Tesla Motors CEO, Elon Musk, told investors Thursday that his company is aiming to produce up to 100,000 electric cars each year by 2015.
These vehicles are set to be shipped early next year. Half of them will be the current Model S sedan, while the other half will be the Model X, according to ValueWalk.
The projection announcement follows the electric car company's recent announcement of breaking ground with Nevada as a potential location for its Gigafactory, a facility designed for producing lithium-ion batteries for the company's electric cars. Tesla is working with Panasonic on the Gigafactory's construction, and both companies plan to reduce the cost and increase the supply of the batteries they need.
There are still speculations about the location of the first Gigafactory, with Tesla set to announce the last site in a few months, Tech Times reported.
In addition to focusing on the Model S and Model X for its 100,000-a-year projection, Tesla is looking for its Model 3 sports utility vehicle to be a success. The car is priced at $35,000, which is half the price of the Model S, which can cost as much as $100,000 with options.
Speeding up its car services has also become a priority for Tesla; new company hires, including Formula One mechanics, will teach others how to build cars in record speed, Tech Times reported. The one-person-per-day arrangement takes several days to finish repairing a car, so the team will work on one car at the same time. Success with the new arrangement could make it possible to complete car fixes within one workday.
Musk mentioned his company's plans to continue Model X and Model S development and Gigafactory construction in a letter written to shareholders Thursday, along with plans to invest between $750 million and $950 million this year to expand its sales, services, and superchargers.
"We have also chosen to slightly accelerate our investments in production capacity and the Gigafactory. It will indeed be a busy second half of the year as we execute on the opportunities ahead," Musk and Chief Financial Officer Deepak Ahuja wrote.
