Tesla CEO Musk says market cap could match Apple's US$700b by 2025

[DETROIT] Tesla Motors Inc chief executive officer Elon Musk said on Wednesday the electric car company's growth trajectory could take its market capitalisation to US$700 billion by 2025, matching that of Apple Inc.

Mr Musk told analysts that Tesla's revenue this year could grow to US$6 billion, from US$3.2 billion in 2014.

His 2025 market-cap prediction assumes 50 per cent annual revenue growth and a price-to-equity ratio for the stock of 20.

Mr Musk said Tesla's US$35,000 Model 3 should be in production by the second half of 2017, and that its design will not be as"adventurous" as that of the gullwinged Model X crossover, in order to keep the production schedule on track.

REUTERS