Later City News: Elon Musk said Tesla expected to produce 20 million electric vehicles per

year before 2030.

This is more than 50 times what Tesla produced in 2019. Musk also said he expected the electric vehicle market to produce more than 30 million vehicles annually by 2027.

A report published by "Business Insider" shows Tesla will "probably" produce 20 million electric vehicles a year before 2030, its CEO Elon Musk said on Twitter.

Musk said this would require "consistently excellent execution."

The figure is more than 50 times the 365,000 vehicles it made in 2019. It sold 367,500 vehicles – 50% more than the previous year.

In the quarter to December 2019, it achieved record production of almost 105,000 vehicles.

Musk also said he expected the electric vehicle market to produce more than 30 million new vehicles annually within the next seven years. He added that reaching this within five years was "possible, but unlikely."

You can refer to Business Insider to read this paper by clicking here