Tesla Motors Inc (NASDAQ:TSLA) Plans To Do A Lot In The Next 4 Years


Tesla Motors Inc (NASDAQ:TSLA) has a very ambitious plan for the next four years. Here are some of the things the company hopes to accomplish

Completion of the battery factory

Tesla’s giant battery factory, which is 5.5 million square feet, is key to the company’s future since it will bring down the cost of batteries. The plant is approximated to be ready for production in 2020 and will help the company cut cost by as much as 30%

Production of Model 3

Model 3, which will be a relatively cheap Tesla at $35, 000 is expected to enter production in late 2017, with deliveries expected in 2018.

Increasing Tesla cars range to 1,000 kilometers per charge

The current highest range per charge is 800 kilometer by Model S. This is furthest that anyone has driven a Model S. Elon Musk, Tesla CEO noted back in September that they could break 1,000 kilometers within a year or two. That is probably 2017.

Make cars fully autonomous

Tesla has already rolled out, semi-autonomous systems and looks to launch full autonomous vehicles by 2018. Musk has already indicated that Autopilot is a super high priority for the company. He further stated he is looking to achieve Level 2 autonomy within a two-year timeline.

Scale up car production to 500,000 in 2018 and 1 million in 2020

In 2015, Tesla made 50,000 vehicles, but Musk has already pointed out that the company plans to produce not less than 500,000 vehicles by 2018. The expected spike demand of model 3 will lead to the company produce 1 million cars by 2020.

Double the number of superchargers

An increase in production should be meet by an increase in superchargers. Tesla plans to double the current number by 2018.

Turn Tesla into an energy company

Musk envisions a company that does not only produce electric cars but also produces energy that powers these cars. The company is reportedly seeking to acquire Solar City, a solar power company.

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