EV WORLD.COM
Feb 21, 2013 NEWSwire
a d v e r t i s e r
SYNDICATED NEWS
PHOTO CAPTION: Tesla Model S assembly line has turned out nearly 3,000 units in 2012.

Tesla Expects to Turn Profit In 2013, Produce 20,000 Model S

Since launch of production in 2012, Tesla has manufactured 2,750 Model S luxury electric sedans and aims to reach 20,000 annually.

Published: 21-Feb-2013

Silicon Valley start-up Tesla Motors expects to turn a profit in the first quarter for the first time and said it expects to meet its target of producing 20,000 electric vehicles this year.

With the dust barely settled on its highly public tussle with the New York Times over the performance of its Model S sedan, Tesla said it made 2,750 vehicles in the fourth quarter and posted a net loss of $89.9 million during that period. The company recorded $306.3 million in revenue for the quarter.

Tesla said it plans to deliver about 4,500 vehicles in the first quarter, when it expects to make a profit for the first time. That would put it on track to make 20,000 for the year.

READ COMPLETE ARTICLE >>

IMPORTANT NOTICE: To read this Detroit Free Press/USA news story, click the READ COMPLETE ARTICLE link above. This will launch a separate window to the original news source. To comment on this story use the Reader's Comment form below.

<< PREVIOUSNEXT >>
RELATED NEWS ITEMS

EV World's Bill Moore with plugged in Roadster in Telsa's Washington, D.C. showroom.

Michael Degusta, who has a $5000 deposit on a Tesla Model S, uncovers a potentially serious flaw in the company's battery design that could leave inattentive Roadster owners with a $40,000 bill or a useless vehicle.

SolarCity and Tesla are collaborating on energy storage for solar-powered homes.

Tesla is using its battery expertise in collaboration with SolarCity to create energy storage units to provide electricity after the sun goes down.

Tesla will begin Model S deliveries in June 2012.

With reservations topping 10,000 orders, Tesla expects to deliver 5,000 Model S sedans by the end of 2012.

READER COMMENTS

blog comments powered by Disqus