Tesla aiming to expand model range, become world’s biggest car maker by 2030

Tesla CEO Elon Musk estimates the company could offer up to 10 models by the end of this decade, in a bid to sell 20 million cars annually – twice what the world’s largest carmaker recorded last year.

US electric-car specialist Tesla has reiterated its goal to sell 20 million vehicles annually by 2030 – double what the world’s current number-one car company, Toyota, achieved last year.

To achieve the bold target, Tesla CEO Elon Musk estimates the company could offer as many as 10 models – double the five vehicles it offers today (Model S, Model X, Model 3, Model Y and Semi).

However, the executive noted to investors and media on Thursday (Australian time) that 10 vehicles is still “not that many” compared to the “hundreds” of types of cars on the road today – and Tesla does not plan to branch out into niche market segments.

MORE: Tesla’s next-generation small electric car another step closer

Tesla Cybertruck prototype shown in 2022.

Tesla says it currently has capacity to produce two million vehicles per year across its four vehicle assembly factories: Fremont, California and Austin, Texas in the US, Shanghai in China, and Berlin in Germany.

The company announced plans for a new factory in northern Mexico, which will lead production of its next-generation small-car range – plus a $US3.6 billion expansion of its Nevada battery factory to build the Semi heavy truck.

Mr Musk’s wording and tone implied the figure of 10 vehicles in 2030 was an approximate figure announced on the spot, rather than a definitive number based on its new-model plans.

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What one of Tesla’s new small cars could look like, imagined by Avarvarii.

While it may appear a significant ramp-up of the company’s plans – to grow from five to 10 vehicles – the Cybertruck pick-up is due to join the range this year, while the Roadster sports car is also in development after a long string of delays.

Tesla has confirmed its next-generation vehicle platform – designed for smaller cars that will be cheaper than today’s Model 3 and Model Y – will accomodate multiple models, while it has previewed plans for a delivery van.

If these vehicles come to market – and the small-car “generation-three” platform spawns two vehicles – Tesla’s line-up would reach Mr Musk’s 10-model estimate.

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