I am surprised by the number of people here as well as on Twitter confusing between "annualized" and "annual". If I make 1% trading a stock in one day then the annualized return is (1.01^365 - 1) * 100 = 3,678% but that's not the annual return!

In case of Tesla, I think the annualized target production of 500K cars was calculated over 3 quarters (please feel free to correct me).