Tesla's production of electric vehicle reaches 1 million

Tesla CEO, Elon Musk, announced on Tuesday that the company had produced one million cars so far. Musk congratulated the "Tesla team" for this achievement. The news of this figure came as Tesla's shares took a tumble of 13% on Monday.

This announcement comes at a time when several large automakers like BMW have decided to enter the electric vehicle segment. Volkswagen too started the production of their electric car in November 2019.



Musk also said that he was looking for locations in the central United States to build a new factory for the company's electric pickup truck.

Cybertruck, a wedge-shaped pickup, is expected to go into production in late 2021 and start selling for a price of just under $40,000.

Tesla in late January said it had started production of the Model Y, its electric compact sports utility vehicle, at its factory in Fremont, California, and planned to deliver the first vehicles by the end of March.

Tesla did not immediately respond to a request for comment after regular business hours on Tuesday. Musk in January also said that Tesla needed to increase its battery capacity to produce high-capacity models like the Cybertruck. He took to Twitter last month to ask users if the electric carmaker should build a new gigafactory in Texas.