2013 Tesla Model S Production Set for 400 Per Week by December


  • 2013 Tesla Model S Detail

    2013 Tesla Model S Detail

    Production of the 2013 Tesla Model S will hit 400 units by December. | November 05, 2012

Just the Facts:
  • Production of the 2013 Tesla Model S will hit 400 units per week by December, according to a company letter to shareholders posted on the Tesla Web site on Monday.
  • Tesla said it was manufacturing just five cars per week at the beginning of the quarter.
  • Tesla said it has "successfully transitioned to a mass production car company."

PALO ALTO, California — Production of the 2013 Tesla Model S will hit 400 units per week by December, according to a company letter to shareholders posted on the Tesla Web site on Monday. The manufacturing update came as Tesla reported its third-quarter loss had increased to $110.8 million or $1.05 per share from $65.1 million or 63 cents per share a year ago.

Tesla said it was manufacturing just five cars per week at the beginning of the quarter. Tesla said the production ramp-up means it has "successfully transitioned to a mass-production car company."

"The third quarter was a fundamental turning point for Tesla as we successfully transitioned to a mass-production car company, growing from manufacturing five cars per week at the beginning of the quarter to 100 cars per week by the end," the letter said. "That rate has doubled since last month and is now at over 200 cars per week or 10,000 cars per year, which is at the critical threshold needed for Tesla to generate positive operating cash flow.

"One month from now, we expect Tesla to double production again and achieve the target rate of 400 cars per week or 20,000 per year."

The letter, which was signed by Elon Musk, Tesla product architect and CEO, and Deepak Ahuja, Tesla chief financial officer, noted: "We are at a turning point in history where, for the first time, a purely electric car is a better product than any gasoline car."

The letter said "progress on the full electric powertrain for the Mercedes-Benz EV continues on schedule."

Tesla said it delivered 253 Model S sedans and 68 Tesla Roadsters in the quarter.

Edmunds says: Tesla reported a bigger third-quarter loss but had encouraging news about Model S production.

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