Musk's goal is to spur electric vehicle development by his competitors. The theory is that if other automakers can piggyback on Tesla's knowledge to build new models or technology that creates greater demand for electric cars, eventually Tesla will benefit by being able to sell more of its vehicles.
Last year, just 96,000 electric vehicles were sold in the U.S., less than one percent of the industry's total sales of 15.6 million vehicles.
Even Musk, perhaps the biggest cheerleader for electric vehicles in the U.S., admits he's disappointed with the lackluster pace of sales and EV technology.
"I thought things would be much further along than they are," he said. "We unveiled the roadster in 2007 with a 250-mile battery range and it has been seven years, and there is no other electric car in production with that range level. That's not great."
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Recently, Musk said at the company's annual meeting he plans to stay at least another four to five years as Tesla's CEO. Musk also said that Tesla will not pick a final site for its long-awaited "Gigafactory" until the end of the year. The goal of the plant is to mass-produce lithium-ion batteries and lower their cost.
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— By CNBC.com staff and Phil LeBeau, with Reuters