When it comes to the advancement of Electric Vehicle (EV) technology there are few companies in the world as proactive as Tesla. This week they released their final quarter figures for 2014 and the manufacturer is not meeting their own internal expectations. Elon Musk however is optimistic and aspires to bring massive growth to the company.

Although sales figures fell short of their expected sales of 33,000 vehicles the manufacturer still managed to sell 31,205 cars. The brand unfortunately didn’t meet their target for the year and ended it with a loss of $108 million. Despite this this company still has its place in the EV market. Globally the BMW i Series sales are falling slightly short of Tesla’s figures, managing to sell only 17,800 of their i3 and i8 models in 2014. However, the EV market only accounts for 1% of the 1,811,719 cars sold by BMW in 2014. BMW saw year-on-year growth of 9.5% in 2014.

Tesla CEO, Elon Musk, this week announced his plans of 50% growth a year and his ambition is to deliver a stock valuation of $700 billion to the company within 10 years.

At present the valuation of Tesla is estimated at $27 billion. Since their figures were announced their stock price has dropped by 4.66%. According to reports Mr Musk has said that he expects the company will have positive cash flow by late 2015.

It has also been announced that Tesla will produce batteries which will be strong enough to power houses and businesses. They say that this will be a reality with production set to start within six months. Mr Musk said, “We are going to unveil the Tesla home battery, the consumer battery that would be for use in people's houses or businesses fairly soon.”