Musk claims Tesla could produce 20 million vehicles per year by 2030

Date:29 September 2020 Author: Kyro Mitchell

Elon Musk is known for making bold predictions about his many business ventures, and his latest forecast regarding Tesla is no different. On Monday, 28 September Musk took to Twitter predicting Tesla could produce 30 million new electric vehicles a year by 2030.

A few of Musk’s followers misunderstood his tweet, believing Tesla alone would be producing that quantity of vehicles, but Musk quickly corrected them, going on to state- “That’s total market, not all Tesla. We do see Tesla reaching 20M vehicles/year probably before 2030, but that requires consistently excellent execution.”

Musk has quite the way to go before his company is able to achieve the ambitious goal of producing 20-million vehicles per-year. According to the second quarter of 2020, Tesla managed to produce 82,000 vehicles, which equals to around 328,000 on a yearly basis.

Another issue with reaching this goal is the fact that Tesla would have to produce and sell 20-million vehicles each year, which means the average price of a Tesla vehicle would need to drastically decrease, which the company appears to be already working on. During the Battery Day event that took place last week, Musk announced that Tesla plan on launching an electric vehicle which would cost around R426 981 [$25,000] in the next three years. Tesla’s cheapest vehicle is the Model 3, which sells for R648 253.

Image credit: Pixabay

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