Tesla solving Model 3 production in 2018 and targets for millions of cars by 2023

Elon Musk and Tesla announced that they are solving their Model 3 production in 2018 and will hit battery cost and other milestones which should translate to millions by 2023.

In the near term in June, Model 3 production will be 5000 cars per week. Tesla will likely do better than 10,000 cars per week later in the year and have battery cells at $100 per kWh. The lower battery price will enable the Model 3 to profitably hit the $35,000 price target.

Battery module prices will get 30% and they will expand to about 12 gigafactories by 2023. Those targets will enable about 3-5 million cars per year to be produced. The low battery cost will enable high volume $20,000 electric cars with 400 mile range. Those wil be electric cars that outclass combustion engine cars.