How Big Could Tesla Get by 2030?
Ever since the launch of its first Roadster in 2008, Tesla (NASDAQ: TSLA) hasn't looked back. Over the years, the company has proved many of its naysayers wrong. Tesla can be credited for the ongoing transformation of the auto industry from internal combustion engine vehicles to electric ones. The company is already threatening the decades-long dominance of legacy car companies. Let's see where Tesla could be 10 years down the line.
Tesla sold 499,550 electric vehicles last year. It expects 50% average annual growth in deliveries over a multi-year horizon. It has two factories right now: at Fremont, California, and Shanghai, China. Moreover, it is constructing two more factories, one each in Berlin and Texas. The start of production at its Berlin factory got delayed from the end of this year to early next year while the Texas factory remains on track to start deliveries late this year.
Between 2016 and 2020, Tesla grew its deliveries at an average rate of 65%. The EV maker's annual deliveries rose from 76,230 in 2016 to 499,535 in 2020. Assuming its annual deliveries grow at an average rate of 50% in the next four years, and the rate falls to an average of 25% beyond that, Tesla could be selling nearly 10 million cars by 2030. For some perspective, Toyota (NYSE: TM) sold 9.5 million vehicles in 2020 -- the highest of all automakers in the world.
Source Fool.com
