Recent footage taken of the Fremont Factory suggests that Tesla’s (NASDAQ:TSLA) end-of-quarter production and delivery blitz is well underway. With mass numbers of Model 3 and Model Y being spotted in the factory premises and with the site seemingly operating like a well-tuned machine, it appears that Tesla is determined to make this quarter its best Q1 yet.
The recent aerial footage was provided by drone operator Gabeincal, who has been observing Tesla’s Fremont sites over the past months. In the recent flyover, the drone operator was able to spot rows upon rows of Model 3 and Model Y waiting to be delivered. The facility’s holding lots seemed very busy as well, with numerous car carrier trucks loading Model 3s and Model Ys for delivery.
Tesla’s end-of-quarter pushes have been almost expected among the electric vehicle community, especially over the past years when the company was only relying on the Fremont Factory to produce all its cars. This year, Gigafactory Shanghai, whose Model 3 and Model Y facilities are already building cars en masse, is able to augment Fremont’s numbers, perhaps allowing Tesla to hit the targets set forth by Wall Street.
Wall Street appears to be setting the bar relatively high for the electric car maker. In a recent note, RBC Capital Markets estimated that Tesla would be delivering 170,000 vehicles in the first quarter of 2021. RBC cited Gigafactory Shanghai as a notable contributor for this number, especially considering the facility’s ongoing ramp of the Model 3 and Model Y.
RBC expects Tesla to deliver 164,800 Model 3/Y and only 5,300 Model S/X, though this estimate might be off considering that customer deliveries of the refreshed flagship sedan and SUV are yet to begin. The firm also expects Tesla to produce around 96,000 cars from Fremont and about 74,000 vehicles from Gigafactory Shanghai.
During the Q4 and FY 2020 earnings call, Elon Musk remarked that he is confident Tesla could maintain growth in excess of 50% per year for many years to come. Considering that Tesla delivered half a million cars in 2020, Musk’s target is quite ambitious, and it would require the company to deliver more vehicles every quarter than ever before.
Watch a recent flyover of the Fremont Factory in the video below.