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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 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.

"What would I do? I'd shut it down and give the money back to the shareholders." -- Michael Dell, after being asked what to do with Apple Computer in 1997

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