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Elon Musk Suggests Big Tesla Factory Expansion Plans

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Tesla Inc. Chief Executive Elon Musk said Thursday that the electric-vehicle maker, which is striving to sell 20 million vehicles annually, could ultimately 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 didn’t say whether the factory count he forecast includes existing facilities such as the company’s four existing car plants.

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