News Tesla targets November 2019 for start of Model Y production

18:26  13 april  2018
18:26  13 april  2018 Source:   Autoblog

In Musk We Trust: Tesla's 10-Year Pay Scheme Could Make Elon the World’s Richest Man

  In Musk We Trust: Tesla's 10-Year Pay Scheme Could Make Elon the World’s Richest Man In Musk We Trust: Tesla's 10-Year Pay Scheme Could Make Elon the World’s Richest Man If Elon Musk makes sure Tesla keeps growing over 10 years—by the numbers that matter to investors—he could emerge the wealthiest person in the world.Under a new compensation plan for Musk, the CEO's compensation will be based entirely on the financial performance of the company.

SAN FRANCISCO (Reuters) - Tesla Inc (TSLA.O) is targeting November 2019 as the start of production for its Model Y sport utility vehicle, with production in China to begin two years later, two sources told Reuters this week

Tesla targets November 2019 for start of Model Y production : Reuters, citing sources. Shares in Tesla , the US electric-car maker run by Elon Musk, fell more than 20 per cent in March as concerns over the company’s production backlog and its finances dominated.

a close up of a car© Tesla SAN FRANCISCO — Tesla Inc is targeting November 2019 as the start of production for its Model Ysport utility vehicle, with production in China to begin two years later, two sources told Reuters this week, shedding some light on the electric vehicle maker's next project that could tax its resources and capacity.

Reuters has learned the Silicon Valley company led by Chief Executive Elon Musk is accepting preliminary bids for supplier contracts on the Model Y, a compact crossover companion to the Model 3 sedan. Tesla has given suppliers scant details about the program and had not provided a production time frame, but has now indicated the vehicle would begin to be built at its Fremont, California, plant in November of next year, the two sources with knowledge of the supply chain said.

Volvo's First EV Will Reportedly Be a Compact Hatch

  Volvo's First EV Will Reportedly Be a Compact Hatch Based on the 40.2 concept

“ Tesla is targeting November 2019 as the start of production for its Model Y sport utility vehicle, with production in China to begin two years later, two sources told Reuters this week, shedding some light on the electric vehicle maker’s next project that could tax its resources and capacity.”

The Model 3 production woes aside, Tesla is planning to start capital investments in Model Y production soon. But the company failed to meet that ambitious target as it struggled to scale up Model 3 production .

Tesla declined to comment.

The new Model Y details show that Tesla is pushing ahead on plans to build a new vehicle even as it struggles to produce the Model 3, which launched in July. Despite initially attracting about 500,000 advance orders in the form of refundable deposits, the sedan's launch has been plagued by delays and manufacturing bottlenecks, postponing Tesla's anticipated revenue stream and exacerbating a cash crunch for the money-losing company.

> Related: Tesla Model 3 First Drive Review | The very sharp tip of the EV spear

Earlier this month, Tesla tried to reassure investors, saying its weekly Model 3 output had doubled during the first quarter and that production rates would accelerate through the second quarter to 5,000 units per week, or about 250,000 vehicles per year.

Tesla Lost Nearly $2 Billion in 2017

  Tesla Lost Nearly $2 Billion in 2017 Model 3 production is still an issueTesla released its Q4 earnings today, and while revenue totaled $3.29 billion, a year-over-year increase of slightly more than $1 billion, quarterly losses totaled $675.4 million. Because the California-base automaker has invested so much money in building factories, expanding production capabilities, and developing new vehicles, it usually posts a loss each quarter, but Q4's loss was the largest in company history. Tesla also posted a $1.96 billion loss for the year.

Previously, Musk indicated Tesla would start building the Model Y in 2019 . HOT TIP: a supplier source tells me Tesla is sending out drawings and specs to solicit quotes for the Model Y crossover. Start of production targeted for March 1, 2020.

In late November 2014, I polled our readers about the 2017 production target for the Tesla Model 3. The target at that time didn’t include any forecast for the Most people didn’t believe it. Hardcore critics still claimed Model 3 production wouldn’t start until 2019 or 2020 or something like that.

Competitive bidding is a crucial early step in the complicated process of automotive manufacturing. After the automaker discloses its plans, suppliers compete based on factors including cost and technology.

Tesla issued to suppliers what is known as a "request for information," or RFI, which gives a directional view of what will be needed.

