Musk’s electrical car enterprise, now the most-valuable automobile firm on this planet at a valuation of $766.11bn, mentioned a lot of its development is right down to gross sales of its Mannequin 3 and Mannequin S automobiles.

The carmaker can also be plotting the discharge of a pickup, named the Cybertruck, and a brand new efficiency model of the Mannequin S, known as Plaid.

Tesla was one in every of two automobile manufacturers, alongside MG, to extend its gross sales within the UK final 12 months, based on figures from Society of Motor Producers and Merchants (SMMT).

The commerce physique estimated that 22,344 Mannequin 3s have been offered within the UK final 12 months and mentioned it was December’s best-selling automobile.

A complete of 108,205 electrical automobiles have been offered within the UK in 2020, up 180pc 12 months on 12 months. The renewable automobiles now account for six.6pc of the general market, leaping from 1.6pc in 2019. General, world gross sales of electrical automobiles grew 43pc final 12 months to greater than 3m, regardless of general automobile gross sales slumping by a fifth.

Different carmakers, together with Ford, Bentley and Jaguar, have pledged to chop petrol and diesel manufacturing.

On Wednesday, Ford mentioned it could spend £720m to replace it Cologne manufacturing facility in order that it will probably produce mass-market EVs by 2023. It mentioned its passenger automobiles in Europe will probably be all-electric by 2030.