Tesla’s Brandenburg, Germany, plant has reached production of 4,000 cars per week, the company announced, three weeks ahead of schedule.
That mark would mean an annual output of more than 200,000 Tesla vehicles if maintained.
The maximum capacity planned for the Brandenburg plant is 500,000 cars a year, which would mean 10,000 per week, the company said previously.
Shares of Tesla jumped more than 4% to US$205 in New York.
The German plant hit production of 2,000 units per week in October 2022 and 3,000 per week in December.
Those milestones came after the initial ramp-up at the plant was slow going, prompting Musk to call it and Tesla’s Austin facility "gigantic money furnaces" back in May 2022.
Now, the Brandenburg plant is producing a third of the Model Y’s that the company’s Shanghai plant is producing — 13,000 Model Ys per week.
That increase will allow the Shanghai plant to be used more for markets outside Europe, namely Thailand, where sales just launched, the company said.
Investors will be waiting to hear more updates at Tesla’s investor day on Wednesday.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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