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Automobiles

Tesla 2020 deliveries beat estimates supported by China boost

EV maker starts production of Model Y small SUV in Shanghai

Tesla CEO Elon Musk speaks during a ceremony in Shanghai. The Shanghai factory is currently Tesla's only production facility outside California.   © Reuters

Tesla on Saturday reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption, but narrowly missed its ambitious full-year goal during a punishing year for the global auto industry.

The company delivered 499,550 vehicles during 2020, above Wall Street estimates of 481,261 vehicles, according to Refinitiv data -- but 450 units shy of CEO Elon Musk's target.

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