Elon Musk wants 1 million Teslas on the road — soon

By Ben Geier
<h1>2015 Tesla Model X</h1> Tesla's innovative blend of minivan and SUV, enlivened by so-called falcon-wing doors for rear-seat passengers, has already drawn $5,000 deposits from 6,000 potential customers. Production of the vehicle, which will cost $70,000-$90,000, is set to begin in late 2014. Range for the seven-passenger all-electric Model X is said to be 270 miles. Some analysts believe Tesla could sell as many as 30,000 a year, which would help support its enormous market capitalization.

2015 Tesla Model X

Tesla's innovative blend of minivan and SUV, enlivened by so-called falcon-wing doors for rear-seat passengers, has already drawn $5,000 deposits from 6,000 potential customers. Production of the vehicle, which will cost $70,000-$90,000, is set to begin in late 2014. Range for the seven-passenger all-electric Model X is said to be 270 miles. Some analysts believe Tesla could sell as many as 30,000 a year, which would help support its enormous market capitalization.
Courtesy: Tesla

Tesla (TSLA), the electronic car company run by Elon Musk, has plans to put 1 million of its cars on the road by 2020, and to introduce a few more models to its lineup.

JB Straubel, the company’s chief technical officer, revealed the company’s plans at a conference in Washington, D.C., on Monday, according to The Wall Street Journal. He said annual sales for the company will eventually by around 500,000, and he reportedly said several times that there are more new cars to come after the Model 3, due in 2017 — although he would not say what those car will look like.

The Model 3 will be Tesla’s first mass-market, affordable car. It is expected to retail at $35,000 and do 200 miles of driving from a single charge.

The Model X, Tesla’s crossover, is scheduled for launch later this year, although it has already been delayed several times.