Oct 2, 2018 - Energy & Environment

Tesla could generate $1 trillion in revenue by 2030, shareholder says

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Photo: Emmanuel Dunand/AFP via Getty Images

Money-manager Ron Baron, whose firm Baron Capital is Tesla's 13th largest shareholder, according to FactSet, told CNBC that Tesla could generate $1 trillion in revenue by 2030 and could sell up to 15 million cars per year.

Why it matters: Baron's prediction is ultra-bullish, perhaps even for a 12-year forecast. While Tesla reported $11 billion in revenue last year, and announced Tuesday that it had met third quarter production goals, there are new questions about whether demand for its vehicles are softer than expectations. Tesla has also seen a tumultuous few months after CEO Elon Musk's "go-private tweet" resulted in an SEC settlement under which Musk was forced to pay a $20 million penalty and step down as chairman of the company.

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