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Elon Musk Promises 100,000 Electric Cars Per Year
Dave Knott sends this news from the CBC:
Tesla stock was up five per cent on Friday morning after CEO Elon Musk said the electric-car company would deliver 100,000 vehicles next year. Its earnings report released Thursday shows Tesla continues to operate at a loss as it spends on engineering and setting up an assembly line for its Model X SUV, which is scheduled to go into production early next year. But investors were cheered by the news that the company would deliver 100,000 vehicles next year, up from 22,000 in 2013 and a projected 35,000 this year. Tesla reported a loss of $61.9 million in its second quarter, compared with a loss of $30.5 million in the same quarter a year ago. Revenue nearly doubled to $769.3 million, missing Wall Street's forecast of $801.9 million, but expenses were also up as Tesla prepares some ambitious projects, spending $93 million in the quarter on research and development alone. While the Model X is in development, the longer-term plan is for a cheaper, mass-market car, the Model 3, to be launched in 2017. The biggest investment Tesla will make is in its large lithium-ion production plant, to be built at an as-yet-unnamed U.S. location in a $5-billion partnership with Panasonic.
Speculation is that the Reno groundbreaking might simply be a ploy to cause some other states to provide a greater incentive for them to relocate -- and that lacking that, Reno is their fallback.
free market may not be so free nor easy
What "free" market?
We construct a nation of endless laws and millions of government lawyers to regulate huge oligopolies that use these same ever willing lawyers and their laws to insulate themselves from competition, chalk all of this nasty, influence peddling bullshit to "the free market" and disparage it when it fails.
What, exactly, are you thinking of when you say "free?"
My Tesla runs on solar power.
I don't read your sig. Why are you reading mine?