Tesla ended 2023 as the world’s largest all-electric car manufacturer. However, it faces stiff competition from BYD moving into 2024 that may jeopardize its top spot.
The company’s annual output potential is estimated at over 2.35 million units based on its Q4 financial report. This number remains stable compared to the previous quarter.
In 2023, the company initially exceeded 1.84 million all-electric vehicles and is on track to surpass two million this year.
After a global factory shutdown in Q3, global production reached nearly 2.0 million vehicles.
For now, the Fremont factory has a potential annual production capacity of up to 550,000 Model 3/Model Y units and up to 100,000 Model S/Model X. In 2023, the factory produced nearly 560,000 vehicles, marking an all-time record.
Tesla’s first gigafactory had exponential growth, and production of its 2170-type batteries is anticipated to increase by approximately 10%. The plant will also undergo significant expansion, with a $3.6 billion investment for 4680-type cell production and the Tesla Semi.
The Gigafactory Shanghai boasts a potential annual production capacity of over 950,000 Model 3/Model Y vehicles. The factory resumed normal rate production in Q4 after downtime in Q3, achieving record weekly production rates for the Model 3.
Giga Berlin in Grünheide, Germany has produced the Model Y since March 2022. The factory hit a production rate of 5,000 Model Y units per week and is estimated to produce 375,000 annually.
The new Tesla Giga Texas factory began Model Y production in April 2022. By May 2023, the plant achieved a production rate of 5,000 Model Y units per week. The plant also produced the Tesla Cybertruck in Q4 2023 and hit a total installed annual vehicle capacity of over 125,000. Additionally, the production of the 4680-type cell at the plant reached 20 million units by October 2023.
Giga Texas will also produce the next-generation vehicle post-2025, with a longer production ramp for the launch of the Tesla Cybertruck.
The sixth gigafactory will be in Santa Catarina, Mexico, where the company plans to start production of its next-generation electric vehicles in the coming years.
Tesla’s total installed manufacturing capacity exceeds 2.35 million units worldwide, distributed across various gigafactories and pilot facilities.
The company’s production sites in the United States, China, Germany, and future facilities in Mexico further solidify its standing as an industry leader in electric vehicle manufacturing.