Tesla's target to produce 500,000 EVs in 2020 requires a production increase in Q4 by a fifth compared to the record Q3.
The increase of production output is a must, as after the third quarter (highly affected by the COVID-19 lockdown), the tally is 329,980 units. The remaining 170,020 cars that would have to be produced in Q4 require a 17.2% production increase over the record Q3 (145,036).
Musk noted that it will be "tough":
“It will be tough but super exciting if we can exceed 500,000 cars made in a single year for the first time in Tesla history. When we started Tesla just over 16 years ago, I never thought we would get this far, but, thanks to your hard work and ingenuity, we actually have a chance of making half a million cars in a single year.”
“It all comes down to Q4. Please take whatever steps you can think of to improve output (while increasing quality).”
Before the lockdowns, Tesla was hoping to not only produce but also comfortably sell more than 500,000 in 2020.
Hopefully, the company will succeed, just to score another symbolic win, as the result of roughly a half-million all-electric cars is a major achievement anyway, regardless of whether it will be 480,000, 500,000 or 520,000.
A great thing is that Elon Musk underlines also the need to simultaneously improve the quality, something that Tesla has to watch carefully.