Tesla to Increase Model S Production to 400/Week in December
November 6, 2012 10:30 AM
comment(s) - last by
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 article is over a month old, voting and posting comments is disabled
RE: I wanna like this car but Musk and his style is making it hard
11/7/2012 2:56:26 AM
Being big doesn't help, but being long does. Also, total drag is the Cd * Frontal Area, so being big hurts in terms of drag force as well. Clearly having a very low Cd will be critical for electric vehicles to have a reasoble HWY range without going completely nuts with battery capacity (maybe 85 kWhr is already there). I think it is a legitimate bragging right, although one could argue that it damn well better be that low in order to make the range reasonable at all.
Also, I belive the only lawsuit was with Fisker, and I don't think it was necessarily unwarranted. My understanding was that Tesla initially contracted with Fisker to build the chassis; eventually that deal fell through, and then Fisker all of a sudden has the Karma which has a very similar wheelbase and overall size. I think Tesla felt as though Fisker stole their idea. Tesla lost that case anyway, but I don't think it was any type of patent trolling or anything. Seemed like a reasonable lawsuit and a reasonable outcome.
I've seen some cool youtube videos of Musk doing a tour of SpaceX and others of him on Letterman talking about the ModelS, and he seems like a passionate, intelligent person, who understands that in order to be successful you first need to build a great product. You don't start a car or rocket company on marketing skills alone. I'm rooting for Tesla, if for no other reason that to shake up the auto industry in a big and intersting way.
"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins
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
Hot Air? President Obama, G7 Pledge to Eliminate Most Fossil Fuel Use by 2100
June 8, 2015, 5:40 PM
Study Predicts Self-Driving Vehicles Could Rake in Billions
March 6, 2015, 8:34 AM
Dual-Motor Tesla Model S P85D's "Insane Mode" Shocks Passengers
January 28, 2015, 11:18 PM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
BMW Testing Tech to Allow Users to Auto-Park, Summon Cars Via Smartwatch
December 16, 2014, 9:30 AM
Lamborghini Offers Up $6,000 Leather-Bound Android Smartphone
December 12, 2014, 3:12 PM
Most Popular Articles
Kentucky Man Faces up to 10 Years in Prison for Shooting Drone Trespasser
August 13, 2015, 2:58 PM
Microsoft's Windows 10 Leaves Lumia 530 Behind w/ 8 GB Storage Requirement
August 25, 2015, 4:02 PM
Best Buy Rapidly Ramps up Apple Watch Rollout After "Strong" Early Sales
August 26, 2015, 11:42 AM
Future of Lumia Uncertain as Microsoft Lays Off 2,300, Closes 1 of 3 Finnish Offices
August 24, 2015, 6:14 PM
Windows 10 Hits 75 Million Users; Grows Nearly 4x as Fast as Windows 7
August 28, 2015, 10:22 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information