The initial deliveries for the Tesla Model X crossover will be postponed to the third quarter of 2015 as the carmaker wants to make sure that the EV will “delight customers.” Tesla chief executive Elon Musk said during the company’s third-quarter earnings conference call that while there is no “big thing” coming, but there are “a whole bunch of little things.”
He noted that people will appreciate that the carmaker “got the details right.” During the call, Tesla said it logged $74.7 million in net loss in the third quarter under generally accepted accounting principles, from $38.5 million in net loss in the same period in 2013. The carmaker managed to nearly double it revenues to $851.8 million in the recent quarter, from $431.3 million in the same period last year.
The higher revenues were attributed to higher sales in the third quarter. Tesla delivered 42-percent more Tesla Model S in the recent quarter to 7,785 units. The carmaker posted $291 million in operating expenses in the quarter, mostly r&d related to Model S engineering upgrades and the Model X launch.
Operating expenses for same quarter last year were $133 million. Tesla disclosed that capital outlays in the current quarter will reach $350 million. At September 30, 2014, Tesla had $2.4 billion in cash and cash equivalents.
During the conference, Tesla gave a forecast of 33,000 Model S deliveries in 2014, as the carmaker completed the assembly-line upgrades at its Fremont site in California this summer. However, the forecast is below Tesla’s 35,000 unit target, no thanks to delays in commencing output of cars with a dual-motor all-wheel-drive system and “autopilot” features.
Tesla is targeting to produce an annual rate of 100,000 vehicles by the end of 2015. Musk remarked that sees a 50-percent surge in orders and deliveries of the Model S in both 2015 and 2016, shrugging off a report in The Wall Street Journal suggesting that demand for the vehicle.
Tesla Model X has been well-tested for safety and is possibly the first SUV to earn a 5-star rating in all categories. This model has basically undergone very stringent crash tests, thus, showing extremely high potential for an SUV.
Model X has this superior crumple zone that takes in the energy caused by high impact collision. Its battery is also placed at the floor pan, providing the Model X with an impressively low centre of gravity. This considerably reduces the risk of turning over during accidents that commonly occur in SUVs. Moreover, Tesla uses steel rail reinforcements on the aluminium pillars to strengthen the roof while keeping the battery and passengers safe and secured.
To avoid accidents, Tesla has equipped the Model X with active safety systems just like the side collision avoidance and the AEB (or automatic emergency braking). All Model X units are equipped with front facing camera, radar plus 360-degree sensors that work along with Tesla’s innovative autopilot system. An over-the-air software update is also available to optimise the SUV’s safety and convenience features on a regular basis.
Aside from offering outstanding safety, the Model X also delivers the cleanest air possible. Driver and passengers can breathe easy with the functional ducts at the front fascia that pass clean air inside the cabin. These ducts work by pushing the air so it goes through the HEPA filter system at all costs.
The Falcon Wing doors on the other hand provide easier entry and are handy for daily use. These doors offer the most convenient ingress and egress within the SUV’s 2nd and 3rd row seats. The Falcon Wing only requires 30cm of space on the sides when opening the door. All doors come with sonar, inductive and capacitive sensors that check if there are any obstructive objects at the surrounding.