Tesla Inc’s (NASDAQ:TSLA) Fremont, California manufacturing plant turned out to be the most productive auto manufacturing plant in North America last year ahead of legacy rivals, Bloomberg News reported on Monday, citing industry data.
What Happened: Tesla produced more electric vehicles in Fremont in 2021 than 70 other rival facilities in North America including those of Ford Motor Co (NYSE:F), General Motors Co (NYSE:GM).
Tesla’s 5.3 million square feet Fremont factory produced an average of 8,550 cars a week, the report noted.
In comparison, Ford’s Dearborn plant in Michigan made an average of 5,564 vehicles a week and GM — about 7,500 vehicles a week. Toyota Motor Corp’s (NYSE:TM) Georgetown, Kentucky facility made about 8,427 cars a week in 2021.
Why It Matters: Tesla’s bigger, upcoming factory Giga Texas is expected to begin production in early 2022. Outside of the U.S. the electric vehicle maker currently has a manufacturing facility in Shanghai and is expected to begin commercial production at Giga Berlin in Germany soon.
The Elon Musk-led company has come a long way, ramping up its production exponentially. In 2017, Tesla — for the first time delivered — over 100,000 electric vehicles. It has since grown leaps and bounds, delivering 244,920 electric vehicles in 2018, 367,200 units in 2019 and 498,920 in 2020. In 2021, Tesla delivered 936,172 vehicles, a jump of 87% over 2020.
Price Action: Tesla shares closed 1.47% lower at $930 a share on Monday.
Photo: Courtesy of Maurizio Pesce via Wikimedia
