Tesla Motors expects to conquer automobile industry by 2020

Tesla Motors (NASDAQ: TSLA) wants to be one of the top electric car manufacturers in the world. Looking at the enormous success of the Tesla Model S, the investors for the Tesla Motors are slowly getting inclined towards the fact that these cars will improve even further shortly to bring in even more profits. In a Danish interview, Elon Musk expressed his views to be one of the largest automobile giants by the year 2020.

Many fear of taking a ride in the Tesla Model S over a distance of more than 500 miles, whereas, reports from the company claims that the owners managed to drive 500 miles at low speeds just to maintain the battery level. Other than that, 400 miles or 450 miles are just enough for a city-to-city travel and Tesla shines in that sector. According to the Elon Musk, each year the batteries are getting a gain of 5-10% and by the year 2020, the cars would be efficient enough to travel a distance of more than 700 miles on one full charge.

Tesla is ready for the competition, but still a majority of the cars are still inclined towards introducing models that run on gasoline. To ensure there is a healthy competition, Tesla made all of its patents open-source and apparently, Porsche, Mercedez-Benz, BMW and few other major brands are now coming forward with their electric models. Recent reveals from Porsche at the Frankfurt 2015 made it clear that the companies are now looking forward to introducing battery operated vehicles and compete with the Tesla.

One major problem all of these firms are struggling right now is that the charging takes a lot of time, where filling gasoline is only matter of few minutes. Let’s suppose that your battery ran out of the juice in the middle of a journey, then technically there is no way by which you can travel any further. At least, companies aren’t providing us with any portable power source to charge these cars. These are some of the biggest challenges electric vehicles are facing right now.

Other than this, Tesla cars are some of the most beloved vehicles in the United States. As far the ratings are concerned, the users voted these automobiles with a score of 103/100. The car company is very famous among the folks, but apparently it is taking an enormous loss on the sale of each car. People are still not convinced that the Tesla Model S is one of the cars they need.

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  • I don’t think he expects to conquer the automobile industry by 2020. He expects to produce 500,000 cars per annum by 2020 which would make Tesla the smallest of the large car manufacturers. Of course if he can maintain the growth rate of 50% increase year on year by 2040 he could.