Sunday, October 2, 2022
News Tesla Wants to Sell 20 Million EVs Annually in 10 Years

Tesla Wants to Sell 20 Million EVs Annually in 10 Years

Tesla has set big goals for itself over the next ten years.

  • Even Elon Musk Says that it is an ambitious plan

  • This would mean increasing the current production by 20 times

  • 20 million vehicles is about 1% of the total number of cars and trucks on the road globally

Tesla is the best-selling EV maker and the most valuable automaker ever, but it is not resting on its laurels.

Indeed, the company’s CEO, Elon Musk, said that his company is aiming to produce 20 million electric vehicles per year by the beginning of the next decade.

Since Tesla produced just under 1 million vehicles in 2021, this means that the automaker is hoping for sales that will multiply by 20 in the space of about ten years. This is a very ambitious goal, which Musk conceded.

To put this number into context, there are currently about 2 billion passenger vehicles (cars and light trucks) on the road around the world. This means that if it were to achieve its goal, Tesla would replace 1% of the entire world fleet every year.

To do so, the company is currently operating 16 facilities around the world to build vehicles and the parts they need. Out of this number, 4 facilities are Gigafactories, the last of which just opened in Berlin.

This new factory alone has a production capacity of 500,000 cars a year, which it should reach by 2025 after a ramp up that will see it produce about 54,000 vehicles this year and 280,000 in 2023.

Another factor that could help Tesla reach this goal is that its market share is ever-increasing, with the automaker having posted its best sales year of all-time in 2021, with 936,172 vehicles rolling off the assembly lines.

This was an increase of about 90% over 2020, when the company ended the year just short of 500,000 units sold.

In the same discussion, Elon Musk also hinted at new products that will be added to the Tesla lineup in the next 10 years. Lets remember that the company already promised the Roadster, the Cybertruck and the Semi, but none of them have showed up on our roads yet.

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