American electric automotive maker Tesla has reported their biggest revenue loss for the fourth quarter of 2017.
If Tesla is still planning to reach 2,500 units per week by the end of next month and 5,000 units by the end of next quarter, but it doesn't plan to make the standard pack available until "late 2018", it means that they plan to deliver a lot of Long Range Model 3 vehicles.
Yet even that, and an accompanying warning that spending on Tesla's electric auto production would rise this year, could not knock the company's fortunes for long.
Model 3 had a negative gross margin last quarter due to production constraints. This will drive year-over-year revenue growth that will "significantly exceed" its 55% year-over-year revenue growth in 2017, Tesla said. Paying customers are supporting Tesla through its production struggle - they've put down more than $850 million in deposits for vehicles including the Semi truck and Roadster sports auto Musk showed off in November. "It's just a matter of time", he said.
SpaceX and Tesla CEO Elon Musk shared the last image of the mannequin astronaut cruising into outer space in a red Telsa convertible Wednesday night, and it's another doozy. But he also said the company had learned many invaluable lessons from the troubles, and made major strides in efficiencies along the production lines.
"The competitive strength of Tesla long term is not going to be the auto (s), it's going to be the factory, we're going to productise the factory", he said.
"Automation fixes being done in Germany suggest that Model 3 production targets are at risk and that investors will not be surprised by such delays, which we expect will allow TSLA to push out capex payments, reducing near-term cash pressure", analyst Colin Rusch said in a note to clients.
- Tesla expects to send one of its EVs on an autonomous coast-to-coast road trip in the United States in three to six months.
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