Tesla Fremont and Giga Nevada have built 3 million cars

$Tesla(TSLA.US)$ $BYD COMPANY(01211.HK)$ $NIO Inc(NIO.US)$ $XPeng(XPEV.US)$ The article reported that Tesla has celebrated the production of three million cars across its Fremont factory and Gigafactory Nevada, just under two years after surpassing two million at the sites.

Earlier this year, Tesla also begin producing the updated Model 3 “Highland” in Fremont, after the vehicle launched in the latter half of 2023 in many other markets. Tesla also launched a highly anticipated Model 3 Performance configuration for the refreshed sedan, starting at a price tag of $54,990 in the U.S. before the federal or local tax credits, and following a few price adjustments.

My Take: Tesla EV production has doubled in efficiency and reduced in cost thanks to the state-of-the-art technology. Evidence has shown that Tesla's rivals like BYD, Nio and Xpeng are facing huge loss or significant shrink in margin.

2. BYD's net profit in Q1 down 47% from Q4 as car sales decline 33%
3. Xpeng Q1 2024 Revenue down 49.8% QoQ Net Income still negative

Someone, who commented that Tesla EV is boring, failed to tell you the company announced and rolled out two upgraded Model 3 - Highland and Performance. Cybertruck started mass production in Q4 last year. Tesla Model 2 and Robotaxi will be unveiled soon and don't forget Tesla Semi.