Tesla changes plans: Will not sell 20 million electric cars a year

Latest report reveals that the company is backtracking: expansion is to be scaled back and the focus is shifting.

Tesla Shanghai produces the millionth Model Y

By: Francesco Barontini

Published by: Angel Sergeev

May 27, 2024 at 5:37am ET

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In the end, even when speaking about sales targets by the end of the decade, Elon Musk was a little too optimistic. Indeed, in the latest report released by Tesla, the company admitted that it will fail to deliver 20 million electric cars per year by 2030.

In fact, since the release of these statements, many analysts, doing the maths on growth rates, had expressed doubts about the feasibility of the expansion plan. Not least because it would have meant that Tesla would have come to produce more than twice as much as Toyota, the world's leading carmaker, does now. Now it is the company itself that says current market conditions do not allow this.

A radical change of strategy

Tesla's statement on the revision of its sales targets from now until 2030 is a further sign that the company is increasingly moving away from car production to focus on more profitable activities such as artificial intelligence, autonomous driving and, in relation to these two, the Robotaxi.

Tesla fires again and prepares its humanoid robots

And let's not forget Optimus, the humanoid robot on whose development a team of technicians and engineers is at work, shaping a project with enormous potential. And it's not just Elon Musk saying this, as demonstrated by the moves made by other manufacturers, such as BMW, who are evaluating the opportunities offered by these technologies.

Tesla's other activities:

Tesla joins forces with China's Google for the Robotaxi project?

Tesla Robotaxi is getting closer - the interior revealed in video

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Always one step ahead?

In view of the latest moves, a question arises. Is it not the case that Tesla has realised that the electric car is a fast-saturating market (albeit an expanding one) and prefers to move into areas where the competition is less fierce?

Tesla, after all, has been working since its inception on a wide range of services that have to do with the electric car to a certain extent. One refers to Powerwalls, Solar Roofs and, more generally, all services related to renewables. It could be that, after pioneering zero-emission mobility, interest is now shifting elsewhere. Of course, cars will not be given up, not any time soon, at least (the Model 2 is postponed but not cancelled), but it is elsewhere that the difference can really be made.

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