On Wednesday, after admitting that electric car company Tesla is having trouble keeping up with the demand of their electric cars, Elon Musk stated that he still intends on producing one million vehicles a year by 2020, a prediction the Tesla CEO first made in May 2016.

Musk reassured investors by reiterating this goal during a 2017 fourth quarter earnings call where the company reported its worst quarterly losses to date. But the Model Y, which likely — though nothing’s official — to be revealed later this year, will help it achieve that goal in 2020.

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Unofficial Tesla Model Y concept art by a Tesla enthusiast. 

In order for Tesla to achieve this ambitious milestone, it would need to begin producing the Model Y — the company’s cheaper version of the Model X.

The Model Y is still being developed, and there hasn’t been any official word of where Tesla will be producing the crossover SUV. Musk stated that he will be focusing fiscal efforts on the vehicle and locking down a location for manufacturing during the second half of 2018, with more news to come later this year.

“We are going to make some capital investments towards the end of this year related to Model Y. I don’t want to jump the gun on those, but I think we’ve got a good plan,” he said. “…I think we want to wait probably three to six months before announcing any definitive plans on production location and the details associated with that.”

Tesla’s fourth quarter report report noted it’s ramping up Model 3 production, that alone won’t be able to carry the company to its 1 million car a year objective.

Much like the Falcon Heavy launch, Tesla investors and enthusiasts around the world will be watching to see if Musk can get the Model Y off of the ground before 2020.

Apple’s next iPhone models are almost here, which raises an annual dilemma for consumers thinking about getting a new phone: hold on to what you got until the new slate of phones is released — likely next month — or hunt around for deals on last year’s models?

As the tech world turns its attention to the next range of devices, evidence suggests buyers could grab a discount on used models ahead of the announcement while those in the market for a new phone are likely better off waiting until after the new phones launch to take better advantage of the product cycle.

Ahead of next week’s much-anticipated earnings call, Tesla has published a new patent that appears designed to make its batteries safer.

The new patent was filed in January and published this week, according to a report yesterday by Teslerati. This new energy storage system, as Teslerati notes, introduces a few systems to make sure that one compromised battery cell doesn’t affect the rest.

Tesla has started deliveries of the Model 3 performance edition and dual-motor-upgraded vehicles, marking the start of a new edition of Tesla’s cheapest electric car hitting the roads. The news is a big step for the firm, as it’s worked over the past 12 months to ramp up production and endure a blistering work schedule to expand the company.

Elon Musk has a big plan to take Tesla private. On Tuesday, the CEO revealed his team of advisors that will be fleshing out the financial and legal issues being taking Tesla off the stock exchange, with a view to presenting a plan to the board’s team.

Musk will work with Goldman Sachs and Silver Lake as financial advisors, the latter of which helped Michael Dell take his namesake computer firm private in 2013 in a $24.4 billion deal. A source told Reuters that Silver Lake was working with Musk without compensation and has no plans to participate as an investor in the proposal. Silver Lake contributed $1 billion for the 2013 Dell transaction. Musk will also be using Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors.

Hyperloop just took a huge step to becoming the transport system of the future. WARR Hyperloop claimed the top prize at SpaceX’s third hyperloop competition on Sunday, beating out two other approved teams to record a final speed of 290 mph — even faster than the 240 mph record set by Richard Branson-backed Virgin Hyperloop One in December 2017.