"Maintain Maximum Factory Operation for Remaining 10 Days"... Market Expects Delivery of 144,000 Units
'Battery Day D-1' Reveals Intention for In-House Battery Development
[Asia Economy Reporter Jeong Hyunjin] Elon Musk, CEO of Tesla, forecasted that vehicle delivery performance for the third quarter (June to September) this year will reach an all-time high. This comes a day before the big event 'Battery Day,' where new secondary battery technology will be unveiled, creating a positive atmosphere. Musk also expressed his intention to increase the supply volume from battery makers, including LG. Tesla's stock price rose reflecting these expectations.
According to Bloomberg and others on the 21st (local time), Musk sent an email to employees the day before stating, "We can set a new record for vehicle deliveries this quarter (Q3)," emphasizing, "It is important to maintain maximum factory production possible during the remaining 10 days." He added, "However, achieving this requires hard work," and stressed, "If we do so, it will be the highest delivery performance we have ever achieved." He also urged, "Consider that vehicle delivery is the absolute top priority."
Musk sends emails to employees near the end of each quarter to encourage increased productivity while providing signals about performance to investors. Tesla is operating its California Fremont automated factory and Shanghai Gigafactory at full capacity due to rising demand for electric vehicles and surging orders. Recently, reports have emerged that Tesla plans to produce Model 3 at the Shanghai factory to deliver to Asia and Europe according to orders.
Tesla recorded its highest delivery volume of 112,000 units in Q4 last year before the outbreak of COVID-19. Tesla, which planned a delivery target of 500,000 units this year, delivered 88,400 units in Q1 and 90,650 units in Q2, totaling 179,000 units in the first half. According to a FactSet survey of Wall Street, Tesla's Q3 vehicle deliveries are expected to reach 144,000 units, significantly surpassing last year's Q4 record.
Tesla will hold 'Battery Day' for investors on the 22nd. As a leader in electric vehicles, Tesla is expected to unveil battery-related technologies, attracting attention from the battery and automotive industries. Currently, it is anticipated that Tesla will reveal batteries with extended lifespan and reduced costs.
On the day before, Musk stated on his Twitter that mass production will not occur until 2022. He said, "We intend to increase the amount of battery cells purchased from partners such as Panasonic, LG, and CATL," adding, "However, even if battery cell suppliers provide the maximum volume, if we do not act ourselves, a serious shortage is expected after 2022."
Following this news, Tesla's stock price closed at $449.39 on the New York Stock Exchange, up 1.64% from the previous trading day. Although the overall New York stock market showed a downward trend, technology stocks performed well with Tesla and Apple closing higher.
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