Elon Musk's Goals for the Next Five Years
In part three of an interview series with Automotive News, Tesla CEO Elon Musk, 49, was asked about his goals for the company before he turns 55.
"I think we want to have reached volume production in all the products that have been announced, and maybe a few that haven’t, and have the company be operating in a very solid way that is robust, that even if I were to die, the company would still do really well for a long time," said Musk.
Over the long term, Musk reiterated that Tesla aspires to produce roughly 20 million vehicles each year.
As for shorter term goals, Musk is focused on bringing new factories in Germany and Texas online and getting the Cybertruck launched.
"Well, I mean hopefully we get the — I mean from a Tesla standpoint — get Giga Berlin and Giga Texas operating next year; that would be cool. I don’t know, maybe we will be lucky enough to get Cybertruck into production towards the end of next year; that would be cool. I don’t know if we will succeed or not, but that’s worth trying."
Per Tesla's website, top-spec Cybertruck production "is expected in late 2021." While Tesla delivered Model Y earlier than they had publicly targeted, the Cybertruck timeline appears more challenging to meet or exceed. Musk recently said, "We’ve seen more excitement for the Cybertruck than any product we’ve ever unveiled."
Musk was also asked about succession planning for Tesla, and whether he expected to stay as involved in operations moving forward.
"I think for some number of years in the future I will continue to run the company in a way that I think will enable us to make great products that people love, and provide those products all around the world and just kind of complete the roadmap that we’ve laid out, for many years."
Noting Tesla's valuation compared to other US automakers, Musk quipped, "I think it's probably fair to say that I must be doing something right."
For more analysis on Tesla and the interview, please see the included video.
Disclosure: Rob Maurer is long TSLA stock and derivatives.