Tesla Model Y Demand Could Be Stronger Than Anyone's Expecting, TSLA Q3 Report Shows

Eva Fox by Eva Fox October 22, 2020

Tesla Model Y Demand Could Be Stronger Than Anyone's Expecting, TSLA Q3 Report Shows

Featured image: Autogeek

Tesla's CEO Elon Musk has already suggested that Model Y demand could even surpass the major popularity of Model 3. And evidently, the company is preparing to make this a reality. Tesla has taken many important steps to improve its cars, all of which will be employed in Model Y.

The company has developed a special Giant Casting Machine (Giga Press) that will cast the Model Y's rear and front frame in one piece. The development of new battery cells and a new way of packaging them in combination with the use of casting parts gives Model Y a number of advantages in safety, range, economy, environmental friendliness, and energy saving.

At the moment, Tesla is building three new factories on as many continents, and all of them, at least for the time being, are primarily focused on the production of Model Y. In its report on Q3 2020 results, for instance, the company writes that reaching a production capacity of 500,000 vehicles this year will be directly dependent on the quarterly growth in Model Y production in Shanghai.

The report clearly shows that Tesla's main efforts are directed precisely at ramping up Model Y. This seems to indicate that Model Y is incredibly popular. Since Tesla publishes the cumulative delivery data for Model 3 and Model Y, we cannot know their actual ratio. However, judging by monthly figures in the broader EV sales reports, there is a clear trend that Model Y is gaining more and more popularity. Most likely, even greater sales growth is constrained only by Tesla's production capabilities.



In addition to Giga Shanghai, the company intends to begin production of Model Y in Giga Berlin and Giga Texas in 2021, and remain on track to start deliveries from each location in 2021.

"We are currently building Model Y capacity at Gigafactory Shanghai, Gigafactory Berlin and Gigafactory Texas, and remain on track to start deliveries from each location in 2021."

Based on the report, it looks like Model Y for Tesla will be squarely in the spotlight in 2021. This will be the year that Tesla will really focus on ramping up Model Y in every continent it has a factory.

 

© 2020, Eva Fox. All rights reserved.

_____________________________

We appreciate your readership! Please share your thoughts in the comment section below.

Article edited by @SmokeyShorts, you can follow him on Twitter





Previous  / Next