Elon Musk hints at Tesla hatchback for Europe

LONDON – Tesla chief executive Elon Musk has suggested his company may launch a new hatchback in Europe in the future.

Tesla currently sells two SUVs in the Model Y and Model X, as well as the Model S executive sedan and the Model 3 sedan. However, it does not sell vehicles of a similar size, for example a Volkswagen Golf, a Ford Fiesta or a Mini Cooper.

“Maybe in Europe it would make sense to make, I guess, a compact car, maybe a sedan or something,” Musk said Tuesday at a virtual battery conference hosted by the German government, according to Reuters.

“Cars in the United States tend to be bigger for reasons of personal taste,” he said. “In Europe, (they) tend to be smaller,” added Musk, who edged Microsoft founder Bill Gates to become the second richest person in the world this week.

Musk also told the conference how he encountered problems parking his Model X, which is five meters long, in the German capital of Berlin. “I was driving a Model X around Berlin and we had a hard time finding a parking space where we could get into,” he said.

Tesla also plans to sell a “Cybertruck” vehicle around the world over the next two years. The electric automaker says it will have “the utility of a truck with sports car performance.”

Tesla’s market cap hit $ 500 billion for the first time on Tuesday after its share price surpassed $ 527.48 per share.

The company has been on a tear this year as its share price has more than quintupled. While the brand is largely symbolic, it underscores Musk’s drive for growth. Tesla became the first US automaker to trade at $ 100 billion in January.

– CNBC’s Jessica Bursztynsky contributed to this article.