Tesla to Increase Model S Production to 400/Week in December
November 6, 2012 10:30 AM
Tesla also reported its financial earnings of a wider quarterly loss, but higher-than-expected revenue
How is Tesla Motors dealing with its latest (and wider) financial loss in the third quarter? By ramping up Model S production to 400 units per week.
Tesla CEO Elon Musk announced that the company would
of its Model S EV to 400 units per week, or just over 20,000 per year. This is great news for Tesla, considering it recently faced production issues with the vehicle.
Around 13,000 customers have paid a $5,000 minimum fee for a Model S reservation, but only 250 have shipped. This is largely due to issues with increased production. However, Musk announced last month that
Model S production had ramped up
"Our production rate in the last week of September was roughly 100 vehicles, four times greater than our production in the first week of September as we overcame supply constraints," said Musk in October. "I am pleased to report that we completed production of 359 vehicles last quarter (delivering over 250 of those to customers) and have already made our 500th vehicle body.
"While we are indeed a few weeks later than we would like, this is not perhaps a terrible outcome for
a product as advanced as the Model S
, particularly given that Tesla is doing manufacturing of full vehicles for the first time with a new team and suppliers."
In December, Tesla will take production to a whole new level.
"Tesla is really past the point of high risk," said Musk on a recent conference call with analysts. "Several months ago, I said that the coming several months would really be the test for Tesla and the classic phrase of going through the valley of death. I feel as though we are through that valley at this point."
The Model S has been a bright star for Tesla, but unfortunately, that didn't stop it from reporting a wider loss for its Q3 2012 earnings. Tesla said its quarterly loss grew by 70 percent to $110.8 million USD. However, revenue increased 88 percent in the past year to $50 million. This was a nice surprise for analysts, who predicted $48.3 million.
Tesla expects to finish the 2012 fiscal year with $400-$440 million USD in revenue for the entire year.
The Model S received a nice boost last week when
named the Model S its
Automobile of the Year
compared the Model S to Apple because of its luxurious and innovative design, and even said Musk was similar to former Apple CEO Steve Jobs.
The Model S' features include a 40 kWh, 60 kWh, and 85 kWh battery pack options; a three phase, four pole AC induction motor with copper rotor (puts out 416 HP and hits 60 MPH in 4.3 seconds); 443 lb-ft of torque; drive inverter with variable frequency drive and regenerative braking; single speed fixed gear; aluminum body with boron steel elements; 10 kWh on-board charger; 17-inch capacitive touchscreen for media, vehicle controls, communication and keyless entry and door handles that extend to your reach.
The Model S' superior range and luxurious features come at a high price. The 40 kWh base model starts at $57,400 while the 85 kWh version starts at $105,400. However, the Model S is eligible for the $7,500 federal tax credit in the U.S.
"This week I got an iPhone. This weekend I got four chargers so I can keep it charged everywhere I go and a land line so I can actually make phone calls." -- Facebook CEO Mark Zuckerberg
Tesla Model S: Automobile Mag's 2013 Automobile of the Year
November 2, 2012, 2:14 PM
Elon Musk: Tesla to be Cash Flow Positive Next Month, Model S Production Increased
October 5, 2012, 8:11 AM
Tesla Motors Plans to Deploy "Supercharger" Charging Network for Model S
September 25, 2012, 8:14 AM
Tesla will announce electric lorry in September
April 19, 2017, 6:20 AM
Dubai announces passenger drone plans.
February 14, 2017, 7:56 AM
Lucky LA Residence
January 28, 2017, 4:00 AM
Debuted at CES 2017 - Corning Gorilla Glass Concept Car
January 7, 2017, 3:02 AM
Happy, healthy and feastive New Year to you and everyone in the world that about to celebrate the Season Holidays
January 1, 2017, 12:01 AM
In 2017, Here are the New Autos of 2018
December 30, 2016, 5:00 AM
Most Popular Articles
What is the Apple’s iPhone 8 specifications and release date?
April 14, 2017, 5:43 AM
Meet the Smartphone with four cameras - Alcatel Flashphone
April 5, 2017, 11:20 AM
Vivo V5 Plus – the Selfie Softlight is on You.
April 17, 2017, 7:05 AM
Moto G4 Plus - Powerful Unlocked Convenience
April 12, 2017, 6:25 AM
Microsoft releases details of Project Scorpio console
April 7, 2017, 7:50 AM
Latest Blog Posts
Link your Brain to Your Computer – In Four Years…Maybe
Apr 22, 2017, 7:03 AM
Google Home can now identify users by their voice.
Apr 21, 2017, 7:15 AM
Amazon Lex – Now Available for Developers.
Apr 20, 2017, 6:58 AM
You can now use Instagram offline on your Android Smartphone
Apr 19, 2017, 8:00 AM
Now you can livestream to YouTube from your mobile device.
Apr 18, 2017, 8:05 AM
Google Home – Is It a Spy Device?
Apr 17, 2017, 7:30 AM
Apple added to self –driving test permit list
Apr 15, 2017, 6:21 AM
Project Scorpio – Coming on June 11
Apr 14, 2017, 6:20 AM
Looks Like Samsung Has Been Forgiven.
Apr 13, 2017, 6:50 AM
United Airlines - Blasted on China’s Social Network and the Stock Market
Apr 12, 2017, 6:50 AM
Amazon's Third-Party Sellers Hacked
Apr 11, 2017, 6:25 AM
Microsoft Surface Pro5 Details Revealed
Apr 9, 2017, 6:41 AM
Own An Android Phone? Then you could be hacked over Wi-FI
Apr 7, 2017, 6:47 AM
Apple confirms iOS 10.3 bug and its effect on iCloud Services
Apr 6, 2017, 6:30 AM
Apple Rolls Out New Version of Apple Music
Apr 5, 2017, 10:35 AM
Apple in the News
Apr 4, 2017, 9:03 AM
Apple iPhones Will Soon Feature Graphics Chips Designed BY Apple
Apr 3, 2017, 6:23 AM
AMD Ryzen Desktop Processors Performance
Apr 2, 2017, 6:30 AM
What makes a camera Lensless?
Apr 1, 2017, 7:45 AM
Google halts Android Wear 2.0 Update Due to Bug
Mar 31, 2017, 7:27 AM
Uber Technologies Inc Driverless Car hit by Human-driver
Mar 30, 2017, 8:00 AM
Android Creator and New Bezel-less Smartphone
Mar 29, 2017, 10:28 AM
More Blog Posts
Copyright 2017 DailyTech LLC. -
Terms, Conditions & Privacy Information