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Companies & Markets

Tesla's Musk says Model 3 could generate US$20b in revenue per year

Published Tue, Jul 26, 2016 · 11:52 PM
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[RENO] Tesla Motors Inc Chief Executive Elon Musk said on Tuesday that the company's Model 3 could generate US$20 billion in revenue per year and an annual gross profit of about US$5 billion.

A "modest capital raise" could be needed to fund Tesla's strategic plans and new products in the plan could cost "tens of billions" over time, Mr Musk said at a press conference at the official unveiling of Tesla's battery "gigafactory" near Reno, Nevada.

REUTERS

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