Tesla Financial Statement

Tesla published its financial statement for the first quarter of 2017 and revealed details of the new Model Y.

In the first three months of 2017, Tesla delivered 25.051 cars. The company’s revenue doubled compared to the same quarter last year and amounted to $ 2.7 billion. Tesla reported a net loss of $ 1.33 per share, while Wall Street analysts predicted that this figure would be $ 0,81.

The company also said that the production of Model 3 would begin in July. Tesla expects to produce 5,000 cars a week in 2017 and increase this figure to 10,000 for the same period next year. In a letter to investors, the company denied the judgments that the Model 3 would be better than Model S.

The same thought was expressed by the head of Tesla Elon Mask at a press conference on the quarterly report: “We are doing everything possible to explain to customers that the Model 3 will not get an advantage over the Model S, as many might think. Model S will be better than the novelty, and it should be so because this model is an expensive one.”

New crossover Tesla Model Y

At the same event, Mask revealed the details of the new crossover Tesla Model Y. We expect that the production of the model will begin in 2020. Contrary to previous assumptions, the car will be on a “completely different” platform compared to the upcoming Model 3. Mask also announced plans to abandon the 12-volt batteries in the novelty that were in previous Tesla cars. This will reduce the number of wiring and, therefore, simplify the production process.

During the conference, Elon Mask also talked about the creation of a self-governing electric vehicle. In April 2016, he first spoke of this idea: “We are thinking about creating a means of transport that does not look like a bus, but will solve the problem of population density in the city.”

According to unconfirmed information, Tesla Model Y will receive an engine with a power reserve of 370 km, a battery pack with a capacity of about 70 kWh and a wing of a falcon – doors opening upwards. Tesla will update the autopilot in its novelty. The new autonomous control system will include radar, eight cameras, and 12 ultrasonic sensors.

Creators base the Tesla Model Y on the Model 3 electric sedan. The crossover will take place below Model X in the company’s model range. However, specialists expect the new model of electric vehicle to be more expensive than Model 3.