Tesla Inc TSLA will reportedly boost its car sales target in Germany this year, like that Elon Musk-led electric vehicle maker aims to outperform other auto giants like Volkswagen VWAGY and Toyota TM in European country.
What happened: “Our goal is to double sales every year so that we would be around 80,000 units by 2022,” said Tesla Gig Berlin Manager said how reported from the German publication Automobilwoche.
According to Reuters, the EV market leader sold 39,714 cars in Germany last year reported about Tesla’s new German plans earlier.
Tesla did not respond immediately gasoline gas Comments requested at the time of writing.
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Why it matters: Giga Berlin, which opened in March this year, currently has a production rate of 1,000 Model Ys per week and the new target means Tesla needs to increase that number by over 500.
The company’s original goal was to produce half a million electric vehicles from the Brandenburg plant, which it has done dogged with speed and quality issues since its beginning.
Tesla, meanwhile, has slashed delivery times for its best-selling models in China — its second-biggest market outside of the US — to boost its overall profitability.
Giga Berlin and Giga Texas are set to increase Tesla’s annual production by one million cars.
Price promotion: Tesla shares ended Friday’s session down 0.13% at $303.35 before gaining nearly 0.2% in extended trading Gasoline Pro Data.
Continue reading: Tesla is suing to hold Elon Musk “responsible” for “misleading and misleading statements” about Autopilot, FSD.
