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Electric carmaker Tesla Inc. (NASDAQ:TSLA) has announced that it has produced its one-millionth car, and in the process, it has become the first company to achieve such a milestone.

Tesla expected to launch its Model Y car soon

Tesla CEO Elon Musk announced through his Twitter account in which he includes a photo of a red Model Y car. He congratulated his teams for achieving this huge milestone for a company that has been around for less than two decades. 

In 2003 when the company was founded, a lot of people didn’t believe that it’s could hit such a milestone of producing one million electric cars. But the company has beaten odds and managed to create there electric car programs, which are Model 3, Model S, and Model X.  The company is now about the launch its latest vehicle, the Model Y, which Musk shared on a photo on Twitter. 

Based on the company’s current targets, it could hit two million units sooner than expected. In its recent earnings report, Tesla stated that it is expecting to ship more than 500,000 cars this year. Other established car manufacturers such as the Volkswagen Group (OTCMKTS: VWAGY) and Toyota Motor Corp (NYSE: TM) produces more than ten million cars each year. However, Tesla hitting one million units is a huge accomplishment for a startup that produces only electric cars.

Tesla starting production outside the US

Tesla has begun producing electric cars outside the US with Gigafactories in China and German. Last year the company made its first delivery of cars produced at the Shanghai Gigafactory. The company is targeting an annual production capacity of around 150,000 electric cars at the location. Tesla has also started preparations to build its fourth Gigafactory in Germany after they received a go-ahead with the cutting of trees after environmental groups had opposed it.

The company expects to commence the shipping of Model Y cars this month ahead of its original schedule of “fall 2020.” Tesla is also planning to go into the production of its Cybertruck in late 2021.