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Tesla Sets Target for Factory in Europe
Tesla Motors Inc. says it will probably establish a manufacturing plant in Europe for its electric cars after annual sales in the region reach 160,000 units.
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Tesla Motors Inc. says it will probably establish a manufacturing plant in Europe for its electric cars after annual sales in the region reach 160,000 units.
CEO Elon Musk adds "it would make sense" to add factories in Europe and China when the company's global sales surpass 500,000. He previously predicted Tesla would open an assembly plant in China about three years from now.
Tesla expects to sell more than 35,000 of its €61,800 Model S electric sedans worldwide in 2014.
The company expects to launch a Model S derivative, the Model X crossover, in the U.S. in 12 months. European deliveries would begin at the end of 2015, according to Musk.
Tesla currently imports Model S cars from its plant in California, adding their battery packs at a prep center in Tilburg, Netherlands. Musk said last week the company is likely to open a European R&D center in the U.K. within the next two years.
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