Between January and the end of March, Tesla Inc handed over more than 25,000 vehicles to customers. This is 69 percent more than a year ago, the company announced on Sunday evening in Palo Alto. It is also a record value and slightly more than what experts expected. As a result, Tesla is well on the way to achieving the target of 50,000 deliveries in the first six months.
Recently, Tesla Inc had disappointed several times with the number of the delivered cars because of production problems. Tesla CEO Elon Musk wants to expand the manufacturer into a mass producer. The decisive step will be the start of the production of the model 3 in July – from September is then the serial production run. This type is to be produced in higher numbers and cheaper than the previous models. In the coming year, Tesla plans to boost production to 500K. In order to achieve these goals, 430,000 Model 3 would have to leave the production halls at the end of 2018. As a result, Tesla would produce more electric cars than in the past year as a whole across the company.
Experts rate this as an ambitious goal. Whether Tesla achieves this depends much on the production of batteries. In the future, the company is planning to produce these in large numbers in the so-called Gigafactory itself.
“In view of what we know about the automotive markets, and how people spend their money, this would be an unprecedented move,” said Salim Morsy, an analyst for the electric vehicle sector at Bloomberg. But I do not believe it,” the expert continued.
In the past, Elon Musk has often lined up with his business development forecasts. But this time, the Tesla boss sees himself on schedule. During the Q4 earnings call, he reaffirmed that the serial production of the model 3 should start in September. And the billionaire is also sticking to the medium-term targets: By 2020, Musk wants to produce one million Tesla a year.
On the stock market, Musk’s Tesla has received a lot of attention. Tesla’s current market value, for example, is only slightly below that of the US car maker Ford Motor Company (NYSE:F), which produces significantly more vehicles. Tesla is now worth about $45 billion compared to Ford’s market cap of around $46 billion. TSLA’s stock is up 30% this year while F has declined nearly 2.5%.