Elon Musk spoke about Tesla plans while attending an industry conference in Detroit. The Chief Executive Officer of Tesla Motors Inc said on Tuesday that he wants to increase the productions of electric cars by 2025. He said that this number should be of about several millions each year. Last year a little fewer than 40,000 electric cars were built by the company.

Musk said in Detroit, attending an industry conference that Tesla will be profitable since 2020. Talking about unforeseen small sales of Tesla electric cars in China, he identified Chinese consumers with their residence in the city area as the main reason for the surprise. He stated that the big problem in the Chinese customers’ mind is the one related to a difficulty in charging the electric car. He added that “We’ll fix the China issue and be in pretty good shape probably in the middle of the year.” According to Musk’s prediction, after 2020 the company will market a car that can fully drive itself. Even if a driverless car will be ready in about five years, regulatory approval will be received in another two or three years.

This summer will be released Model X, a long delayed sport vehicle of the company. Model 3, a higher volume that features a lower price vehicle, will be available two years from now. To reach an annual sales amount of half million units until 2020, the Model 3 will be the one on which the company relies on.

Fiat Chrysler Automobiles (FCA) sold last year in the United States two million cars. The ambitions of Tesla Inc translate in being a real competitor with FCA on the auto market by 2025.

In an Automotive News World Congress Musk stated that investments in new technologies such as the ones used in making of the Model 3 and expanded networks of retail are long time investments. Without them, the company could have already made money. On the matter of potential partnerships, Musk said that Tesla is open to discussions with retailers, but only after company’s shortage in production will not be a problem anymore (like it was the last year).

Elon Musk said that Model S sedans delivered in 2014 reached a number of around 33,000 units. Every Model S that will be built this year has been pre-sold already. About a potential competitor manufactured by General Motors Co, Chevrolet Bolt, planned to be released in 2017, he said that Model 3 will not be affected. He estimated that the production volume of its competitor will be of a few hundred thousand units and this is not a thing to worry Tesla. He added that he will be pleased to see electric cars being built by other manufacturers in the industry.
Image Source: Reuters