Tesla and its CEO Elon Musk are focused on building out factories around the world to complement its Fremont, California, electric vehicle plant where the company started.
The EV maker spent over $1 billion in the past quarter including on new factories in Austin, Texas, and Brandenburg, Germany, and Musk commented after its Wednesday third quarter earnings that he is “amazed” by the progress at the Shanghai, China, Gigafactory. Tesla thinks it can reach 20 million vehicles by 2030.
“I’m not saying for sure we’ll hit 20 million vehicles,” Musk told analysts and investors on the conference call. “But it does seem like a good goal to have because that would mean that we’re replacing 1% of the global fleet per year.”
One question more Tesla watchers have been asking about that global EV revolution is, when will India become a part of it?