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Business News » Technology News


ELECTRIC VEHICLES: ELON MUSK-OWNED TESLA AIMS TO SELL WHOPPING 20 MILLION EVS
PER YEAR BY 2030

The EV maker said that they are designing and manufacturing a complete energy
and transportation ecosystem.

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Tesla reported a record $1.14 billion in net income in the second quarter (Q2)
2021, stressing on its climate initiatives for a greener Earth.

Tesla aims to sell 20 million electric vehicles per year by 2030 -- from 0.5
million in 2020 -- and deploy 1,500 GWh of energy storage per year, compared to
3 GWh last year.

In its '2020 Impact Report', the Elon Musk-run EV maker said that its customers
helped accelerate the world's transition to sustainable energy by avoiding 5.0
million metric tons of CO2e emissions last year.





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"Our vehicles emit much less CO2 than ICE (internal combustion engine) vehicles,
considering both vehicle manufacturing & electricity emissions," the company
informed.





"Climate change is reaching alarming levels globally due in large part to
emissions from burning fossil fuels for transportation and electricity
generation. The world cannot reduce CO2 emissions without addressing both energy
generation and consumption," the report mentioned.

Tesla said that usually, vehicles in the US get scrapped after approximately
200k miles but Tesla batteries are designed to outlast the vehicle

"In 2020, a Tesla with Autopilot engaged experienced 0.2 accidents per million
miles driven, while the US average was 9x higher," the company added.

The EV maker said that they are designing and manufacturing a complete energy
and transportation ecosystem.

"We not only develop the technology behind this ecosystem, but we also focus
heavily on the affordability of our products that comprise it. We seek to
achieve this through our R&D and software development efforts as well as through
our continuous drive to develop advanced manufacturing capabilities," Tesla
elaborated.

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Tesla reported a record $1.14 billion in net income in the second quarter (Q2)
2021, stressing on its climate initiatives for a greener Earth.

"Tesla uses no Cobalt and almost none in the nickel-based chemistries. On a
weighted average basis, we might use 2% Cobalt compared to say Apple's 100%
Cobalt," Musk said during the earnings call.

Despite many challenges, Tesla produced and delivered over 200,000 vehicles in
Q2. In the second quarter, the electric vehicle company produced 206,421
vehicles and delivered 201,250 vehicles.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo
through Income Tax Calculator and save money through our Personal Finance
coverage. Check Business Breaking News Live on Zee Business Twitter and
Facebook. Subscribe on YouTube.


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Written By: IANS
Updated: Tue, Aug 10, 2021
06:58 pm
New Delhi, IANS
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