Tesla CEO Musk says considering second U.S. plant, closer to East Coast

DETROIT, Jan 13 (Reuters) - Tesla Motors is planning to build factories in China and Europe and is considering a second U.S. plant, Chief Executive Elon Musk said on Tuesday.

The factories likely would be built after Tesla’s current factory in Fremont, California, reaches full annual production of 500,000 in 2020, Musk said at an industry conference here. He said the second U.S. plant could be “closer to the East Coast.”

Musk also said he expects Tesla will be the first automaker to market with a fully self-driving car, but such autonomous vehicles may not receive regulatory approval for another six to seven years.

The co-founder of the electric-car company said he plans to stay at Tesla “forever,” but may step down as CEO after the company’s next model, the $35,000 Model 3, is launched in 2017. (Reporting by Paul Lienert in Detroit; Editing by Chris Reese)