Tesla CEO Elon Musk is hoping to revamp his company’s growth story and bolster its sagging stock price by pledging to double US vehicle production within two years. This comes as markets are losing faith in both Musk and President Trump, who have been criticized for their handling of the economy.
Musk promised to increase Tesla’s US production, despite existing capacity of over 750,000 vehicles annually. He had previously planned to expand with a plant in Mexico but now appears to be shifting his focus to the Austin factory.
The CEO emphasized the importance of growing the “real” US economy, which he believes will enable Americans to have a higher standard of living. However, critics argue that Musk’s cost-cutting efforts may be doing more harm than good, particularly with regards to government services and critical infrastructure.
Musk’s plans for Tesla’s vehicles, including the CyberCab and Model 2, could potentially meet his growth target and help him achieve double US vehicle production in two years.
Source: https://fortune.com/2025/03/12/elon-musk-double-tesla-us-car-production