Tesla Motors Inc (TSLA) CEO Elon Musk Hopes For Copycats

Updated on

Tesla Motors Inc (NASDAQ:TSLA) has created an electric vehicle which most who have driven it agree is fun to drive. But instead of wanting to hog all of the success the company has found in EVs to itself, CEO Elon Musk actually sees a bigger picture.

Musk: “I don’t know why they’re taking so long”

Musk spoke at a number of town hall events held in Norway, Germany and the Netherlands this week, according to Forbes contributor Mark Rogowsky. Tesla owners and enthusiasts attended those meetings, and he answered questions on a variety of topics, including potential competition from older, bigger automakers.

The executive said they basically want other automakers to follow in the path they have set by creating “compelling electric cars.” He also said he hopes that they do copy Tesla Motors Inc (NASDAQ:TSLA) so that the shift to sustainable transportation will happen faster.

Musk provides insight into Tesla’s future

He also talked about the massive battery factory they are planning to build. He said it would be able to produce 30 gigawatt hours of batteries every year, which would be enough for over 400,000 vehicles. That would also be more lithium-ion batteries than Taiwan, Korea and China produced combined in 2012. He didn’t say when that factory would be built, but he said it will be tied in with the production of their Generation III vehicle, which is expected in 2017 and will be priced at around $35,000. In the long run, Musk believes Tesla Motors Inc (NASDAQ:TSLA) has the potential to be churning out millions of EVs.

He also talked about how they are changing manufacturing and the design of powertrains. They’re also planning to send out a software update allowing for more customization regarding the suspension height of the vehicle and other things. The executive also talked about possible upgrades to the already luxurious interior of the vehicle, like making the seats more comfortable, and continuing the rollout of their Supercharger network.

Tesla’s sustainability questions

Musk also addressed concerns that it takes more energy to produce Tesla Motors Inc (NASDAQ:TSLA)’s cars than it does traditional cars. He said they did a study to examine how much of each metal is used and how much energy is required to build their batteries and found that to receive a payback in energy, drivers have to drive fewer than 10,000 miles in their Model S.


Leave a Comment