Elon Musk: Tesla can make a few million cars a year by 2025

Electric car company Tesla’s stated long-term goal has been to make 500,000 electric cars a year by 2020, but on Tuesday at the Detroit Auto Show, Tesla CEO Elon Musk raised the bar even higher. He said in an onstage Q&A, (live blogged by the Verge), that he thinks Tesla can make a few millions cars a year by 2025.

[blockquote person=”” attribution=””]
“We’re going to keep driving our volume as high as we can because our goal is fundamentally to transition the world to electric cars.”[/blockquote]

Elon Musk, CEO of Tesla, unveils the dual engine chassis of the new Tesla 'D' model at the Hawthorne Airport October 09, 2014 in Hawthorne, California. (Photo by Kevork Djansezian/Getty Images)

Elon Musk, CEO of Tesla, unveils the dual engine chassis of the new Tesla ‘D’ model at the Hawthorne Airport October 09, 2014 in Hawthorne, California. (Photo by Kevork Djansezian/Getty Images)

In [company]Tesla[/company]’s most recent earnings, the company was estimating that it would ship about 33,000 vehicles in 2014, and that’s with selling the Model S only. Tesla’s Model X goes on sale later this year, and down the road its third car, the Model 3, will launch as well.

Musk told the interviewer that by 2020, with the Model 3 on the market and with 500,000 cars sold, it will be a safe bet that Tesla will start turning a profit. Musk said to make the Model 3 work, economically, Tesla has to make everything with the car cost about half as much.

Revolving door for Tesla’s head of China

Tesla’s President of China,┬áVeronica Wu, has resigned after less than 9 months on the job, according to a report in Bloomberg. Wu joined the electric car company in March, after the previous President of China, Kingston Chang, left the company last December. While China is the largest car market in the world and could have huge potential for Tesla, the country is also notoriously difficult to enter. A Tesla exec tells Bloomberg the company remains confident in the Chinese market.

Tesla hovering around $200 per share this week

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