Tesla Motors Inc at last makes some good headlines in the motor industry. The year 2014 has not been that great for most of the car makers. The year 2014 has seen quite a few recalls from various famous can manufacturers and numbers are in millions. According to the reports, Tesla Motors Inc has stated that the company expects to be manufacturing more that 60,000 cars in the year 2015. Tesla Motor Inc is a California-based corporation specializing in the manufacture of luxury electric cars.
According to the statement made by the Chief Executive Officer Elon Musk, the company will spend heavily in developing the assembly plant in Fremont and this will help in a radical increase in the number of cars manufactured in the coming fiscal year. The reports include that the Tesla Motor Inc will be using approximately 40% to 45% of the estimated fund to improve Fremont based assembly plant and build a new factory to produce cheaper and more efficient battery packs for the various models.
The rumors have it that the company will be using the cheaper battery packs for the first time in the upcoming $35,000 Model 3 range that is due sometime in the year 2017. Tesla Motors Inc is expected to accelerate the expansion of the Fremont based assembly plant and will be using it to launch the $70,000+ Model S sedan and the Model X cars soon.
According to the present condition, the Fremont based Assembly plant manufactures approximately 1000 cars per week, which is scheduled to increase once the expansion of the plant is complete. The company has lost 50 cents per share as the revenue has nearly doubled to approximately $769.3 million. Tesla Motor Inc expects to deliver about 35,000 Model S sedans this year and improve on the loss that it has incurred per share.
Earlier on Thursday, Tesla Motor Inc has also struck a deal with Japanese electronics giant Panasonic to build a battery factory in the United States by the year 2014. According to the reports, the negotiations for the land to build the battery factory are in the final stages. Panasonic will be funding about 30% to 40% of the cost.