Mercedes-Benz GLE Gets New PHEV Powertrain, Fresh Look

More

2024 Mazda CX-90 Plug-in Hybrid SUV Unveiled

More

Audi Activesphere Concept is luxury crossover that turns into a pickup

More

Volkswagen Group delivered 572,100 all-electric vehicles in 2022

More

Truemag

  • Electric Car News
  • Electric Car Reviews
  • Plug-in Hybrids
  • Technology
  • Home
  • About Us
  • Privacy Policy
  • Advertise
  • Charging Map

Tesla reports Q4 results, says Model 3 rollout on track

Tesla Inc. has released its fourth quarter and full year full-year results and assured investors that it is on schedule to produce its long-awaited Model 3 electric car.

Tesla Inc. is ramping up spending before the launch of the Model 3, leading to a reported net loss of $121.3 million in the fourth quarter.

Tesla reported revenue of $2.3 billion in the fourth quarter, topping Wall Street’s target of $2.18 billion and an increase of 88 percent from $1.2 billion in 2015. An increase in vehicle deliveries — up 27 percent to 22,252 from 17,478 — helped drive the surge in revenue.

The automaker said it is on track to begin Model 3 output in July with deliveries beginning in the second half of 2017. Tesla temporarily halted production at its Fremont, Calif., plant this month to prepare for the Model 3, and began test vehicle production this week.

The company plans to produce 5,000 Model 3 electric vehicles per week before the end of the fourth quarter of this year, and reach 10,000 per week “at some point in 2018,” Tesla said in its shareholder letter.

During the fourth quarter, the company said it received a record number of orders for its Model S electric sedan and Model X SUV, and it expects to deliver 47,000 to 50,000 Model S and Model X vehicles in the first half of the year.

The company intends to produce 500,000 vehicles annually by the end of 2018 and 1 million vehicles by 2020.

Tesla also said production has begun at its Gigafactory on battery packs for its cars and for electrical storage at homes, businesses and utilities. And more Gigafactories are on the way. Tesla said it expected to finalize locations “for Gigafactories 3, 4 and possibly 5” soon.

The company already has one Gigafactory in Nevada, where it makes batteries and will make Model 3 components, and a second factory in New York where it makes solar power products.

Feb 22, 2017Blagojce Krivevski
2017 Volkswagen e-Golf rated at 119 MPGe combinedVolvo XC90 Best Seller in Belgium in January
You Might Also Like
 
Tesla Motors Delivers Record 24,500 Vehicles In Q3
 
Tesla delivered record 201,250 electric vehicles in Q2 2021
Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

February 22, 2017 Electric Car Newstesla, tesla motors
Follow Us
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
Recent News
2023 Hyundai IONIQ 6 SE Long Range RWD Achieves EPA-Estimated Driving Range of 361 Miles
February 1, 2023
Mercedes-Benz GLE Gets New PHEV Powertrain, Fresh Look
February 1, 2023
Skoda Enyaq iV vRS slides into Guinness World Records titles with incredible 7.351 km ice drift
February 1, 2023
Adventure-ready Nissan Ariya unveiled for epic Pole-to-Pole expedition
February 1, 2023
ChargePoint and Stem to accelerate deployment of EV charging and battery storage solutions for DC fast charging
February 1, 2023
About
ElectricCarsReport.com ElectricCarsReport.com is a website dedicated to pure electric vehicles and the full range of consumer information and tools about electric cars, green technology energy, and the environment.
Latest News
2023 Hyundai IONIQ 6 SE Long Range RWD Achieves EPA-Estimated Driving Range of 361 Miles
February 1, 2023
Mercedes-Benz GLE Gets New PHEV Powertrain, Fresh Look
February 1, 2023
Skoda Enyaq iV vRS slides into Guinness World Records titles with incredible 7.351 km ice drift
February 1, 2023
Subscribe

Sign up for our newsletter to receive the latest news and event postings.

Get in touch

Email: [email protected]

Archives
  • facebook
  • twitter
  • google-news
  • linkedin
  • youtube
  • instagram
  • feedburner
DMCA.com
© ElectricCarsReport.com | All Rights Reserved.