Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Tesla to begin deliveries of Model Y by end of first quarter

Tesla said Wednesday that production of the Model Y started this month with the first deliveries of the all-electric compact crossover to begin by the end of the first quarter as the company pushes to extend its profitability streak.

Production of the Model Y is at limited volume for now, CEO Elon Musk said during a call after earnings were released. Musk added that Tesla’s engineers have been able to increase the maximum EPA range of the all-wheel drive version of the Model Y to 315 miles. It was previously estimated at 280 miles.

Tesla reported Wednesday net income of $105 million, or 56 cents a diluted share, compared with $140 million, or 78 cents a share, in the same year-ago period. Tesla reported revenue of $7.38 billion, 17% higher than the third quarter, but just 1% higher than the $7.2 billion generated in the fourth quarter of 2018.

Tesla indicated in its fourth quarter report that it will turn to China and Model Y for revenue growth as deliveries of its higher profit margin Model X and Model S decrease. Tesla delivered 19,475 Model S and Model X in the fourth quarter, a 29% decline from the same period last year. Meanwhile, deliveries of Tesla’s cheaper Model 3 vehicle continued to climb. Tesla delivered 92,620 Model 3 vehicles in the fourth quarter, a 46% increase from the same period in 2018.

The Model Y is being produced at Tesla’s Fremont, Calif. factory, settling a long-running discussion within the company over where to build the upcoming vehicle. Tesla had also looked at producing the vehicle at its massive factory in Sparks, Nev., where it currently builds battery packs and electric motors.

Tesla said it will ramp up production of the Model Y gradually as it adds machinery through mid-2020. Once these expansions are done, installed combined Model 3 and Model Y capacity should reach 500,000 units
per year, the company said.

Tesla intends to eventually produce the Model Y in China, as well. The company’s Shanghai factory has capacity to produce 150,000 Model 3 vehicles. Tesla has broken ground on the next phase of its Shanghai factory, which will produce the Model Y.

“Given the popularity of the SUV vehicle segment, we are planning for Model Y capacity to be at least equivalent to Model 3 capacity,” the company said.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line...
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted a...
3 comments
Read more