SAN FRANCISCO: Tesla kicked off an investor event on Wednesday at which Chief Executive Elon Musk is expected to lay out a plan to make a smaller, more affordable electric vehicle that would broaden his brand's appeal and fend off competition.
Capturing the mass market is critical to Tesla's goal of increasing deliveries 15-fold - to 20 million vehicles - by 2030. To do that, Tesla will have to improve its battery technology, which Musk has called the “fundamental limiting factor” for the transition to sustainable energy, making it a likely topic for Wednesday's address.
Tesla has become the world's most valuable car company by far, and the billionaire CEO has aspirations of cracking the mass market and turning the EV maker into a company that can create a more climate-friendly world. But Tesla cut prices in recent months to boost sales, which were pressured by a weak economy and growing threats from rivals in the United States and China.Tesla has promised to talk about expansion and capital expenditure plans, with a wide variety of projects from batteries to self-driving technology to new factories likely to be discussed.
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