Record deliveries

The number of electric cars Tesla handed over to customers in 2021 is 936,172, almost double the previous record of 499,647 cars in 2020. The company said in a statement released on Sunday.

The increase in deliveries was 87%. Meanwhile, 308,600 electric cars were handed over to customers in the last quarter of 2021, almost a third of the total.

As a result, the company managed to sell more vehicles than it produced during the year (930,422 units).

A number of market analysts have raised their ratings and target prices on Tesla shares this year, looking to the company's future doubling of production capacity through the launch of two new plants.

Wall Street analysts predict Tesla's deliveries will be around 1.4 million electric vehicles in 2022. That would be an increase of about 50% over 2021.

Wedbush analyst Dan Ives gives Tesla stock a "buy" rating and a target price of $1,400. Tesla shares closed Friday at $1056.78.

Tesla was founded by American entrepreneur Elon Musk in 2003. The company is headquartered in Palo Alto, California. At first, the firm specialised solely in the production of electric cars, but later became involved in the creation of solar panels and other energy storage systems as well. In October 2021, the company's market value exceeded $1 trillion for the first time.