Tesla Gigafactory Texas and Berlin could be the key to the electric car maker’s accelerating demand for its vehicles in 2021, according to Loup Ventures’ Gene Munster and David Stokman. Tesla reported delivering 180,570 vehicles in Q4 2020, making a total of 499,550 deliveries last year—give or take about 0.5%.
Loup Ventures reported that Tesla’s deliveries were up 61% year-over-year in December compared to 44% in September 2020 and 23% in December 2019. Tesla Model 3 and Model Y made up 89% of the company’s total deliveries, highlighting the importance of the vehicles to the company’s expansion.
The venture capital firm believes that Tesla’s Q4 2020 vehicle production and delivery report suggests that demand for the company’s all-electric vehicles are “rapidly accelerating.” To meet the increasing demand, the construction of Tesla Gigafactory Texas and Berlin are vital in 2021.
This year Giga Texas and Giga Berlin are expected to finish their initial construction and start vehicle production activities. Both Tesla Gigafactories are expected to kick off operations with the production of the Model Y.
Giga Berlin’s final permit approval may be announced next month, which should help the electric car maker meet its target for the factory’s start of production. While Gigafactory Texas is shaping up as one of the largest Tesla factories to date, its construction seems to be moving at an impressive speed.
“While the production road may be bumpy, adding risk to Tesla’s ability to make cars fast enough in 2021 to meet analyst estimates, it does not change our view that Tesla is best-positioned to have leading EV global market share over the next decade,” wrote Loup Ventures in a recent report.
Check out Gigafactory Texas’ construction site below.