Tesla would like to capture 1% of all car sales. With its current portfolio of luxury cars, it is unlikely to meet that target by 2028. However, if it launches an entry-level car priced at $25,000, Wood Mackenzie projects that Tesla will meet the 1% target as early as 2024. It has in-principal contracts for battery supply with LG-Chem and CATL for its new factory in China. Production is expected to begin by 2021. It has also announced plans to build a third factory in Berlin. If completed, it will increase Tesla's total production capacity to 1.5million cars a year. Wood Mackenzie projects that Tesla will be demand constrained rather than capacity constrained and will likely manufacture 6 million BEVs by 2028. This is the second in a series of automaker profiles to support our new Electric Vehicles (EV) service. Please reach out with any feedback you have on these profiles as we expand our coverage of the electro-mobility sector.