Tesla has reported better-than-expected 2020 vehicle deliveries, driven by a steady rise in electric vehicle adoption across the world’s largest economies. This is even despite a global pandemic in which some of its facilities were shut down due to shelter in place guidelines.

The company delivered 499,550 vehicles in 2020. Although it is above Wall Street estimated of 481,261 deliveries, according to Refinitiv data, it still falls shy of Tesla CEO, Elon Musk’s, target.

Musk had set a target of half a million deliveries for 2020, but the numbers show Tesla is 450 vehicles short. Musk had mentioned the goal as achievable in an email to employees but the goal could be higher internally according to Electrek.

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It was in an earnings call five years ago that Musky had first made the 500,000 prediction.

“I do remain confident about half a million cars in 2020, and maybe being able to exceed that. That’s five years from now. If you go five years in the past for Tesla, we were producing 600 cars per year — now we can produce 600 cars in three days. So I think going from here to 500,000 cars a year is a much smaller leap,” he said.

It’s been a phenomenal year for Tesla, with the company seein its stock rise by 695%. It now ranks amongst the most valuable companies in the world with a valuation of $650 Billion. It’s also the most valuable automaker in the world.

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