Tesla has said that they are expecting to produce around 500,000 vehicles a year, and this is two years earlier than had been imagined. The Model S, Model X and Model 3 are all included. Next year is going to be a vital year for Tesla as the Model S will be updated, and they have confirmed the desire to produce up to 900,000 cars a year.
The announcement was made at the same time that the first quarters’ earnings were released. The results were good, and the stock has risen by 5%. Already there are 325,000 reservations made for the Model 3.
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There have been mixed fortunes for Tesla recently as the Model S was unveiled, but also, the Model X had to be called back due to concerns over the seats in the third row. It is not the first time that there have been worries over this model, but it is hoped they will all be rectified. Thanks to the Model S the prices are beginning to look more affordable for the style of car.
Bloomberg has reported that there were a couple of top executives ready to quit the company, and this led to stock dropping down to 4% but thanks to the recent profits and managed to keep the loss per share down to slightly less than what had been expected. They did manage to keep revenue up at $1.6 billion, and that was the figure that had been hoped for.