Elon Musk Thinks Tesla Can Dominate EV Production By 2030

Mar. 28, 2022 8:24 PM ET by Nikesh Kooverjee Industry News / 16 Comments

You want to build how many cars, Elon?!

Last week was a big moment for Tesla as operations began at its Berlin factory, resulting in the first German-built Model Y rolling off the production line. This surely comes as a relief for the brand who has been required to fill the ever-increasing demand for its products.

Acknowledging this with confidence at the plant's official opening was the company founder Elon Musk, who declared a rather bold goal for the electric brand. Based on the current demand and drastic increase in production plans, with more facilities across the world set to be constructed, Musk seems sure that Tesla will grow to an annual production rate of 20 million vehicles by 2030.

Tesla

According to information sourced by Automotive News, Musk was questioned by the factory workers of the new German plant regarding his claims, to which he responded, "I think it's aggressive, but not impossible, that we could do 20 million cars in 10 years. And that would be a good number because there's 2 billion cars and trucks in the world that are in active use, so 20 million would be then 1 percent of the global fleet per year."

By 2030, Tesla will be faced with a ton of competition from the likes of General Motors, Stellantis, and Ford, not to mention the plethora of executive and premium German EVs on the way. According to Musk, the key to success is Tesla's momentum, which he explained to his workers by saying, "As we are able to ramp production and satisfy demand in our existing markets, then we will be able to expand to other markets and we will also add additional products.

Tesla

In the EV sphere, there's no denying that Tesla has gotten the jump on existing manufacturers as it already has an expansive network and four compelling vehicles that cater to varying needs. Once the imminent Cybertruck arrives, if it ever overcomes its frustrating delays, we can expect the brands' overall global market share to increase even more.

As per Tesla's claims, the new Berlin plant aims to produce 500,000 units on an annual basis once it reaches its peak capacity in 2025. J.P. Morgan details that this year alone, it will produce 54,000 cars, but by next year, this will expand exponentially to 280,000 units. Looking forward, Tesla has plans to announce plans an all-new factory by the end of the year.