Tesla is looking to use its $1 billion investment in electric vehicles to help the company generate cash to help it grow.
Tesla CEO Elon Musk has said that his company plans to sell electric cars by 2020 and generate $1.6 billion in cash to invest in electric cars.
With the Model S and Model X, Musk said, Tesla’s goal is to build cars that are the best in their class, and it will make a profit by charging customers on the electricity it generates.
But if the company is able to sell a car like the Model 3 that offers a range of 200 kilometres and a price tag of $40,000, Musk’s goal will be realized, but not at the cost of a lower-priced electric car, according to a Wall Street Journal article.
In order to make the financial gains that Musk wants, Tesla is investing in two things: making the electric cars itself and investing in the development of the battery packs used in those cars.
Musk’s company is developing battery packs that are capable of storing as much as 400 megawatts of energy, or enough power to power 1,000 electric vehicles.
The electric car industry has been in a financial crisis, according a study by the Economic Policy Institute, an independent research organization.
In 2017, Tesla sold almost 1,100 Model 3 cars, but the company has struggled to keep up with demand.
Tesla also plans to build a factory to manufacture its batteries and its electric vehicles, according the Journal.
The company said that it expects the factory to be completed by 2020.
On Tuesday, Musk told investors that he wants to see the price of electricity falling below $40 per kilowatt hour by the end of 2021.
Musk has been one of the most outspoken critics of climate change and has said Tesla would make money from the sale of its electric cars if it could not generate enough of the electricity to make a dent in the world’s energy needs.
While Musk has not disclosed the exact figures of his investment, the Journal article estimates that Tesla will pay about $1,400 per kWh for a Model 3, or about $3,600 per kWh with an annualized cost of about $2,600.
Musk has previously said that Tesla has to find ways to make its vehicles more environmentally friendly to reduce its emissions.
If Tesla can find ways for its batteries to generate enough electricity to keep the cars running, it would reduce its carbon footprint, said Jeff Dvorkin, director of the Energy Policy Program at the Center for American Progress.
Musk says he has not yet made a decision about the sale and expects to do so in the next few years.
For now, Musk says that the electric car market is not an easy one to enter, but that it is growing at a rapid pace.