With a new car model, automakers normally choose parts suppliers two to two-and-a-half years before the start of production. At about one-and-a-half years away, a November 2019 start date for the Model Y would be considered "aggressive, but possible," said one of the sources. A shorter timeline is potentially feasible, the source said, as the Model Y will be built on the same platform as the Model 3.

Tesla is known for its aggressive timelines and high risk-tolerance in order to get cars to market quicker. To save time and cost, Tesla made the risky bet to skip a pre-production testing phase for the Model 3 in order to advance straight to production tooling, which is harder to fix if problems arise, as Reuters first reported last year.

2018 Tesla Model 3 Makes its Canadian Premiere at the Toronto Auto Show

  2018 Tesla Model 3 Makes its Canadian Premiere at the Toronto Auto Show Production of the Tesla Model 3 has been off to a slow start, but the automaker is trying to pick up the pace, and the Canadian market will get its first glimpse of the fully electric sedan at the Toronto Auto Show. Tesla’s first car designed for mass-market reach, the …Tesla’s first car designed for mass-market reach, the Model 3 will offer snappy performance with a 0 to 96 km/h (0-60 mph) sprint of 5.6 seconds and a top speed of 208 km/h, according to the manufacturer. In base form, it will also boast an EPA-estimated driving range of 352 km.

Lo and behold, this week Alexandria Sage, who writes for Reuters and is a reliable water carrier for Tesla , wrote a story called, Exclusive: Tesla targets November 2019 for start of Model Y production – sources.

A new rumor says the Model Y , Tesla ’s planned mid-range crossover utility vehicle, is set to begin production on March 1, 2020. And if March 2020 really is the target start date, we can likely expect a big Model Y reveal sometime in 2019 .

1 MILLION MODEL Ys?

The Model Y is just one of many projects in the pipeline for Tesla, which also launched a Tesla Semi and a new Roadster in recent months. It is spending to build out its Gigafactory battery factory in Nevada, where battery module assembly issues have contributed to Model 3 delays, and also expects to build a factory in China in the near future.

Tesla has said it will not need to raise additional funds this year. But Moody's cited the likelihood of a capital raise of more than $2 billion in its downgrade of the company last month, spurred by concerns about cash reserves and Tesla's ability to meet production targets. The company burned through $3.4 billion last year.

Without giving a time frame, Musk in February told analysts the company would aim for production capacity of 1 million Model Ys per year.

The two sources said suppliers could be estimating an annual production of 500,000 vehicles in the United States, with much lower volume in China, likely in the tens of thousands. Building 500,000 Model Ys per year would be the equivalent of what Musk has planned for total production in Fremont by the end of this year, although the company is nowhere near that volume.

Tesla Model 3 Canadian Pricing Confirmed

  Tesla Model 3 Canadian Pricing Confirmed The launch of the Tesla Model 3 in Canada is getting closer. The launch of the Tesla Model 3 in Canada is getting closer. One more step in that process is the just announced price: the Model 3 will start from just under $46,000.

Tesla Model Y production plans are set to be announced in 2018. Tesla also stated its goal of producing one million cars a year by 2020, which means that production targets for the Model Y will be more aggressive than those for the Model 3.

Musk viewed the Model Y as a crucial piece to reach the 1 million vehicle production target . Tesla ’s future compact SUV is expected to arrive in late 2019 or early 2020 after the company scales up March 2020 start of production feels early when we don’t even know where they would be built of

Suppliers generally use automakers' production targets to formulate a good guess on how many vehicles will actually be built, based on the individual automaker's capability to execute and consumer demand. One of the sources said Tesla's RFI was light on details compared with other automakers, and did not provide volume estimates for the Model Y.

Musk said in February that capital investments related to the SUV would begin toward the end of 2018. Tesla has said its current factory in Fremont could produce 10,000 vehicles a week - what the company hopes it will build in the Model 3 alone some time in 2018 - without the need for a new building, although some in the industry believe there is not enough room at the plant to support that volume.

Any major Model Y program would likely require a new facility, although low volume of the Model Y could be built on the existing Model 3 line, the sources said.

Reporting by Alexandria Sage.


Tesla hit hard by new Chinese tariffs .
American-made cars will see import duties double in China.Previously, US-built vehicles brought into China were hit with a 25 percent import duty, but under the new regulations an additional 25 percent would be piled on. With a 50 percent tariff in place, the price tag for American-made vehicles would likely be pushed out of reach for a large part of the Chinese car-buying public.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!