifth consecutive quarter of profitability, as the last quarter saw 39 percent growth in revenue year over year as a result of this increased production, currently sitting at a record-breaking $809 million operating income.

“While achieving this goal has become more difficult, delivering half a million vehicles in 2020 remains our target,” the company wrote. “Achieving this target depends primarily on quarter-over-quarter increases in Model Y and Shanghai production, as well as further improvements in logistics and delivery efficiency at higher volume levels.”

Posted by:Staff

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