Elon Musk Promises Up to 12 Gigafactories, and 20 million EVs Produced Annually by 2030

Elon Musk is back to offering big promises for Tesla’s future. This time, he’s claiming Tesla will have up to 12 gigfactories and 20 million units produced annually by 2030.
Written by Jason Crosby
Reviewed by Kathleen Flear
Sep 26, 2022
When it comes to Elon Musk, there’s hardly ever a dull moment—and things are heating up again, it seems. Musk has recently announced that he expects
Tesla
will build an eventual 10 to 12 gigafactories and crank out 20 million EVs annually by 2030. 
These are no small feats, especially considering the company’s recent production delays at their Austin, Texas and Berlin facilities. Is he blowing smoke, or are Musk’s tall proclamations achievable? 
Regardless of whether Musk will be able to follow through on his promises, Jerry certainly can. We’re here to help you shave dollars off your
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Musk announces new lofty goals for Tesla

InsideEVs
reports that, instead of a Twitter post, Musk chose to proclaim the big news at Tesla’s annual stockholder’s meeting. The meeting was full of crucial information. Musk announced that Tesla would eventually build 10 to 12 gigafactories, with each factory producing around 1.5 million to
2 million Teslas per year
. He also asked stockholders to guess which country would be the location of the next gigafactory, with many guessing Canada. 
Although Musk didn’t confirm or deny whether Canada was correct, he did drop some hints indicating that the U.S.’s northern neighbor was soon to receive a gigafactory. 

Where does Tesla currently have gigafactories?

Tesla currently has gigfactories operating in Fremont, California; Sparks, Nevada; Buffalo, New York; Austin, Texas; Shanghai, China; and Berlin, Germany. It’s been a struggle for Tesla to manage their Austin, Shanghai, and Berlin locations in particular.
Shanghai has been plagued by sporadic COVID outbreaks, while Berlin and Austin have encountered semiconductor delays. Both the Berlin and Austin locations have also slimmed down their vehicle paint schemas, offering only black and white models. It should be noted that Musk had previously stated that
Berlin
would be the site of the world’s most sophisticated paint shop—and that didn’t happen. 

Should Tesla fans and stockholders believe Musk’s announcements?

Like anything else that Elon Musk says, it should be taken with a grain of salt. 
With that in mind, though, InsideEVs points out that Tesla was only producing 3,000 EVs about a decade ago, and they reached three million units during the summer of 2022. It’s certainly not out of the question for the EV giant to pump out 20 million in the next 10 years. 
InsideEVs
also reports that production costs at Tesla are more than twice as cheap as they were five years ago, being slashed from $84,000 in 2017 to $36,000 in 2022. Price reductions will also help make building more EVs easier for Tesla. 

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