Tesla reaches 10 million electric cars produced, half way to Musk's pay-linked targets

Tesla confirmed on social media that it has built its 10 millionth electric car, a landmark reached six years after the one-million mark. This production figure satisfies one of four core objectives that would release the full value of CEO Elon Musk’s $1 trillion compensation plan, which also includes 20 million vehicles built, 10 million Full Self-Driving subscriptions, one million humanoid robots and one million robotaxis by 2035.

Despite strong sales of the Model 3 and Model Y, the company has never delivered 2 million cars in a single year, and a 13 % year-over-year decline in U.S. sales this quarter has forced it to seek buyers in newer regions like Japan, Australia and Lithuania. Competition in the U.S. has thinned as legacy automakers retreat from EVs, yet startups such as Rivian and Lucid Motors still struggle to scale. Tesla’s progress on other goals, such as Full Self-Driving subscriptions and robot development, remains modest, and its adjusted EBITDA of about $3.27 billion falls far short of the $400 billion target needed for the full payout.