Tesla Motors Building Over 400 Model S EVs Per Week
July 11, 2013 4:51 PM
comment(s) - last by
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
, 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.
This article is over a month old, voting and posting comments is disabled
7/12/2013 6:19:39 PM
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.
7/12/2013 7:27:08 PM
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.
7/13/2013 11:48:55 AM
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.
"And boy have we patented it!" -- Steve Jobs, Macworld 2007
Did You Partake in "Black Friday/Thursday"?
Did You Partake in "Black Friday/Thursday"?
I skipped Thanksgiving to get the Black Thursday deals!
I spent Thanksgiving with friends/family, but I lined up at midnight for the deals!
Skip Thanksgiving? Wait in line? No way, but I'll go out today and see what's left.
I prefer Cyber Monday.
I don't do deal shopping... too much stress, it just isn't worth it.
Tesla Motors Successfully Fights Off Auto Dealership Assault in North Carolina
June 27, 2013, 2:36 PM
New York Bills Try to Ban Tesla Stores, Protect Auto Dealerships
June 24, 2013, 9:31 AM
Tesla Repays $465 Million DOE Loan 9 Years Early
May 22, 2013, 10:20 PM
Quick Note: GM Teases Next Generation Chevrolet Volt
November 20, 2014, 3:26 PM
Audi is Latest to Step Into the Hydrogen Game, Delivers A7 Sportback h-tron quattro
November 19, 2014, 1:41 PM
Toyota’s Mirai Hydrogen Fuel Cell Vehicle Priced from $57,500 in the U.S.
November 18, 2014, 10:23 AM
Honda Still Pushing Hydrogen, Introduces FCV Fuel Cell Concept
November 17, 2014, 8:27 AM
Ford Enlists Wind Energy Corp. to Provide Wind, Solar Energy to Four U.S. Dealerships
November 10, 2014, 10:58 AM
AutoNation CEO Calls Slams Michigan’s “Anti-Tesla Bill”, Chides Elon Musk
November 7, 2014, 6:52 PM
Most Popular Articles
Hack of Sony Pictures Indicates Employees Were Pirating Blu-Rays
November 25, 2014, 4:00 PM
Google Caves to Microsoft and Apple's Pet "Patent Troll" Rockstar
November 24, 2014, 3:30 PM
Report: Samsung Galaxy S5 Sales Have Come in 40% Below Projections
November 24, 2014, 6:58 AM
Xiaomi Aims to be #1 Smartphone OEM Within 10 Years, Apple Urges Caution
November 21, 2014, 9:33 AM
Some High-End Luxury Watchmakers Crack Down Hard on Smartwatch Faces
November 26, 2014, 1:28 AM
Latest Blog Posts
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
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information