Electric vehicle giant, Tesla (NASDAQ:TSLA) announced on "X", formerly Twitter, Wednesday that the automaker has reached a new 4680 battery cell production milestone as it built its 20 millionth cell at Gigafactory Texas.
In only four months, Tesla managed to double its overall count of 4680 battery cells. This achievement was announced in mid-June when it reached a total of 10 million cells at Gigafactory Texas by the end of the summer.
Tesla introduced the 4680 battery cell during Battery Day in 2020 as its solution for enhancing the range, power, and durability of its vehicles. Production of these cells has been ongoing for several years, and it's possible that third-party companies may start manufacturing them as early as next Spring.
While some Model Y vehicles produced at the Texas facility have been equipped with these cells, not all of them feature this technology. It's conceivable that Tesla is reserving these cells for the upcoming Cybertruck, which is slated for production and deliveries by year-end.
20 million cells would provide sufficient supply for approximately 24,000 Model Y vehicles.
Shares of TSLA are down 0.33% near end of day trading on Wednesday.