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Tesla to build 10-12 gigafactories in years to come, hints Elon Musk

Tech billionaire Elon Musk has hinted that Tesla would probably build "at least 10 or 12 gigafactories" in years to come, teasing another gigafactory location to be chosen later this year.

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Elon Musk | Tesla Motors

IANS  |  San Francisco 

Musk, the chief executive officer of both Tesla Inc. and SpaceX, has dialed up his political bombast after lobbing a $44 billion bid to buy Twitter Inc. (Photo: Bloomberg)
Elon musk

Tech billionaire has hinted that Tesla would probably build "at least 10 or 12 gigafactories" in years to come, teasing another gigafactory location to be chosen later this year.

At its annual shareholder meeting called 'Cyber Roundup' late on Thursday, Musk reiterated the growth of Tesla's advanced driver assistance system called full self-driving (FSD) beta, reports TechCrunch.

"We're now at over 40 million miles and I suspect by this year we're gonna have well over 100 million miles," said Musk.

"And we're still tracking very much to have widespread deployment of FSD beta this year in North America," he added.

Tesla will soon allow non-Tesla EVs to use its charging network.

Musk said that the long-awaited Cybertruck (announced in 2019) will also be unveiled soon, though he did not give any further details.

Last month, he said Tesla is hoping to start delivering the Cybertruck in the middle of next year.

The Tesla CEO said that the company aims to hit a 2 million car run rate by the end of this year.

At the event, Tesla shareholders approved the three-for-one stock split, which will bring the company's shares down to the $300 range.

Tesla reported $16.93 billion in revenue in Q2 and automotive made $14.6 billion of the total sales.

In an earnings call, Musk said that Tesla's new factory outside of Berlin crossed 1,000 cars per week in June.

--IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, August 05 2022. 11:53 IST
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