Output of Tesla Model S breaches 400 weekly target

Article by Anita Panait, on July 15, 2013

Tesla Motors Inc. is producing more than 400 Model S electric sedans weekly as it tries to meet growing demand for the vehicle, chief executive Elon Musk told Bloomberg in an interview. Tesla initially targeted to build 400 cars a week. Musk remarked that Tesla's weekly production rate will reach around 800 vehicles in late 2014.

"I'm very confident we'll get there," Musk told Bloomberg. Tesla had troubles reaching its production target in 2012, causing it to widely miss its 5,000-car delivery goal for the year.

This carmaker had to hire temporary workers and resolve supplier issues, leading it to post a wider loss in the fourth quarter of 2012. Musk expects Tesla to sell around 21,000 Model S in 2013, as the carmaker has recently commenced making deliveries to Europe and Asia.

Tesla's stock have tripled so far this year, after high demand for its Model S sedan helped the carmaker log a profit in the first quarter of 2013. Tesla has yet to publish its results for the second quarter of 2013.

According to the average of 12 analysts' estimates compiled by Bloomberg, Tesla may post a loss of 17 cents a share, excluding some items, in the second quarter of 2013. Musk said that Tesla's site in California boasts of a 3,000 strong workforce, of which 2,000 are assembly workers moving on two daily production shifts.

If you liked the article, share on:

Comments

Recommended

Nissan revealed that the new 2017 Rogue Sport crossover will be priced in the U.S. market at $21,420. Specifically, this is for the front-wheel drive version of the Rogue Sport...
by - April 26, 2017
Remember the E30 BMW M3? Yes, the one from 1990. If you remember it right, it was also the company’s most iconic car and probably one of the best BMW...
by - April 26, 2017
Ferrari is cooking up something interesting for us. The last time they released the 488 GTB was two years ago, followed by a 488 Spider and several versions of it....
by - April 26, 2017
After launching the latest version of the BMW M550i xDrive, the German carmaker is now introducing its diesel counterpart -- the new M550d xDrive (G30/G31). Available either as a sedan...
by - April 26, 2017
A lot of news has been going around about the 2018 Dodge Challenger SRT Demon lately, and people are arguing whether the 840 horsepower vehicle by Fiat Chrysler should be...
by - April 26, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries