Tesla passes huge milestone on road to success

Two years ago Tesla appeared down for the count, but in a massive turnaround the electric car maker has just celebrated a remarkable achievement.

The electric revolution is charging ahead.

Tesla has sold its one millionth car, a significant milestone for a brand that less than two years ago was written off as it struggled to hit production targets and was bleeding cash.

The brand’s enigmatic boss Elon Musk tweeted a picture of the momentous occasion with the one millionth vehicle — a Model Y compact SUV.

Tesla’s one millionth vehicle, a Model Y SUV.

The SUV appears to have rolled off the assembly line in a giant tent the company constructed in the parking lot at its Freemont, California, plant in 2018 to help increase production of the Model 3s.

Congratulations Tesla team on making our 1,000,000th car!! pic.twitter.com/5M99a9LLQi

— Elon Musk (@elonmusk) March 10, 2020

The company has come a long way in the 12 years since the first Tesla Roadster was built, but it still has a long way to go.

The million car mark is substantial but pales in comparison to established car makers. The Ford F-Series pick-up sold about 900,000 in the US during 2019 and more than a million globally. Tesla is currently valued at close to five times Ford on the share market.

Tesla's one millionth car outside its makeshift tent.

Tesla’s second millionth vehicle will come much quicker. The brand has recently begun producing cars in its first Chinese factory at Shanghai and the company has plans for a German factory in the near future.

Musk also tweeted today the company is scouting a location for a new factory in the US to build the Cybertruck electric ute and Model Ys for the eastern US states.

Model Y production for east coast too

— Elon Musk (@elonmusk) March 11, 2020

The Tesla Model Y has been tipped as providing even more growth than the Model 3 because of the popularity of SUVs.

The Model Y shares its underpinnings with the Model 3 and will cost about 10 per cent more due its bigger body. There will be a range of versions including a Performance and Long Range and a cheaper Short Range version will enter production next year.

The Model Y is based on the Model 3 sedan.

Prices in the US start at $US52,990 ($81,500) for the Long Range and $US60,990 ($94,000) for the top-spec Performance. The Short Range is expected to be about $US40,000 ($61,000)

The Model Y will have a range of more than 500km and will reach 100km/h in a supercar-rivalling 3.5 secs.

The first Model Ys will be delivered in the US this month.

US orders are expected to be filled this month. There is no word on Australian deliveries but if it follows the same path as the Model 3 expect the first versions to arrive at some point in 2021.