Tesla (NASDAQ: TSLA) and Nio (NYSE: NIO), the world’s two leading manufacturers of electric vehicles, each set new sales records in 2020

Tesla announced that it had 180 in the fourth quarter of last yearDelivered 570 electric vehicles, beating its previous record and Wall Street expectations, the electric car maker produced a total of 179 in the last quarter of last year757 vehicles

Tesla delivered 499 for the full year 2020550 vehicles, with the most recent forecast of 500000 vehicles were missed by just 450 electric cars and SUVs at a shareholders meeting in early 2020, Elon Musk, CEO of Tesla, said he expected deliveries to be an implicit range of 477 for 2020 despite the COVID-19 pandemic750 and 514500 cars will reach

The fourth quarter numbers represent a new record for Tesla, which ended up with deliveries of 139 in Q3 2020300 of its best-ever sales Tesla was able to increase vehicle production and delivery by ramping up Model Y production, successfully operating a new car plant in Shanghai, and bringing in new battery cell suppliers to get more out of its high-voltage battery packs to make that power his electric vehicles

Musk has announced that it will increase Tesla’s vehicle sales by around 500 over the next decade000 aims to increase to 20 million per year in 2020 He is planning an electric vehicle that will turn 25Costs $ 000, a cybertruck, a tractor-trailer and a roadster under development

At the same time, the Chinese electric vehicle manufacturer Nio reported that its sales in 2020 had increased to 43728 vehicles have more than doubled. Deliveries have risen steadily for five months in a row and in December 7000 units exceeded, Nio said in a written statement that the Chinese electric vehicle maker has announced plans for its first electric sedan and announced that it will now expand in Europe

The strength of demand reflects the general recovery of the Chinese economy and automotive market In a national quest to become a leader in electric vehicle technology, the Chinese government has aggressively supported the industry with subsidies and the construction of all major charging infrastructures

All-electric vehicle sales in China increased 44% from January to November on an annual basis, down 6% of total car sales over the same period, according to China’s Ministry of Industry and Information Technology

The Nio share was one of the U with the best performanceChinese companies listed in 2020 whose share price rose more than 1100% has risen

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World news – CA – Tesla and Nio announce record sales

Source: http://www.baystreet.ca/articles/stockstowatch/63092/Tesla-And-Nio-Announce-Record-Sales