Electric Vehicle Dynamics: Tesla’s Rise, Toyota’s Stance, and What Investors Need to Know
Tesla sold 1.8 million full EVs in 2023, a 31% increase over 2022. During an event in 2020, Elon Musk stated that Tesla would develop the production capacity to eventually produce 20 million EVs each year before 2030. To put that level of production into perspective, the entire global auto sector currently produces 70-80 million vehicles per year. Musk’s 20 million vehicle prediction by 2030 would represent twice the production volume of Toyota, which produces 10 million cars today.
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