Electric car company Tesla almost reached Founder and CEO Elon Musk’s goal of producing 500,000 cars in 2020, the company fell short of the delivery goal by just 450 vehicles, or less than 1%. Still, the firm beat Wall Street expectations of 481,261 vehicles, so it’s considered a success.
The news might push Tesla stock higher during the first week of the year, but then again everything seems to push Tesla stock higher. Shares rose about 700% in 2020, even though the company is experiencing slumping sales of its more expensive models and it has never earned a profit without selling emission credits.
With every other car maker on the planet pledging to produce electric vehicles over the next several years, Tesla will have to work fast to maintain its lead in the space.