The tech mogul’s forecast is based on the assumption that demand would come from two primary sources. First, he anticipates that “people each want one,” suggesting widespread adoption for personal use. Second, he expects significant demand from various industries, further boosting the potential market size.

Musk went on to provide a hypothetical scenario to illustrate the economic implications of his prediction. “So, if they do sell at even a volume for $20,000, that’s $200 Trillion,” he calculated.