Tesla Motors Inc. CEO Elon Musk said on Tuesday that the company’s Model 3 could generate $20 billion in revenue per year and an annual gross profit of about $5 billion.
A “modest capital raise” could be needed to fund Tesla’s strategic plans, and new products in the plan could cost “tens of billions” over time, Musk said at a press conference at the official unveiling of Tesla’s battery “gigafactory” near Reno, Nevada.
