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Tesla needs 41.1% Year-Over-Year growth rate to reach their goal of 20 Million vehicles produced per year by 2030. This is according to the current production rate of 1.76 million vehicles per year as of the end of Q4 2022.
Tesla has previously announced plans to produce 20 million vehicles per year by 2030. According to recent calculations, this will require the company to achieve a year-over-year growth rate of 41.1%. The company usually targets a 50% YoY growth rate.
This growth rate may seem challenging, but it is not out of reach for Tesla. The company has a track record of achieving impressive year-over-year growth, with rates that have surpassed 50% in the past with 2022 achieving 47.3% with 1.76 million production capacity.
To find the production capacity Tesla has to achieve each year going forward till 2030 with 41.1% year-over-year growth rate, you can use the following equation:
1
P = 1.76 * (1 + G)^Y
Where:
P is the production capacity at the end of a given year
1.76 is the production capacity at the beginning of 2023
G is the year-over-year growth rate
Y is the number of years since 2023
Plugging in the values for P and Y and solving for G, we find that the year-over-year growth rate needed to reach a production capacity of exactly 20 million cars per year by the end of 2030 is approximately 41.1%.
Using this growth rate, we can find the production capacity at the beginning of each year from 2024 to 2030 as follows:
1
2
3
4
5
6
7
2024: P = 1.76 * (1 + 0.411)^1 = 2.44M
2025: P = 1.76 * (1 + 0.411)^2 = 3.45M
2026: P = 1.76 * (1 + 0.411)^3 = 4.95M
2027: P = 1.76 * (1 + 0.411)^4 = 7.09M
2028: P = 1.76 * (1 + 0.411)^5 = 10.1M
2029: P = 1.76 * (1 + 0.411)^6 = 14.5M
2030: P = 1.76 * (1 + 0.411)^7 = 20.0M
To reach its goal of 20 million vehicles per year by 2030, Tesla will need to overcome a number of challenges. These include ramping up production at its current factories, building new factories, and developing new technologies to increase efficiency.
Despite these challenges, Tesla is confident in its ability to reach its goal. The company has made significant progress in increasing its production capacity in recent years, and it has a reputation for innovation and successful expansion.
As the automotive industry continues to evolve, we can expect to see Tesla leading the way with its ambitious goals and drive for innovation. While it remains to be seen whether the company will be able to reach its target of 20 million vehicles per year by 2030, one thing is certain: Tesla’s impact on the industry will continue to be felt for years to come.
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As of: 2024-05-04 08:12
Live Follower Count
Net Worth 🥈
~198.4 Billions
As of: 2024-05-04 08:12
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