Tesla continues to burn money and puts all the meat on the grill with Model 3
The company founded by Elon Musk has just released the financial results for the third quarter under the expectation that entails. We talk about the economic balance since the CEO of SpaceX promised one "infernal production" the Model 3 and its bottlenecks, and now it seems that Tesla will continue to burn money on your disruptive path.
Losses have been duplicated in the last three months: 619.4 million. However there has been better than expected sales: 2.980 million compared to 2.940 million previously estimated. As the report reveals, It will produce a 10% less Model S and Model X stop productive efforts focus on the Model 3, which have been delivered 222 units.
The 250,000th unit has already been delivered
"We continued to meet initial bottle necks related to these problems, and there are no fundamental problems with our supply chain or any of our production processes"It reflects the report. The truth is that the rate of production of Model 3 is constantly increasing, but the high degree of automation in the production line It has proven to be a challenge.
A few days ago only, Panasonic, which produce battery cells for electric Tesla in gigafactoría of Nevada, said that production could increase soon because the causes of bottlenecks in the production of Model 3 had been identified. He added that parts of the manufacturing process of the battery pack has not yet been automated, and therefore are below production targets.
For its part, Tesla still maintained optimistic about the challenge which means that the process of producing the Model 3 is much more automated than their brothers S and X, "or at least every other car market", Said the company.
To meet the objective of 5000 Model 3 a week "at the latest for the first quarter of 2018", Tesla is redirecting efforts toward the expected model. In this last quarter they were given 25,915 units Model S and Model X and Model 222 3 18% more than the previous quarter. However, there will be 10% less than the two models star in the fourth quarter: the production process will focus on gigafactoría Nevada and the Model 3.
In the third quarter, Tesla delivered the 250,000th unit and does not expect these bottlenecks affect the overall rate of reserves Model 3, as the report continues to increase. We should note that most reserves of this model have been blind (Elon Musk already warned: the car could not even taste or see), so we're talking about a client that does not follow a regular process of buying and which likely wait despite the delays.
As for the countless fronts having Musk (make an interplanetary human species or get us to travel at breakneck speeds below ground) is presenting its highly anticipated electric truck. "For the presentation of Semi Truck on November 16, we will demonstrate how powerful electrical conduction for the global truck industry", Said the company.
Also just opened a new station superchargers in Shanghai, China, with 50 load units plus an additional 126 worldwide.
As we said, the early life of a company (even more so crazy as Tesla), usually a constant dance between red and black. It is the price of disruption, when you do what nobody does.