The Electric Car Monopoly
Seeing as Musk is trying to change the world as it is, many readers understood his comment as meaning Tesla alone will be responsible for producing all these cars by 2030. While it is likely, Musk was quick to correct his followers, saying that he was referring to the market as a whole and not only his company. Though he did say that if all goes to plan, his company will probably be responsible for producing around 20 million by or probably before the year 2030. “That’s total market, not all Tesla. We do see Tesla reaching 20M vehicles/year probably before 2030, but that requires consistently excellent execution,” he tweeted.
The Road Ahead
To get some perspective, 2.1 million electric cars were sold globally in 2019, with Tesla selling 367,500 vehicles that year alone. It’s fair to say that it looks like the market and Tesla specifically is heading in that direction. Still, there they have quite the journey ahead before reaching that much-coveted number. In the second quarter of 2020, the company produced a little over 82,000 vehicles.
The Road Bumps
If Tesla wants to grow, they might have to start appealing to different markets. Unfortunately, this brand only seems to be available to people willing to spend a pretty penny. Luckily they have started gearing up for a cheaper product and will be ready in roughly three years to sell $25,000 model.