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The company hopes to reach the goal of building 800 Model S' per week by late 2014

Tesla Motors set a goal to build 400 Model S sedans per week, but in Tesla-like fashion, the automaker has already blown past that number. 

Tesla CEO Elon Musk reported that Tesla is now producing over 400 Tesla Model S' a week without giving an exact number. He added that Tesla's Fremont, Calif. factory has 3,000 employees, which consists of about 2,000 assembly workers.

"We're above 400 a week at the current manpower, and not trivially above it," said Musk.

Musk estimates that his company will sell between 20,000 and 21,000 Model S' this year. He also mentioned that he hopes to reach the goal of building 800 Model S' per week by late 2014. 

It seems like there's nothing Tesla can't do. In May, Tesla repaid its $465 million loan from the U.S. Department of Energy (DOE) nine years earlier than expected from the original 2022 due date. 

Just last month, the automaker won a huge victory in the battle against auto dealers when a North Carolina House committee denied a bill that would block Tesla from being able to sell its vehicles directly to the public. 

Tesla was also successful in other states, such as New York, where a pair of bills (referred to as A07844 in the Assembly and S05725) tried to make it illegal to license -- or even renew licenses -- for all Tesla Stores within New York state borders. The bills were killed off last month as well. 

For Q1 2013, Tesla reported a net income of $11.2 million (a huge increase from an $89.9 million loss in the year-ago quarter). Excluding certain items, Tesla's profit came in at 12 cents a share, which was a boost from a loss of 76 cents a share in Q1 2012. Analysts expected a profit of about 4 cents a share. Revenue also saw a huge year-over-year boost, totaling $562 million (up from $30.2 million in the year-ago quarter). 

Tesla hasn't mentioned when it will release second-quarter results.

Source: Automotive News

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RE: Hahaha
By FITCamaro on 7/12/2013 8:17:48 AM , Rating: 4
No it hasn't. Only for the past 70 years it has. The nation existed for 140 years before that. Henry Ford didn't start building cars on an assembly line because the government gave him money to.

As far as Tesla's patents, they shouldn't be allowed to own them if it was government money that was used to facilitate the research and development that resulted in them.

"Free from dependence on oil"

Yes instead dependent on lithium and other rare minerals that we will rely on from China. Nevermind we have the ability to grow diesel fuel in a manner that doesn't use food. Only water and the sun. Water is the most abundant resource on the planet. We just need cheap energy to desalinate it affordably which we can get from nuclear power. Funny how all these things would result in lots of high paying jobs in America instead of overseas. But lets not look at that at all...

<sarcasm>ELECTRIC CARS! WOOO!!!</sarcasm>

RE: Hahaha
By Flunk on 7/12/2013 9:04:38 AM , Rating: 2
There are plenty of rare earth elements in the USA. All they need to do is go back to mining them. The only reason China controls that industry is that they rolled over everyone else with cheap prices.

All they need to do is raise prices too much and they'll lose control.

RE: Hahaha
By FITCamaro on 7/12/2013 10:14:31 AM , Rating: 2
Except that its hard to mine them in the US with all the environmental regulations that abound. Yes they're looking at reopening mines. But that doesn't change the fact that those resources are even more rare than oil.

RE: Hahaha
By Mint on 7/12/2013 4:14:35 PM , Rating: 3
Stop recycling this debunked rare earth metal FUD. They're needed in NiMH batteries and permanent magnet motors.

Tesla uses lithium-ion batteries and induction motors. There's no more rare earths in a Model S than there is in a gas car.

RE: Hahaha
By Reclaimer77 on 7/13/2013 6:37:29 PM , Rating: 2
Stop recycling this debunked rare earth metal FUD.

Sure as soon as you stop using the peak oil myth that's been trotted out for 40+ years and hasn't been proven once yet.


RE: Hahaha
By 3DoubleD on 7/12/2013 9:14:38 AM , Rating: 2
The entire concept of patents is that these technological innovations are now in the public domain. The government grants you a period of exclusivity for sharing your idea with the public.

"A patent is a set of exclusive rights granted by a sovereign state to an inventor or their assignee for a limited period of time, in exchange for the public disclosure of the invention" -wikipedia

So if Tesla indeed patented anything with government money, it was consistent with the goals of the patent system to begin with, that is, to supply improved technologies into the public domain.

That said, I don't necessarily disagree with anything else you've said. The government providing funding to a company of Tesla's size is certainly a grey area in my mind. I strongly believe in programs to help start-ups get off the ground such that they can develop their technology to the point of attracting investors, this greatly enhances innovation. On the other hand massive loans to scale up manufacturing is another thing; however, in the end, Tesla used the money to bridge a period of uncertainty and gain multitudes of investors - striking many similarities with my start-up example.

While there is risk in the dollars invested by the government in start-ups or larger companies like Tesla, there is also an opportunity for massive gains to the public domain (patents, jobs, ect.), but there are those who view any risk an unacceptable use of their tax dollars. There is no right answer, everyone will have their own opinions as surely as everyone manages their own budget differently.

RE: Hahaha
By Dr of crap on 7/12/2013 12:21:08 PM , Rating: 2
So all patents that where developed while the company these people worked for had loans from Banks and other entities should not own said patents BECAUSE they owed money ay the time of the patent??? GREAT LOGIC!

RE: Hahaha
By darthmaule2 on 7/12/2013 6:19:39 PM , Rating: 2
So, you are saying that because the government loaned them money, they shouldn't be allowed to own the patents they developed?

What if a bank loaned them the money?

Do you realize that most companies borrow money from someone?

Anyway, we have massive lithium reserves and it would be beneficial to at least reduce our oil consumption. And, Tesla is advancing the state of the art of a wide range of technologies. They are advancing science and engineering in ways that will benefit us all. And, that is the type of thing the government should be investing in.

RE: Hahaha
By Dorkyman on 7/12/2013 7:27:08 PM , Rating: 2
I see your point, but what if a VC loaned them money?

It all depends on the terms of the loan. Some want a piece of the company, some just want interest, usually everyone wants collateral.

And no, I don't think it's the job of "government" to invest directly. Assist with infrastructure, sure.

RE: Hahaha
By testerguy on 7/13/2013 11:48:55 AM , Rating: 2
Why does it matter if a VC loaned them the money?

It wouldn't change anything, regardless of who loaned the money.

The government didn't 'invest', and nor would a VC or any other loan be an 'investment'. An investment isn't a loan you demand repayment of - it's an investment you make with the aim of increasing your money many times over with the success of the company.

RE: Hahaha
By tremelai1153 on 7/13/2013 3:45:10 PM , Rating: 2
"As far as Tesla's patents, they shouldn't be allowed to own them"

So by your standard, if a person or a corporation takes out a federally backed loan for a house or office and pays off that loan, they should not be allowed to own the building they paid for because why?

Tesla business plan was strong enough to garnish a $465 million dollar loan, which they paid back with interest and they are a villain and socialist?

Ford Motor Company enters into the same DOE loan program and takes out a $5.9 Billion dollar loan, which they have yet to pay off, and they are Capitalist Captains of Industry?

"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA

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