Robots Will help Tesla to become as valuable as Apple, says Elon Musk

Tesla CEO Elon Musk in an interview has stated that he can make his company as important as Apple by “going at the machine that makes the machine.”

As per a MarketWatch report, 3 Tesla producing centers throughout the United States will soon begin checking out the company’s innovative robotics machinery and software to crank out the Model 3 car, its batteries and solar panels developed under Musk’s new SolarCity merger.

Another Tesla factory located in California, which is closed for renovations, used to produce 100,000 automobiles annually. When it resumes with the upgraded machine-making equipment, Musk thinks it could be churning out five times that many by 2018.

“I think this is just going to be a very hard thing for other makers to copy,” Musk stated. “I have no idea what to do if I were in their position.”

Apple manufactures much of its items abroad through contacted services, which Musk believes is where his company might find its edge through proficiency of automation. Tesla also uses contract production for a few of its parts, however, while both companies provide comparable maintenance services through walk-in areas and remote digital updates.

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