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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 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.


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