Tesla To Build 10-12 Gigafactories In Coming Years: Elon Musk

Technology billionaire Elon Musk has said that Tesla might construct "at at least 10 or 12 gigafactories" in the years ahead. Musk has also teased another gigafactory site to be picked later this year.

In its annual shareholder meeting, which was dubbed the Cyber Roundup recently, Musk spoke of the growing popularity of Tesla's driver assistance system, which is referred to as full-auto-driving (FSD) Beta, according to sources.

"We're currently at 40 million miles, and I'm guessing that by the time this year comes around, we'll have more than 100 million miles" Musk stated." We're still attempting very well to see widespread adoption of FSD beta this year in North America," he said. Tesla will soon allow non- Tesla EVs to utilize the charging system.

Musk has said his long-delayed Cybertruck (announced in the year 2019) will be announced shortly, although Musk didn't provide additional details. The previous month, he announced that Tesla hopes to start shipping the Cybertruck by mid-year.

The Tesla CEO has stated that the company hopes to reach the 2 million car production rate by the end of the year. In the course of the ceremony, Tesla shareholders approved the three-for-1 stock split that will bring Tesla's shares down to around $300.

Tesla announced $16.93 billion in revenues in the second quarter, and automotive sales accounted for $14.6 billion of its total sales. In the earnings call, Musk said that Tesla's new factory in Berlin reached 1,000 cars per week during June.