Tesla expects to grow again in 2020, despite the fact that this is the most difficult year in the history of the brand, according to CEO Elon Musk.

The CEO said this during the annual shareholders' meeting on Wednesday.

The arrival of an affordable model was also announced during the event.

According to the eccentric Tesla boss, the growth is still largely based on good word of mouth.

In addition, Musk anticipates that the production capacity in Shanghai will eventually reach 1 million copies per year.

That would quadruple the planned number.

Other news that Musk shared during the shareholders' meeting related to the so-called Autopilot system, the collective name for a series of driver assistance systems.

Autopilot will be greatly improved before the end of October, according to the CEO.

Battery Day is all about cost savings

During

Tesla's

Battery Day

afterwards, Musk went into more detail about the technological development the brand has undergone in the field of battery cell and battery pack development.

For example, Tesla wants to more than halve the costs per kilowatt hour, so that affordable models become feasible.

In the long term, the brand wants to market a car that costs considerably less than the 48,980 euros that is currently required for a Tesla.

Within three years, the brand will have a model that will cost about $ 25,000 (21,355 euros), Musk said.

To this end, the production of the battery cells will be overhauled in the coming years.

For example, the brand wants to organize the production process in such a way that it can do in a factory that normally requires four or five factories, according to Musk.

"Tesla will be head and shoulders above other manufacturers when it comes to battery production."

Thanks to the various improvements, Tesla's models will eventually have to achieve 54 percent further on a battery charge.

In the near future, the battery pack should be part of the car's chassis instead of a separate part that is incorporated into the chassis, Musk also said.

Earlier on Tuesday, the Tesla CEO on Twitter tempered expectations by stating that the announcements will not go into production until 2022.

Until then, Tesla will keep the attention with the so-called Plaid version of the Tesla Model S, an even faster version of the well-known model.

The car will be on the market in 2021.