Tesla plans 500,000 yearly production by 2018

May 5, 2016 | By | In News

Following the extremely high demand seen for its recently revealed Model 3, Tesla has announced that it plans to be building half a million units a year from as early as 2018

Previously, the American electric vehicle manufacturer predicted that it would be reaching the 500,000 mark by 2020, however with pre-orders for its latest and most affordable model exceeding 325,000 in the first week alone, that target has been brought forward.

Boss Elon Musk confirmed his company’s plan to deliver as many as 80,000 – 90,000 new models this year, with deliveries of the Model 3 beginning in late 2017.

Speaking on the incredible amount of pre-orders for the $35,000 (£24,160) saloon, he commented: 'This implies $14 billion in future sales, making the Model 3 introduction the biggest consumer product launch ever. Since then, reservations have continued to grow to surpass even our expectations.'

Despite also saying that 'increasing production five-fold over the next two years will be challenging', Musk hinted that Tesla production could reach a million models per year by 2020.

Referring to the Tesla factory in Fremont, North California he added: 'We actually believe that Fremont and the Gigafactory could scale to a million. Whether that is wise is another question.'

Mass production of Tesla models could also see factories opening across the world, in order to reduce costs of shipping the vehicles to customers.

Only last month, France reportedly offered a former nuclear powerplant to Musk to transform into a European factory, in order to meet demand for the Model 3.

Jack Evans

By

After completing his university studies in English and Creative Writing in Cardiff, Jack is now a full time motoring writer at Blackball Media. His love of cars stems from his childhood years when he began to live and breathe all-things automotive.

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