Tesla has made 1 million electric cars, CEO Elon Musk announced
It’s a remarkable milestone. The carmaking business is notoriously competitive and capital-intensive. Before Tesla, it had been decades since anyone had built a substantial American carmaker.
But Tesla is clearly here to stay. Wall Street now values the company at almost $ 300 billion — more than GM and Ford put together. The company has big expansion plans, with a recently launched factory in China and another planned for Germany. If all goes according to plan, Tesla will make its 2 millionth car in just a couple of years — far faster than the decade-plus it took to make the first million.
But Tesla does face some potential headwinds in China. The novel coronavirus has interfered with Tesla’s manufacturing operations there. And a weak Chinese economy may limit demand for Tesla’s luxury vehicles.