The company said it delivered 499,550 vehicles last year, which was above Wall Street estimates but was 450 unit shy of Musk's targets.

Nonetheless, Musk on Saturday tweeted so proud of the Tesla team for achieving this major milestone at the start of Tesla's, I thought we had optimistically a 10% chance of surviving at all.

Congratulations poured in on Twitter after Tesla to fight the larger auto industry trends of slumping sales, quarterly losses and global supply chain disruptions.

Tesla's share price has risen more than 700% over the last year, but some investors criticized has left for saying at the start of 2020 that it would comfortably exceed 500,000 units for the year.

Looking forward, Tesla has pin hopes on new markets such as Europe and Asia, with competition intensifying in the US as automakers doubled down on their investments in the electric vehicle sector.