Musk sets sights on a record Tesla quarter

Galtero Lara
Junio 12, 2019

The CEO also mentioned the company was on track to hit its volume production goal by the end of this year.

It's unclear how advanced the designs for a submarine vehicle are, though: it could realistically be anything from a detailed 3D model to a crayon sketch on Elon Musk's fridge.

A 31% fall in first-quarter deliveries stirred concern among investors over the appetite for Tesla's Model 3 sedans and its cashflow as it invests to ramp-up output and get cars out to customers on time.

The company was still looking for a right place in Europe to build a gigafactory, Musk said at the meeting, and Tesla was likely to firm up on a decision by the end of the year.

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Musk had made similar comments last month saying the company was on track to hit record deliveries in the second quarter.

As Tesla increases vehicle and battery production, it will have to consider parts of the battery supply chain, like mining.

At the Q1 2019 earnings call Musk said he expected that Tesla would break even for the second quarter, with a significant drop in its cash burn rate thanks to a one-off debt payment of about $US900 million ($A1.3 billion) and re-tooling costs of around $US250 million ($A360 million) paid in full during the first.

Musk highlighted that most electric vehicles which have been launched recently still can't surpass the range of Tesla's 2012 Model S, and claimed that Tesla should soon offer vehicles capable of traveling for 400 miles on a single charge.

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