Home / Social Media Marketing / Elon Musk thinks automated manufacturing will help make Tesla worth as much as Apple

Elon Musk thinks automated manufacturing will help make Tesla worth as much as Apple

Tesla CEO Elon Musk thinks he can make his company as valuable as Apple — by “going at the machine that makes the machine.”

MarketWatch reports that three Tesla manufacturing facilities across the U.S. will soon start trying out the company’s advanced robotics machinery and software to crank out the Model 3 car, its batteries and solar panels made under Musk’s new SolarCity merger. Another Tesla factory in California, which is closed for renovations, used to produce about 100,000 vehicles per year. When it reopens with the upgraded machine-making machinery, Musk believes it could be churning out five times that many by the end 2018.

“I think this is just going to be a very difficult thing for other manufacturers to copy,” Musk said. “I don’t know what to do if I were in their position.”

Apple manufactures much of its products abroad through contracted services, which Musk thinks is where his company might find its edge through mastery of automation. Tesla also uses contract manufacturing for some of its parts, however, while both companies offer similar maintenance services through walk-in locations and remote digital updates.

“If we’re able to maintain a 50% growth rate for 10 years and achieve 10% profitability number and have a 20 P/E, our market cap would be basically the same as Apple’s is today,” Musk said in 2015. “Now, that’s going to require a bit — on the order of $ 700 [billion]. Obviously, getting there will require some significant capex.”

This story originally appeared on Copyright 2017

Social – VentureBeat

About Social2Step - Social Media Marketing Article Resource Website. Social Two Step is the definitive guide to all your social marketing reference material including Facebook Marketing and Twitter Marketing. Social Media Management Service Available to build up your Facebook and Twitter audiences -
Timber by EMSIEN 3 Ltd BG