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Model 3 vehicle development, supply chain and manufacturing are on track to support volume deliveries in the second half of 2017. In early February, we began building Model 3 prototypes as part of our ongoing testing of the vehicle design and manufacturing processes. Initial crash test results have been positive, and all Model 3-related sourcing is on plan to support the start of production in July. Installation of Model 3 manufacturing equipment is underway in Fremont and at Gigafactory 1, where in January, we began production of battery cells for energy storage products, which have the same form-factor as the cells that will be used in Model 3. Later this year, we expect to finalize locations for Gigafactories 3, 4 and possibly 5 (Gigafactory 2 is the Tesla solar plant in New York).
pz1975
Active Member
This is a very impressive SH letter from start to finish. Only downside was lower margins, but that is explainable (?some vs. all) by deferred autopilot revenue. Model 3 update was very positive.
CyberDutchie
Active Member
hockeythug
Active Member
Spiegel on CNBC if you want a laugh
Model S and X growth has "stalled"
Model S and X growth has "stalled"
JRP3
Hyperactive Member
Does that mean they'll be making cells, battery packs, and solar panels there?
racer26
Active Member
Only insofar as the line is running at capacity. They can't build more without expanding the line, and they can't do that without risking the timeline for 3. Seems obvious enough.
Mike Smith
Active Member
Robert Ferris on CNBC is reporting revenue missed by $600M. That's pretty close to the truth by CNBC standards.
Tesla posts wider-than-expected loss of 69 cents a share
Tesla posts wider-than-expected loss of 69 cents a share
Hogfighter
Professional Lurker
I saw quite a bit of 'bad' in this letter. Lower gross margins (explainable, but still), practically no outlook on TE, 2 to 2.5 billion more in CapEx in the 1st half of 2017.
And yet AH the stock moves up. I'm done trying to guess SP movements short-term.
And yet AH the stock moves up. I'm done trying to guess SP movements short-term.
racer26
Active Member
Furthermore, Wall St ought to be happy - they got their wish. Conservative S/X guidance. 47-50k cars in 1H17. Not only does Tesla already have about 40% of the information to make that statement, its basically just 6 months of run the line at capacity.
hockeythug
Active Member
On the Bolt: "GM rolling it out through out the whole country"
Outright lie
Outright lie
The Blue Owl
Endangerous Herbivore
Some guy on CNBC (don't know his name) says that demand is stalling, and that the Bolt is outselling the Model S (?!). He's smug as hell, too. So it looks like we'll continue to have this thing all to ourselves for some time; the shorts are still singing the same song.
(I know, I know, I went all to cash 'cause I got scared by an orange, but I went back long LEAPS before earnings.)
Edit: holy cow, that was Spiegel?! Oh, CNBC, how far you've fallen.
(I know, I know, I went all to cash 'cause I got scared by an orange, but I went back long LEAPS before earnings.)
Edit: holy cow, that was Spiegel?! Oh, CNBC, how far you've fallen.
What has journalism come to? I see reports that the loss widened and shrank, missed revenue and beat revenue. Poor algo's, there's too much to choose from.
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
Nowadays it seems not only anyone can have their own opinion, but their own facts as well...
racer26
Active Member
Its complicated by analysts not being clear if their expectations are against the GAAP or non-GAAP numbers.
As everyone was saying yesterday though - the numbers are not the story here. Model 3 is. And saying initial deliveries in July followed by volume in September says to me that the employee deliveries start in July. General public in September. Turning "late 2017" into a month, is a pretty big vote of confidence in the schedule. Crushes all the "Its gonna be late" arguments. Also - hitting 5k/wk some time in Q4 says definitely more than just a few squeaking in under the wire to say it was "late 2017".
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