Tesla announced that it has built its 4 millionth electric car, and the rate of production is increasing at an impressive pace.

It took Tesla 12 years of operations in order to build its first million electric vehicles; the automaker achieved that milestone in early 2020.

Now just a few years later, Tesla has repeated the achievement several times as it managed to ramp up electric vehicle production better than any automaker to date.

At its Investor Day event yesterday, Tesla announced that it has now produced its 4 millionth electric car, and it took the automaker only seven months from its 3 millionth milestone:

The 4 millionth Tesla vehicle was produced at Gigafactory Texas in Austin. With new capacity being deployed at the factory and a Gigafactory Berlin, Tesla is now able to produce about two million vehicles per year.

Tesla has a goal to ramp up to produce 20 million electric vehicles per year.

It now has four Gigafactories in operation. It is also expanding Gigafactory Nevada to add Tesla Semi production at the location, and it recently announced Gigafactory Mexico.

Last year, CEO Elon Musk said that he believes Tesla will need about 12 Gigafactories in order to achieve a capacity of 20 million vehicles per year.

The automaker is expected to announce more locations for new gigafactories soon, since it takes a few years to bring each one to volume production and 2030 is coming fast.