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Musk: Upcoming Model 3 Could Generate $20 Billion Per Year
The Model 3 electric sedan Tesla Motors Inc. aims to begin building late next year could generate $20 billion in annual revenue and $5 billion in gross profit for the company, CEO Elon Musk predicts.
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The Model 3 electric sedan Tesla Motors Inc. aims to begin building late next year could generate $20 billion in annual revenue and $5 billion in gross profit for the company, CEO Elon Musk predicts.
Reaching that level would mean annual sales of roughly 550,000 of the $35,000 cars, depending upon their actual selling price.
Musk estimates such volume would generate a gross profit of about $5 billion per year. But he says a “modest capital raise” may be needed to fund the electric car maker’s ambitious product plan.
Last week Musk said Tesla plans to roll out a small SUV, pickup truck and prototypes of an electric shuttle and heavy-duty truck—all within the next few years. He tells reporters the program will likely cost tens of billions of dollars over several years.
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