Tesla electric vehicle production will hit 20 million per year by 2030, Musk

Tesla electric vehicle production will hit 20 million per year by 2030, Musk

October 1, 2020 0 By Tami Hood

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That would mean that the EV automaker will grow to over 50 times its 2019 levels.

CEO Elon Musk started the week with a tweet indicating that Tesla electric vehicle production will “probably” reach an annual 20 million vehicles before the close of 2030.

According to Musk, this will require the EV automaker to achieve “consistently excellent execution”.

If Musk is correct, it will mean that the Tesla electric vehicle production will be 50 times higher than it was in 2019 when it produced 365,000 EVs. That said, 2019 had been a successful manufacturing year for the company, which made 50 percent more that year than it had in 2020.

In the quarter that ended in December 2019, the company broke its own records for producing its electric vehicles by making almost 105,000 units. Still, Musk has also stated that he expects the company to make over 30 million new vehicles each year within the next 7 years. He also added that it would be “possible, but unlikely” for the company to reach that target within the next five years.

Musk is sticking to this Tesla electric vehicle production forecast even as the pandemic hurts sales.

Still, last week, the CEO emailed every Tesla staffer, stating that the EV company would be posting a record quarter for the three months ending with September, provided that staff rallied to the task.

The company’s sales were considerably down during the first half of the year. Tesla recorded a 15 percent drop in sales during that first half when compared to the last half of 2019. For Tesla to truly achieve that record quarter as Musk suggested was possible, its sales would need to have risen by over 20,000 from the quarter before.

September 22 brought Tesla’s much-anticipated “Battery Day”. The CEO took the opportunity to talk about improvements made to batteries which would result in cheaper manufacturing while still offering greater power payoff. However, Musk also stated on Twitter that this new battery tech would not be apart of large-scale production until 2022.

Tesla electric vehicle production - Tesla CarMusk also used that day to announce the price of an upcoming autonomous Tesla electric vehicle production, for which the vehicle will come with a price tag of $25,000.