Elon Musk expects to sell millions of Tesla cars per year by 2025

Tesla Motors CEO Elon Musk has announced that the company must produce at least a few million electric cars per year by 2025. In addition, Musk announced that Tesla will be the first automaker to market fully self-driving cars.

Musk made his statements at the Automotive News World Congress, Reuters reports. By 2020, production should have increased to 500,000 cars per year, to produce a few million cars per year by 2025. Musk expressed the expectation that the company will be profitable from 2020 onwards. Tesla sold 33,000 cars last year, production is expected to increase by fifty percent in the coming year and all vehicles that will be produced have already been sold.

Crucial to the huge increase is the introduction of the Tesla Model 3, which will take place in 2017. This model is a completely new design and should probably cost around 35,000 euros. The Model 3 will be Tesla’s fourth model and will be smaller than the Model S. In the summer of 2015, Tesla will also release the larger Model X, a sports utility vehicle.

In Detroit, Musk also stated that Tesla will be the first automaker to deliver cars that can drive fully autonomously. Musk previously indicated that Tesla’s cars could drive themselves within five to six years. Tesla will gradually expand the autopilot function in its cars in the coming years. Sometime after 2020, the cars should be able to drive completely independently.