Tesla is adamant it will be able to build and deliver 5,000 units of its Model S electric sedan by the end of the year, despite it only planning to build around 500 examples this quarter to ensure all quality issues are addressed.
Next year, however, Tesla will be ramping up production to around 20,000 units, though this figure may need to be increased by 50 percent if demand for the cars continues at the current rate. Tesla already has a 10-11 month waiting list for the Model S, and during the announcement of its financial position
yesterday the boss of the company, Elon Musk, said he anticipates much more orders.
“This accelerating pace of reservations makes us confident that demand will surpass 20,000 Model S units for full-year 2013 deliveries,” Musk said in statement.
According to Inside Line
, Musk went on to reveal during a conference call with analysts that his company is considering adding a second shift at the Model S’ production site in California in order to increase annual production to 30,000 units.
Despite the strong demand for the Model S, Tesla just reported a net loss of $105.6 million for the second quarter of 2012, up from $58.9 million a year earlier. However, the company’s only source of revenue has been dwindling sales of its first model, the Roadster, as well as the sale of electric drivetrain technology to other firms including Toyota and Mercedes-Benz.
With work on the Model S now in the final phases, Tesla is soon to start development of its next model, the Model X crossover
, which is currently due out in 2014. This will be followed by the launch of a smaller sedan based on Tesla’s third-generation platform
. The company is currently considering it will need to raise capital to fund the development of these new models.