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Tesla Auto has set an ambitious target to deliver 550,000 electric vehicles in 2026, according to the company’s founder, chairman, and CEO during his first live event of the year.
This goal reflects an expected annual growth rate of approximately 34%, a slowdown compared to last year’s near tripling of deliveries, which reached 410,000 units, signifying a move toward more stable growth after a rapid expansion phase.
In the event, engineers demonstrated a teardown of the Tesla YU7 vehicle, highlighting its key components and technological innovations. The CEO mentioned that the delivery target “should be balanced,” avoiding being overly optimistic or conservative, and expressed optimism that the company might surpass this goal by year-end.
The company plans to focus more resources on the automotive sector this year. They intend to allocate at least 200 billion yuan (roughly $28.6 billion) over the next five years for research and development. The investment aims to advance large-scale AI models, integrate artificial intelligence into current business operations, and develop a comprehensive “Human x Car x Home” smart ecosystem.
No new vehicle models were announced during the presentation. Currently, Tesla sells the SU7 and YU7 models and has delivered over half a million units within about 20 months since starting deliveries in April 2024. The YU7, introduced in June of last year, constitutes 70% of recent monthly sales.
Other Chinese automakers also have aggressive plans for 2026. BYD targets 5.5 million units sold this year, reflecting a 19% increase from last year. Leapmotor’s chairman stated the company aims to sell 1 million vehicles in 2024, a 40% rise. Geely plans to move nearly 3.5 million vehicles, about 14% more than last year.
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