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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 SublimeSimplicity on 7/12/2013 9:56:47 AM , Rating: 2
I don't like the government auto "loans" one bit, it was crony capitalism at its best (worst?). However I can't fault Tesla for playing the game by the rules that were set for them.

I think had the government loans not occurred. One or more of the big 3 would have dissolved and Tesla would have been able to buy parts, factories, resources, for pennies on the dollar. They would have succeeded that way.

In my opinion Tesla is successful because they saw an emerging market, attacked it correctly (upscale cars first), and had great engineering and overall execution and vision. The cream always rises to the top, government interference or not.

RE: Hahaha
By FITCamaro on 7/12/2013 10:16:34 AM , Rating: 2
Agree completely. I don't fault Tesla for applying and getting the loan. I fault the government for giving it to them.

And yes all three US automakers shouldn't have been bailed out either. I was screaming against it as all the liberals were screaming for it because it protected their union base.

RE: Hahaha
By darthmaule2 on 7/12/2013 6:29:33 PM , Rating: 2
GWB is a liberal now?

RE: Hahaha
By Reclaimer77 on 7/12/2013 6:44:09 PM , Rating: 2
GWB is certainly the best example to date of a Left-leaning Republican, hell yes. He was certainly no Conservative.

RE: Hahaha
By Dorkyman on 7/12/2013 7:34:17 PM , Rating: 2
Gotta differ with you on that one. I love W and while he promoted a couple of non-conservative ideas, in general he was a pretty solid conservative. Which is a Good Thing.

And a far more competent guy than the loon we now have.

Not much of a public speaker, though.

"Google fired a shot heard 'round the world, and now a second American company has answered the call to defend the rights of the Chinese people." -- Rep. Christopher H. Smith (R-N.J.)

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