Tesla (TSLA) Plans to Pump Out 100K Electric Cars a Year

Advertisement

Elon Musk, CEO of Tesla Motors (TSLA), is predicting that the company will be able to put out 100,000 electric cars a year by the end of 2015.

tesla-tslaMusk predicted that half of the 100,000 Tesla cars being made a year will be the current Model S and that the other half will be the upcoming Model X. He doesn’t expect sales of the Model S, which has been on the market for 2 years, to decrease despite its roughly $100,000 price tag, reports Businessweek.

For the year of 2014, Tesla plans to produce 35,000 vehicles. The company has noted that it already has a lot of interest in the Model X, despite the fact that it hasn’t been released yet.

Musk also noted that the company will be creating its own batteries and that not outsourcing will save it money. It’s also looking to increase the speed of its repairs by hiring Formula 1 repair teams to train its workers, Businessweek notes.

Tesla is expected to release another new car, named the Model 3, in 2017.

TSLA shares were up 2% as of Monday afternoon.

More Tesla (TSLA) News


Article printed from InvestorPlace Media, https://investorplace.com/2014/08/tesla-tsla-2/.

©2024 InvestorPlace Media, LLC