Last night, Elon Musk took the stage at Tesla’s 2022 Annual Meeting of Stockholders. He officially announced that Tesla has now produced more than 3 million electric vehicles. It was an impressive milestone for a company that struggled to reincarnate the EV industry in its early days. Elon indicated on many occasions that Tesla, for various reasons, had almost bankrupt multiple times throughout its journey.

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In recent years, Tesla has made tremendous improvements in the mass production of pure electric vehicles. The Texas-based company built almost half of its total production in the last one and a half year. Giga Shanghai is the clear champion here, as the Chinese factory doubled Tesla’s production pace in less than a year. According to the latest information disclosed by the EV-maker, the Shanghai factory’s annual production capacity is around 750K. Its daily production rate will be ramped up to 2,600 vehicles before the year ends, bringing annual capacity to almost 1 million EVs.

Tesla will build 10-12 Gigafactories in total

Tesla still has a long way forward to be the production giant Elon wants it to become. There are four EV manufacturing plants that Tesla operates today; Fremont, Giga Shanghai, Giga Berlin, and Giga Texas. The automaker will build 6 to 8 more gigafactories in the future. Each factory will be designed to handle at least 1 to 2 million EV production annually. There is no certain timetable for the future factories but Elon heavily hinted that Tesla is looking for a third EV factory location in the North America region, including Canada, Mexico, and United States.

From what we understand, Tesla is certainly planning on increasing its annual output to almost 20 million vehicles in the next decade. This figure will make Tesla become the world’s biggest automaker. The company will not only produce passenger cars but also electric trucks, pick-ups, and MPVs as well.