Tesla says it has produced its 10 millionth electric vehicle, reaching the milestone six years after making its first million. The achievement is significant because it puts the company halfway towards the 20 million vehicles required by 2035 for Elon Musk to receive the full value of his shareholder-approved pay package.

Tesla has yet to sell two million vehicles in any single year, and its US sales fell 13% year-on-year in the second quarter, making the 20 million target challenging if growth remains slow. The wider package also depends on targets for Full Self-Driving subscriptions, robots, robotaxis and adjusted EBITDA; Tesla reported nearly 1.5 million FSD subscribers and about $3.27 billion in adjusted EBITDA, while BYD has exceeded 17 million new-energy vehicles, roughly half hybrids.