Elon Musk is projecting volume production of the Tesla Model 3 in China by the end of 2019. Elon Musk believes that they will reach a combined production of 10,000 Model 3 cars per week from the Fremont and China factories.
Tesla announced its second quarter of profitability in row.
By mid-2018 we successfully overcame these challenges and stabilized Model 3 production at high volumes. Model 3 then went on to become the best-selling passenger car in the US in terms of revenue in both Q3 and Q4. With nearly 140,000 units sold, Model 3 was also the best-selling premium vehicle (including SUVs) in the US for 2018 – the first time in decades an American carmaker has been able to secure the top spot.
Telsla should be able to make 500,000 model 3 cars per year when the China production is ramped up. Barring unexpected challenges with Gigafactory Shanghai, they are targeting annualized Model 3 output in excess of 500,000 units sometime between Q4 of 2019 and Q2 of 2020.
They will start tooling for Model Y in 2019 to achieve volume production by the end of 2020, most likely at Gigafactory 1. All of these activities are setting us up for very significant annual growth in 2019 and beyond.
Every part of the Model 3 production process has demonstrated over a 24-hour period the ability to produce at an extrapolated rate of 7,000 vehicles per week. By the end of 2019, they expect to be able to produce Model 3 at this rate on a sustained basis from just the Fremont factory.
Elon Musk will unveil the pickup truck in the middle of 2019.
Tesla stock is off slightly in after hours trading and is around $300 per share.