Will we see a day when Tesla becomes larger in scale than General Motors? CEO, Elon Musk, thinks so. He made the comments during the Baron Funds Investor Conference. When he was popped the question, optimism ran strong.
“Possibly, it’s not out of the question,” Musk told Tech Insider. Now, to be fair, it certainly is possible. But is it likely? That remains to be seen, especially if words from Bob Lutz are taken to heart.
General Motors builds nearly nine million vehicles in one year. To date, Tesla has built 100,000 vehicles since its inception. To combat this, Tesla has been busy investing in its Nevada-based GigaFactory, which aims to produce more lithium-ion batteries in 2020 than were produced worldwide in 2013. So far, investment at the facility totals $5 billion.
The site is essential if Tesla is to keep its promise on introducing a mass-market electric vehicle to take on the likes of the 2017 Chevrolet Bolt EV. Musk says he envisions production to be around 500,000 cars by the end of this decade.
“We could conceivably go beyond half a million cars there… long-term, I think we want to try to do several million cars,” he said.