Tesla Investor Day 2023: Elon Musk Sets Ambitious Goals

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Tesla is facing growing competition from other automakers and it announced that it plans to sell 20 million electric vehicles per year. This is a long-term ambition for the company, and to achieve this. It plans to build new manufacturing facilities, get involved in the production of battery cells and sell more cars worldwide.

However, Tesla is facing growing challenges from other automakers and investors are concerned about its ability to achieve this goal without providing many near-term details on how it plans to scale up quickly enough.

Tesla's CFO Zach Kirkhorn estimated that achieving this goal would cost around $150-$175 billion, including the $28 billion Tesla has already spent. Elon Musk acknowledged the challenges of scaling up quickly but he and other executives believe they can do it with the right pace of growth.

However one hurdle that Tesla may face is the impact of price on demand as its cars are not cheap! Musk acknowledged this during his recent investor day address when he stated that even small changes in price can have a big impact on demand and therefore require careful planning before making any changes.

Tesla is an ambitious company that has achieved many things that people thought were impossible in the past.

Tesla is entering another frontier: making its own battery cells, which has created a lot of demand due to the competition in the electric vehicle market. Tesla has been working to make its own battery cells and is also investing in further up the supply chain by building a lithium refinery in Texas and a battery materials facility near its factory.

Tesla's goal to sell 20 million vehicles a year by 2020 is ambitious, but it's important to keep in mind that Tesla has achieved many things that people thought were impossible in the past.

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Posted Using LeoFinance Beta



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