Despite Tesla having a bumpy road to success at times with Elon Musk at the helm, the carmaker has grown leaps and bounds over the past decade. In proper Tesla form, Musk is at it again on Twitter, letting the world know that he thinks he can quadruple the company’s worth in just four years.
According to Tesla, it began in 2003 as the project of a group of engineers focused on making electric vehicles fun and accessible to the masses without compromising performance. Its first model, the Roadster, was released in 2008.
Since then, Tesla has developed and released its EV fleet, including the popular Model S, Model Y, and others. The latest model buzz centers around the Tesla Cybertruck, the company’s EV pickup truck.
Overall, Tesla commands a large share of the EV market. Although its position in the market has lessened with various other automakers releasing their versions of electric vehicles, Tesla’s and others’ EV sales are up. In fact, Tesla sales for 2021 alone are set to surpass the combined sales of the last few years.
What Elon Musk has to say about growing Tesla’s value
Investment management firm Ark Invest recently made valuation claims about Tesla’s stocks, stating that the stock price could reach $3,000 a share. According to TorqueNews, Musk sent out an email to Tesla in agreement in response.
In that email, Musk copied a tweet and wrote that the jump in stock price was possible “If we execute really well.” Currently, Tesla shares go for about $750 each, with some expected fluctuations up and down.
Of course, when Musk refers to executing well, that involves completing several of Tesla’s projects and expansion plans.
Current and future plans that could help Tesla’s rapid growth
Even though Tesla is experiencing soaring sales, quadrupling its stock prices in four years is a big goal that needs to include several factors. TorqueNews breaks down the projects that would make Ark Invest’s and Musk’s comments come to fruition.
Tesla’s new Giga Texas gigafactory in Austin, Texas, is still under construction. It has experienced some delays in the construction process but is slated to be up and running at full production next year. Giga Texas purportedly will churn out the popular Model Y mid-size SUV and later the Cybertruck.
In the European Union, Tesla’s even more significant growth hinges on completing the Giga Berlin gigafactory in Germany. When it opens, the factory will mainly focus on producing the Model Y. With that up in production, Tesla will firmly establish itself as the top EV producer and seller in Europe.
As far as sales in China, the current Giga Shanghai factory will eventually pivot from producing as many Model 3 and Model Y vehicles. Right now, those vehicles are exported for sale in China and Europe.
However, after Giga Berlin is up and running, Giga Shanghai will shift to producing the Model A currently in testing. It is a fully autonomous economical car for consumers in China who can’t afford the Model Y or Model 3.
Besides the boosts from its current and future gigafactories, According to Torque News, Tesla will also have to maintain and exceed the production of its most popular vehicles, the Model Y and Model 3. Then, it will have to finally begin production of the much-anticipated Cybertruck.