Tesla Motors Inc. is betting on the potential of the next generation of electric cars to take on Tesla Motors, which is in a race to bring electric cars onto the market in 2020.
Tesla’s goal is to offer more than 200,000 cars by 2020, with a goal of 300,000 by 2021.
It expects to sell an estimated $4 billion worth of the new vehicles in 2020 and could sell as many as 3,000 vehicles a day in 2021.
The company has been bullish about the prospects of the electric car market, which has been buoyed by the Tesla Model 3 electric sedan.
Tesla Chief Executive Elon Musk has predicted that by 2020 the U.S. will have over 200,00 electric vehicles on the road.
He also expects the U,S.
to overtake Europe as the largest market for electric vehicles by 2025.
Tesla will invest $5 billion to create more than 400 new jobs by 2021, according to a memo from Musk dated Aug. 6.
Tesla’s CEO told employees that his company is on track to bring back to market more than 1 million vehicles by 2021 and that he expects the company to have a sales volume of 1 million cars in 2021 and a net income of $30 billion.
Musk said in a memo to employees that the company will not make a profit of $1 billion in 2021, even though the company expects the Model 3 to sell around the same number of vehicles in 2021 as the Model S sedan.