Elon Musk Suggests Big Tesla Factory Expansion Plans

Tesla Chief Executive Elon Musk said Thursday that the electric-vehicle maker is likely to need roughly a dozen factories to reach its goal of selling 20 million vehicles annually by 2030.

An announcement about Tesla’s next factory location could come later this year, he said at the auto makers’s annual shareholder meeting, held at its Austin, Texas-area factory. Tesla currently has four car plants.

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