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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 testerguy on 7/13/2013 11:55:50 AM , Rating: 2
Musk didn't even NEED the loans. Are we forgetting the guy was a billionaire already?

I really dislike comments like this (even if it were true).

Lets assume Musk did have enough to fund Tesla (which based on the reply to your comment already made is not the case) - why does that mean he shouldn't be able to get a loan to fund the business? It's a very common, widely carried out practise to not risk your entire fortune on every single project. By securing investment, you are protecting yourself from complete personal financial meltdown. By contrast, the people who are investing will generally do so from a much larger pot and would not be affected to anywhere near the same degree by failure.

It doesn't mean you don't believe in the project, it just means that the consequences of failure (however small you believe the chance is) mean it's not worth risking for you personally, whereas it may make sense for a third party.

RE: Hahaha
By Reclaimer77 on 7/13/2013 12:10:02 PM , Rating: 2
why does that mean he shouldn't be able to get a loan to fund the business?

He absolutely should...

...from the private sector, NOT public money!

"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer

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