Tesla needs to hurry-up to get their supply chain in gear, if they want to release Model 3 in 2017. And best to get ZEN graphite for under $2/3K than paying for synthetic at $12-$14K how else can they bring its cost down for each car and make a profit at $35,000.
Tesla Motors (TSLA : US$250.75), Net Change: -5.25, % Change: -2.05%, Volume: 3,363,394 SWITCHING GEARS. Tesla CEO Elon Musk stated at Tesla’s annual meeting that CFO Deepak Ahuja, who has held the position since 2008, will be retiring. Ahuja is going to remain on board until a successor is named and help with the transition of the new CFO hiring. Musk also stated at the meeting that Tesla will begin deliveries of the Model X sport utility vehicle in three to four months, keeping close to the timeline the company set out earlier this year. “The Model X will be a better SUV than the Model S is a sedan,” he added. He said the company is focused on making sure key features are working properly. “It’s got to be a genuine improvement in utility and aesthetics.” The automaker is investing heavily in growth as it prepares to begin selling the Model X. It is increasing production, building its battery factory, and diversifying beyond cars, with a collection of battery products for homes, businesses, and utilities. Musk said that the Model X is drawing over half of its orders from women, compared to the predominantly male customer base for its Model S sedan and the Roadster, which the company no longer sells. Tesla is also working on the Model 3, to be released in 2017 with a starting price of ~$35,000. Moreover, the company is preparing for another software upgrade for the Model S, including auto-pilot driver-assist technology, and “may be able to get it out to early-access customers by the end of this month,” Musk said. He also said that he is personally testing the latest version “every week” and making steady progress in the driver-assistance feature. Moving forward, Musk said that the company most likely will not make money on a net basis until annual sales reach 500,000. “I expect we’ll achieve profitability in 2020,” he said.
