CEO Elon Musk reaffirmed Tesla's goals last quarter, saying it will produce 500,000 vehicles per year by next year and 1 million by 2020, which is significantly higher than its current levels. Tesla's production goal for the first half of 2017 is 47,000 to 50,000 vehicles. High demand for Tesla's upcoming Model 3 will help Musk achieve his goals, assuming the company does not run into production delays.