Tesla produced 509,737 and delivered 499,550 vehicles in 2020, the US electric car maker said on Saturday.

(File photo: CFP)

The delivery number was above Wall Street's estimates but still came slightly short of its annual goal of delivering 500,000 vehicles.

It added that the production of the Model Y in Shanghai is underway, with deliveries "expected to begin shortly."

The company said its net income and other financial results will be released when it announces fourth quarter earnings.