Elon Musk proposes major expansion plans for the Tesla factory

Tesla Chief Executive Officer Elon Musk said Thursday that the electric car maker, which strives to sell 20 million vehicles annually, may eventually build 10 or 12 factories.

An announcement about Tesla’s next factory location could come later this year, he said at Tesla’s annual shareholder meeting. Mr. Musk did not say whether the factory count he predicted included existing facilities such as the company’s four existing auto factories.